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HomeMy WebLinkAbout05/11/1998 Council Minutes• COUNCIL MINUTES MAY 11, 1998 CITY OF LINO LAKES MINUTES DATE : May 11, 1998 TIME STARTED : 6:30 P.M. TIME ENDED : 7:50 P.M. MEMBERS PRESENT : Bergeson, Dahl, Neal, and Mayor Sullivan MEMBERS ABSENT : Lyden Staff members present: Interim City Administrator, David Pecchia; Finance Director, Mary Vaske; Environmental and Forestry Coordinator, Marty Asleson; City Attorney, Bill Hawkins; City Engineer/Public Works Director, David Ahrens; Community Development Director, Brian Wessel; and City Clerk Marilyn Anderson SETTING THE AGENDA The Agenda was approved as presented. CONSENT AGENDA Mayor Sullivan removed the second item (Administration, Government Training Services, • Schumacher) from Manual Expenditures. Council Member Neal moved to approve the Consent Agenda as amended. Council Member Bergeson seconded the motion. Motion carried unanimously. ITEM MINUTES: April 22, 1998 DISBURSEMENTS: April 30, 1998 ($203,406.57) ACTION May 11, 1998 Checks No. 50067 - 5077, $282,054.88) Centennial Fire District Approved Approved Approved Approved Mayor Sullivan reminded those present of the guidelines for audience participation in City IIICouncil Meetings, emphasizing the need for respectful dialog. COUNCIL MINUTES MAY 11, 1998 OPEN MIKE Marty Asleson, Environmental and Forestry Coordinator, presented Mayor Sullivan with the Tree City Award. Mr. Asleson summarized the qualifications required to apply for the award. He also noted the Arbor Day celebration that was held at the Lino Elementary School. Mayor Sullivan thanked Mr. Asleson for the award and thanked everyone for making the Arbor Day celebration a success. FINANCE DEPARTMENT REPORT, MARY VASKE Consideration of Resolution No. 98 - 65, Transfer Funds for Civic Complex - Ms. Vaske explained that City Council has committed to the construction of a new city hall and police station. The original proposal was to build the buildings with a combination of cash on hand and the sale of bonds. The cash contributions of the funds identified will not hurt the ability of these funds to maintain balances that are needed for future projects. Two (2) of the funds, Apollo Drive and the Industrial Park funds, will be closed, as they are no longer being utilized. Ms. Vaske recommended that Resolution No. 98 - 65 be adopted. Council Member Neal moved to adopt Resolution No. 98 - 65, as presented. Council Member Bergeson seconded the motion. Motion carried unanimously. Resolution No. 98 - 65 can be found at the end of these minutes. Consideration of Resolution No. 98 - 66, Intent to Bond, Civic Complex and Park Land - Ms. Vaske stated that the City of Lino Lakes is required by the Internal Revenue Service to declare it's intent to reimburse project costs from bond proceeds prior to encumbering project costs. This is a non-binding declaration that must be done in order to finance projects that will be paid for with bonds. Ms. Vaske referred to a handout that noted the potential amount to be bonded. Ms. Vaske recommended that Resolution No. 98 - 66 be adopted. Council Member Bergeson moved to adopt Resolution No. 98 - 66, as presented. Council Member Dahl seconded the motion. Motion carried unanimously. Resolution No. 98 - 66 can be found at the end of these minutes. Consideration of Resolution No. 98 - 67, Approving Annual Transfers for Assessment Payment, GNW - Ms. Vaske explained that per the Tax Increment Financing (T.I.F.) agreement with GNW Mechanical, assessments owing on the property were to be paid with increments over the life of the district. The T.I.F. attorney has suggested an assessment schedule based on the 2 • COUNCIL MINUTES MAY 11, 1998 approximate term of the district with 10% interest charged per year. These annual transfers for assessments have been previously approved for all other T.I.F. projects with the same assessment agreement. The total assessment owing is $107,299. Ms. Vaske recommended that Resolution No. 98 - 67 be adopted. Mayor Sullivan asked if the City's carrying costs would be recovered. Ms. Vaske indicated that they would. Council Member Dahl moved to adopt Resolution No. 98 - 67, as presented. Council Member Neal seconded the motion. Motion carried unanimously. Resolution No. 98 - 67 can be found at the end of these minutes. Consideration of Resolution No. 98 - 68, Designating General Fund Balance - Ms. Vaske stated that Resolution No. 91 - 03 set standards for