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<br />I <br /> <br />I <br /> <br />I <br /> <br />Council Meeting Minutes <br />May 22, 1990 <br /> <br />Page 8 <br /> <br />Council Business, continued <br /> <br />New Brighton's role is to allow the Foundation to use the City's <br />tax exempt status for issuing bonds. The Foundation is responsible <br />for any costs of issuance, bond payments, and bond securi ty. <br />Authorizing the use of the City's bond authority does not affect the <br />City's bonding limits and the City is not responsible for bond <br />repayment. <br /> <br />Rod Pakonen, representing Long Term Care Foundation, explained that <br />the revenues are pledged to the payment of all the bonds. The <br />Foundation found the lnnsbruck facility in good condition with only <br />a few repairs needed. <br /> <br />Motion by Brandt, seconded by Williams, to WAIVE THE READING AND <br />ADOPT THE RESOLUTION CALLING FOR A PUBLIC HEARING AT 7:30 P.M., JUNE <br />26, 1990, FOR THE PURPOSE OF CONSIDERING ISSUING TAX EXEMPT BONOS <br />FOR THE PURCHASE OF THE INNSBRUCK HEALTHCARE CENTER. <br /> <br />5 Ayes - 0 Nayes, Motion Carried <br /> <br />Because of the attendance of several Councilmembers at the League <br />of Minnesota Cities Conference on June 12th, Childs is recommending <br />that the June 12th Council Meeting be moved. <br /> <br />Motion by Benke, seconded by Brandt, to MOVE THE REGULARLY SCHEDULED <br />COUNCIL MEETING ON JUNE 12, 1990 TO MONDAY, JUNE 11, 1990. <br /> <br />5 Ayes - 0 Nayes, Motion Carried <br /> <br />Locke presented the sign plan amendment/special use permit for <br />Donatelle Properties. <br /> <br />The existing plan allows for three ground signs along 5th Street NW. <br />Two of the signs are located in front of the Phase I building and <br />lists that building's two tenants. The remaining sign is located <br />in front of the Phase II building and lists that building's tenants. <br /> <br />In order to keep the si gns consi stent, the app 1 i cant wi shes to <br />construct a fourth sign so .the two tenants leasing the Phase II <br />building can be identified on separate signs. The result would be <br />two buildings and four tenants each identified on a separate sign. <br /> <br />The Donatelle sign plan complies with the sign size limitations in <br />the City's Sign Ordinance. <br /> <br />Motion by Gunderman, seconded by Larson, to WAIVE THE READING AND <br />ADOPT THE RESOLUTION APPROVING SP-159. <br /> <br />5 Ayes - 0 Nayes, Motion Carried <br /> <br />Council Business <br /> <br />Issuance of Tax Exempt <br />Bonds for Purchase of <br />Innsbruck Health Care <br />Center <br />Report 90-117 <br />Resolution 90-49 <br /> <br />Change of Date for <br />June 12th Council Mtg <br />Report 90-119 <br /> <br />Sign Plan Amendment/ <br />Special Use Permit - <br />Donate 11 e Prop. <br />Report 90-120 <br />Resolution 90-46 <br />