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i Ms. Olson asked where the funding is coming from for the revenue bonds where the interest is all that's been paid. City Administrator Whiting stated he is unable to answer that question but has i 3, a schedule that contains that information. He explained that in predicting cash flows through the period of the bonds, it was felt there would be enough to pay off the bonds. City Administrator Whiting explained that one of the ongoing concerns is whether there are enough funds and what happens if something goes wrong. That resulted in discussion if something should be done to enhance the golf course, which may include additional debt. He stated that this is something contemplated but not yet discussed fully by the City Council. Ms. Olson requested fiscal documentation on the golf course. She noted they are general obligation bonds which could become a potential liability for residents to pay off. She requested clarification if they are general obligation bonds or revenue bonds and if there would be any obligation against the residents. City Administrator Whiting advised that the audit report, including the golf course, will be discussed at the work session next week and at the regular Council meeting the week after. He stated the City's obligation will be to pay off the bonds and the golf course is an extension of the City so the City would be responsible for any shortfalls should that occur. Ms. Olson asked if the separate underlying debt for the golf cart expenditures and payments are . also coming from golf course revenue. City Administrator Whiting stated that all golf course expenses are paid by the golf course. Ms. Olson asked about the approximate bond payment per year and requested that information. City Administrator Whiting stated that it will be included in the audit report. There were no other requests or comments from the floor. 9. COUNCIL BUSINESS A. Public Hearing 7:05 -For the Introduction and First Reading of Ordinance 629 an Ordinance Amending Chapter 401 of the Mounds View Municipal Code Pertaining to the Planning and Zoning Commission Mayor Coughlin closed the regular meeting and opened the public hearing at 7:48 P.M. Hearing no public comments, Mayor Coughlin closed the public hearing and reopened the regular meeting at 7:48 P.M. MOTION/SECOND: Thomason/Stigney. To introduce and approve first reading of Ordinance 629, an Ordinance Amending Chapter 401 of the Mounds View Municipal Code Relating to the Planning and Zoning Commission of Mounds View, Special Planning Case SP-069,99, and to schedule second reading of the Ordinance for the May 10, 1999 regular Council meeting. 7 U:\CARIS\COUNCIL\MINUTES\MVCC26.APR