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<br />. <br /> <br />. <br /> <br />. <br /> <br />5.2. <br /> <br />7.2. <br /> <br />City Council Nlinutes <br />February 20, 2007 <br /> <br />Page 3 <br /> <br />Carson Business Park located at 18201 Carson Street. She stated that all application materials <br />have been submitted with the exception of a copy of their food license. Ms. Allard indicated <br />that the attorney for the applicant stated that they wouldn't receive their food license until <br />approximately one week prior to their opening. Chipotle expects to open around March 15. <br /> <br />MOVED BY COUNCILMEMBER FARBER AND SECONDED BY <br />COUNCILMEMBER ZERWAS TO APPROVE THE ON-SALE AND SUNDAY <br />LIQUOR LICENSES FOR CHIPOTLE MEXICAN GRILL OF COLORADO, <br />LLC WITH THE FOLLOWING TWO CONDITIONS: <br /> <br />1. A COpy OF THE FOOD LICENSE MUST BE SUBMITTED TO THE <br />CITY. <br />2. THE LICENSES WILL BECOME EFFECTIVE UPON APPROVAL OF <br />THE STATE PUBLIC SAFETY LIQUOR CONTROL DIVISION AND <br />REMAIN IN EFFECT UNTIL JUNE 30, 2007. <br /> <br />MOTION CARRIED 5-0. <br /> <br />Resolution 07-21 Providing for the Sale 0[$2.875.000 Electric Revenue Bonds Series <br />2007 A <br /> <br />Finance Director Tim Simon stated that the Elk River Municipal Utilities Commission has <br />requested that the city issue Electric Revenue Bonds of $2,875,000 for a new substation and <br />feeders for the city's municipal electric utility. Mr. Simon indicated that the Utilities <br />Commission unanimously approved the sale of the bonds at their meering earlier today. <br /> <br />Councilmember Morin stated that the pre-sale report indicates that because the city expects <br />to issue more than $10,000,000 in tax-exempt obligations in 2007, the bonds will not be <br />bank qualified and will carry a slightly higher interest rate. He questioned if previously issued <br />bonds can be adjusted or if this just applies to bonds issued in 2007. Mr. Simon indicated <br />that it just applies to bonds issued in 2007. <br /> <br />MOVED BY COUNCILMEMBER GUMPHREY AND SECONDED BY <br />COUNCILMEMBER FARBER TO ADOPT RESOLUTION 07-21 PROVIDING <br />FOR THE SALE OF $2,875,000 ELECTRIC REVENUE BONDS, SERIES 2007A. <br />MOTION CARRIED 5-0. <br /> <br />Resolution Approving Elk River Municipal Utilities' Participation in Development of <br />Brookings - Twin Cities Transmission Project <br /> <br />Elk River Municipal Utilities General Manager Bryan Adams stated that CapX 2020 initiative. <br />is a group of electric utilities joining together to identify and construct necessary generation <br />and transmission facilities to meet Minnesota's needs for the year 2020. Mr. Adams <br />explained that in May 2006, the Elk River Municipal Utilities Commission authorized joining <br />Midwest Municipal Transmission Group (MMTG) as a vehicle to explore the potential to <br />buy into the transmission system. He stated that due to the successful negotiaring efforts of <br />MMTG, ERMU now has the opportunity of buying into the transmission system. He stated <br />that the first transmission project is a 345kv line from Brookings to Twin Cities at a cost of <br />approximately $600 million. Elk River's load share is approximately $2 million which will be <br />paid $300,000 over three years. Central Minnesota Municipal Power Agency (CMMP A) will <br />be execuring the contract on behalf of MMTG and CMMP A members that are participaring <br />