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bookstore issues. On the old airport site we will have a $12 million facility plus 40 to 60 <br />acres of high quality industrial property. The landfill closed two years ago and we will <br />have re-use of that land. With regard to the battle against the Adult Bookstore, we lost the <br />in'st one and won the last nine. We feel thee will be a new use for that facility. The City <br />has acquired an A-1 Bond Rating which is a lb'st in Ramsey's history. Mr. Schroeder <br />listed the following funds started since 1991 o each having a zero balance in December <br />1990. Present balance of the Serf Insurance Fund $120,813, Economic Development <br />Authority $155,112, Street Lighting Fund $13,334, Future Street Lighting $14,735, <br />Lawful Gambling $49,896, Future Sealeoating $229,805, PIR $1,157,454. The <br />Equipment Revolving Fund had a balance of $278,943 in December 1990; the balance for <br />December 1994 is $2,080,999. That fund is funded now; however, Staff feels that 120% <br />is the approp~te funding level. He felt that Council didn't have any idea in 1990 the shape <br />these funds were in which is not the case presently. Mr. Schroeder stated that this Council <br />can be proud of themselves, and he hoped of their Staff. He stated it's been good working <br />with this Council - most of the time and the City has moved forward. <br /> <br />ADJOURNMENT <br /> <br />Motion by Councilmember Peterson and seconded by Councilmember Beyer to adjourn the <br />meeting. <br /> <br />Motion carried. Voting Yes: Mayor Gilbertson, Councilmembers Peterson, Beyer, Hardin <br />and Zimmerman. Voting No: None. <br /> <br />The regular meeting of the City Council adjourned at 9:34 p.m. <br /> <br /> Respectfully submitted, <br /> <br />/ ~Recording Secretary <br /> <br />City Administrator <br /> <br />City Council/December 13, 1994 <br /> Page 19 of 19 <br /> <br /> <br />