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1 <br />1 <br />1 <br />1 7 <br />July 23, 1973 <br />to find out just what this charge includes -also, to check on their policy toward <br />customers there has been many complaints about non - pickups. <br />Mr. Jaworski moved to pay bills #5231 through #5244, holding #5235. Seconded <br />by Mr. Cardinal. Motion carried. <br />Mr. Cardinal had been asked to estimate the cost on damages done by the <br />Minnesota Pipeline Company, but he said it would be difficult for him since <br />he is working such long hours. Mr. Jaworski said that the area must be <br />defined before an estimate can be made. He suggested that Mr. Backlin be here <br />and talk to the men. There was discussion on the method of installation <br />with no decision being reached. <br />Mr. Marier moved to adjourn at 10:25 P.M. Seconded byMr. Jaworski. AYE. <br />Minutes approved at the meeting of August 13, 1973.z'�, <br />Clerk- Treasurer <br />July 25, 1973 <br />A special meeting of the Lino Lakes Village Council was called to order at <br />8:15 P.M. by Mayor Bohjanen. Councilmen present; Marier, Zelinka. Absent <br />Cardinal, Jaworski. Mr. Busch representing U.S. Lakes Development, and <br />Mr. Lcoher was also present. <br />This meeting had been called to discuss the 1971 $550,000.00 Temporary <br />Bonds. These bonds are due Nov. 4, 1974. The Clerk reported that as of this <br />date, there is $139,061.07 plus interest in Certificates of Deposit for the <br />purpose of paying off these bonds. Also, the Village has $100,000.00 in <br />Treasury Bi I Is that mature in October. <br />Mr. Locher read the legal material pertaining to the resolution of se l l i ng <br />these bonds and the acceptance of the bid. He also read the letter of <br />certification for the $50,000.00 Certificate of Deposit being held by Drovers <br />State Bank as a guarantee that all current assessments on the property in Lakes <br />Addition #2 will be paid when due. <br />Mr. Jaworski arrived at 8:45 P.M. <br />Mr. Marier said that he understood that the bonds were issued in 1971 they are <br />due in 1974 but are considered 7 year bonds. Why were they set up in this <br />fashion? <br />Mr. Locher said the bonds were issued in the face of a bad bond market and <br />it was felt that this was the most practical way to handle these bonds. <br />Mr. Lcoher read a letter from Mr. Sp ri ngsted recommending that, although these <br />bonds could be renewed this November, they should be allowed to mature in order <br />to fully use the conditions under which they were sold. Mr. Locher also read <br />the minutes of 10 -27 -71 dealing with the sale of these bonds. The minutes of <br />7 -16 -72 were also read and Mr. Locher had his notes on this meeting. <br />Mr. Marier asked who was responsible for the payment of these bonds, besides <br />the Village. <br />