03-23-2015 Council Meeting Minutes

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COUNCIL MINUTES March 23, 2015 APPROVED 46 47 March 23, 2015 (Check No. 99954 —100058, 48 $302,877.72) Approved 49 50 Centennial Fire District (Check No. 6804 - 6844, 51 $55,938.90) Approved 52 53 March 2, 2015 Council Work Session 54 Minutes Approved 55 56 March 9, 2015 City Council Meeting Minutes Approved 57 58 Resolution No. 15-27, Application for a Temporary 59 On -Sale Liquor License for the Chain of Lakes Rotary 60 Club Approved 61 62 Resolution No. 15-28, Peddler License for Pro Star 63 Tree Care Approved 64 65 FINANCE DEPARTMENT REPORT 66 67 2A) Public Hearing on Approving a Tax Abatement; Consider Resolution No. 15-30 68 Approving Property Tax Abatement Related to Fire Hall and Public Infrastructure 69 Improvements in the City of Lino Lakes- Finance Director Rolek explained that the tax abatement 70 process is being recommended to finance improvements related to roadway sewer services around the 71 new fire station. The council has reviewed the abatement process with the city's financial adviser, 72 Springsted, Inc., and it is now time to hold a public hearing and consider approval of the abatement. 73 Ms. Terri Heaton of Springsted, Inc., reviewed how abatement financing would be used and the 74 amount recommended. She explained the rules under which abatement can be used and pointed out 75 that this proposed project does qualify. Council Member Stoesz clarified that the abatement 76 wouldn't hinder the county or school district to do financing in the near future. 77 78 Mayor Reinert opened the public hearing. There being no one present wishing to speak, the public 79 hearing was closed. 80 81 Council Member Kusterman moved to approve Resolution No. 15-30 as presented. Council Member 82 Roeser seconded the motion. Motion carried on a voice vote. 83 84 2B) Resolution No. 15-31, Providing for the Issuance and Sale of General Obligation Bonds, 85 Series 2015A, in the Proposed Aggregate Principal Amount of $3,645,000- Finance Director 86 Rolek reviewed his written report, noting that a General Obligation bond issuance is proposed to the 87 council in order to finance improvements. The improvement projects are the roadway and sewer 88 improvements planned around the new fire station facility and also the street reconstruction project 89 that was approved by voters in 2014 (Shenandoah area). Ms. Terri Heaton of Springsted, Inc, the 90 city's financial advisors, reviewed the proposed sale, noting that combining the sale of bonds for the 2