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* The Chief met with Ray Long last week and welcomed him to <br /> the Police Commission. <br /> * The COPS Task Force met again this week----Many issues were <br /> discussed. Diane and the Chief plan to meet with Council in April to update. <br /> Tim R. <br /> FINANCE <br /> • Economic Development Activities Early 1970's. <br /> On December 1, 1972 the Village of Mounds View issued $1,500,000. of <br /> Industrial Development Revenue Bonds. The bond proceeds were used to <br /> acquire land and to construct a trucking storage and operating terminal in the <br /> Village's industrial park. Under terms of the agreements entered into, the <br /> Village owned the property and the facility and leased it to MFJ <br /> Company(tenant) and Century Motor Freight(sub-tenant). MFJ was required <br /> to pay bond principal and interest through 1997. In November 1994, MFJ <br /> Company exercised their option to prepay the bonds. Pursuant to the lease <br /> the City is then required to sell the property to MFJ Company for $1 .00. I <br /> think we should hold out for a better offer! In any event, James O'Meara of <br /> Briggs & Morgan will be handling the legal work. Pursuant to the lease his <br /> expenses will be paid by MFJ Company. <br /> • Last Friday Finance Department Staff met with Kurt Johnson and Mary <br /> Saarion to discuss the receipting, safe handling, and depositing of Golf <br /> Course revenues. Proposed procedures will be reviewed with the City's <br /> auditors prior to implementation. <br /> • Work continues on preparation of the Comprehensive Annual Financial <br /> Report and audit workpapers and schedules by all members of the <br /> Department. <br /> Don <br />