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2 <br />3 <br />4 <br />6 <br />7 <br />9 <br />10 <br />11 <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-1 Zoning District <br />at 3013 29°i 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 2011 annual report. <br />Ile 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 2011. 1- le reviewed 2011 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°/x. He explained the turn ratio represents how many times inventory is turned over and the <br />City's turn ratio was 8.12 times per year compared to a typical turn ratio of six to eight times per <br />year. Ile 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 7"' in the State for total sales and 6°i in the metro for net <br />profits. He stated that 92% of the customer survey results rated employee relations, store <br />5 <br />