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AGENDA ITEM 7F iii. <br />STAFF ORIGINATOR: John Powell, City Engineer <br />COUNCIL MEETING DATE: September 24, 2001 <br />TOPIC: Resolution No. 01-160, Declare Intent to Bond, Lino Lakes Marketplace <br />VOTE REQUIRED: 3/5 Vote Required <br />BACKGROUND: <br />The City is required to declare its intent to reimburse project costs from bond proceeds <br />prior to encumbering project costs. This is a non-binding declaration that must take <br />place in order to finance projects in this manner. The Lino Lakes Marketplace Street <br />and Utility Improvement project may be financed through bond proceeds. <br />OPTIONS: <br />1. Return to staff for further review. <br />2. Adopt Resolution Number 01-160, Declare the City's Intent to Bond for the Lino <br />Lakes Marketplace project. <br />3. Not adopt Resolution No. 01-160. <br />RECOMMENDATION: <br />Option No. 2 - Staff recommends that Resolution Number 01-160 be adopted. <br />