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<br />e <br /> <br />e <br /> <br />e <br /> <br />City Council Minutes <br />June 4, 2007 <br /> <br />7.4. <br /> <br />7.5. <br /> <br />Page 5 <br /> <br />MOVED BY COUNCILMEMBER FARBER AND SECONDED BY <br />COUNCILMEMBER ZERWAS TO APPROVE THE ALLOCATION OF FUNDS <br />RECEIVED FROM THE HAM LAKE FIRE AS OULINED IN THE STAFF <br />REPORT. MOTION CARRIED 5-0. <br /> <br />7.3. <br /> <br />Consider Transfer of Forfeiture Vehicle from the Police Department to the Fire <br />Department <br /> <br />Chief West explained how this item came about after the Council had already authorized <br />purchase of this forfeiture vehicle for the Police Department. <br /> <br />Mr. Potvin stated this expenditure is a great example that highlights the purpose of the <br />municipal liquor operations <br /> <br />Mr. Simon exphined that the 2007 equipment certificates would still be used to fund the <br />Impala police vehicle that was planned for the 2007 budget. He also asked for approval to <br />purchas e the final unmarked squad. <br /> <br />MOVED BY COUNCILMEMBER GUMPHREY AND SECONDED BY <br />COUNCILMEMBER ZERWAS TO ADOPT RESOLUTION 07-53 <br />AUTHORIZING A TRANSFER FROM THE MUNICIPAL LIQUOR FUND TO <br />THE GENERAL FUND. MOTION CARRIED 5-0. <br /> <br />Resolution Awarding- the Sale of 2007C General Obligation Improvement Bonds <br /> <br />Mark Ruff, Ehlers and Associates stated the bond amount has been changed to $3,090,000 <br />based on favorable interest rate results. He stated the city received a very strong Al rating <br />due to many factors including its growth, diversification, tax base, etc. He reviewed the bids <br />received for the bonds. <br /> <br />Councilmember Gumphrey abstained from voting due to a conflict of interest. <br /> <br />MOVED BY COUNCILMEMBER FARBER AND SECONDED BY <br />COUNCILMEMBER MOTIN TO ADOPT RESOLUTION 07-54 PROVIDING <br />FOR THE ISSUANCE AND SALE OF $3,090,000 GENERAL OBLIGATION <br />IMPROVEMENT BONDS, SERIES 2007C, PLEDGING SPECIAL <br />ASSESSMENTS FOR THE SECURITY THEREOF AND LEVYING A TAX FOR <br />THE PAYMENT THEREOF. MOTION CARRIED 4-0. <br /> <br />MOVED BY COUNCILMEMBER MOTIN AND SECONDED BY <br />COUNCILMEMBER FARBER TO REDUCE THE INTEREST RATE ON <br />SPECIAL ASSESSMENTS FOR THE 2007 PAVEMENT MANAGEMENT <br />PROJECT (DEERFIELD 3RD & IRVING AVENUE) TO 5.5 PERCENT. <br />MOTION CARRIED 5-0. <br /> <br />Present 2006 Comprehensive Annual Financial Report <br /> <br />Finance Director Tim Simon and Andrew Berg, Abdo, Eick, & Meyers presented the city's <br />2006 Comprehensive Annual Financial Report (CAFR). Mr. Berg stated there were no <br />instances of non-compliance. <br />