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Mounds View City Council September 9, 2002 <br />Regular Meeting Page 5 <br /> <br />D. Public Hearing, First Reading and Consideration of Ordinance 704, Implementing <br />a Franchise Fee on Reliant Energy Natural Gas Operations within the City of <br />Mounds View for the Year 2003. <br /> <br />Mayor Sonterre opened the public hearing at 7:36 p.m. <br /> <br />Finance Director Hansen indicated this Ordinance would continue the franchise fee on Reliant <br />Energy operations within Mounds View for the year 2003. <br /> <br />Mayor Sonterre closed the public hearing at 7:37 p.m. <br /> <br />MOTION/SECOND: Stigney/Quick. To Waive the Reading and Introduce the First Reading of <br />Ordinance 704, an Ordinance Implementing a Franchise Fee on Reliant Energy Natural Gas <br />Operations within the City of Mounds View for the Year 2003. <br /> <br />Council Member Stigney commented that this would continue the 4% franchise fee on Reliant <br />customers. <br /> <br /> Ayes – 4 Nays – 0 Motion carried. <br /> <br />E. Resolution 5840 Establishing Public Hearing Dates for the Proposed General <br />Fund Budget and Property Tax Levy for Fiscal Year 2003. <br /> <br />Finance Director Hansen indicated the State of Minnesota requires that local governments follow <br />a procedure to ensure that citizens have adequate notice of the property tax levy. He then <br />indicated that the City would be exempt from that process again this year because the City’s levy <br />is below the required amount but noted Council wished to follow that process and the truth-in- <br />taxation hearing would be held on December 9, 2002. <br /> <br />MOTION/SECOND: Quick/Sonterre. To Waive the Reading and Approve Resolution 5840, a <br />Resolution Establishing Public Hearing Dates for the Proposed General Fund Budget and <br />Property Tax Levy for Fiscal Year 2003. <br /> <br /> Ayes – 4 Nays – 0 Motion carried. <br /> <br />F. Resolution 5836 Calling for the Sale of the City’s General Obligation Water <br />Revenue Refunding Bonds, Series 2002A. <br /> <br />Finance Director Hanson indicated the City’s financial advisor recommended that the City sell <br />refunding bonds for those sold in 1993 as the interest rates are down from that time and doing so <br />would save the City in excess of $100,000 in interest over the life of the bonds. <br /> <br />MOTION/SECOND: Stigney/Thomas. To Waive the Reading and Approve Resolution 5836, a <br />Resolution Calling for the Sale of the City’s General Obligation Water Revenue Refunding <br />Bonds, Series 2002A.