04-13-2015 Council Packet - Laserfiche WebLink

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COUNCIL MINUTES March 23, 2015 DRAFT March 23, 2015 (Check No. 99954 100058, $302,877.72) Centennial Fire District (Check No. 6804 - 6844, $55,938.90) March 2, 2015 Council Work Session Minutes Approved Approved Approved March 9, 2015 City Council Meeting Minutes Approved Resolution No. 15-27, Application for a Temporary On -Sale Liquor License for the Chain of Lakes Rotary Club Approved Resolution No. 15-28, Peddler License for Pro Star Tree Care Approved FINANCE DEPARTMENT REPORT 2A) Public Hearing on Approving a Tax Abatement; Consider Resolution No. 15-30 Approving Property Tax Abatement Related to Fire Hall and Public Infrastructure Improvements in the City of Lino Lakes- Finance Director Rolek explained that the tax abatement process is being recommended to finance improvements related to roadway sewer services around the new fire station. The council has reviewed the abatement process with the city's financial adviser, Springsted, Inc., and it is now time to hold a public hearing and consider approval of the abatement. Ms. Terri Heaton of Springsted, Inc., reviewed how abatement financing would be used and the amount recommended. She explained the rules under which abatement can be used and pointed out that this proposed project does qualify. Council Member Stoesz clarified that the abatement wouldn't hinder the county or school district to do financing in the near future. Mayor Reinert opened the public hearing. There being no one hearing was closed. Council Member Kusterman moved to approve Resolution No. Roeser seconded the motion. Motion carried on a voice vote. present wishing to speak, the public 15-30 as presented. Council Member 2B) Resolution No. 15-31, Providing for the Issuance and Sale of General Obligation Bonds, Series 2015A, in the Proposed Aggregate Principal Amount of $3,645,000- Finance Director Rolek reviewed his written report, noting that a General Obligation bond issuance is proposed to the council in order to finance improvements. The improvement projects are the roadway and sewer improvements planned around the new fire station facility and also the street reconstruction project that was approved by voters in 2014 (Shenandoah area). Ms. Terri Heaton of Springsted, Inc, the city's financial advisors, reviewed the proposed sale, noting that combining the sale of bonds for the 2