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August 11, 2010 Page 4 of 5 <br />Motion by Councilmember Ph&ps, seconded by Councilmember Bauman to approve the <br />' resolution adopting the proposed tax 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 Adopting the Long -Term Financing Plan for the Capital Asset <br />Replacement Plans. Report No. 10-198. Resolution No. 10-056. <br />Finance Director Maters reported a 15 year model has been implemented, in order to provide a stable and <br />predictable budget to address the six plans included in the City's Capital Budget <br />Finance DirectorMaiels 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 Maiers 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 Counalmember 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 Extension to Listing Agreement with Minnesota Brokerage Group for Sale <br />of 609 Old Highway 8 NW. Repan No. 10-191. *Movedfrom Consent Agenda <br />Councilmember Phillips suggested not reducing the asking price, because there haven't been any <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 25th <br />Following the annual meeting, a meeting to discuss negotiations for the next L2SAGIA <br />agreement. <br />3. Resolution Adopti <br />the Long -Term <br />Financing Plan for tt <br />Capital Asset <br />Replacement Plans. <br />Report. No. 10-198. <br />Resolution No. 10-0: <br />4. Comidaafiat of <br />ExWnaonto listing <br />Agteanan with Nlh e <br />BmkaageGoupfcrsat <br />of6090ldHghwayV <br />Report No, 10-191. *Ab <br />from Cone d Ag4- <br />Commission Liaisoi <br />Reports, <br />Announcements an. <br />Updates <br />