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Hugo City Council Meeting Minutes for August 20, 2012 <br />Page 3 of 7 <br />unnecessary at this time. The existing lease agreement requires Nextel to restore the tower to its <br />previous condition. The proposed termination agreement allows Nextel to leave much of their <br />equipment on site in exchange for a one-time payment to the city of $17,000. The payment is <br />intended to cover the cost of equipment removal, should the city choose to remove it. The <br />equipment mainly includes antenna platforms on the tower and a small building located at the <br />base of the tower. It is possible that the equipment could be re -used by another <br />telecommunications provider. Alternatively, staff would anticipate leaving the equipment in <br />place until the tower is demolished at some future time. Adoption of the Consent Agenda <br />approved the termination agreement with Nextel. <br />Approve Quote for 2012 Paving Proiect in Victor Gardens North Village 51h Addition <br />On August 13, 2012, staff received quotes to complete Rottlund's Victor Gardens North Village <br />5th Addition paving project. North Valley Paving submitted the low quote in the amount of <br />$21,333.20. Adoption of the Consent Agenda approved the quote from North Valley Paving for <br />the paving project. <br />Approve Revised Scheduling for the 1451h Street Sidewalk Proiect <br />At its August 6, 2012 meeting, Council reviewed the proposed construction schedule for the <br />improvements to the sidewalk along 145th Street North, with the work to be completed in 2012. <br />Staff has been working to secure pricing for the project and found contractors are backlogged for <br />work for the remainder of 2012, and prices would be more favorable if the project was <br />completed in spring, 2013. Adoption of the Consent Agenda approved an amended schedule to <br />have the improvements to the 145th Street sidewalk completed in spring, 2013. <br />Approve Resolution Ratifying Overnight Loan <br />On December 31, 2010, the Finance Department transferred $35,517.01 from the General Fund <br />to the Tax Increment Collection Fund to eliminate a negative year-end fund balance that <br />occurred due to a large increase in tax increment delinquencies. This transfer amounted to an <br />interest-free overnight interfund loan (the loan was repaid on January 1, 2011); however, the <br />Finance Director recently learned that the TIF Act requires that loans from the general (or other) <br />fund to finance TIF expenditures must be authorized by resolution of the City Council. To <br />provide a written record, the Finance Department recommended that the City Council adopt a <br />resolution that ratifies this overnight interfand loan and provide the terms for its repayment. <br />Adoption of the Consent Agenda approved RESOLUTION 2012-26 RATIFYING <br />OVERNIGHT INTERFUND LOAN FROM THE GENERAL FUND TO THE TAX <br />INCREMENT COLLECTION FUND THAT OCCURRED DECEMBER 31, 2010 AND <br />PROVIDING TERMS FOR THE REPAYMENT OF SAID LOAN. <br />Schedule Annual Citywide Bus Tour <br />Annually, the City of Hugo holds a Citywide Bus Tour for Council, Commissions and interested <br />residents who would like to visit areas of interest within the City. The tour has been held on a <br />Saturday morning for the past two years, and received good attendance. Staff recommended <br />