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Regular Council <br />?age 6 <br />February 26~ 1979 <br /> <br />Mr. Dick Carson asked the Council for approval on the bonding so they can <br />get everything started. He stated it takes about 90 days for everything <br />to be approved. <br /> <br />Councilman Cox stated it should be documented in the minutes that approval <br />of this resolution doesn't necessarily mean approval of the Flintwood Hills <br />#2 plat. <br /> <br />Mr. Carson stated he understood that. <br /> <br />Mr. Bill Waldusky of Piper Jaffery and Hopwood said they are handling the <br />selling of bonds for the City of Coon Rapids. <br /> <br />^ discussion on the other cities in the metropolitan area who have adopted <br />this resolution followed. It was asked if bonds are issued for $45 million <br />and if the total costs come to only $40 million what happens to the money <br />left over. It was stated that those bonds are called back. Also it was <br />asked if the City would have any risks in this type of bonding and the <br />Council was assured they wouldn't as this is a very solid way of investing <br />money. <br /> <br />Motion by Councilman Cox and seconded by Councilman Reimann to table any <br />action on this resolution in order for City Attorney Goodrich to check fur- <br />ther into it and also to check with Coon Rapids in regards to their rationale <br />on the resolution. <br /> <br />Motion carried. Voting yes Mayor Gamec, Councilmen Reimann, Mickelson and <br />Cox. Voting no None. <br /> <br />It was stated that if anyone had any questions to get with City Administrator <br />Schnelle by March 2, 1979 so he can address them. <br /> <br />Councilman Mickelson stated it looks as this type of bonding is a way of <br />monopolizing by one builder. <br /> <br />Mr. Carson stated they aren't being unfair as anyone can put together a pro- <br />posal of this type and come before the Council. <br /> <br />FINAL APPROVAL OF INDUSTRIAL REVENUE BOND REGARDING RAMSEY MEDICAL CLINIC <br /> <br />Motion by Councilman Cox and seconded by Councilman Mickelson to approve <br />Resolution #79-~i authorizing the acquisition and construction of a project <br />under the Minnesota Municipal Industrial Development Act and the sale and <br />issuance of Medical Clinic Revenue Bonds to finance the project and with <br />the understanding the park fee would be paid as soon as the Medical Clinic <br />had the money (per gentleman's agreement). <br /> <br />Motion carried. Voting yes Mayor Gamec, Councilmen Reimann, Mickelson and <br />Cox. Voting no None. <br /> <br />VARIANCE REQUEST - PROGRESSIVE HOMES <br /> <br />Mr. Doug Mitchell was present with a request to subdivide by metes and bounds <br />a 40 acre parcel in the area of County Road #7 and Highway #47. He had been <br /> <br /> <br />