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Special Meeting <br />Park and Recreation Commission <br /> March 5, 1981 <br /> <br />Members Present: Dennis Donovan, Janice Johnson, Dick Swanson, Terry <br /> McLean, John Lichter <br /> <br />Others Present: Councilmember Sue Van Wagner <br /> <br />The meeting was called to order at 7:10 P.M. <br /> <br />Recap of bond issue: <br /> <br /> 1) December 16, 1980 Council meeting a motion was made to <br /> proceed with 8% interest rate limit. The Council authorized <br /> money for brochure printing. <br /> <br />2) Dennis Donovan went over the brochure layout tentatively <br />approved by the Council on February 24, 1981. Council still <br />wants to hold to 8% figure. This is a problem as 8.75% is <br />the likely rate we could obtain now according to Springstad. <br />We also plan to use this rate in our brochure to explain <br />taxation costs. <br /> <br />3) Since meeting Springstad advised it would be foolish to <br />proceed at an 8% rate. <br /> <br />A motion was made by Swanson, seconded by McLean that the Park Commission <br />will not proceed with the brochure until a realistic interest rate limit in <br />agreed upon by the Council. The Commission should not place itself in a <br />position of presenting misleading information to the public. It was <br />approved unanimously. <br /> <br />The Council requested that no Commission members attend the Fun Day <br />scheduled at Ramsey Elementary School on March 6, 1981 to promote the bond <br />issue. <br /> <br />The meeting was adjourned at 8:03 P.M, <br /> <br />Respectfully submitted, <br /> <br />John Lichter, <br />Secretary <br /> <br /> <br />