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1 Regular Council Meeting <br /> 2 July 28, 1992 <br /> 3 Page 20 <br /> 4 <br /> 5 <br /> 6 <br /> 7 altogether and opening them up only for organized activities. <br /> 8 Because this is an ongoing problem, Staff is looking into <br /> 9 budgeting for satellites which would be utilized only during <br /> 10 the summer months. The same problems were being experienced <br /> 11 in the City Hall until gating prevented usage by gymnasium <br /> 12 users, thereby eliminating those expenses. <br /> 13 <br /> 14 The Council was very reluctant not to have the facilities open <br /> 1-5 at all and staff was. directed to try having the toilets opened <br /> 16 by workers at 7:00 a.m. and closed by the police at 9 :30 p.m. <br /> 17 <br /> 18 IR. NEW BUSINESS <br /> 19 <br /> 20 C. RESOLUTION 92-038, RE: RESTRUCTURE OF LIQUOR REVENUE BONDS <br /> 21 <br /> 22 Robert Thistle of Springsted was present to discuss his firm' s <br /> 23 recommendation that the City' s Liquor Revenue Bonds be <br /> 24 refinanced to take advantage of lower interest rates. Mr. <br /> 25 Thistle anticipated a $19,000.00 savings in interest which <br /> 26 represents almost 14% of the outstanding interest remaining on <br /> • 27 the bonds . He said this would also free up $25,000.00 in the <br /> 28 City's debt service fund and would reduce the reserves the <br /> 29 City would have to keep by $69,000.00 <br /> 30 <br /> 31 Motion by Enrooth, seconded by Ranallo to adopt Resolution <br /> 32 92-038 which authorizes the issuance and sale of $405,000.00 <br /> 33 Liquor Store Revenue Refunding Bonds, Series 1992 A, and sets <br /> 34 the bid date for Tuesday, August 25, 1992. at 11:00 a.m. at the <br /> 35 office of Springsted, Inc. <br /> 36 <br /> 37 Motion carried unanimously. <br /> 38 <br /> 39 VII. ADJOURNMENT TO HOUSING AND REDEVELOPMENT AUTHORITY MEETING <br /> 40 <br /> 41 Motion by Wagner, seconded by Enrooth to recess the St. <br /> 42 Anthony Council meeting at 9 : 15 p.m. for the St. Anthony <br /> 43 Housing and Redevelopment Authority meeting. <br /> 44 <br /> 45 Motion carried unanimously. <br /> 46 <br /> 47 The Council meeting was resumed at 9:33 p.m. <br />