a reserve policy for the General Fund. The policy requires that 1/2 of the cash flow from property taxes and state aids for the ensuing year be required 15% general contingency reserve for the ensuing budget, prepaid items (i.e. insurance, seminars, etc.), and unpaid employee benefits (vacation, sick leave severance). In 1997, the total reserves surpassed the requirements by $307,000. The City Council discussed the designation of these dollars at the last work session and determined the preliminary percentages: Finance hardware/software 30% Parks playground equipment 50% Road reconstruction 10% Contingency fund 10% Ms. Vaske stated that she redefined the numbers to decrease the finance percentage and added the difference to a personal contingency, which could be used for union contract settlements, severance, etc., that was not included in the 1998 budget. Ms. Vaske recommended that Resolution No. 98 - 68 be adopted. Mayor Sullivan explained that the City had $125,000 additional revenue from the Public Works fund due to a quiet winter. Mayor Sullivan noted that the funds spent on the Finance Department hardware/software would have been a requirement in the future. The funds spent on the Parks Department playground equipment were very much needed. Road reconstruction was a big issue for the City and it would be helpful to have some funds for road improvement without requiring a citizen's vote. Council Member Bergeson asked if the $307,000 figure was final. Ms. Vaske indicated it was final as of Thursday, May 7, 1998. III Council Member Dahl moved to adopt Resolution No. 98 - 68, as presented. Council Member Neal seconded the motion. Motion carried unanimously. COUNCIL MINUTES MAY 11, 1998 Resolution No. 98 - 68 can be found at the end of these minutes. COMMUNITY DEVELOPMENT REPORT, BRIAN WESSEL Comprehensive Plan Update - Mr. Wessel indicated that a Comprehensive Plan meeting would be held on Thursday, May 21, 1998, 6:00 p.m., at City Hall. It will be held in the work session format, summarizing all of the neighborhood input. Mr. Wessel stated that a recommendation based on all of the neighborhood input would be ready by September, 1998. Mr. Wessel also indicated that details of the vision bus tour will be discussed at this meeting. The Vision bus tour is tentatively scheduled for September, 1998. He encouraged the citizens of Lino Lakes and Council Members to participate. Mayor Sullivan asked if all of the Comprehensive Plan meetings are posted so the citizens and Council Members could participate. Mr. Wessel indicated that the meetings are posted. Council Member Bergeson added that he felt the vision bus tour was an excellent idea. Being able to see things first hand was very helpful. Mayor Sullivan stated that she and Ms. Wyland, Planning Coordinator, had determined a tentative date for the Vision bus tour. She hoped the September 19, 1998, date would be acceptable to the Task Force. ENVIRONMENTAL AND FORESTRY DEPARTMENT, MARTY ASLESON Consideration of Appointing an Environmental Committee Focus Group To Prepare an Inventory and Management Plan, 1998 - Mr. Asleson noted that previously Council gave approval to hire Brauer and Associates and Applied Ecological Services to perform an Environmental Inventory and develop a Management Plan. The City is now ready to proceed with this project. A focus committee is needed to guide the City through the process. Representation is sought from all areas of concern. Mr. Asleson referred to a handout that detailed a list of committee members desired. The committee will end as of January 1, 2000. Mr. Asleson asked the Council to approve the Environmental Committee Focus Group to prepare an Inventory and Management Plan, 1998. Council Member Neal moved to approve the Environmental Committee Focus Group as presented. Council Member Bergeson seconded the motion. Motion carried unanimously. The Environmental Committee Focus Group membership list can be found at the end of these minutes. 