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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. 46 <br />He then explained that one of the districts had its final debt service payment in February and 47 <br />going forward there should be a surplus. 48 <br /> 49 <br />Commissioner Marty arrived at 6:37 p.m. 50 <br /> 51 <br />City Administrator Ulrich indicated that Finance Director Hansen had prepared the report for the 52 <br />first time using new software which means going forward providing the information should be 53 <br />less time consuming. He then commended him for his work on the new software and for being 54 <br />able to provide a service to the City that had previously been contracted out. 55 <br /> 56 <br />B. Resolution 03-EDA-176, a Resolution Authorizing Payment of Pay-As-You-57 <br />Go Development Payments to Red Cent Management, L.L.C.; Heartland-58 <br />Mounds View Common Bond; Bridges Leasing Company; and Kenmark 59 <br />Partnership, L.L.P. 60 <br /> 61 <br />Economic Development Coordinator Backman provided a brief overview of the pay-as-you-go 62 <br />payments for the Authority. 63 <br /> 64 <br />MOTION/SECOND: Marty/Quick. To Waive the Reading and Approve Resolution 03-EDA-65 <br />176, a Resolution Authorizing Payment of Pay-As-You-Go Development Payments to Red Cent 66 <br />Management, L.L.C.; Heartland-Mounds View Common Bond; Bridges Leasing Company; and 67 <br />Kenmark Partnership, L.L.P. 68 <br /> 69 <br /> Ayes – 5 Nays – 0 Motion carried. 70 <br /> 71 <br />7. REPORTS 72 <br /> 73 <br />None. 74 <br /> 75 <br />8. NEXT EDA MEETING: August 25, 2003 76 <br /> 77 <br />9. ADJOURNMENT 78 <br /> 79 <br />President Linke adjourned the meeting at 6:39 p.m. 80 <br /> 81 <br />Respectfully submitted, 82 <br /> 83 <br />Recorded and transcribed by: 84 <br /> 85 <br />Joan Lenzmeier 86 <br />TimeSaver Off Site Secretarial, Inc. 87