08-30-1993 CC MIN - Laserfiche WebLink

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. . . Elk River city Council Meeting August 30, 1993 Page 3 4.2. Consider Resolution Certificates Awarding the Sale of the 1993 Equipment Lori Johnson, Finance Director, explained that as part of the budget process, the City Council has approved capital outlay expenditures to be financed by Equipment Certificates. She stated that the 1993 budget included $108,700 of authorized capital outlay expenditures. Lori Johnson indicated that the Bank of Elk River has offered to purchase the certificate at an interest rate of 5% over five years. Mayor Duitsman questioned how much money was left in the Contingency Fund and indicated that he would prefer to reduce or discontinue the use of the Equipment Certificates. Pat Klaers stated that $78,000 was budgeted in the Contingency Fund and, as of to date, approximately $62,000 has been used. It was the consensus of the Council that the Contingency Fund would not be used for Equipment Certificates in 1993, but that the City would try to begin phasing out Equipment Certificates starting in 1994. COUNCILMEMBER HOLMGREN MOVED TO ADOPT RESOLUTION 93-42, A RESOLUTION AWARDING THE SALE OF THE CITY'S $109,500 GENERAL OBLIGATION EQUIPMENT CERTIFICATE OF 1993, FIXING ITS FORM AND SPECIFICATIONS, DIRECTING ITS EXECUTION AND DELIVERY, AND PROVIDING FOR ITS PAYMENT. COUNCILMEMBER FARBER SECONDED THE MOTION. THE MOTION CARRIED 5-0. 4.3. Bingo License for the Church of St. Andrew The City Clerk stated that the Church of St. Andrew has made application for a license to operate bingo. She stated that the request is for an exemption from lawful gambling license as the bingo activity will be held on one day only. COUNCILMEMBER SCHEEL MOVED TO APPROVE FROM LAWFUL GAMBLING LICENSE BY THE COUNCILMEMBER FARBER SECONDED THE MOTION. THE APPLICATION FOR EXEMPTION CHURCH OF ST. ANDREW. THE MOTION CARRIED 5-0. 4.4. Jarvis Street Change Order The city Administrator indicated that the City Council recently approved a bid for an overlay project on 165th Avenue between the RDF Plant and the eastern City limits. He stated that the street/Park Superintendent has advised him that this bid is very competitive. Phil Hals, Street/Park Superintendent, indicated that due to the low price of the bid, he is requesting the Council to consider a change order which would include an overlay of Jarvis Street. The City Administrator indicated that because a section of Jarvis Street borders the City of Ramsey, he has requested that the City of Ramsey consider contributing to the project. Councilmember Scheel indicated that she would be hesitant to start the project until she received a commitment from Ramsey regarding their participation in the cost. She indicated she is not in favor of Elk