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2 <br />3 <br />4 <br />5 <br />6 <br />7 <br />8 <br />9 <br />10 <br />11 <br />12 <br />13 <br />14 <br />15 <br />16 <br />17 <br />18 <br />19 <br />20 <br />21 <br />22 <br />23 <br />24 <br />25 <br />26 <br />27 <br />28 <br />29 <br />30 <br />31 <br />32 <br />33 <br />34 <br />35 <br />36 <br />37 <br />38 <br />39 <br />40 <br />41 <br />42 <br />43 <br />44 <br />45 <br />46 <br />Mounds View City Council November 28, 2022 <br />Regular Meeting Page 15 <br />1, 2023 through December 31, 2025. <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 />Mayor Mueller thanked Sergeant Wolfe for his 18 years of dedicated service to the City of Mounds <br />View. <br />Ayes — 5 Nays — 0 Motion carried. <br />G. Resolution 9661, Approving Retirement Health Savings Plan Policy Revisions. <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 />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 />MOTION/SECOND: Meehlhause/Hull. To Waive the Reading and Adopt Resolution 9661, <br />Approving Retirement Health Savings Plan Policy Revisions. <br />Ayes — 5 Nays — 0 Motion carried. <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 />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 />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 />Council Member Meehlhause questioned if the City Attorney agreed the City would have no <br />