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I Regular Council Meeting 2 July 28, 1992 3 Page 20 4 5 6 7 altogether and opening them up only for organized activities. 8 Because this is an ongoing problem, Staff is looking into 9 budgeting for satellites which would be utilized only during 10 the summer months. The same problems were being experienced 11 in the City Hall until gating prevented usage by gymnasium 12 users, thereby eliminating those expenses. 13 14 The Council was very reluctant not to have the facilities open 15 at all and staff was directed to try having the toilets opened 16 by workers at 7:00 a.m. and closed by the police at 9:30 p.m. 17 18 IX. NEW BUSINESS 19 20 C. RESOLUTION 92-038, RE: RESTRUCTURE OF LIQUOR REVENUE BONDS 21 22 Robert Thistle of Springsted was present to discuss his firm' s 23 recommendation that the City' s Liquor Revenue Bonds be 24 refinanced to take advantage of lower interest rates. Mr. 25 Thistle anticipated a $19,000 .00 savings in interest which 26 represents almost 14% of the outstanding interest remaining on 27 . the bonds . He said this would also free up $25,000.00 in the 28 City' s debt service fund and would reduce the reserves the 29 City would have to keep by $69, 000 .00 30 31 Motion by Enrooth, seconded by Ranallo to adopt Resolution 32 92-038 which authorizes the issuance and sale of $405,000.00 33 Liquor Store Revenue Refunding Bonds, Series 1992 A, and sets 34 the bid date for Tuesday, August 25, 1992 at 11:00 a.m. at the 35 office of Springsted, Inc. 36 37 Motion carried unanimously. 38 39 VII. ADJOURNMENT TO HOUSING AND REDEVELOPMENT AUTHORITY MEETING 40 41 Motion by Wagner; seconded by Enrooth to recess the St. 42 Anthony Council meeting at 9 : 15 p.m. for the St. Anthony 43 Housing and Redevelopment Authority meeting. 44 45 Motion carried unanimously. 46 47 The Council meeting was resumed at 9 :33 p.m. •