4 COUNCIL MINUTES MAY 11, 1998 • CITY ENGINEER'S REPORT, DAVID AHRENS • • Consideration of Resolution No. 98 - 64, Receive Report and Call Hearing on Improvement, Apollo Drive, Phase 3 - Mr. Ahrens explained that on August 11, 1997, the Council ordered the preparation of a feasibility report that investigated the extension of Apollo Drive from its current terminus at Lilac Street to Lake Drive. The report is complete and staff is requesting Council action to receive the report and call a hearing for the improvement at the June 8, 1998, Council meeting. The report studies in detail the extension of Apollo Drive from Lilac Street to Lake Drive. The project is being initiated and administered by the City of Lino Lakes. Upon completion of the project, the roadway will become part of the County highway system. This process was utilized in the previous two (2) phases of Apollo Drive construction. The extension of Apollo Drive has been planned since the first phase of Apollo Drive was studied in 1990. The Apollo Drive, Phase 3, project will increase safety along Lake Drive by increasing the separation between the I -35W southbound ramp and existing Lilac Street. Mr. Ahrens continued stating that the roadway is proposed to match the current width of 52 feet with turning lanes provided at Lake Drive. Regional storm water detention ponds are studied in the report providing storm water management for Apollo Drive and adjacent properties. He noted that project costs and financing are summarized in the report. The project is located in a portion of the City that falls within the provision of Section 8.07 of the City Charter. This section of the Charter states that the construction of local improvements and the levy of special assessments for the financing of the improvements shall be in accordance with Minnesota Statutes rather than Section 8.04 of the City Charter. The exception to this provision is the properties on which single family, owner occupied dwellings exist. In those cases the property owner can file a petition with the City Clerk objecting to the special assessment. Mr. Ahrens informed the Council that they would receive the completed report within a couple of days. Staff recommended that Resolution No. 98 - 64 be adopted. Mayor Sullivan asked if the report would have any changes from what had been discussed in the past. Mr. Ahrens indicated that the storm water management area had been increased. Council will be informed of all the details at the public hearing. He also stated that Ms. Vaske would be involved with the financing as soon as she received the completed report. Council Member Neal questioned the number of homes that the project involved. He also asked if the road went through the VFW property. Mr. Ahrens indicated the project did involve two (2) existing homes, and those property owners are currently working with an appraiser and relocation company. He stated that the road did go through the VFW property. COUNCIL MINUTES MAY 11, 1998 Council Member Neal stated citizens have been inquiring about the project and he would like to keep them better informed. Council Member Bergeson stated that this issue dealt with the street and storm sewer. He questioned if the water issue had been addressed. Mr. Ahrens indicated that the water issue was almost completed, however, it is a separate issue. Council Member Bergeson indicated a concern regarding all the separate issues being completed and coordinated in a timely manner. Mr. Ahrens stated that the City was on schedule and he had been working very closely with the developer of the convenience store regarding the time table for development. Council Member Bergeson moved to adopt Resolution No. 98 - 64, as presented. Council Member Neal seconded the motion. Motion carried unanimously. Resolution No. 98 - 64 can be found at the end of these minutes. OLD BUSINESS - None. NEW BUSINESS Consideration of Minutes, April 27, 1998 (Mayor Sullivan was absent) - Council Member Neal moved to approve the April 27, 1998 minutes, as presented. Council Member Dahl seconded the motion. Motion carried with Mayor Sullivan abstaining. Consideration of Shoreview Joint Powers Agreement, David Pecchia - Mr. Pecchia stated that Council had approved the City communicating with the City of Shoreview and the Council was in agreement with the option that covered the lost investment earnings. The City of Lino Lakes would pay City of Shoreview for connection charges, sewer usage charges, and the penalty option, which included loss investment earnings. Mr. Pecchia announced that the City of Shoreview is currently addressing this subject at the City of Shoreview's workshop. It was relayed to the City of Shoreview's City Manager that the Lino Lakes City Council approved this option and was recommending that the City of Lino Lakes pay the fees regarding this issue, after both City Attorney's review the options. The two (2) City Attorney's would also develop a new agreement which will come