Minutes - Council - 12/13/2005 - Laserfiche WebLink

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4) Authorization of the Issuance and Awarding the Sale of $760,000 General Obligation Equipment Certificates of 2005 Finance Officer Lund explained that earlier tonight, the Council authorized as part of the 2006 levy and budget, that capital equipment would be funded partially through the issuance of capital equipment certificates. The amount of the certificates to be issued is $745,000. The debt service levy will be funded over a five-year period at an average interest rate of 3.94%. She advised the Finance Committee recommended the Council adopt the resolution authorizing the issuance and awarding the sale of $745,000 General Obligation Equipment Certificates of 2005. Motion by Councilmember Pearson, seconded by Councilmember Elvig, to ratify the recommendation of the Finance Committee in Case No. 4 and to adopt Resolution #05-12-432 authorizing the issuance and awarding the sale of $745,000 General Obligation Equipment Certificates of 2005. Motion carried. Voting Yes: Mayor Gamec, Councilmembers Pearson, Elvig, Cook, Jeffery, and Strommen. Voting No: None. Absent: Councilmember Olson. 5) Authorizing Issuance and Awarding the Sale of $1,035,000 General Obligation Taxable Tax Increment Bonds of 2006 Councilmember Strommen indicated this case relates to the purchase agreement for the B & A Cylinder property. The recommendation of the Finance Committee was that the Council authorize the issuance and sale of $1,035,000 General Obligation Taxable Tax Increment Bonds. Motion by Councilmember Elvig, seconded by Councilmember Cook, to ratify the recommendation of the Finance Committee in Case No. 5 and to authorize the adoption of Resolution #05-12-433 authorizing the issuance and sale of $1,035,000 General Obligation Taxable Tax Increment Bonds. Motion carded. Voting Yes: Mayor Gamec, Councilmembers Elvig, Cook, Jeffrey, Pearson, and Strommen. Voting No: None. Absent: Councilmember Olson. 6) Consider Authorization of Contract for Town Center Project Management Services City Administrator Norman reviewed that the City Council discussed the need for private management services during a work session held on November 28, 2005. Staff explained to the City Council that the City is undertaking a number of projects within the core area of the Ramsey Town Center based on the terms of the first amendment to the Master Development Agreement. Two of the projects include a proposed cinema project and a proposed community/fitness center project. The City has been involved in a series of informal conversations that may also include the City participation in such projects as the "liner buildings" project between the Municipal Parking Ramp and the "liner buildings" that encompass the second ramp, sometimes referred to as the Sunwood/Grand Project. Mr. Norman reviewed that staff proposed a project management role to the core area of the Town Center. The project management role is critical because the City Council / December 13, 2005 Page 30 of 37