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I I I Council Meeting Minutes May 24, 1994 Page 5 Council Business. continued Resident, 621 Silver Lake Road, noted discouragement that the speed levels are controlled by the State and not the City. She said the speeds should be decreased to 30 mph, and feels 40 mph speeds are dangerous when children are present. Benke noted that the jurisdiction issue was brought before the Legislature many times, but never passed. Dan Soler, Ramsey County, said the Legislature had discussed. many times the lowering of residential speed limits from 30 to 25 mph, and the provision that speed limits would be set by local agencies. However, the authority for setting the speed limit on Silver Lake Road is the State, and as of now, the County has to work within the current State Statutes. One resident added that signs could be posted stating the signals are coordinated to maintain a 35 mph speed. Motion by Larson, seconded by Williams, to APPROVE THE PLAN CHANGE TO PROVIDE A TWO WAY LEFT TURN LANE BETWEEN 5TH STREET AND 7TH STREET ALONG SILVER LAKE ROAD AND MAKE THE APPROPRIATE ADJUSTMENTS IN LANDSCAPING. 5 Ayes - 0 Nayes, Motion Carried. Benke noted that staff will continue to keep the residents informed. Proper presented a petition in regards redredging of a ponding area in the 14th St. NW and 26th Avenue area. The petition requests that the City excavate the small stormwater pond located. south west of 14th St. and 26th Ave. The pond is overgrown with vegetation similar to the Knollwood pond that the City excavated and cleaned out last winter. The petition is signed by five of the eight lots abutting the pond. Benke requested that staff conduct a review of the need for a policy to address these ponding issues. Proper will investigate and report back to Council. Motion by Gunderman, seconded by Larson, to ACCEPT THE PETITION FOR POND EXCAVATION AND ORDER ENGINEERING FEASffiILITY STUDY. 5 Ayes - 0 Nayes, Motion Carried. Finance Director Margaret Egan presented the issuance and sale of bonds. The City uses bonds to finance major capital improvement projects such as street work, the meter replacement program, sewer and water main repairs. The principal and interest on the bonds are repaid with property taxes, sewer and water customer charges and special assessments. The repayment term is usually a ten year period. In 1994, two bonds issues are proposed. The first bond is a $3,560,000 general obligation issue to finance street projects from 1992-1994. The second bond, is a $550,000 sewer and water revenue issue to finance 1993-1994 utility work. Council Business Silver Lake Road - Sth & 7th St. ROW Changes Report 94-122 Redredging of Pond Area - 14th St. Report 94-123 Sale and Issuance of Bonds Report 94-124 Resolution 94-064 Resolution 94-065