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MINUTES MARCH 16, 1998 <br /> have not been identified because the construction of lift stations are "driven"by <br /> development. In addition,the costs of lift stations vary a great deal. <br /> BONDS - Kim asked how the City determines the maximum amount it can bond. Brian <br /> explained that the top dollar amount is determined by a number of factors. He has spoken <br /> to Jerry Shannon of Springsted,Inc. who has indicated that the maximum the City can <br /> bond is 12 to 13 million dollars. <br /> Kim asked if the City bonded for all of the items presented this evening, what impact <br /> would this have on property taxes. Dave Pecchia explained that the taxes on a$150,000 <br /> home would increase by $250.00 per year. In addition, if the school bond passes, there <br /> will be a further impact. <br /> Dave asked the Council to review the materials provided this evening and then if they <br /> have further questions regarding specific proposals for bonding, they should call that <br /> department head. If the Council has questions regarding the financial aspect of tonight's <br /> presentation they should call Mary Vaske. <br /> It was decided to continue this meeting on March 30, 1998 at 6:00 p.m. Kim requested <br /> that some of the board members and Superintendent McClellan be asked to attend this <br /> next meeting. <br /> Kim asked what the impact of levy limits have on the City. John asked staff to determine <br /> what effect would levy limits have in terms of bond payment. <br /> Brian said he would have Jerry Shannon attend the next meeting. <br /> Kim noted that the Council should set a date to continue the goal setting meeting from <br /> March 7, 1998. <br /> The meeting was adjourned at 7:55 p.m. <br /> These minutes were considered, corrected and approved at the regular Council meeting <br /> held on April 13, 1998. <br /> lyn G. Anderson, Clerk-Treasurer *KiIyA. oullivanhMaynor <br /> PAGE 5 <br />