12/27/1988 Council Minutes - Laserfiche WebLink

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114 COUNCIL MEETING DECEMBER 27, 1988 Assessment Prepayment Agreement - South Reshanau Lake Estates South, 2nd Addition - Mrs. Anderson explained that Mr. Uhde had contacted herself and Mr. Stahlberg and explained that since assessments for this improvement will not be finalized until later in 1989 could the pending assessments be paid to the City rather than be held in escrow at the title company. This arrangement would allow the City to collect the assessments based on the feasibility report and allow Mr. Uhde the option of not escrowing one and one half times the assessment with the escrow company. Mr. Hawkins has prepared a prepayment agreement for the Council to consider. Mr. Hawkins explained that this is becoming a common practice and recommended that the Council adopt this agreement. Mr. Reinert moved to adopt the prepayment agreement. Mr. Bisel seconded the motion. Motion carried unanimously. Resolution No. 91 - 88 through Resolution No. 95 - 88 - Mr. Schumacher explained that these resolution should be changed to close the fund balances into a new fund titled "Bond Fund ". The following resolutions were adopted with that change. Resolution No. 91 - 88 - Mr. Reinert moved to adopt this resolution. Mr. Bisel seconded the motion. Motion carried unanimously. Resolution No. 92 - 88 - Mr. Bohjanen moved to adopt this resolution. Mr. Neal seconded the motion. Motion carried unanimously. Resolution No. 93 - 88 - Mr. Bisel moved to adopt this resolution. Mr. Reinert seconded the motion. Motion carried unanimously. Resolution No. 94 - 88- Mr. Neal moved to adopt this resolution. Mr. Reinert seconded the motion. Motion carried unanimously. Resolution N. 95 - 88 - Mr. Reinert moved to adopt this resolution. Mr. Bisel seconded the motion. Motion carried unanimously. Resolution No. 91 - 88 through Resolution No. 95 - 88 can be found at the end of these minutes. PAGE 9