Minutes - Council - 12/09/2003 - Laserfiche WebLink

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3) Authorization of the Issuance and a Awarding the Sale of $675,000 General Obligation Equipment Certificates of 2003 The Finance Committee recommended that the City Council adopt the resolution authorizing the issuance and awarding the sale of $675,000 General Obligation Equipment Certificates of 2003 and directed staff to draft a letter to the PACT Charter School immediately asking them to agree to rcimburse the City for the $13,750 cost incun'ed. Motion by Councilmember Elvig, seconded by Councilmember Cook, to adopt Resolution #03- 12-329 authorizing the issuance and awarding the sale of $675,000 General Obligation Equipment Certificates of 2003 and directed staff to draft a letter to the PACT Charter School immediately asking them to agree to reimburse the City for the $13,750 cost incurred. Further discussion: Councilmember Kurak inquired if the City was tied to purchase the items on the list. Finance Officer Lund replied no. She explained that the only requirement is that the item purchases have to have a life expectancy of the terms of the bond. Motion carried. Voting Yes: Mayor Gamec, and Councilmembers Elvig, Cook, Kurak, Pearson, Strommen, and:Zimmerman. Voting No: None. 4) Review and Amend 2004 Schedule of Rates, Fees, and Charges and Introduce Ordinance to Adopt 2004 Building, Zoning, and Planning Permit Fees The Finance Committee recommended that the City Council introduce an ordinance to ratify the 2004 building construction, zoning and planning fees and adopt a resolution amending the 2004 schedule of rates, fees and charges and direct staff to forward the issue of park dedication and trail t'ees in the commercial area to the Park Commission for their review. Motion by Cotmcilmember Elvig, seconded by Councilmember Strommen, to adopt Resolution #03-12-330 amending the 2004 schedule of rates, fees and charges. Motion carried. Voting Yes: Mayor Gamec, and Councilmembers Elvig, Strommen, Cook, Kurak, Pearson, and Zimmerman. Voting No: None. 5) Establishment of Two New Funds The Committee discussed the establishment of a Park Maintenance Endowment Fund and a City l~lall facility fired. The Park Maintenance Endowment fund would have a balance of 10 million dollars and the interest earnings would be used to maintain the parks. Staff informed the Committee that a Public Facility fund already did exist. It was Councilmember Elvig's recommendation that the City set aside enough money for a new City Hall/Police facility so that no more than 9 million dollars of the project would need to be bonded for. Consensus of the Committee was to discuss the issue further at a Council work session. City Council/December 9, 2003 Page 21 of 23