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515 Little Canada Road, Little Canada, MN 55117 -1600 <br />(651) 484 -2177 / FAX: (651) 484 4538 <br />MEMORANDUM <br />TO: Mayor Fahey & Members of the City Council <br />FROM: Joel Hanson, City Administrator <br />DATE: September 18, 1998 <br />RE: Fund Transfer for Centerville Road Water Main Assessment <br />MAYOR <br />Michael I. Fahey <br />COUNCIL <br />Beverly Scalze <br />Jim LaValle <br />Steve Morel= <br />Bob Pedersen <br />ADMINISTRATOR <br />Joel R Hanson <br />At our last Council meeting, we discussed the transfer of funds from the water and sewer capital <br />reserve account to the Centerville Road water main improvement project to pay off the City's <br />share of assessments from that project. The amount needed is $34,743.53. <br />The Council also asked me to inform them of how we handled the payoff of assessments for the <br />Nadeau Park property associated with the Lake Street improvement project back in 1995 (see <br />attached). In that case, we recommended the use of the closed bond fund. The basis for our <br />recommendation has been tied predominantly to the nature of the improvements rather than the <br />benefits to the park land. Therefore, I would stand by my recommendation that we use the water <br />and sewer capital reserve account to pay for these assessments rather than the park land <br />acquisition fund. <br />JRH:kpv <br />Enclosures <br />Page 94 <br />