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CITY COUNCIL WORK SESSION <br />Topic RePort: Oak Terrace Mobile Home <br />Park <br />By: James E. Norman, City Administrator <br /> <br />Background: <br /> <br />The City Council has had various closed sessions regarding the Oak Terrace Mobile <br />Home Park; however, staff does not believe a full closed session is necessary at this time. <br />Staff has received finance reports on various acquisitions along Highway #10 and they <br />have all determined that the City would not be able to even make interest payments in <br />bonding for projects. Because of the inability to make payments in bonding, staff would <br />like to seek new direction from the City Council. <br /> <br />Action Statement: <br /> <br />Based upon discussion. <br /> <br />Reviewed by: <br /> <br />City Administrator <br />Finance Officer <br /> <br />CCWS: 01/10/06 <br /> <br /> <br />