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CITY COUNCIL SPECIAL WORK SESSION September 26, 2016 <br />DRAFT <br /> 1 <br />CITY OF LINO LAKES 1 <br />MINUTES 2 <br /> 3 <br />DATE : September 26, 2016 4 <br />TIME STARTED : 6:00 p.m. 5 <br />TIME ENDED : 6:28 p.m. 6 <br />MEMBERS PRESENT : Council Member Rafferty, Kusterman, 7 <br /> Maher, Manthey and Mayor Reinert 8 <br />MEMBERS ABSENT : None 9 <br /> 10 <br />Staff members present: City Administrator Jeff Karlson; Public Safety Director Swenson; 11 <br />Community Development Director Grochala; Finance Director Sarah Cotton; City Clerk 12 <br />Julie Bartell. 13 <br /> 14 <br /> 1. 2017 Budget and Tax Levy – Finance Director Cotton noted the updated budget 15 <br />documents included in the packet. She noted the Gap Analysis and how staff proposes to 16 <br />continue seeking reductions in the amount of $26,000. She noted a flat tax capacity rate 17 <br />of 45.985 percent. 18 <br /> 19 <br />There were no questions from the council. 20 <br /> 21 <br />2. Review Regular Agenda – 22 <br /> 23 <br />Finance Department – Finance Director Cotton reviewed her requests to the council. 24 <br /> 25 <br />Item 2Ai relates to issuance of bonds for the Aqua Lane project. 26 <br /> 27 <br />Items 2Aii and 2Aiii are refunding actions. Council Member Kusterman confirmed that 28 <br />this is the appropriate time to move on refunding and that staff is monitoring other bonds 29 <br />for the best opportunity. He also asked if the city could borrow from itself for these costs 30 <br />and Ms. Cotton said it isn’t allowed and the city does practice that as able. Council 31 <br />Member Kusterman asked that staff provide the actual statute language that governs the 32 <br />practice. 33 <br /> 34 <br />Items 2B through 2G – All relating to the 2017 Preliminary budget, were reviewed. 35 <br /> 36 <br />A memorandum was distributed regarding Item 2D through Item 2G, all relating to the 37 <br />cancelation of debt service for bond indebtedness because adequate resources are 38 <br />available to make payment of the ensuing year debt service. 39 <br /> 40 <br />Item 6A – Community Development Director Grochala reviewed the three actions items, 41 <br />all relating to the Clearwater Creek Business Park project. There will be continuing 42 <br />discussion on the color of the building. There are trucks hauling out there, working on 43 <br />the grading for a couple weeks yet. 44 <br /> 45