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Councilmember Kurak inquired if the ~nly use of the franchise fee is for maintenance of City <br />streets. <br /> <br />Finance Officer Lund explained that that would be a large portion of what the funds would be <br />used for, but all of the franchise fees collected will go into the general fund. <br /> <br />City Attorney Goodrich noted that Section 5 paragraph 1 should reference Section 7 rather than <br />Section 6. He also noted that the ordinance should include the percentage the City would be <br />collecting. <br /> <br />Councilmember Elvig stated that he would like to see the percentages included as long as they <br />have the $525,000 maximum included in the ordinance. <br /> <br />City Attorney Goodrich noted that the ordinance states approximately $525,000 to provide some <br />flexibility. In June of each year the Council will have to pass a resolution to stop, continue or <br />adjust the fee collected. <br /> <br />Mayor Gamec inquired if they could include language that they would not exceed five percent of <br />the $525,000. <br /> <br />City Attorney Goodrich replied that that would be difficult to do. <br /> <br />Councilmember Cook inquired if the City were to collect $700,000 the first year could they <br />reduce the amount collected for the next year. <br /> <br />City Attorney Goodrich replied that the ordinance can always be amended. <br /> <br />Councilmember Strommen stated that she has received Some questions about expenses related to <br />the Town Center and reimbursements from the developer and requested that staff explain what is <br />happening. <br /> <br />Finance Officer Lund explained that a statement is sent out monthly to the developer charging <br />them for staff time or other costs associated with the development on the 10th and they have until <br />the 20th to pay. There is nothing funded for Town Center out of the general fund. The City has <br />received full payment f¥om the developer to date and a new statement will be sent out on July 9, <br />2003. <br /> <br />City Administrator Norrnan noted that building inspections would be paid for in the building <br />permit process. <br /> <br />Mayor Gamec requested that the Council be forwarded a copy of the statement each month. <br /> <br />City Attorney Goodrich noted that the monthly expenses are guaranteed up to $50,000 by letter <br />of credit that the City has in place. <br /> <br />P76 <br /> <br />City Council/July 8, 2003 <br />Page 16 of 30 <br /> <br /> <br />