before Council in mid-June. Council Member Bergeson noted that the motion made would be subject to approval of the Shoreview City Council. He also indicated he would like the amount of payment specified regarding the accrued interest and lost investment earning. Mr. Pecchia stated the specific figures would be included in the minutes. Council Member Bergeson made a motion to approve the payment of $303,641.62 to the City of Shoreview to make them whole based upon the Shoreview Joint Powers Agreement, subject to review and approval of both City Attorneys, further additional authorization to amend the Joint Powers Agreement, subject to Council approval, and authorize payment of one check for the 6 COUNCIL MINUTES MAY 11, 1998 entire amount of $303,641.62 from the Area and Unit Funds. Council Member Dahl seconded the motion. Motion carried unanimously. Consideration off Hiring Independent Attorney to Survey Audit and Personnel Issues, David Pecchia - Mr. Pecchia stated that Council had authorized a list of four (4) law firms to survey the City audit and deal with personnel issues. Through the selection process, George Hoff was selected to provide the independent reviewal. Through Council approval, George Hoff will provided a list of duties he will perform and the costs of those duties, which will come before Council at the May 20, 1998, Work Session. Council also indicated the firm may begin the investigation immediately and may spend up to $5,000, prior to the May 20, 1998, work session. Mayor Sullivan moved to approve up to $5,000 and accept the recommendation of George Hoff to survey the audit and personnel issues with a specific agreement to be drawn up and brought to the May 20, 1998, Council Work Session, with a review of the audit and issues to begin immediately. Council Member Dahl seconded the motion. Motion carried unanimously. COMMUNITY CALENDAR FOR MAY 11 THROUGH June 1,1998 Trail Committee Meeting, Tuesday, May 12, 1998, 7:00 p.m., Parks Building Neighborhood Meeting, Lake Drive Trunk Utilities, Tuesday, May 12, 1998, 6:00 p.m. • Planning and Zoning Board Meeting, Wednesday, May 13, 1998, 6:30 p.m. Focus Committee, Environmental Management Plan (tentative), Thursday, May 14, 1998, 6:30 p.m. Citizens Advisory Group, Monday, May 18, 1998, 7:00 p.m. D.A.R.E. Graduation, Monday May 18, 1998, 7:00 p.m., Lino Elementary School Friends of the Park Foundation Meeting, Tuesday, May 19, 1998, 7:00 p.m., Parks Building City Council Work Session, Wednesday, May 20, 1998, 5:30 p.m. Senior Citizens Dinner, Wednesday May 20, 1998, 5:30 p.m. Joint Meeting, Hugo, Centerville, White Bear Township, Lino Lakes, Wednesday, May 20, 1998, 7:00 p.m., Hugo City Hall Comprehensive Plan Meeting, Thursday, May 21, 1998, 6:00 p.m. D.A.R.E. Graduation, Thursday, May 21, 1998, 7:00 p.m., Rice Lake Elementary School COUNCIL MINUTES MAY 11, 1998 City Hall Closed in Observance of Memorial Day, Monday, May 25, 1998 City Council Meeting, Tuesday, May 26, 1998, 6:30 p.m. Mayor's Coffee, Tuesday, May 26, 1998, 7:30 a.m. Mayor's Round Table, Monday, June 1, 1998, 7:00 p.m. ADJOURN There being no further business, Council Member Bergeson moved to adjourn at 7:50 p.m. Council Member Neal seconded the motion. Motion carried unanimously. These minutes were considered and approved at the regular Counci n() Marilyn Anderson, Clerk -Treasurer Transcribed by: Kim Points TimeSaver Off Site Secretarial, Inc. 8 eeting, May 26, 1998. rly A 1 Sullivan, Mayor • • • Environmental Committee Focus Group Inventory and Management Plan 1998 We have scheduled the first focus meeting for the starting of our environmental study to inventory and develop a management plan. Because of your interest in the environmental issues of Lino Lakes, we would like you to be involved in this important focus. The first meeting is scheduled for Thursday the 14th of May at 6:30 P.M. at Lino Lakes City Hall, 1189 Main Street. We would like all concerned representatives at this initial focus meeting, and you are certainly welcome to come to all of the up -coming meetings. Environmental Committee: Maurine Davidson Amy Donlin Rod Kukonen Eugene Lane J.P. Houchins Mike Trehus Lori Frisk - Thompson Art Hawkins Council Member Chris Lyden - Liaison Mike Trehus — P&Z Paul Mountain - Park Board and land -owner representation Gary Udhe — Development Economic Development- Brian Wessel Merrideth Corneae — Minnesota Department of Natural resources. City Council — Chris Lyden Engineering —Dave