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Mounds View City Council October 25, 1999 Regular Meeting Page 19 Council Member Stigney stated he had no objection to proceeding in this manner, as long as they will also look at other funding sources, so they are not just completely ignored. He stated the residents of the City and the Council should choose the preferred method of all. Mayor Coughlin stated the Council has discussed this matter, and it was the consensus to pursue the Economic Development Fund, because it is farthest away from the taxpayers, and they were attempting to stay as far as possible from involving any taxpayer dollars in this matter. Council Member Stigney stated he had no objections to this, however, he did not want to "close the door" on other avenues of revenue. Mayor Coughlin explained the consensus of the Council was to "close the door" and move forward with a plan. Council Member Stigney explained they do not have the plan. He stated the "big plan" is not yet determined. City Administrator Whiting explained that staff can research other sources of funding. He pointed out, however, a meeting for the future of the Economic Development Fund and TIF accounts between the EDA and EDC is still in order, and if after that point, that board sees fit to accept this option, it will proceed. Mayor Coughlin clarified the specific motion is to move ahead and direct staff to conduct their research under the assumption that the end result will be the Economic Development Fund, and to work in that vein, however, not to "close the door"on other sources of funding. Council Member Stigney stated this was acceptable. City Administrator Whiting explained this funding source would be farthest from the General Fund, however, these funds are generated by the taxpayers in the TIF District. Council Member Stigney inquired if this funding was to offset the bonding issue or the development issues at the golf course. Finance Director Kessel advised that these funds were to offset the bond reserves. He explained that the City does not have sufficient resources to cover the bond. Mayor Coughlin explained that because of the funding structure at the golf course, there is a short term deficit in that bond fund, and this needs to be offset, and will be paid back in full, when the golf course gets out from underneath the bond fund. Ayes—4 Nays—0 Motion carried. E. Anoka County-Blaine Airport Advisory Commission Appointees. City Administrator Whiting stated staff has advertised openings for two individuals to represent Mounds View on a 16-member board, along with three other cities, representing various airport issues. He stated staff has not received any applicants for these positions, at this time, and advised that the Council may make these appointments, if they so choose.