HomeMy WebLinkAbout05/05/1975 Council Minutes1
A special meeting of the Lino Lakes City Council was called to order
at 8:05 P.M. on May 5, 1975 by Mayor Bohjanen. Councilmen present:
Jaworski, Marier, McLean. absent: Zelinka.
Mayor Bohjanen said this meeting had been called for the expressed
purpose of discussing the Jandric property and the special assessments
levied against that property.
Mr. Locher had mailed a copy of deliquent taxes and assessments now
due in that project. The special assessment deliquency figure is
approximately $35,079.90 and the deliquent taxes amount to approximately
$21,897.21.
Mr. Marier felt that the development in the project is in jeopardy.
Since this c relopment is not moving, Lino Lakes should take lien action.
The $50,000.00 Certificate of Deposit should be used to pay the deliquent
assessment and accrued interest. This Certificate of Deposit should then
be replaced with another $50,000.00 Certificate of Deposit.
The repayment of the $180,00.00 bond issue was discussed as to when the
interest and principal payments are due.
The question of a road bond for the surfacing of the streets, especially
West Shadow Lake Drive, was discussed. There was doubt as to whether or
not a bond had been posted for that street. If not, then either the
affected residents or the City as a whole will have to pay for that
street. Mr. Marier though this was unfair to the taxpayer.
The Clerk is to check for the posting of bonds for the surfacing of
the streets, particularlly in Lakes Addition #1.
Mr. Marier said that with the proper legal advice, he moved to place a
lien against the Jandric project, Mr. Emil Jandric, U. S. Lakes Enter-
prises, Inc., formerly known as U. S. Lakes Development Co. and call for
relase of the $50,000.00 Certificate of Deposit now on deposit, this
Certificate to be replaced with a like $50,000.00, the monies to be used
forth ayment of deliquent special assessments and accrued interest in
the am nt of approximately $35,000.00 plus interest. Road bonds to be
called in or money placed in the hands of Lino Lakes in order that all
streets be brought up to City specifications by the end of 1975. Motion
was seconded by Mr. McLean.
The Clerk read a letter from Drovers State Bank that ce *tifies the
existence of the $50,000.00 CD. The Council felt that there is an
agreement other than this certification.
Mr:.Jaworski was under the impression that in the agreement, the CD could
only be used of the City did not have enough funds on hand to meet the
principal and interest payments on the bonds. As long as there were
funds available, then this CD could not be used.
Mr. Marier thought that there was provision for the failure of the project
the CD could be used in such an event.
After some discussion as to when payment is due and how much, the vote on
the motion was unanimous.
Mr. Marier moved to adjourn at 8:45 P.M. Seco ded by Mr. Jaworski. Aye
L_ X f,-L2_i/CLERK-TREASURER.