02/11/1980 Council Minutes - Laserfiche WebLink

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62 February 11, 1980 Lakes. After some discussion, the only change was the effective dat of beginning. This lease is to begin January 1, 1980. Mr. Jaworski moved to approve this lease agreement with the correction of the starting date. Seconded by Mr. Kulaszewicz. Motion carried unanimously. The proposed developer's agreement was considered. Mr. Kulaszewicz felt that something simplier could do the same job. Mayor Gourley felt a check list could be compiled and do the same job. Mr. McLean felt that all should be handled the same way - with the same consistency. Mr. Jaworski moved not to adopt this developer's agreement and intruct Mr. Schumacher to develop a check list for plats. Seconded by Mr. Kulaszewicz. Motion carried unanimously. There was discussion on the new City limit signs. The County has a machine and has agreed to make signs for this City. The signs will contain "City of Lino Lakes' with the Chain of Lakes. The size and materials and how the sign will look was questioned. Mr. Volk will get a drawing and present at the next Council meeting. Mr. Volk will also prepare a list of locations and sign sizes for Council consideration. The Contract for Animal Control was discussed. This is with Blaine Midway All Pets. The only change is an increase of 0.50 in the boarding charge. Mr. McLean moved to approve this contract. Secon ded by Mr. Kulaszewicz. Motion carried unanimously. The matter of setting a public hearing on the issuing of $650,000.00 Industrial Revenue Bonds was next on the agenda. Mr. Merry had not arrived as yet. There was discussion on what these bonds are to be used for and how this City becomes involved. Mr. McLean felt that there is no designation of what the project is to be or haw the bonds are to be used. Mr. Merry arrived and proceeded to explain the functions of this issue. He is with Juran & Moody and that firm has been retained to arrange fin- ancing for Rite -Way Waterproofing. The plas of the company are to move out of the existing building and construct a new building of approximately 13,000 square feet. He felt this priject will be scaled down. The proposal to this City is for the City to issue a $650,000.00 single issue note. This si secured by Mortage, notes, etc. Mr. Merry explained there are four steps the City must get involved with; 1) the calling of a public hearing and must be published in two papers, ten days before the nearing and all materials msut be on file with the City before this hearing, 2) the City will need to issue a letter stating the project is feasible, 3) the Council will need to execute a Resolution giving preliminary approval of the project; 4) A Resolution giving final approval of the project. This process will take approximately 60 days. Mr. Merry outlined the nenefits to the City and to the Company. With- out this type of financing the pronect cannot be carried out. This will improve now vacant land, create a tax base for the City and create a job market. Mr. Merry emphazied the City is not responsible for any costs incurred in the project - all costs are assessed to Rite -Way Waterproofing. The City is also not responsible for the repayment of this loan. Mr. Kulaszewicz asked if a representative from the Bond Council would be