07/06/1998 Park Board Packet - Laserfiche WebLink

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COUNCIL MINUTES MAY 11, 1998 OPEN MIKE Marty Asleson, Environmental and Forestry Coordinator, presented Mayor Sullivan with the Tree City Award. Mr. Asleson summarized the qualifications required to apply for the award. He also noted the Arbor Day celebration that was held at the Lino Elementary School. Mayor Sullivan thanked Mr. Asleson for the award and thanked everyone for making the Arbor Day celebration a success. FINANCE DEPARTMENT REPORT,MARY VASKE Consideration of Resolution No. 98 -65,Transfer Funds for Civic Complex-Ms. Vaske explained that City Council has committed to the construction of a new city hall and police station. The original proposal was to build the buildings with a combination of cash on hand and the sale of bonds. The cash contributions of the funds identified will not hurt the ability of these funds to maintain balances that are needed for future projects. Two (2) of the funds, Apollo Drive and the Industrial Park funds, will be closed, as they are no longer being utilized. Ms. Vaske recommended that Resolution No. 98 - 65 be adopted. Council Member Neal moved to adopt Resolution No. 98 - 65, as presented. Council Member Bergeson seconded the motion. Motion carried unanimously. �.. Resolution No. 98 - 65 can be found at the end of these minutes. Consideration of Resolution No. 98- 66, Intent to Bond, Civic Complex and Park Land - Ms. Vaske stated that the City of Lino Lakes is required by the Internal Revenue Service to declare it's intent to reimburse project costs from bond proceeds prior to encumbering project costs. This is a non-binding declaration that must be done in order to finance projects that will be paid for with bonds. Ms. Vaske referred to a handout that noted the potential amount to be bonded. Ms. Vaske recommended that Resolution No. 98 - 66 be adopted. Council Member Bergeson moved to adopt Resolution No. 98 - 66, as presented. Council Member Dahl seconded the motion. Motion carried unanimously. Resolution No. 98 - 66 can be found at the end of these minutes. Consideration of Resolution No. 98- 67,Approving Annual Transfers for Assessment Payment, GNW-Ms. Vaske explained that per the Tax Increment Financing (T.I.F.) agreement with GNW Mechanical, assessments owing on the property were to be paid with increments over the life of the district. The T.I.F. attorney has suggested an assessment schedule based on the 2