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October 10, 1978 Page 6 Mayor Pickar closed the public hearing and reopened the regular meeting. INDUSTRIAL REVENUE BONDING MIDWAY INDUSTRIAL SUPPLY AND THESENGA LAND DEVELOPMENT Richard Martin, bonding agent representing Midway Industrial and Thesenga, stated that they were before the Council tonight for final Council action to authorize the closing of the transactions. He added that he would like to reiterate that the City would not be liable for payment of the industrial revenue bond, should the two companies default. Attorney Meyers read the statute regarding industrial revenue bonds. He also ex- plained that in the past, the City had billed Century Motor Freight for any work undertaken by the City on the bond and that he would like to inform Midway Industrial Supply and Thesenga Land Corporation that they will be billed for any future costs incurred by the City. Attorney Meyers also stated that the only liability the City would experience if there should be a default on the bond would be the bad publicity. He added that there is no other risk to the City. MSP (Baumgartner- Hodges) to approve Resolution #940 for Midway Industrial Supply's bond. 4 ayes MSP (Pickar - Rowley) to approve Resolution #941 for Thesenga Land Corporation's bond. 4 ayes STREET LIGHT REQUEST - GREENFIELD AVENUE NORTH OF HILLVIEW ROAD Administrator Achen reported that Staff has examined the property, as well as the Police Department, who's recommendation was that there was nothing unusual about the lighting on the block. He added that Staff recommends that the Council autho- rize Staff to prepare a policy on street lighting, since the street lighting cost is quite substantial, and Staff feels the money should be spent as wisely as possi- ble. He added that Staff expects the proposed policy to be submitted by the end of November. Administrator Achen explained that if Council does delay action, it would most likely delay the installation of a light until next spring. Mayor Pickar stated that NSP is behind considerably now in putting in lights. Administrator Achen added that this light would involve quite a bit of work with the installation. MSP (Pickar- Baumgartner) to order the City to make the study on street lighting and report back to the Council in order to be able to take action on the request at the December 11 meeting. 4 ayes Mayor Pickar explained that the light is not being denied at this time but only postponed until a study can be completed. Councilmember Baumgartner asked that Mr. Cardell, who had requested the light, be informed of the postponement. ADMINISTRATOR ACHEN'S REPORT Administrator Achen reported on the candidates who had filed for election for Mayor and Council.