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I <br />I <br /> <br /> I <br /> I <br /> <br /> I <br /> I <br />,I <br /> <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> <br />Case #2: Review Recommendation to Refund General Obligation Tax <br /> Increment Bonds, Series 1987A <br /> <br />Mr. Bob Thistle from Springsted presented a packet of information relating to the potential <br />refunding of $2,800,00 G.O. Tax Increment Bonds, Series 1987A. <br /> <br />Finance Officer Hart stated the City would be saving about $225,000 by refunding the <br />bond issue. <br /> <br />Mr. Thistle recommended proceeding to refund and to set the sale date for the bonds for <br />October. iIf the market moves rapidly between now and October, the idea of sale could be <br />aborted. <br /> <br />Motion by Mayor Gilbertson and seconded by Councilmember Beyer to recommend that <br />Council graced with the refunding process and set the sale date for the bonds as October <br />12, 1993.I This date would be set during the September 14, 1993 regular City Council <br />meeting. <br /> <br />Case #3; Development Districts and Tax Increment Financing Districts - <br /> Cash Flow Projections 1993 - 1999 <br /> <br />City Admin~' istrator Schroeder and Finance Officer Hart presented cash flow projections for <br />each of the various tax increment financing districts within each development district. <br /> <br />Case g4: Anoka Electric Cooperative Site Search <br /> <br />Project Manager Gromberg stated that the Anoka Electric Cooperative has narrowed their <br />search fo~ a new site down to six or seven sites. Three of these sites are in the City of <br />Ramsey. ~They are scheduled to make a decision by the end of September. <br /> <br />Discussio~t ensued with regard to what Ramsey has to offer the Co-op and speculations of <br />what the.City of Anoka will offer them to stay in their City. <br /> <br />AUTHORITY INPUT <br /> <br />1) Financial Advisors <br /> <br />Councilmember Hardin inquired about contracting with Springsted. <br /> <br />Finance Officer Hart stated that one other company has contacted the City and their bid was <br />comparable to Springsted's. <br /> <br />2) Items for Discussion at an EDA Workshop <br /> <br />Councilmcmber Hardin inquired if the EDA would like to schedule a workshop to discuss <br />policies. <br /> <br />Mayor Otlbertson suggested targeting senior housing and economic development as <br />opposed ~ assisting first time home buyers. There is more of a tax base with businesses. <br /> <br />Councilmcmber Peterson stated that the Star City Program was started a long time ago and <br />wondered lwhat was happening with that. <br /> <br />EDA/August 16, 1993 <br />Page 2 of 3 <br /> <br /> <br />