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• <br />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 />(1-1-4,,' 6 „,., <br />N4t <br />-lyn G. Anderson, Clerk -Treasurer Kim <br />PAGE 5 <br />ullivan, Mayor <br />