Laserfiche WebLink
Mounds View C i t v rnnnnii i ' i i/ly' i� , tr I� <br />Regular Meeting U I S I , rU <br />May 17, 1986 <br />MI it L U <br />--------------------------------------------------------- <br />Page Four <br />Clerk/Administrator Pauley explained this item <br />was <br />carried over from the last agenda session, at the <br />I1. Consideration <br />request of the Council. <br />of Staff Memo <br />Regarding <br />Councilmember Hankner stated she felt an interest <br />Interfund Loan <br />rate and payment plan should be s <br />for Warming <br />this, as has been done far all otthprrprojects that <br />have been interfunded <br />Houses <br />in the City. <br />Councilmember Blanchard explained the process that <br />was used when the Council originally began the <br />interfund loan <br />program, and how the availability <br />of the warming houses occurred. <br />Mayor Linke stated he would like to see the fund <br />kept, with <br />a $10,000 balance. <br />Finance Director stated it would have to be <br />clarified which fend the money should be kept in. <br />There was considerable discussion among the Council <br />of the current policies and intentions on granting <br />the loans and the planned repayment. <br />Finance Director Brager asked if the Council wanted <br />to forgive the loan, and if so, asked what would be <br />done with, the funds that are available to be used to <br />repay p-rt of the loan. He addeded that if it is <br />going to be repaid, the Council should establish <br />the terms at ttiis time. <br />loan on the warming houses and have $10,000viromuthe <br />Recreation Fund put into a fend that would provide for the <br />interest to be used by the Park and Rec Department and the <br />Park and Rec Commission for further improvements to the <br />park system, and from this point on, the Council will set <br />an interfund loan policy stating the interest rate and <br />repayment plans. <br />Motion Carried <br />Councilmembers Blanchard and Haake voted against the <br />motion, with OUtn stating they felt the loan should <br />be repaid. <br />Councilmember Blanchard made reference to the memo <br />to the Council from Finance Director Brager, pointing <br />out the ramifications nt the Praha^ -Rudman act on <br />the City, and she stated she felt very strongly that <br />the 106r- should be repaid. <br />Councilmember Hankner stated she feels a policy i; <br />needed on interfund ;cans, and an interest rate <br />charged and a payment schedule set up. She added, <br />however, that since terms were not set up at the <br />