05/22/2006 Council Minutes (3) - Laserfiche WebLink

Home Search

• COUNCIL MINUTES MAY 22, 2006 APPROVED Consider Resolution No. 06-86 Providing for the Issuance and Sale of $570,000 General Obligation Utility Revenue Bonds Series 2006B — Finance Director Rolek advised the City Council would soon consider approval of public improvement projects for County Road 49 Watermain Improvements (in conjunction with the Anoka County bridge replacement project) and Lois Lane Street and Utility Improvements. To finance the improvements to be made in these projects it is necessary to issue and sell General Obligation Utility Revenue bonds. Springsted, Inc. has issued their recommendation for the issuance of $570,000 G.O. Improvement Refunding Bonds Series 2005B. Ms. Terry Heaton, Springsted, Inc., came forward and stated if approved, the sale of these two issues would occur on June 26, 2006, with consideration for award by the City Council at its meeting the same day. The Series 2006A issue would have a 15 -year term and would be repaid through the tax abatement district. The Series 2006B issue would have a 10 -year term and would be repaid through utility and trunk fees. Ms. Heaton advised the Council did discuss using a portion of this issue to finance interest on the bonds. It was determined the City would move forward with the issuance of $2,470,000 G.O. Tax Abatements Bonds Series 2006A. Councilmember O'Donnell moved to approve Resolution No. 06-85, as presented in the amount of $2,470,000. Councilmember Reinert seconded the motion. Motion carried unanimously. Councilmember Carlson moved to approve Resolution No. 06-86, as presented. Councilmember O'Donnell seconded the motion. Motion carried unanimously. ADMINISTRATION DEPARTMENT REPORT, DAN TESCH Liquor Compliance Violations: Consider Resolutions Providing for a Finding of Violation and Imposing Penalties: 1. Resolution 06-81 regarding American Legion Post #566 2. Resolution 06-82 regarding Circle Lex VFW Post #6583 3. Resolution 06-83 regarding Miller's on Main City Clerk Bartell stated the City Council held a hearing earlier this evening to review the Police Department's report and recommendations relative to compliance checks that were conducted on Lino Lakes' licensed liquor establishments. City Clerk Bartell stated the following establishments were found to have violated the City Liquor Code and penalties were considered based on the City's adopted Best Practices Grid: 1. American Legion Post #566 (Resolution 06-81) 2. Circle Lex VFW (Resolution 06-82) 3. Miller's on Main (Resolution 06-83) 3