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August 11, 20 t0 Page 4 of 5 <br />Motion by Councilmember Phillips, seconded by Councilmember Bauman to approve the <br />resolution adopting the proposed tar levies for taxes payable in 2011 for the Lake Diane Storm <br />Sewer Improvement Taxing District, excluding all reference to Bicentennial Pond, and direct staff <br />to schedule meetings for an alternative future taxing district <br />4 Ayes, 0 Nays, Motion Carried <br />1 Abstention; Councilmember Burg <br />3. Resolution Adopti <br />3. Resolution Adopting the Long -Term Financing Plan for the Capital Asset <br />the Long -Term <br />R lacement Plans. Report No. 10-198. Resolution No. 10-056. <br />� p <br />Financing clan for d <br />Capital Asset <br />Replacement Plans. <br />Finance Director Maters reported a 15 year model has been implemented, in order to provide a stable and <br />Report No. 10-198. <br />predictable budget to address the six plans included in the City's Capital Budget. <br />Resolution No. 10-0: <br />Finance Director Maiers reported in 2009 the City ended with a surplus in their Fund Balance Target Account of <br />$1.1 million. It was recommended that be transferred to the Fleet Non -Fleet account: <br />Another recommendation was that transfers be made from the Capital Project Fund to the Pavement <br />Management Fund over the next several years. Finance Director Maters explained the use of Equipment <br />Certificates to finance the purchase of public safety equipment, road construction or maintenance <br />equipment, and other capital equipment provided the equipment has an expected useful life at <br />least as long as the terms of the debt. <br />Motion by Councilmember Phillips, seconded by Councilmember Burg to approve the resolution <br />approving the Long -Term Financing Plan for the Capital Asset Replacement Plans. <br />5 Ayes, 0 Nays, Motion Carried <br />4. Consideration of <br />Extension to Listing <br />4 Consideration of Extension to Listing Agreement with Minnesota Brokerage Group for Sale <br />Mimes <br />AgnkrWinn for Sal <br />Brokerage <br />of 609 Old Flighway 8 NW. Report No. 10-191. *Moved from Consent Agenda. <br />Godx ghway 8 P <br />Report No. 10-191. `Ma <br />Councilmember Phillips suggested not reducing the asking price, because there haven't been any <br />f --Co ni <br />offers to date. <br />Motion by Councilmember Phillips, seconded by Councilmember Bauman to direct staff to not <br />adjust the price and execute paperwork for a six month listing. <br />5 Ayes, 0 Nays, Motion Carried <br />Commission Liaison Reports, Announcements and Updates <br />Dean Lotter <br />City Manager Lotter reported the annual meeting with the Army is scheduled for August 25t1 . <br />Following the annual meeting, a meeting to discuss negotiations for the next L2SAGIA <br />agreement. <br />Commission Liaisoi <br />Reports. <br />Announcements an, <br />Updates <br />