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I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br /> <br />! <br />I <br />I <br />I <br />I <br />I <br />I <br />i <br />I <br /> <br />interfund loans, then it should be by ordinance establishing purposes, which <br />ones can make loans and which can't; ordinances can be updated when new funds <br />are created. <br /> <br />Commissioner Gamec stated that he has done some research with respect to <br />previous discussion regarding revenue versus industrial bonds: 'Could revenue <br />bonds be used on all city projects?' Only on projects where there is revenue <br />coming in in some form of service charges. It is very difficult to use revenue <br />bonds on a first-time project for sewer and water because there is no revenues <br />previously collected; there is nothing to show what projected revenues have been <br />in the past. <br /> <br />Commissioner Lichter stated that revenue bonds could still apply to utilities <br />projects; a performa statement would have to be prepared to demonstrate to <br />the lender that the expected revenue will pay off the bond. <br /> <br />Commissioner Gamec replied that that is not what he has been told; the lender <br />wants to see other revenue available in the city -- not what is expected. <br /> <br />Commissioner Gamec dismissed himself from the meeting at 8:20 p.m. <br /> <br />APPROVAL OF CHARTER COMMISSION MINUTES <br /> <br />Motion by Commissioner Lichter and seconded by Chairman Heitman to approve <br />regular Charter Commission minutes dated December 8, 1983 with the following <br />corrections: <br /> <br />1. Page 3 - Paragraph 8 - Last sentence - Change reference to 'Evenson/~odge' <br /> to 'City Auditor'. <br /> <br />Page 7 - Paragraph 6 - Change to read as follows: 'f) -section 7.08~.- <br />Commissioner Greenberg stated that_City Accountant told~him that at <br />the time the budget is adopted, Staff does not know if there will be <br />any fund balance left from the current year; they don't obtain that <br />information until the current year is ended; if there is, can they <br />spend it? <br /> <br />Motion carried. Voting Yes: Chairman Heitman, Commissioners BauerkemPer, <br />Lichter, Greenberg and Data. Voting No: None. Absent: Commissioners Gamec, <br />Buchanan, Sieber and Titterud. <br /> <br />NOTE COUNCIL MINUTES <br /> <br />Cha~ter Commission noted regular City Council minutes dated December 20, 1984. <br /> <br />LETTERS AND COMMUNICATIONS <br /> <br />Charter Commission noted the following: <br /> <br />Letter from Chairman Heitman to Mr. Wayne S. Burggraff thanking him for <br />taking the time to share his expertise regarding municipal financing and <br />associated problems. <br /> <br />COMMITTEE REPORTS <br /> <br />1) Budget Committee: <br /> <br />CC/January 12, 1984 <br /> Page 2 of 6 <br /> <br /> <br />