Laserfiche WebLink
development is sufficient to pay off this particular bond issue without any tax <br />levies, l~amsey is projected to be receiving considerably more tax increments <br />in the future that can be used to prepay this bond issue or fund additional tax <br />increment projects. <br /> <br />Councilmember Cox inquired if this would be an appropriate time to consider a <br />cooperative effort to build a YNCA or a municipal facility of ao~e type. <br /> <br />Mr. Treptow stated that he doesn't believe a YMCA would qualify as an eligible <br />use of tax increments; public utility services to such a facility might qualify <br />as an eligible use of tax increment flow. <br /> <br />Councilmember Cox noted that he heard Altron might be making a considerable <br />expansion in the near future and perhaps Altron should be included in these <br />sewer and water improvements at a time when there is tax increment <br />participation in the project. <br /> <br />Mr. Martley replied stated that Altron has made it quite clear that they do not <br />want sewer and water. Mr. Hartley added that he will keep in touch with <br />Altron. <br /> <br />Motion by Councilmember Cox and seconded by Councilmember Sorteberg to adopt <br />Resolution ~86-146 providing for the issuance and sale of $2,350,000 General <br />Obligation Tax Increment Bonds. (Please refer to resolution file for <br />Resolution ~86-146). <br /> <br />Notion carried. Voting Yes: Mayor Reimann, Councilmembers Sorteberg, Cox and <br />Schlueter. Voting No: None. <br /> <br />MAYOR AND COUNCIL INPUT <br /> <br />Mayor Reimann stated that Don Scarborough, a former chairman of the Ramsey Town <br />Board, passed away and he authorized staff to send a memorial gift to the <br />funeral home. <br /> <br />Motion by Councilmember Sorteberg and seconded by Councilmember Cox to adjourn <br />the special Council meeting. <br /> <br />Motion carried. Voting Yes: Mayor Reimann, Councilmembers Sorteberg, Cox and <br />Schlueter. <br /> <br />The meeting adjourned at 6:40 p.m. <br /> <br />Respectfully submitted, <br /> <br />Sylvia Frolik <br />Secretary <br /> <br />David Hartley <br />City Administrator <br /> <br />September 2, 1986 <br />Page 2 of 2 <br /> <br /> <br />