Agenda - Council - 01/09/2001 - Laserfiche WebLink

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I I I I Mr. M' *tson explained the taxable bonds are used in situations where there will be a benefit. City Administrator Norman stated that the bonds Will be used for both the sale public improvements. Co:;.ncilmember Anderson stated that she had read an article in the paper and the Governor's plan for funding schools wkich indicated that sotne have some financial difficulties if his plan were put in place. TIF Di use TIF and I Mr. Mattson replied that there is always someone in increments every year. He stated that he did not believe I I I I I I Councilmember Anderson requested that Juran and ed on the issue. Mr. Mattson replied that they would watch the situation for the Motion by Councilmember Connoll, Resolution /t00-12- awarding Increment Bonds, Series 200lA Hendr/ksen how long are the seconded by to adopt $1,680,000 General Taxable-Tax at an interest percent. Motion carried. Voting Yes: Mayor and Zimmerman. Voting No: None. ~lly, Hendriksen Anderson, Motion by Col adoption ot Series 20t to U.S. by C°uncilmember Connolly, to authorize the of $920,000 General Obligation Tax of 4.79 percent. Hendriksen, Connolly, Anderson, I and Zimmerm~ i ~.6.'r,~Qamec ;ome training for the Council to explain Tax Increment Financing in ,"'~ Mr. Mattson'~Iied that ~ ould be willing to give any type of training that the City would I~'& need. ~.~,~ . '~,~ Case #1: ~i~cussion Regarding Credits Available for the Storm Drainage Utility ' ~iCitY En~6ff Olson stated that on November 23, 1999, the City Council introduced an I 6~!..i_~n(~!erat~ng a storm drainage utility. The utility was adopted on January 1 t, 2000. On · ' Ju~'/~.000, the City Council adopted a resolution establishing the storm drainage utility fees b~nding the 2000 schedule of rates, fees, and charges. On July 11, 2000, the City Council ! City Council/December 19, 2000 I Page 5 of 19 -03-