Laserfiche WebLink
264 <br />COUNCIL MEETING NOVEMBER 14, 1994 <br />Member Kuether seconded the motion. Motion carried unanimously. <br />CONSIDERATION OF LEGAL SERVICE AND RETAINER AGREEMENT, RANDY <br />SCHUMACHER <br />Mr. Schumacher explained a copy of the proposal for legal service <br />and a retainer agreement had been placed in the Council packets <br />for them to review. He noted that Mr. Shea of McGrann Shea <br />Franzen Carnival Staughn & Lamb, Chartered is prepared to analyze <br />the gas utility system and alternatives as they exist. Mr. Shea <br />will come to the City Council with alternatives for the Council <br />to consider in the areas of existing franchise agreements, <br />effects of the City Charter, state statutes and Council <br />authorities. <br />The fees for Mr. Shea's services will not exceed $5,500.00. Mr. <br />Schumacher also noted that the proposal was reviewed by the <br />Tracking Committee. Council Member Elliott moved to enter into <br />the proposed agreement. Council Member Bergeson seconded the <br />motion. Motion carried unanimously. <br />CONSIDERATION OF RESOLUTION NO. 94 - 94 CALLING FOR REDEMPTION OF <br />THE OUTSTANDING GENERAL OBLIGATION IMPROVEMENT BONDS, SERIES <br />1988A, RANDY SCHUMACHER <br />Mr. Schumacher explained that the G.O. Bonds, 1988A mature on <br />February 1, 1997. The City can call the bonds commencing on <br />February 1, 1995. The outstanding principal is $500,000.00. The <br />cash available in the debt fund exceeds $700,000.00. The <br />interest savings by calling the bonds early will be approximately <br />$36,000.00. The remaining cash will be transferred to the Closed <br />Bond Fund and can be used as designated. <br />Council Member Kuether moved to approve Resolution No. 94 - 94 as <br />proposed. Council Member Elliott seconded the motion. Motion <br />carried unanimously. <br />Resolution No. 94 - 94 can be found at the end of these minutes. <br />OLD BUSINESS <br />Clear Water Creek Drainage Study - Mr. Schumacher explained that <br />the City has been discussing the Clear Water Creek Drainage Study <br />with the City of Hugo for several months. A letter of agreement <br />has been received from the Hugo City Administrator outlining ten <br />(10) basic issues for the study to be completed by OSM. The <br />drainage area affects both Lino Lakes and Hugo. There are <br />several items that relate to development in the drainage area and <br />it would be very important to have the information when <br />PAGE 10 <br />1 <br />1 <br />1 <br />