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<br />Page 2 <br /> <br />City Council Minutes <br />June 22. 1987 <br /> <br />e <br /> <br />Discussion <br />the City <br />works on <br />come out <br />the City <br />own. <br /> <br />was held regarding police fines and citations and what share <br />received. Lori Johnson. Finance Director. explained that it <br />a percentage basis. Council also questioned how the city would <br />if they were to do their own prosecuting. Staff explained that <br />would probably come out with less cost by handling their <br /> <br />Explainations were given regarding the following: <br /> <br />Professional Services - Building and Zoning: <br />Expense related to plats and developments that are billed back <br />to the developers. <br /> <br />Utilities - Streets: <br />Includes street lights which is paid by the City to Utilities <br />and then reimbursed by Utilities as revenue source. <br /> <br />Capital Outlay <br />Architect <br />expenses <br />expenses <br /> <br />- Streets: <br />fees for the public works building and some minor <br />for construction of the building. The construction <br />will be reimbursed by the escrow account. <br /> <br />e <br /> <br />Discussion was held on the Park Dedication Fund Accounts receivable. Lori <br />Johnson explained that the park dedication fees from a 1980 development <br />were recorded then decreased because of an error in the apprraisal. and <br />the figures were not adjusted on City books at that time and were now <br />being corrected. Also. the Hobbit Hills situation was discussed and it <br />was stated that these are expenses the City must absorb. <br /> <br />On page 35 of the audit. the 101 Bridge Fund was discussed. It was <br />clarified that this money will come from the State once all the figures <br />are collected from Wright County. <br /> <br />There will be a fund balance left over in the Water Tower Project fund. <br />After the Water Tower project is complete. this will be transferred to the <br />Water Tower debt service fund. <br /> <br />Discussion was held regarding 1977 Refunding and Improvement and 1982 <br />Improvement bonds and whether they should be defeased or called as they <br />have an excess cash balance. It was questioned whether to payoff bonds <br />using securities or cash. By paying off bonds from 1977 and 1982. <br />approximately $95.000 would be freed up. <br /> <br />Mayor Gunkel questioned the cost of having such an option investigated and <br />Groen stated that he would be willing to do an account verification on the <br />cost to be incurred and would come back before the City Council to discuss <br />figures. <br /> <br />e <br /> <br />COUNCILMEMBER TRALLE <br />INVESTIGATE THE 1977 <br />CALLING THE BONDS. <br />MOTION CARRIED 4-0. <br /> <br />MOVED THAT ABDO. ABDO. EICK BE AUTHORIZED TO <br />AND 1982 BONDS FOR APPROPRIATE ACTION OF DEFEASING OR <br />COUNCILMEMBER HOLMGREN SECONDED. THE MOTION. THE <br />