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25) <br /> <br />26) <br /> <br />2?) <br /> <br />28) <br /> <br />29) <br /> <br />30) <br /> <br />31) <br /> <br />32) <br /> <br />~3) <br /> <br />~4) <br /> <br />Adopt Resolution #04-09-253 Calling for a Public Hearing on Proposed Assessment for <br />hnprovement Project #04-06 (Sealcoat and Crackfill of Windsorwood) <br />Adopt Resolution #04-09-254 Calling for a Public Hearing on Proposed Assessment for <br />hnprovement Project #04-07 (Sealcoat and Crackfill of Autumn Meadows, Oak Run) <br />Adopt Resolution #04-09-255 Calling for a Public Hearing on Proposed Assessment for <br />hnprovement Project #04-08 (Sealcoat and Crackfill of Bison Street) <br />Adopt Resolution #04-09-256 Calling for a Public Hearing on Proposed Assessment for <br />hnprovement Project #04-09 (Sealeoat and Crackfill of Tiger Street, Alicias) <br />Adopt Resolution #04-09-257 Calling for a Public Hearing on Proposed Assessment for <br />hnprovem ent Project #04- I 0 (S ealcoat and Crackfill of Sorteberg 6th) <br />Adopt Resolution #04-09-258 Calling for a Public Hearing on Proposed Assessment for <br />hnprovement Project #04-11 (S ealcoat and Crackfill of Deerwood) <br />Adopt Resolution #04-09-259 Calling for a Public Hearing on Proposed Assessment for <br />hnprovem ent Project #04-12 (Sealcoat and Crackfill of Traprock Common) <br />Adopt Resolution #04-09-260 Calling for a Public Hearing on Proposed Assessment for <br />hnprovement Project #04-13 (Overlay of Bowers Drive) <br />Adopt Resolution #04-09-261 Calling for a Public Hearing on Proposed Assessment for <br />hnprovement Project #04-14 (Overlay of Rum River Hills <br />Adopt Resolution #04-09-262 proclaiming October 2004 as Domestic Violence <br />Awareness Month <br /> <br />Motion carried. Voting Yes: Mayor Gamec, Councilmembers Elvig, Pearson, Cook, Kurak, <br />Strommcn, anti Zimme~'nan. Voting No: None. <br /> <br />COUNCIL BUSINESS <br /> <br />Case #1: <br /> <br />Public Hearing to Consider Amendments to the 2004-2008 Capital <br />Improvement Program and Authorize the Issuance of General Obligation <br />Capital Improvement Refunding Bonds <br /> <br />Presentation <br /> <br />Finance Officer Lund explained in 1999, bonds were issued in the amount of $1,665,000 for the <br />construction of a fire station. Lease Revenue Bonds, via the EDA, were issued. As part of the <br />2003 legislative session, Governmental units are now allowed to issue what is termed "Capital <br />hnprovement Bonds" to fund municipal projects such as City Halls, Fire Stations, Police <br />Stations, etc. The issuance of CIP bonds allows the City to retain a lower interest rate. <br />Generally, bonds issued by the City to finance capital improvements under an approved capital <br />improvement program are not subject to election requirements (referendum). However, if within <br />30 days o£ the public hearing, a petition requesting a vote on the issuance of the bonds is signed <br />by a number of registered votes in the city equal to five percent of the votes cast in the city's last <br />general election, then the bonds may be issued only after obtaining approval of a majority of <br />voters voting on the question of whether to issue the bonds. <br /> <br />City Council/September 13, 2004 <br /> Page 7 of 29 <br /> <br /> <br />