Ahrens /Michael Krech Watersheds Rice Creek — Kate Drewry / Tony Brough VALAMO — Stephanie McNamara / Rocky Keehn Anoka County Parks — John VonDelinde/Jeff Perry Interested Residents Council Member Bergeson introduced the following resolution and moved its adoption: CITY OF LINO LAKES RESOLUTION NO. 98 - 64 RESOLUTION RECEIVING REPORT and CALL HEARING ON IMPROVEMENT - APOLLO DRIVE, PHASE 3. WHEREAS, pursuant to resolution of the Council adopted August 11, 1997 a report has been prepared by SEH, Inc., with reference to the improvement of Apollo Drive by constructing street, curb and gutter and storm sewer, and this report was received by the council on May 11, 1998, and, WHEREAS, the report provides information regarding whether the proposed project is necessary, cost-effective, and feasible, NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LINO LAKES, MINNESOTA: 1. The Council will consider the improvement of such streets in accordance with the report and the assessment of abutting property for all or a portion of the cost of the improvement pursuant to Minnesota Statutes, Chapter 429 and the Lino Lakes City Charter at an estimated total cost of the improvement of $520,000. 2. A public hearing shall be held on such improvement on the 81h day of June, 1998, in the council chambers of the city hall at 6:30 p.m. and the clerk shall give mailed and published notice of such hearing and improvement as required by law. Adopted by the City Council this 11th day o ‘;'))"_/7'a..4.<ke.p.41. (12)ittL-' 2iNo)- Marilyn G. Anderson Clerk -Treasurer ullivan, Mayor The motion for adoption of the foregoing resolution was duly seconded by Council Member Neal and upon vote being taken thereon, the following voted in favor thereof: Bergeson, Dahl, Neal, Sullivan. The following voted against same: none, Council Member Lyden was absent. Whereupon said resolution was declared passed and adopted. • • • • Council member Neal move its adoption: introduced the following resolution and CITY OF LINO LAKES RESOLUTION NO. 98-65 RESOLUTION TRANSFERRING DOLLARS FROM VARIOUS FUNDS TO AID IN THE CONSTRUCTION OF CITY HALL AND POLICE STATION WHEREAS, funds are dollars are available in various funds, and WHEREAS, the City Council has authority to use these funds for use they see fit, and WHEREAS, the utility funds will be reimbursed their contribution at time of sale of the current Police Station land, and WHEREAS, the amount to be transferred is $2,700,000. NOW THEREFORE BE IT RESOLVED, that the following transfers be authorized and that the Apollo Drive Construction Fund and the Industrial Park Fund be closed: Increase Decrease Civic Ctr Construction Fund (432) $2,700,000 Area and Unit Fund (406) (500,000) Surface Water Management Fund (422) (250,000) Closed Bond Fund (301) (954,492) Apollo Drive Construction Fund (452) (336,498) Industrial Park Fund (451) (479,010) Water Operating (601) ( 90,000) Sewer operating (602) ( 90,000) Adopted by the City Council of Lino Lakes this 11th d `�Yj c jam. l . , /z r, � t. Marilyn G. Anderson, Clerk Treasurer y May,, livan - Mayor The motion for the adoption of the foregoing resolution was duly seconded by Council Member Bergesonand upon vote being taken thereon, the following voted in favor thereof: Bergeson, Dahl, Neal, Sullivan. RESOLUTION NO. 98 - 65 Page -2- Page 2 The following voted against same: none, Council Member Lyden was absent. Where upon said resolution was declared duly passed and adopted: 414. • • • Council Member Bergeson introduced the following resolution and moved its adoption: CITY OF LINO LAKES RESOLUTION NO. 98-66 RESOLUTION RELATING TO FINANCING OF CERTAIN PROPOSED PROJECTS TO BE UNDERTAKEN BY THE CITY OF LINO LAKES; ESTABLISHING COMPLIANCE WITH REIMBURSEMENT BOND REGULATIONS UNDER THE INTERNAL REVENUE CODE WHEREAS, the City of Lino Lakes is in the practice of constructing certain improvements and in some instances reimbursing itself for the cost of any portion of the improvements with bond proceeds, and WHEREAS, the Internal Revenue Service has issued proposed Treasury Regulations Section 1.103-17 (as proposed and/or finally adopted, the "Regulations") dealing with the issuance of bonds where all or a portion of the proceeds are to be used to reimburse the City for any project costs paid by the City prior to the time of the issuance of the bonds, and WHEREAS, the Regulations generally required that the City make a prior declaration of its official intent to reimburse itself for such