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Mounds View EDA December 11, 2000 <br />Regular Meeting Page 4 <br /> <br />redemption period. <br /> <br />President Coughlin clarified that the borrower would need to pay the amounts due including <br />interest. <br /> <br />Economic Development Director Parish indicated Staff has set aside approximately $71,400 in <br />TIF funds to purchase the Sheriff’s Certificate. <br /> <br />Commissioner Thomas made a point of order clarification indicating Council had voted on the <br />motion to amend concerning 00-eda-138 but not the original motion. <br /> <br />Vote on Motion to Approve Resolution 00-EDA-138. <br /> <br /> Ayes – 5 Nays – 0 Motion carried. <br /> <br />MOTION/SECOND. Quick/Marty. To Approve Resolution 00-EDA-139, a Resolution <br />Authorizing the Expenditure of TIF Funds to Purchase the Sheriff’s Certificate for 2345 County <br />Road H2. <br /> <br /> Ayes – 5 Nays – 0 Motion carried. <br /> <br />6. REPORTS <br /> <br />President Coughlin reported he and Mayor-Elect Sontarre had attended a meeting of the <br />Economic Development Commission where use of the TIF funds was discussed. It was the <br />consent of the Commission to create a fund to let the funds sit in until the issues are resolved. <br /> <br />President Coughlin reported Rosemary Goff had resigned from the Economic Development <br />Commission. He thanked her for her years of service to the City. <br /> <br />7. ADJOURNMENT <br /> <br />President Coughlin adjourned the meeting at 8:56 p.m. <br /> <br />Respectfully submitted, <br /> <br /> <br /> <br />Recorded and transcribed by: <br />Joan Lenzmeier <br />TimeSaver Off Site Secretarial, Inc.