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LAKE ELMO CITY COUNCIL MEETING MAY 5, 1981 -4- Mottaz requested delaying action on this request until the next meeting when he will have more information on the Revenue Bond Act. Eder reviewed the Act and the different types of bond issues. Don Raleigh explained that the City assumes no liability and that the bond counsel and the financial advisor verifies the financial stability of the firm soliciting the bonds. The bond counsel, Dorsey Firm, drafted the preliminary resolution. Mr. Raleigh said that Lake Elmo State Bank and First National of Stillwater are the lending agents. The Administrator will have.Eckberg & Lammers review the resolution and send a letter to the bonding company indicationg that the bonds are good and all the City work is complete. There were no public comments on the proposal. Mayor Eder closed the hearing at 8:57 p.m. Eder stated that the First National Bank of Stillwater has no affiliation with the First Bank of St. Paul, where he is an officer; and noted his familiarity with Revenue Bonds is through his bank's handling of these types of bonds. Since the Council had.not received a copy of the preliminary resol- ution, they asked the Brookfield representatives for time to review the document and deferred action until 9:15. FIRE CHIEF REPORT: A. New Officers - Chief Kuettner introduced the newly elected officers. Jerome Eder was elected Assistant Chief. Vehicle Captains include Richard Sachs, Al Kupperschmidt, Fran Pott, Ronald Johnson and William Wacker. Jim Beers is Station Captain. B. Annual Report - Chief Kuettner reported that there were 133 fire calls uc� ring 1980, about twice as many as last year. He listed the type of calls and the estimated financial loss. The main reason for the increase was rescue calls. C. Grass Rig - New tires and springs will be needed for the rig. Two bids ave been received on the tires, one for $480 and one for $485. Springs will cost about $500. $1000 has been appropriated for repair of the vehicle. D. Social Event Funds - Money from social events, sponsored by the Fire Department, are used to purchase miscellaneous equipment and pay for the Firemen's Christmas Party. $1,200 was used to purchase a truck radio. E. Accept Telesquirt - Chief Kuettner reported that the hose mounting bracket, as specifie on the bid specs, was not provided with the truck. The Chief said this equipment is necessary. The Administrator will instruct the staff to withhold payment on the truck until the Chief is satisified that all the specified equipment is received.