prior expenditures out of the proceeds of a subsequently issued taxable or tax exempt borrowing, that such declaration generally be made prior to but not more than two years before the time the expenditure is actually paid, that the borrowing occur and the reimbursement allocation be made from the proceeds of such borrowing within one year of the payment of the expenditure or, if longer, within one year of the date the project is placed in service, and the expenditures relate to property having a reasonably expected economic life of at least one year. NOW THEREFORE BE IT RESOLVED by the City Council of the City of Lino Lakes, Anoka County, Minnesota, that: 1. Official Intent - The City desires to comply with requirements of the Regulations with respect to certain projects hereinafter identified. a. The City proposed to undertake the following projects: Construction of a City Hall, Police Station, & Early Childhood Learning Center, and purchase of park land for an athletic complex, which are further described on Exhibit A attached hereto. b. Other than costs to be paid or reimbursed from sources other than a tax-exempt borrowing or costs permitted to be reimbursed pursuant to the transaction provision of section 1.103-17(1) of the Regulations, none of the costs of the foregoing projects as identified on Exhibit A has heretofore been paid by the City and none of the costs will be paid by the City until after the date to this Resolution. Each of the projects and costs related thereto, constitutes property having a useful life of at least one year. • Resolution No. 98 -66 Page 2 c. The City intends to reimburse itself for the payment of the designated project costs out of the proceeds of a tax exempt bond issue, debt or similar borrowing (the "Bonds") to be issued by the City after the date of payment of all or a portion of the costs. Pending the issuance of the Bonds, the City reasonably expects to pay and temporarily finance the costs from the following source of sources of funds identified on Exhibit A. d. The Bonds are proposed to be issued by the City pursuant to the provisions of Minnesota Statutes, Chapter 475, and other applicable statutory authority. The reasonably expected sources of funds to be used by the City to pay the debt service on the Bonds are identified on Exhibit A. 2. Budgetary Matters - As of the date hereof, there are no City funds reserved or otherwise allocated pursuant to the City's budget (or expected to be reserved or allocated pursuant to the City's budget) to provide permanent financing for the bonding portion of the project costs, other than pursuant to the issuance of the Bonds. Furthermore, there has been no allocation, budgeting, or restriction of moneys (or the adoption of a requirement or policy to reimburse a fund) as part of the City's budgetary process, the primary purpose of which is to prevent moneys from said sources from being available for the permanent financing of the cots of the projects. This resolution, therefore, is determined to be consistent with the City's budgetary and financial circumstances as they exist or are foreseeable on the date hereof, all within the meaning and content of the Regulations. 3. Filing - This resolution shall be filed in the publicly available official books, records, or proceedings of the City, which shall be continuously available for inspection by the general public. This resolution shall be available for inspection at City Hall during normal business hours of the City on every business day the period beginning on the earlier of 10 days after the adoption hereof or the date of issuance of the reimbursement bonds and ending on the day after the issuance of such bonds. 4. Reimbursement Allocation - The City's financial officer shall be responsible for making the "reimbursement allocations" described in the Regulations, being generally the transfer of the appropriate amount of proceeds of the Bonds to reimburse the source of temporary financing used by the City to make payment of the prior costs of the projects. Each allocation shall be evidenced by an entry on the official books and records of the City maintained for the Bonds, shall specifically identify the actual prior expenditure being reimbursed, and shall be effective to relieve the proceeds of the Bonds from any restriction under the bond resolution or other relevant legal documents for the Bonds, and under any applicable state or federal statute, which would apply to the unspent