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City Council Minutes November 17, 1997 Page 2 PAY ESTIMATE #7 IN THE AMOUNT OF $106,795.00 FOR WORK COMPLETED ON THE NORTHBOUND LIQUOR STORE -- APPROVED PAY ESTIMATE #3 TO C.W. HOULE IN THE AMOUNT OF .~43,177.12 FOR WORK COMPLETED ON THE MACON STREET/RIVERVIEW DRIVE IMPROVEMENTS -- APPROVED PAY ESTIMATE #2 IN THE AMOUNT OF $72,859.35 TO COLLISYS, INC. FOR WORK COMPLETED ON THE HIGHWAY 169 FENCING AND LIGHTING PROJECT -- APPROVED PAY ESTIMATE #2 TO THOMAS AND SONS, INC. IN THE AMOUNT OF $149,463.36 FOR WORK COMPLETED ON HIGHWAY 10/SIMONET DRIVE TURN LANE IMPROVEMENTS -- APPROVED PAY ESTIMATE #2 TO THOMAS AND SONS IN THE AMOUNT OF $80,484.30 FOR WORK COMPLETED ON THE HIGHWAY 10/PROCTOR INTERSECTION IMPROVEMENTS -- APPROVED PAY ESTIMATE #6 TO R.L. LARSON EXCAVATING, INC. IN THE AMOUNT OF $2,309.69 FOR WORK COMPLETED ON THE ORONO LAKE 3RD, JOPLIN AND LOWELL AVENUE -- APPROVED PAY ESTIMATE #1 TO ELECTRIC SERVICE COMPANY IN THE AMOUNT OF $46,093.65 FOR WORK COMPLETED ON THE HIGHWAY 169 AND 197m AVENUE SIGNAL -- APPROVED COUNCILMEMBER THOMPSON SECONDED THE MOTION. THE MOTION CARRIED 5-0. 4.1. 1998 Bud.qet The City Administrator explained that since the September 8, 1997, adoption of Resolution 97-94, which established the maximum levy and budget for 1998, the city has received additional information from the county regarding the estimated tax rate in Elk River. He indicated that according to the County figures, the total tax rate will be decreasing slightly for 1998. The City Administrator questioned whether the council wanted to consider adding back some of the proposed tax revenue cuts which have been discussed since the adoption of Resolution 97-94. The City Administrator explained that if some of the tax revenue is added back, then the city tax rate will go up from what was discussed on 10/27 and 11/3, however, the total tax amount will still not exceed what was identified in Resolution 97-94 and the tax rate will be less than the 1997 total. The City Administrator suggested that the council consider developing a city tax for partially financing the core village street reconstruction program. He suggested that the street program could be started with approximately $125,000 in tax revenue at this time and then added to in 1999 and then the tax would continue on a yearly basis. Each yearly project in a large scale, city wide street program will need to be funded by assessments, reserves, and taxes. The Council discussed the pros and cons of developing a city tax for partially financing the street reconstruction of the core village. COUNClLMEMBER HOLMGREN MOVED TO FOLLOW STAFFS DIRECTION OF ADDING $125,000 IN TAX REVENUE TO BEGIN A CORE VILLAGE STREET RECONSTRUCTION PROGRAM. COUNCILMEMBER FARBER SECONDED THE MOTION. THE MOTION FAILED 2-3.