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1 possible , would require interest payments every year before that <br /> 2 payment was made. The second option was a capital appreciation ( zero• <br /> 3 coupon bond issue which could push the City' s first payment of <br /> 4 $90 , 000 . 00 (minimum statutorily possible) into the end of the third <br /> 5 year ) . A meeting with Springsted would be arranged to make the final <br /> 6 decision related to financing. <br /> 7 Council Action <br /> 8 Motion by Ranallo, seconded by Makowske to adopt Resolution 88-015 <br /> 9 with the final paragraph changed "to authorize borrowing to cover the <br /> 10 cost of . . . . " . <br /> 11 RESOLUTION 88-015 <br /> 12 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF <br /> 13 ST. ANTHONY AUTHORIZING ADVERTISEMENT FOR BIDS FOR <br /> 14 A TEMPORARY GRANULAR ACTIVATED CARBON (GAC) <br /> 15 WATER FILTRATION SYSTEM <br /> 16 Motion carried unanimously. <br /> 17 City Attorney to Prepare Documents for Transfer of Parkview Ownership <br /> 18 to City <br /> 19 There was an indepth discussion of the School District #282 proposal <br /> • <br /> 20 for "Disposition of St. Anthony Community Center Building" on which Mr. <br /> 21 Childs had written his own comments on certain items and changes made <br /> 22 as a result of his April 22nd meeting with school representatives. <br /> 23 Soth indicated the proposal only described the understanding between <br /> 24 the two parties in general terms and the specifics would have to be <br /> 25 tied down in the final official agreement. He perceived it would be <br /> 26 necessary to have a drawing showing the exact square footage Community <br /> 27 Services utilizes in the building as of this date, which would become <br /> 28 Exhibit A of the agreement. <br /> 29 Childs told Councilmember Marks he estimated Community Services took up <br /> 30 about one-half of the building and the City is currently paying about <br /> 31 $9 , 000 a quarter for the 6 , 000 square feet of space it currently uses. <br /> 32 The agreement would allow the school to remain in the building at no <br /> 33 charge for 5 years. This would effectively become the payment the <br /> 34 City must make to the school district for taking over the building. <br /> 35 He said the consensus of the school Board had been that as long as <br /> 36 School District #282 uses the building for child serving services, the <br /> 37 City would not house the fire station in the building. <br /> 38 With regard to the free rent, Enrooth, said he would interpret that to <br /> 39 mean that unless the City continued to subsidize those services to the <br /> 40 tune of a half a million dollars in free rent and electricity, that <br /> 41 program could not continue to function. He said the Community Services <br /> 42 estimates the breakdown of users to be 40°% non-resident and 600• <br /> 16 <br />