PRECM 10-02-1974 - Laserfiche WebLink

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(~') Bond Issue `~he Board. discussed with Mayor Bro:.ander the process o° bondii~.g by the C~i;y. The Board was informed of the statutory limitations and how these limitations are reached" Smith asked about the 6 2/3f of assessed evaluation for the City of New Brighton. It was explained that this was part of the statutory regulations on municipality's sales of bonds. Smith pointed out the current problem of inflation. The Mayor discussed the recommended bonded indebtedness limits and the importance of fiscal' management. It was further explained that with current levy limitations and inflation,fiscal management was very important when dealing with bonded indebtedness. The Board asked about industrial/comr~ie~^cial develapmen;tiaithin New Brighton and how this affects the assessed evaluation U?hen dealing with bonded indebtedness. It was explained to the Lcard that the current procedure for assessed evaluation of industrial/commerical development is broken down into a 60/0 spread, with 60f remaining in the community that the industrial/commerical development is located and ~kOf spread over the metropolitan area. The Board also reviewed the following letters: Letter from Park Board to Mayor Bromander and letter from Thomas Lewcock, City Manager, to A~•iyn Gunderman in their relationship to bonded i_Zdebtecln.ess. Bahl indicated that at this time ~.t is necessary for the Park Board to determine its priorities and consider the future development of L~.~ ~g Lake . It was the consensus of the Board to abandon, at this time, the pursuit ,f a bond i~~sue for park projects . The Board asked the Mayor about the golf course situation. Tt was explained that the golf course ~_ssue had been presented to Ramsey County Park Board for possible purchase through Ramsey County Open Space funds. The Board was also informed that efforts ere being made to gain support of the surrounding communities including: Arden Hills, Mounds View and St. Anthony. Review of Capital Improvements Pla~~ The Board was informed of the Department's report to the City Manager concerning Capital Improvements Plan 1975-79• The Board reviewed this report and offered suggestions for changes. The plan was discussed in its entirety and items were categorized by their desired prio~i~~y. It was discussed that during 1976, the tennis court project at Freedom Park should also include lights, if feasible. It we.s pointed out by Dahl that the hard-surface and spray pool project at Hanseli Park did not appear in the report. It w~,s explained that this project has lower priority but could be included in the 1976 proposed projects. Smith asked how effective the operation of spray pools has been in comparison to relation costs and questioned whether a spay pool should be installed at Hansen Park because of Gast experience. The project