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I <br /> <br /> I <br /> I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br /> <br />Further discussion: Mayor Hardin suggested that maybe it's not up to the City to be putting certain <br />items from theiCounty in the newsletter. Ms. Waite Smith responded that she has a difficult time <br />knowing whioh papers all the information goes in where else will the residents get this <br />information. Mayor Hardin felt that we should make sure the information is not generic. <br /> <br />Motion carried. Voting Yes: Mayor Hardin, Councilmembers Beahen, Beyer and Peterson. <br />Voting No: C6uncilmember Zimmerman. <br /> <br />Case #6: Review and Adopt Investment Policy for the City of Ramsey <br /> <br />Finance Officer Hart stated that she has taken the investment practice we have and put it into a <br />format. It basically says we follow State Statutes. The policy will be reviewed for grammatical, <br />etc. <br /> <br />Motion by Mayor Hardin and seconded by Councilmember Beahen to recommend Council adopt <br />the City of Rargsey Investment Policy, effective immediately upon adoption, and to direct that the <br />Finance Officor transmit a copy of this policy and new certification to each existing official <br />depository. <br /> <br />Motion carried. Voting Yes: Mayor Hardin, Councilmembers Beahen, Beyer, Peterson and <br />Zimmerman. Voting No: None. <br /> <br /> Case ~7: /Introduction of Utility Franchise Fee Ordinance <br /> <br /> City Administrator Schroeder stated that he has brought the utility franchise fee ordinance to the <br /> Committee ever year but last year. This year it has a little different twist on it. The gas and <br /> electric utility ~evenues should be appropriate. If you wanted to dedicate revenue from this, we <br /> suggest it go t0~ the sealcoating program. What will be assessed is about $180,000. This raises <br /> about the sameiamount of money on an annual basis. Is this a hidden tax? Yes ~ but the intent is to <br /> raise revenue md delete different revenue sources. If City Council adopts the franchise fee this <br /> time, you do sd and you then try to figure out how to implement revenue received. He suggested <br /> revenue cost share should be phased in. I am not proposing any sort of specific suggestions as it <br /> relates to cost df the sealcoat program. <br /> <br />· Councilmember Zimmerman stated that last time people had comments about the commercial and <br /> industrial payirig 0% and the residential paying 3%. <br /> <br />Mr. Schroeder; stated that's been a concern expressed. He looked at gross revenues and <br />businesses pay ~$4 to every $1 for residential. Certain businesses would have a real large impact. <br /> <br />Councilmember Beyer stated she is in favor of the franchise fee. <br /> <br />Consensus of the Finance Committee was to table any action until the November meeting. <br /> <br />Case #8: Ratification of Purchase Agreement for 14641 Neon Street NW in <br /> Ramsey (D.A.R.E. House) <br /> <br />This case was Previously approved and was pulled from the agenda. <br /> <br />Case ~9: Community Development Office Remodeling <br /> <br />City Administrator Schroeder stated that we have received a quote of $11,400 to remodel the <br />existing Police 6ffice space for the Community Development Department. The remodeling would <br /> <br />Finance Committee/October 22, 1996 <br /> Page 5 of 6 <br /> <br /> <br />