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September 11, 1978 Page 9 <br />MAYOR PICKAR'S REPORT <br />Mayor Pickar had no report. <br />CITIZENS COMMENTS AND REQUESTS (CONTINUED) <br />Mr. Loeding asked the advantages of an industrial revenue bond versus a general bond. <br />Attorney Meyers replied that the Legislature has allowed municipalities to issue tax <br />free bonds to encourage business in the cities, and that the type of bond is solely <br />dependent upon the type of business. He added that Projects 1978 -3 and 1978 -4 are <br />not industrial revenue bonds, and that industrial revenue bonds have nothing to do with <br />public improvement projects. <br />Mr. Loeding stated he felt there was a de facto policy to encourage development with <br />industrial revenue bonds. <br />MSP (Ziebarth- Hodges) to adjourn the meeting at 10:22 PM. <br />Respectfully submitted, <br />Mark Achen <br />Clerk- Administrator <br />