12-22-2003 CC MIN - Laserfiche WebLink

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City Council Minutes December 22, 2003 MOTION CARRIED 5-0. Page 2 5.1. Swearing in of Officer Christopher Morgan Police Chief Jeff Beahen introduced Christopher Morgan as a new police officer for the city. Mayor I,Llinzing swor~ in Officer Morgan and Nh:. Morgan's father, a retired St. Louis Park police officer, pinned the badge on his son's uniform. 4. Open Mike No one appeared for Open Mike. 5.1.A. Ice Arena Update 5.2, Ice Arena Manager Rich Czech stated that there have been a few ongoing problems with the floor o£ the Barn. He stated that he closed the rink for four hours today to dig up and repair two sections in the pipes that were dirty. He was concerned about the safety of skaters on the ice if it gets too soft in this area. He stated that he is unsure if the repair xvill fix the "bad ice" problem and he will not 'kno~v the results for a couple of days. Government Finance Officers Association (GFOA) Certificate of Achievement Award City Administrator Pat Klaers informed the Council that the city has received the Certificate of Achievement for excellence in financial reporting for the year 2002. He noted that this is the 14th year in a row that the city has received the award. The City Council commended the finance department for their great work. 5.3. Consider Resolution Calling for Redemption of Outstanding Bonds: General Obligation Sewer Revenue Bonds, Series 1994B; General Obligation Tax Increment Bonds, Series 1994D Finance Director Lori Johnson stated that the sewer revenue and the tax increment bonds should be called to save interest costs. She stated that there is adequate cash available in the funds to prepay the issue and still leave funds for capital outlay items. She stated that prepaying these bonds ~vill save the city approximately $109,000 in interest. Councilmember Motin questioned why the liquor store debt can't be paid off early. Ms. Johnson stated that language in the liquor store bonds prohibits the city from paying this debt off early unless a second store is going to be constructed. She stated that this was a requirement of the financing agency. MOVED BY COUNClLMEMBER TVEITE AND SECONDED BY COUNCILMEMBER MOTIN TO ADOPT RESOLUTION 03-87 CALLING FOR REDEMPTION OF OUTSTANDING: GENERAL OBLIGATION SEWER REVENUE BONDS, SERIES 1994B, DATED JUNE 1, 1994; GENERAL OBLIGATION TAX INCREMENT BONDS, SERIES 1994D, DATED JULY 1, 1994. MOTION CARRIED 5-0.