Laserfiche WebLink
LAKE ELMO CITY COUNCIL MINUTES FEBRUARY 21, 1.989 PAGE 11 <br />institution. The lowest interest rate to borrow this money would be <br />about 11% depending on date of settlement. If the city would invest <br />this $50,000 today, the highest rate we could get is 9.5% for a 1 year <br />investment, therefore, it would be beneficial to issue an Equipment <br />Certificate to ourselves and pay "us" 9.5% interest, the same as we <br />would be getting from a one year C.D.. This will also save the City <br />any bonding costs through issuance of an Equipment Certificate from a <br />lending institution. <br />Maintenance Foreman, Dan Olinger, will bring in the truck specs at the <br />next Council meeting. <br />M/S/P Williams/Graves - to approve Resolution 89-11: Resolution <br />providing for the issuance and sale of a $50,000 General Obligation <br />Equipment Certificate of Indebtedness of 1989 and Levying a Tax for <br />the Payment. (Motion carried 4-0). <br />B. Acoustics; Council Chambers <br />Mayor Dunn advised the Council Dr. Parvis Mahmoodi of 3M will come out <br />and determine appropriate actions and materials needed to eliminate <br />the acoustic problem in the Council chambers of the City Hall. Mayor <br />Dunn will report back to the City Council. <br />C. Proposed. Ord: Amending Section 203 incorporating Use of <br />Robert's Rules of Order <br />At the Council direction a proposed ordinance amendment which would <br />incorporate the useage of Robert's Rules of Order for Council <br />proceedings was provided for Council review. <br />In the last paragraph, delete words "as to" and insert "by". <br />M/S/P Hunt/Graves - resolved that the Council hereby approved the <br />recommended Ordinance; to include aboved stated change, amending <br />Section 203 of the Ctty Code by incorporating Robert's Rules of Order <br />into Council proceedings. (Motion carried 4-0). <br />D. Approval of Planning Contract <br />Councilman Williams brought up his concern on no terms specified in <br />the contract. Morrison responded, as with the other city consultants, <br />this contract is up for renewal every year. <br />M/S/P Graves/Hunt - resolved that the Council hereby approves the <br />Agreement for Professional Services, between the City of Lake Elmo and <br />Mike Black of James R. Hill, Inc, for the calendar year of. 1989, with <br />hourly fees as stated in the July 1988 rate schedule. (Motion carried <br />4-0). <br />E. Request for Expenditures for Maps for the Comp Plan <br />Administrator Morrison, with consensus approval by the PZ, asked for <br />authorization for spending up to $3,000, taken out of the Planners <br />fee, for maps from Washington. County for insertion into the Comp Plan. <br />