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Attached as a part of this case are the recommendations from Springsted regarding the bond sale <br />and the appropriate resolutions as prepared by the £n'm of Holmes and Graven. Mr. Bob Thistle of <br />Springsted will be present to review the recommendations and answer questions as necessary. <br /> <br />As an aside, there have been some significant changes proposed in the laws pertaining to tax <br />increment financing districts. We are expediting this particular process to address possible <br />negative impacts on the long term development plans of the City. <br /> <br />Staff Recommendation <br /> <br />The action necessary at tonights meeting is as follows: <br /> <br />Set sale of the bonds for Tuesday, March 21, 1995 by receiving the recommendations and <br />adopting the attached resolution, <br /> <br />and <br /> <br />Call for a special meeting of the City Council for Tuesday, March 21, 1995 at 6:45 p.m. to award <br />the sale of said bonds. [This meeting should be approximately 10 to 15 minutes. The City <br />Council has already scheduled the Comprehensive Plan Public Hearing for the same evening so it <br />anticipated that it will not pose a problem having a quorum for the award.] <br /> <br />Committee Action: <br /> <br />Recommend Council adoption of the attached Resolution #95-02-XXX Providing for the Issuance <br />and Sale of $2,600,000 General Obligation Tax Increment Bonds, Series 1995A; <br /> <br />and <br /> <br />Recommend Council calling for a special meeting on Tuesday, March 21, 1995 at 6.45 p.m. to <br />award the sale of said bonds. <br /> <br />Reviewed By: <br />City Administrator <br />Finance Officer <br /> <br />FC: 2/28/95 <br /> <br /> <br />