proceeds of such bond issue. • • • • • Resolution No. 98 -66 Page 3 Adopted by the City Council this 11th day of May, 19 Marilyn C3. Anderson Clerk -Treasurer erly A. Sullivan, Mayor The motion for adoption of the foregoing resolution was duly seconded by Council Member Dahl and upon vote being taken thereon, the following voted in favor thereof: Bergeson, Dahl, Neal, Sullivan. The following voted against same: none, Council Member Lyden was absent. Whereupon said resolution was declared passed and adopted. • • • RESOLUTION NO. 98 - 66 INTENT TO BOND EXHIBIT A g ESTIMATED COST TO BE REIMBURSED SOURCE OF SOURCE OF AMOUNT OF FROM BOND FUNDS TO PAY FUNDS TO PAY FUNDS TO PROJECT DESCRIPTION TOTAL COST PROCEEDS BONDS BONDS PAY BONDS City Hall, Police, Early $ 5,500,000 $ 5,500,000 Lease Agreement Property Taxes $ 5,500,000 Childhood Athletic Complex land $ 1,000,000 $ 1,000,000 Property Taxes $ 1,000,000 TOTAL $ 6,500,000 $ 6,500,000 $ 6,500,000 • Council member Dahl introduced the following resolution and move its adoption: • • CITY OF LINO LAKES RESOLUTION NO. 98-67 RESOLUTION APPROVING ANNUAL TRANSFERS FROM TAX INCREMENT FUND 3-1 TO AREA & UNIT FUND, CLOSED BOND FUND AND SURFACE WATER MANAGEMENT FUND FOR ASSESSMENT PAYMENTS FOR GNW MECHANICAL WHEREAS, T.I.F. assistance was given to GNW Mechanical for assessments, and WHEREAS, assessments owed to the City are to be paid with tax increments received, and WHEREAS, the City Tax Increment attorney has suggested an assessment schedule based on the estimated term of the district, and WHEREAS, the City has developed the assessment schedule with a 10% interest rate, and WHEREAS, the schedule may be altered as increment is received. NOW THEREFORE BE IT RESOLVED, that the attached assessment schedule transfer be approved. Adopted by the City Council of Lino Lakes this 1 M�CL N J L e'1 ` 7 a itY n G. Anderson, Clerk Treasurer d/i( ullivan - Mayor The motion for the adoption of the foregoing resolution was duly seconded by Council Member Neal and upon vote being taken thereon, the following voted in favor thereof: Bergeson, Dahl, Neal, Sullivan. The following voted against same: none, Council Member Lyden was absent. Where upon said resolution was declared duly passed and adopted: City of Lino Lakes Assessment Schedule GNW Mechanical Estimated End Date 2002 Principal 29,947 Interest rate 10% Number of Years 5 Principal Area & Unit Principal Interest Total Remaining 1998 5,989 2,995 8,984 23,958 1999 5,989 2,396 8,385 17,968 2000 5,989 1,797 7,786 11,979 2001 5,989 1,198 7,187 5,989 2002 5,989 599 6,588 0 Total Principal Interest rate Number of Years 29,947 8,984 38,931 51,799 10% 5 Principal Bond Fund Principal Interest Total Remaining 1998 10,360 5,180 15,540 41,439 1999 10,360 4,144 14,504 31,080 2000 10,360 3,108 13,468 20,720 2001 10,360 2,072 12,432 10,360 2002 10,360 1,036 11,396 0 Total Principal Interest rate Number of Years 51,799 15,540 25,552 10% 5 67,339 Principal Surface Water Principal Interest Total Remaining 1998 5,110 2,555 7,666 20,442 1999 5,110 2,044 7,155 15,331 2000 5,110 1,533 6,644 10,221 2001 5,110 1,022 6,133 5,110 2002 5,110 511 5,622 0 Total 25,552 7,666 33,218 1998 21,460 10,730 32,190 85,839 1999 21,460 8,584 30,044 64,379 2000 21,460 6,438 27,898 42,919 2001 21,460 4,292 25,752 21,460 2002 21,460 2,146 23,606 0 107,299 32,190 139,488 • • Council member Dahl introduced the following resolution and move its adoption: CITY OF LINO LAKES RESOLUTION NO. 98-68 RESOLUTION DESIGNATING GENERAL FUND FUND BALANCE FOR THE YEAR ENDED DECEMBER 31, 1997 WHEREAS, fund balances need to be designated, and WHEREAS, the City Council has determined priorities to designate funds, and WHEREAS, the amount to designate is $307,304. NOW THEREFORE BE IT RESOLVED, that the following designations be authorized effective December 31, 1997. Purchase of Finance Computer software/hardware Parks playground equipment Road Reconstruction Personnel Contingency $ 73,750 153,652 30,730 49,172 Total $307,304 Adopted by the City Council of Lino Lakes this 11t 1 0 ,..� . . n� 1' /L.Q(i)1. Maril n G. Anderson, Clerk Treasurer da of May, 19'8. Ki u ivan - Mayor The motion for the adoption of the foregoing resolution was duly seconded by council Member Neal and upon vote being taken thereon, the following voted in favor thereof: Berteson, Dahl, Neal, Sullivan. The following voted against same: none, Council Member Lyden was absent. Where upon said resolution was declared duly passed and adopted: