Laserfiche WebLink
Mounds View City Council November 28, 2022 <br />Regular Meeting Page 15 <br /> <br />1, 2023 through December 31, 2025. <br /> <br />Council Member Meehlhause stated the Mounds View Police Department had very high quality <br />Sergeants and noted he supported the agreement as proposed. <br /> <br />Mayor Mueller thanked Sergeant Wolfe for his 18 years of dedicated service to the City of Mounds <br />View. <br /> <br /> Ayes – 5 Nays – 0 Motion carried. <br /> <br />G. Resolution 9661, Approving Retirement Health Savings Plan Policy Revisions. <br /> <br />City Administrator Zikmund requested the Council approve revisions to the Retirement Health <br />Savings Plan Policy. He commented on the proposed revisions and recommended approval. <br /> <br />Mayor Mueller asked if this being a mandatory program and deductions being made from payroll <br />was an IRS regulation. Finance Director Beer reported this was the case. <br /> <br />MOTION/SECOND: Meehlhause/Hull. To Waive the Reading and Adopt Resolution 9661, <br />Approving Retirement Health Savings Plan Policy Revisions. <br /> <br /> Ayes – 5 Nays – 0 Motion carried. <br /> <br />H. Resolution 9662, Relating to the Issuance of Conduit Revenue Bonds to <br />Finance the Costs of a Multifamily Rental Housing Facility and Under <br />Minnesota Statutes, Chapter 462C, as Amended; Granting Preliminary <br />Approval Thereto; Calling for a Public Hearing; Establishing Compliance <br />with Certain Reimbursement Regulations Under the Internal Revenue Code <br />of 1986, as Amended; and Taking Certain Other Actions with Respect Thereto <br />(Reuter Walton Project). <br /> <br />Finance Director Beer requested the Council adopt a Resolution relating to the issuance of Conduit <br />Revenue Bonds to Finance the Costs of a Multifamily Rental Housing Facility and under <br />Minnesota Statutes, Chapter 462C, as amended; Granting Preliminary Approval Thereto; Calling <br />for a Public Hearing; establishing compliance with certain reimbursement regulations under the <br />Internal Revenue Code of 1986, as amended; and taking certain other actions with respect thereto <br />regarding the Reuter Walton Project. He explained this was a preliminary approval that would give <br />the developer the ability to make application to the State of Minnesota for conduit debt financing. <br />He commented on the deadline for this application noting the applicant was looking to receive $23 <br />million to assist with this project. He reported if the developer defaults on the conduit debt <br />financing, the City was not on the hook and the City’s credit rating would not be impacted. <br /> <br />Council Member Beer asked how long the City has been issuing conduit debt financing. Finance <br />Director Beer stated the last time the City issued this type of financing was in 2008. <br /> <br />Council Member Meehlhause questioned if the City Attorney agreed the City would have no