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<br />City Council Minutes <br />September 12, 1994 <br /> <br />Page 4 <br /> <br />e <br /> <br />1992 C Improvement Bond - Scheduled levy of $12,509; can be <br />canceled due to prepayment of <br />assessments, and also a letter of credit to <br />cover any shortfall. <br /> <br />Lori stated that the 1986 and 1992 Improvement Bonds were not included in the <br />proposed tax levy resolution because she expected they would be canceled, but <br />that Council action is needed to cancel them. The 1991 Equipment Certificate <br />was included at $23,822, which is now being reduced to $18,822. This $5,000, can <br />be transferred to the general fund levy or to the surface water management levy. <br /> <br />COUNCILMEMBER HOLMGREN MOVED TO APPROVE THE THREE DEBT SERVICE LEVY <br />REDUCTIONS AS OUTLINED ABOVE. COUNCILMEMBER FARBER SECONDED THE <br />MOTION. THE MOTION CARRIED 5-0. <br /> <br />COUNCILMEMBER HOLMGREN MOVED TO ESTABLISH THE TRUTH IN TAXATION <br />PUBLIC HEARING DATE AS DECEMBER 5, 1994, AT 7.00 P.M. AT THE ELK RIVER CITY <br />HALL. COUNCILMEMBER FARBER SECONDED THE MOTION. THE MOTION CARRIED 5- <br />O. <br /> <br />COUNCILMEMBER HOLMGREN MOVED TO ESTABLISH CONTINUATION DATE FOR THE <br />TRUTH IN TAXATION PUBLIC HEARING DATE AS DECEMBER 12, 1994 AT 8:00 P.M. AT <br />THE ELK RIVER CITY HALL. COUNCILMEMBER FARBER SECONDED THE MOTION. THE <br />MOTION CARRIED 5-0. <br /> <br />tit <br /> <br />COUNCILMEMBER FARBER MOVED TO RESOLUTION 94-94, A RESOLUTION <br />AUTHORIZING THE PROPOSED TAX LEVY FOR CALENDAR YEAR 1995, WHICH SETS THE <br />GENERAL FUND AT $3,807,700 AND THE NET TAX LEVY AT $2,223,347. <br />COUNCILMEMBER HOLMGREN SECONDED THE MOTION. THE MOTION CARRIED 5- <br />O. <br /> <br />COUNCILMEMBER HOLMGREN MOVED TO APPROVE RESOLUTION 94-95, A <br />RESOLUTION APPROVING THE HOUSING AND REDEVELOPMENT AUTHORITY 1995 TAX <br />LEVY. COUNCILMEMBER FARBER SECONDED THE MOTION. THE MOTION CARRIED 5- <br />O. <br /> <br />COUNCILMEMBER FARBER MOVED TO APPROVE RESOLUTION 94-96, A RESOLUTION <br />APPROVING THE 1995 TAX LEVY FOR ECONOMIC DEVELOPMENT PURPOSES FOR THE <br />ECONOMIC DEVELOPMENT AUTHORITY BUDGET. COUNCILMEMBER HOLMGREN <br />SECONDED THE MOTION. THE MOTION CARRIED 5-0. <br /> <br />Pat Klaers noted that October 31, 1994, has been set aside as a possible meeting <br />date for a surface water management and budget work session. The budget <br />proposal still has a $117,500 gap between the expenditures of $3,807,700 and the <br />available revenues that have been identified by the Council. <br /> <br />e <br /> <br />Council member Holmgren asked the Council how they felt about requesting <br />funds from the Utilities Commission to balance the City's budget. Councilmember <br />