Laserfiche WebLink
I <br />2 <br />3 <br />4 <br />5 <br />6 <br />7 <br />8 <br />9 <br />10 <br />II <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 />City Council Regular Meeting Minutes <br />March 27, 2012 <br />Page 5 <br />Motion by Councilmember Gray, seconded by Councilmember Roth , to approve Resolution 12- <br />039; Approve a Request to Keep No More Than Five Female Chickens in an R-I Zoning District <br />at 3013 29th Avenue NE. <br />Councilmember Stille noted that the City Council will be discussing this issue in the future and <br />there may additional rules imposed as part of the City's current Ordinance to provide additional <br />structure to this process . <br />Motion carried unanimously. <br />B. Resolution 12-040; Authorizing Issuance. Awarding Sale, Prescribing the Form and <br />Details and Providing for the Payment of $9.660.000 General Obligation Bonds. Series <br />2012A . Stacie Kvilvang, Ehlers & Associates. presenting. <br />Ms . Kvilvang explained the City previously authorized the sale of$9,660,000 in General <br />Obligation Bonds and the sale was held today . She noted the bond size was reduced to <br />$9 ,495,000 and includes refunding the City's 2003 HRA Leave Revenue Bonds, refunding the <br />City 's 2006A and 2007A bonds, and new money for the City's 2012 road reconstruction project. <br />She presented the sales report indicating Baird as the lowest responsible bidder with a true <br />interest cost of 1.93%. She pointed out the City 's overall savings is over $700,000 over the life <br />of the bonds representing a present value of$637,000 and annual savings of$66,000 over the <br />next 10-12 years for the City. She added that a rating call with S&P upheld the City's AA rating. <br />Motion by Councilmember Stille, seconded by Councilmember Roth, to approve Resolution 12- <br />040; Authorizing Issuance, Awarding Sale, Prescribing the Form and Details and Providing for <br />the Payment of$9,495,000 General Obligation Bonds, Series 2012A. <br />Motion carried unanimously. <br />C. St. Anthony Liquor Operations Annual Report. Mike Larson, Liquor Operations <br />Manager. presenting. <br />Liquor Operations Manager Larson presented the City 'S Liquor Operations 20 II annual report. <br />He stated the City owns two off-sale liquor stores and the municipal liquor operation's profits are <br />used to reduce the property tax levy, provide funds for special projects, and provide funds for <br />equipment purchases . He noted the liquor operation successfully passed all compliance checks <br />performed in 20 II. He reviewed 20 II sales noting an increase in sales of $167,873 or 2.46% to <br />$6.9 million , representing a net profit of$471 ,247 for 2011. He discussed operating expenses <br />and stated the City's 2010 liquor operations were once again below the Statewide average of <br />17.1 %. He explained the tum ratio represents how many times inventory is turned over and the <br />City'S tum ratio was 8.12 times per year compared to a typical tum ratio of six to eight times per <br />year. He stated that labor costs typically run 10% and the City 's labor costs for its liquor <br />operations was 9%. He indicated that sales per square foot were $764 compared to an average of <br />$600 per square foot and the City ranked 7th in the State for total sales and 6 th in the metro for net <br />profits. He stated that 92% of the customer survey results rated employee relations, store