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Engineer kaatikka explained that Allied Blacktopping has <br />requested they be paid in full with the understanding they will <br />complete the repair work in the Spring. Allied Blacktop has a <br />bond to cover the repair project. Engineer Raatikka stated the <br />attorney, Bill Goodrich, has suggested the City hold back ~, or <br />$3,000, which would cover twice the cost of the repairs. <br /> <br />Mction by Councilman Cox, seconded by Councilman DeLuca, to <br />approve payment to Allied Blacktop minus 5%, or $3,000, which <br />will be held to cover the repairs that are to be done in the <br />Spring. <br /> <br />Councilman DeLuca asked if the City would need to pay interest on <br />this 5%. Administrator Hartley stated this was not necessary <br />since the contract itself which was entered into between Allied <br />and Ramsey provides for such a retainage. <br /> <br />Motion carried. Voting yes: Mayor Reimann, Councilmembers Cox, <br />DeLuca, Pearson and Sorteberg. Voting no: None. Absent: None. <br /> <br />Case #2: <br /> <br />Consider Resolution Setting Levy for Payable 1988 <br />Taxes <br /> <br />Administrator Hartley explained additional information from the <br />County was received regarding the assessed value for Ramsey. <br />This new information affects the predictions that were made <br />regarding the impact of the property tax levy. Administrator <br />Hartley had asked Noel Graczyk, Finance Officer, to gather <br />information about this matter as well as the affect of reducing <br />the overall levy for the City of Ramsey. <br /> <br />Noel Graczyk, Finance Officer, gave a presentation to the Council <br />explaining the affect of the change in the fiscal disparities <br />~on~ribution and how the mill r=~e is af <br /> <br />During the presentation b~r. Graczyk explained that if the fiscal <br />disparities-distribution was reduced this year it results in a <br />i989 loss ef an least $i5,000 per mill. By reducinc the <br />homestead ~'~ ~=~ <br /> ~_~~vou ..~ the %ax burden away_ from State sources <br />and to %he local property owners.__~- also increases the ab:~ '~-~ <br />of other City's to place additional tax burdens on the City cf <br />k~msey via the State. The State grants revenues to <br />muni~izai~=s_ z!~rou~n ~ Gcvernmen~ A~'~c. if ~ ~ev ' <br />the law ~ also reduces the ~;=cal need and therefore the~o~=~ ~ ~-~ <br />~.o%.~..~m~n~.=~-..=" aid which in tur~ ~=~= ~¼= aic' even =~'~n_~=~~n~o~ ~ <br />the future years. ~[r. Graczyk explained that by ~=~ng the <br />levy ~=mz=~: '~ by one mill t~s ..... year ~* wouz=~ result in a totaz' two <br />=year loss of $80,z90. and the permanent loss ~_.~- =~evv. or omher <br />revenue ability for 1989. <br /> <br />City Council/October 6, !987 <br /> Page 4 of !0 <br /> <br /> <br />