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Mounds View EDA August 11, 2003 <br />Regular Meeting Page 2 <br /> <br />Finance Director Hansen indicated that the primary reason for that is the debt service payments. <br />He then explained that one of the districts had its final debt service payment in February and <br />going forward there should be a surplus. <br /> <br />Commissioner Marty arrived at 6:37 p.m. <br /> <br />City Administrator Ulrich indicated that Finance Director Hansen had prepared the report for the <br />first time using new software which means going forward providing the information should be <br />less time consuming. He then commended him for his work on the new software and for being <br />able to provide a service to the City that had previously been contracted out. <br /> <br />B. Resolution 03-EDA-176, a Resolution Authorizing Payment of Pay-As-You- <br />Go Development Payments to Red Cent Management, L.L.C.; Heartland- <br />Mounds View Common Bond; Bridges Leasing Company; and Kenmark <br />Partnership, L.L.P. <br /> <br />Economic Development Coordinator Backman provided a brief overview of the pay-as-you -go <br />payments for the Authority. <br /> <br />MOTION/SECOND: Marty/Quick. To Waive the Reading and Approve Resolution 03-EDA- <br />176, a Resolution Authorizing Payment of Pay-As-You-Go Development Payments to Red Cent <br />Management, L.L.C.; Heartland-Mounds View Common Bond; Bridges Leasing Company; and <br />Kenmark Partnership, L.L.P. <br /> <br /> Ayes – 5 Nays – 0 Motion carried. <br /> <br />7. REPORTS <br /> <br />None. <br /> <br />8. NEXT EDA MEETING: August 25, 2003 <br /> <br />9. ADJOURNMENT <br /> <br />President Linke adjourned the meeting at 6:39 p.m. <br /> <br />Respectfully submitted, <br /> <br />Recorded and transcribed by: <br /> <br />Joan Lenzmeier <br />TimeSaver Off Site Secretarial, Inc.