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<br />I <br /> <br />I <br /> <br />I <br /> <br />COUNCIL PROCEEDINGS <br />CITY OF NEW BRIGHTON <br /> <br />Pursuant to notice thereof, a special meeting of the New Brighton City Council was held Tuesday, November 30, <br />1993, at 5:30 p.m. in the municipal building, 803 Fifth Avenue NW. <br /> <br />Present: <br /> <br />Mayor Benke, Councilmembers Gunderman, and Rebelein. <br /> <br />Absent: <br /> <br />Council members Larson and Williams <br /> <br />Also Present: <br /> <br />Margaret Egan, Finance Director <br />Matthew Fulton, City Manager <br />Dave MacGillivray, Fiscal Consultant for Springsted <br /> <br />Council Business <br /> <br />Finance Director Margaret Egan presented for consideration two actions relating to <br />the financing of the Family Service Center. Both actions require the consideration <br />and review of the City Council and the Economic Development Authority (BDA). <br /> <br />The frrst action pertains to the EDA's consideration and adoption of a resolution <br />authorizing the sale of the Family Service Center bonds. Note: See General <br />Business Section of the Economic Development Authority Meeting Minutes of <br />November 30, 1993. <br /> <br />The second action involves the Council's authorization to execute a lease purchase <br />agreement with the EDA. Staff indicated that the required lease and trust agreements <br />were a necessary part of the bonding process. <br /> <br />Gunderman inquired whether staff had reviewed the documents and were satisfied. <br />Staff noted confidence with the documents and indicated that the agreements had <br />been prepared and reviewed by our City Attorney. <br /> <br />Motion by Rebelein, seconded by Gunderman, to WAIVE THE READING AND <br />ADOPT THE RESOLUTION AUTHORIZING THE EXECUTION AND <br />DEUVERY OF A LEASE PURCHASE AGREEMENT WITH THE NEW <br />BRIGHTON ECONOMIC DEVEWPMENT AUTHORITY; AND APPROVING <br />THE ISSUANCE OF BONDS BY THE NEW BRIGHTON ECONOMIC <br />DEVEWPMENT AUTHORITY. <br /> <br />3 Ayes - 0 Nayes, Motion Carried. <br /> <br />Adiournment <br /> <br />Motion by Gunderman, seconded by Rebelein to ADJOURN THE MEETING. <br /> <br />3 Ayes - 0 Nayes, Motion Carried. <br /> <br />Meeting was adjourned at 5:45 p.m. <br /> <br />R~~ <br /> <br />ATIEST: <br /> <br /> <br />lerk <br /> <br />Council Business <br /> <br />Family Service Center <br />Bond Sale and Lease <br />Purchase Agreement <br />Resolution 93-134 <br />Resolution 93-D3(B) <br /> <br />Adiournment <br />