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A <br /> MEMO TO: MAYOR AND CITY CO <br /> FROM: CLERK-ADMINISTRAT*� /ip <br /> t. <br /> DATE: APRIL 18, 1990 <br /> SUBJECT: MOUNDS VIEW BRANCH LIBRARY ASSESSMENT INTEREST <br /> WAIVER REQUEST <br /> As you may recall, several months ago you reviewed a request <br /> from Mr. Gary Davis representing Ramsey County and the Ramsey <br /> County Library Board requesting that the City Council waive <br /> the collection of interest on the assessments for the Mounds <br /> View Branch Library property. Mr. Davis indicated that the <br /> interest was due and payable due to the fact that the closing <br /> on the purchase of the property occurred after October 16 of <br /> 1989 and, as a result, the Library Board was expected to pay <br /> an additional $2,933.74 in interest. Attached for your <br /> information is a copy of a letter from Mr. Davis in response <br /> to your request for additional information outlining the <br /> details in this matter. <br /> • I have discussed the matter with City Finance Director Don <br /> Brager who has advised me that the debt service on this <br /> project is more than adequately funded and the interest amount <br /> of $2,933.74 is not needed to guarantee the retirement of the <br /> debt on the bonds that paid for the initial public improvement <br /> project. Your direction with respect to this matter would be <br /> appreciated. <br /> DFP/mjs <br /> i <br />