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Finance Officer Lund replied last year tile arciount 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 paying thc certificates off. <br /> <br />Motion by Councilmember 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 Certificates of 2004. <br /> <br />Motion carried. Voting Yes: Chairperson Elvigi and Councilmember Zimmerman. Voting No: <br />None. <br /> <br />Councihnember 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 width past certificate amounts. <br /> <br />Case #4: Authorization to Utilize the Services of a Consultant to Assist the City in <br /> Establishment of an HP~a.; 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 ConSultantl to assist the City in forming the HRA. The <br />process would include such tasks as 'drafting ithe enabling resolution and by-laws, official <br />notification to the County, and amending-'Chapter 2 of the City Code entitled Boards and <br />Commissions. Mi'. Nagel estimates thatit will take him approximately 50 hours to assist the City <br />in the establishment of an HRA. His rate is $35/hour. <br /> <br />Motion by Councihnember Zimmerman; seconded by Chairperson Elvig, to recommend that City <br />Council adopt the proposed resolution to authorile a transfer of $1,750.00 from the Contingency <br />Fund to the Community Development Departmen~t budget for the purpose of hiring Mark Nagel <br />to assist in the establishment of an HRA. <br /> <br />Chairperson Elvig asked if the funds will come fr6m the 2005 Contingency Fund. <br /> <br />Community Development 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 />Commtmity Development Director Frolik responded in the affirmative. <br /> <br />Finance Committee/December 14, 2004 <br /> Page 4 of 6 <br /> <br /> <br />