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City Council Regular Meeting Minutes December 11, 2000 Page 2 1 VIII. . PUBLIC HEARINGS. 2 None. 3 IX. GENERAL POLICY BUSINESS OF THE COUNCIL. 4 A. Resolution 00-096, re: Authorize Tax Abatement Bond Sale. 5 City Manager Michael Mornson said this Resolution is the result of the joint meeting with the 6 School Board on November 28, and the work that has been done by the Parks Commission. This 7 Resolution calls for the general obligation tax abatement bonds and the Council would be calling 8 for the sale. Mornson asked for the Councilmembers to note a change to the resolution towards 9 the bottom of the page. The sentence should read "Adopted this 11 th day of December, 2000" 10 (instead of the 12'x'day of December). 11 Motion by Hodson to adopt Resolution 00-096, a Resolution Calling for the Sale of General Ob- 12 ligation Tax Abatement Bonds, Series 2001A. 13 Motion carried unanimously. 14 B. _ Resolution 00-097 re: Elimination of Parcels.for Apache Tax Increment Finance District. . 5- City Manager Michael Mornson explained that the Amendment to the Apache Plaza TIF.Plan 16 eliminates three tax parcels from the Apache TIF District. The parcels being eliminated are the 17 parcels, which formerly contained the New Market grocery store, the parcel containing the 18 Apache Plaza Mall, and a small parcel located near Taco Bell. 19 Motion by Sparks to approve Resolution 00-097, a Resolution Approving Amendment to Tax In- 20 crement Financing Plan for Tax Increment Financing District No. 3-Ramsey County, and Mak- 21 ing Findings with Respect Thereto. 22 Motion carried unanimously. 23 Mornson noted the change on page two of the Resolution, wherein the last sentence would read: 24 "Passed by the Council this 11 th day of December, 2000." (as opposed to the.12"day of Decem- 25 ber). 26 X. REPORTS FROM COMMISSIONS AND STAFF. 27 A. Resolution 00-094 re: Investment Review Proposal from Ehlers & Associates. 28 City Manager Michael Mornson noted that Ehlers & Associates would review the investment 29 practices of the City pursuant to a previous direction given to Staff by the City Council. Ehlers 30 & Associates has submitted a proposal to review the City's existing investment practices and to 31 recommend an investment policy that will assure that City funds are invested safely at a reason- 2 able yield.