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13. Finance Director's Report <br />A. Resolution authorizing signatures on Lake Elmo Bank accounts. <br />M/S/P DeLapp/Armstrong - to approve Resolution No. 2001- the addition of Terry J. Berg to the <br />signature cards at Lake Elmo Bank. <br />(Motion Passed 5-0). <br />B. Resolution declaring intent to reimburse expenditures from water <br />improvements project. <br />Finance director Berg stated the City intended to sell revenue bonds to fund the various water <br />improvements scheduled for 2001 and 2002. She noted the law provides that the City may be <br />reimbursed for expenditures, but a resolution needs to be adopted for this to occur. <br />M/S/P Dunn/Siedow - to adopt Resolution No. 2001-057, approving City intent to <br />reimburse for certain expenditures associated with the water improvements project. <br />(Motion Passed 5-0). <br />C. Resolution declaring intent to reimburse expenditures from street projects for <br />501' Street and 1511' Street. <br />M/S/P Dunn/Siedow - to adopt Resolution No. 2001-058, approving City intent to <br />reimburse for certain expenditures associated with the 50`h Sheet and 15'h Street <br />improvement projects. <br />(Motion Passed 5-0). <br />Mayor Hunt adjourned the meeting at 8:50 p.m. <br />Respectfully submitted, Cynthia Young - Secretary <br />City Council Minutes Tuesday, August 7, 2001 page 7 <br />