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130.0& and 130.05 of the City Code. <br /> <br />Further Discussion: Councllnember leinann requested that Items 3 and & be <br />re~oved from the Consent ~ends and addressed later in the meeting. <br />Councilmtmber Schlueter inquired if there are usually any discrepancies between <br />what is contained in the hills portfolio versus what is contained in the <br />agenda. Councilmenber ~eimann replied that when r~i~i~ the hills, be <br />usually has questions on th~ that require clarification. Counciln~ber <br />~chlueter stated that when s~e has questions that don't need to be brought up <br />in front of the entire council~ she ~oes t~t to the info~ntion source. <br />Counciln~er Cox stated that Counciln~er ~inann vas designated to revi~ <br />the bills and he s~ould be all,ed the time to do so. Counciln~er ~inann <br />stated that he did not have time to review the hills and license applications <br />prior to the meeting. <br /> <br />Payor Heitman amended his motion to approve the Consent A~enda with the <br />exception of lte~ 13 (Approve License Applications) and Ite~ ii (Approve <br />Monthly Bills For July, 1986), which viii be placed on the regular a~enda as <br />Case ilSA. Councilmember Schlueter seconded the amended motion. <br /> <br />Hotion carried as amended. ¥otiu~ Yes: Hayor Reit~an, Councilne~bers <br />Sorteberg, Cox, Reinann and $chlueter. ¥otin~ No: lone. <br /> <br />COUNCIL BUSINESS <br /> <br />financial Revort On Provosed Imvrovements To The Industrial Area: <br /> <br />Hr. Richard Treptov of Springsted Incorporated vas present to review the <br />financial characteristics of the proposed improvements to the industrial ares. <br />Nr. Treptov stated that the revenues to cover the cost of the bond issue viii <br />come from assessments and tax increment revenues, lit. Treptov stated that in <br />tight of today's favorable interest rate, it makes good sense to sell a longer <br />bond issue at this time. F~r. Treptow noted that with the amount of incomin~ <br />tax increment revenues projected, Ramsey will have the opportunity and <br />capability to do a considerable amount of additional financing. The bonds will <br />be issued so that 3/4 of the principal viii be callable in 8-9 years. Hr. <br />Treptov recommended that the bond sale take place by September 23 as Ramsey <br />viii need bond proceeds in hand by mid-October. <br /> <br />Council consensus was to schedule a special Council meting for August 12, 1984 <br />for the purpose of settin~ a bond sale date. <br /> <br />1985 Comprehensive Annual Financial Revort: <br /> <br />Hr. Ed Robinson and Hr. John Lilja of Deloitte, Haskins and Sells were present <br />to revie~ the results of the Comprehensive Annual Financial Report audit. <br /> <br />Hr. Robinson stated that the audit report is excellent and fully complies with <br />all requirements for certificate of conformance. <br /> <br />Hr. Lilja stated that the commentary report discusses internal control; <br />Ramsey's staff is s~all in number and it is hoped that with growth, attention <br />viii be Riven to havin~ adequate accountinE staff on board. The city is in <br />Rood financial health; recommend that the new never and water fund be watched <br /> July 22, 1986 <br /> <br />Page 5 of 17 <br /> <br /> <br />