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• <br />• <br />1 COUNCIL MINUTES MAY 22, 2006 <br />APPROVED <br />May 22, 2006 (Check No. 776618 — <br />76736, $342,670.56) <br />Centennial fire District (Check No. 15188 — <br />15207, $32,151,21) <br />Approval of May 8, 2006 Special City <br />Council Meeting Minutes <br />Approval of May 8, 2006 Regular City <br />Council Meeting Minutes <br />Birch Street Trail Project #2, Receive Plans <br />And Specifications, Authorize Advertisement <br />For Bids <br />Resolution 06-87, Approving Change Order <br />No. 2 and Final Payment, 2005 Overlay <br />Project <br />Pine Glen <br />Approved <br />Approved <br />Approved <br />Approved <br />Approved <br />Approved <br />Resolution 06-88, Authorizing Execution of <br />Development Agreement, Pine Glen <br />Addition Approved <br />Resolution 06-80, Approving Final Plat for <br />Pine Glen Approved <br />FINANCE DEPARTMENT REPORT, AL ROLEK <br />Consider Resolution NO. 06-85 Providing for Issuance and Sale of $2,470,000 General <br />Obligation Tax Abatement Bonds Series 2006A, Al Rolek — Finance Director Rolek stated the City <br />Council has entered into an agreement to partner with the YMCA to build a facility in the Legacy at <br />Woods Edge development. To finance the cash contribution for the YMCA, the City Council has <br />discussed several options and has decided to issue and sell General Obligation Tax Abatement bonds. <br />Finance Director Rolek advised the abatements would be generated from the non -TIF portion of the <br />Legacy development. A public hearing has been held and City Council action has been taken to <br />establish this tax abatement district. Springsted, Inc. has issued their recommendation for the <br />issuance of $2,470,000 G.O. Tax Abatement Bonds Series 2006A. <br />2 <br />