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Finance Officer Lund replied last year the amount was double this amount at $752,000. <br /> <br />Chairperson Elvig asked if these certificates would be able to be paid off early. <br /> <br />Paul Donna of Northland Securities replied it is contemplated there would not be an acceleration <br />in payi n g th e certi ficates off. <br /> <br />Motion by Councihnember Zimmerman, seconded by Chairperson Elvig, to recommend that the <br />City Council adopt a resolution authorizing the issuance and awarding the sale of $345,000 <br />General Obligation Equipment Certificatesof2004. <br /> <br />Motion carried. Voting Yes: Chairperson Elvig, and Councilmember Zimmerman. Voting No: <br />None. <br /> <br />Councilmember Zimmerman suggested it would be a benefit to the audience at the City Council <br />meeting to point out that this is keeping in line with past certificate amounts. <br /> <br />Case #4: <br /> <br />Authorization to Utilize the Services of a Consultant to Assist the City in <br />Establishment of an HRA; Case of City of Ramsey <br /> <br />Community Development Director Frolik indicated she and City Administrator Norman met with <br />Mark Nagel to discuss working as a consultant to assist the City in forming the HRA. The <br />process would include such tasks as dr~fting the enabling resolution and by-laws, official <br />notification to the County, and amending Chapter 2 of the City Code entitled Boards and <br />Commissions. Mr. Nagel estimates that it willltake him approximately 50 hours to assist the City <br />in thc establishlnent of an HRA. His rate is $35/hour. <br /> <br />Motion by Cotmci lmember Zimmerman, seconded by Chairperson Elvig, to recommend that City <br />Council adopt the proposed resolution to authorize a transfer of $1,750.00 from the Contingency <br />Fund to the Community Development DePartment budget for the purpose of hiring Mark Nagel <br />to assist in the establishment of an HRA. <br /> <br />Chairpcrson Elvig asked if the funds will come from the 2005 Contingency Fund. <br /> <br />Community Dcvelopment Frolik replied the funds will come from the 2004 Contingency Fund. <br /> <br />Chairperson Elvig questioned if Mr. Nagel's estimates include working with the Council in a <br />work session. <br /> <br />Community Development Director Frolik responded in the affirmative. <br /> <br />Finance Committee/December 14, 2004 <br /> Page 4 of 6 <br /> <br /> <br />