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MiNUTE5 <br />CITY COUNCIL <br />OCTOBER 14, 1998 <br />10% <br />COMMITTEE <br />RECOMMEN- <br />DATION <br />revitalization of the shopping center. Hotzler felt that this has been a <br />benefit to the community. <br />Mrs. Scalze introduced the following resolution and moved its adoption: <br />RE.SOLUTION NO. 98-10-14 -AUTHORIZING THE PRESIDENT <br />OF THE ECONOMIC DEVELOPMENT AUTHQRITY TO EXECUTE <br />THE SATISFACTIONS REI.ATIVE TO THE MARKET PI,ACE <br />SHOPPING CENTER I.OAN PAY-OFF <br />The foregoing resolution was duly seconded by Fahey. <br />Ayes (4) Scalze, Fahey, LaValle, Pedersen. <br />Nays (0). Resolution declared adopted. <br />Mrs. Scalze introduced the following resolution and moved its adoption: <br />RESOI, UTION NO. 98-10-I S-AD.70URN7NG THE MEETING OF <br />THE ECONOMIC DEVEI,OPMENT AUTHORITY <br />The foregoing resolution was duly seconded by LaValle. <br />Ayes (4) Scalze, LaValle, Pedersen, Fahey. <br />Nays (0). Resolution declared adopted. <br />Mrs. Scalze introduced the following resolution and moved its adoption: <br />RESOI. UTION NO. 98-10-244 - RECONVENING THE MEETING OF <br />THE CITY COUNCII. <br />The foregoin~ resolution was duly seconded by LaValle. <br />Ayes (4) Scalze, LaValle, Pedersen, Fahey. <br />Nays (0). Resolution declared adopted. <br />The Council reviewed the recommendation of the 10% Committee for <br />projects to be completed during 1999. Scalze asked what the fund <br />balance would be if the recommended projects are all funded. <br />The City Administrator estimated the fund balance at the end of 1999 <br />would be close to zero. <br />Scalze asked if any consideration had been ~iven to leaving money in the <br />fund. The Administrator replied that the committee discussed this, but <br />7 <br />