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<br />Council Meeting Minutes <br />January 24, 1995 <br /> <br />Page 2 <br /> <br />Special Order of Business. continued <br /> <br />City Manager Matthew Fulton announced that the City received a $10,000 donation <br />from the Tri-City Legion to be used for a flag presentation at the intersection of Old <br />Hwy 8 and 10th St. The City greatly appreciates the Tri-City's donation and <br />support. Ed Lindquist, Tri-City, presented an additional donation to be used for the <br />purchase of new City street flags. <br /> <br />Consent Agenda <br /> <br />Motion by Larson, seconded by Samuelson, to APPROVE THE CONSENT <br />AGENDA ITEMS AS FOLWWS: <br /> <br />1. <br /> <br />CONSOLIDATED VOUCHERS: 062036-062178 FOR A GRAND <br />TOTAL OF $863,817.53. <br /> <br />2. <br /> <br />CONSIDERATION OF APPROVAL TO WAIVE THE READING AND <br />ADOPT THE RESOLUTION EST ABLISIDNG FEES FOR PUBLIC <br />PREMISES LIQUOR LICENSES AND PER-EVENT FEES. <br /> <br />3. <br /> <br />CONSIDERATION OF APPROVAL OF SPECIFICATIONS FOR <br />PARKS DEPARTMENT MOWER AND AUTHORIZE <br />ADVERTISEMENT FOR BIDS. <br /> <br />4. <br /> <br />CONSIDERATION OF APPROVAL FOR EXEMPTION FROM <br />LAWFUL GAMBLING LICENSE FOR ST. JOHN THE BAPTIST <br />CHURCH ON MAY 2, 1995. <br /> <br />4 Ayes - 0 Nayes, Motion Carried. <br /> <br />Public Hearinl! - Housing Revenue Bonds for Polynesian Village - 7:40-7:42 p.m. <br /> <br />Community Development Director Kevin Locke presented the amended housing <br />program for issuance of housing revenue bonds for Polynesian Village Apartments. <br /> <br />In December, Council gave preliminary approval to issuance of tax exempt bonds up <br />to $16.28 million and authorized application for bonding authority to owners, Real <br />Estate Equities. The State then granted authority for a bond issue of $14.5 million. <br />State Statutes require a public hearing, resolution, and final bond approval be held <br />before issuance. The applicant is not ready to issue the bonds, but the public <br />hearing and program adoption can be held tonight. <br /> <br />The bonds will refinance the property and enable $3.5 million in improvements to <br />be made. Housing revenue bonds are a limited obligation of the City, payable from <br />the project revenues and other security pledged by the owners. The bonds do not <br />affect the City's credit nor can the payment be charged against the City's taxing <br />powers. The cost issuance is the expense of the building owners. <br /> <br />There were no comments from the audience. <br /> <br />Motion by Williams, seconded by Samuelson, to CLOSE THE HEARING. <br /> <br />4 Ayes - 0 Nayes, Motion Carried. <br /> <br />Special Order of <br />Business <br /> <br />Tri~City Donation <br /> <br />Consent Agenda <br /> <br />Vouchers <br />Report 95-007 A <br /> <br />Liquor License Fees <br />Report 95-008A <br />Resolution 95-007 <br /> <br />Specs for Park Mower <br />Report 95-009A <br /> <br />St. John Gambling <br />License <br />Report 95-01OA <br /> <br />Public Hearing <br /> <br />Polynesian Village <br />Housing Revenue <br />Bonds <br />Report 95-011A <br />Resolution 95-008 <br /> <br />I <br /> <br />I <br /> <br />I <br />