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1996-11-25 CC Minutes . ALBERTVILLE CITY COURCIL SPECIAL HEftING November 25, 1996 Albertville City Hall 6:15 PM PRESENT: Mayor Michael Potter, Councilmembers Curt Muyres, Duane Berning, John Vetsch, and Sharon Anderson (6:43 PM), City Administrator Garrison Hale, City Clerk Linda Houghton, City Attorney Mike Couri, City Engineer Peter Carlson, Financial Advisor Bob Thistle Mayor Potter called the special meeting to order. Muyres made a motion to approve the agenda as presented. Berning seconded the motion. All voted aye. As requested by Mr. Thistle, the Council agreed to address Item 2a(l) immediately before Item 2a(4). . City Attorney Couri reviewed the agreement with John-George, Inc. to donate land for the CSAH 19/37 Intersection Realignment Project. The agreement has been signed by John-George, Inc. If the Counci I approves the agreement, The Wright County Board of Commissioners will consider the agreement at their meeting on November 26, 1996. If the Council does not approve the agreement, there will be no reason to proceed with the bond issue. Muyres made a motion to approve the Agreement wi th John- George, Inc. as presented. Potter seconded the motion. All voted aye. Berning made a motion to adopt RESOLUTION '1996-68 ti tl ed DECLARING THE OFFICIAL INTENT OF THE CITY OF ALBERTVILLE TO REIMBURSE CERTAIN EXPENDITURES FROM THE PROCEEDS OF BONDS TO BE ISSUED BY THE CITY. Vetsch seconded the motion. All voted aye. Financial Advisor Bob Thistle explained the offer from First Bank to purchase the bond issue with an overall interest rate of 5.32%. The bond will be a ten-year issue and will be callable at the end of seven years. . Muyres made a motion to approve RESOLUTION '1996-69 titled A RESOLUTION AWARDING THE SALE OF $400,000 GENERAL OBLIGATION BONDS, SERIES 1996A; FIXING THEIR FORM AND SPECIFICATIONS; DIRECTING THEIR EXECUTION AND DELIVERY; AND PROVIDING FOR THEIR PAYMENT. Berning seconded the motion. All voted aye. The Council reviewed the memo from City Attorney Couri regarding the return of the excess TIF funds from TIF Districts 1, 2, 3, and 4. Couri and Linda have met wi th the Wright County . ALBERTVILLE CITY COUNCIL SPECIAL MEETING November 25, 1996 Page 2 of 2 Auditor and her staff to explain how the City had calculated the amount to be returned. The Wright County Board of Commissioners have reviewed the documentation and have approved the amount to be returned at $203,481. The Ci ty can expect to receive between $50,000 and $60,000 as payment of the City's portion of the TIF excess money. The money can be used in any way the Council wishes. It has previously been discussed that the funds would be included with the closed bond fund account. Berning made a motion to approve returning $203,481 to Wright County, to bill the previous auditor for the expenses incurred in tracking the TIF funds, and to request from the County Auditor verification that the TIF districts have been decertified. Muyres seconded the motion. All voted aye. . City Engineer Pete Carlson has reviewed the soil borings report on the Barthel Industrial Drive lot. He believed the information is incomplete. To get adequate information on the actual building site, additional borings will be needed. Carlson has a quote for the additional borings in the amount of $1,335. Anderson made a motion to table further discussion on the additional borings to December 2, 1996, to enable the administrator to find where the funds wi 11 come from. Berning seconded the motion. All voted aye. Potter made a motion to adopt RESOLUTION 1996-67 titled RESOLUTION ASSESSING DELINQUENT SEWER AND STORM WATER ACCOUNTS. Anderson seconded the motion. All voted aye. Anderson made a motion to table discussion on snow plowing to the December 2, 1996, meeting. Vetsch seconded the motion. All voted aye. Anderson made a motion to adjourn at seconded the motion. All voted aye. 7:00 PM. Berning 4ffij~ Mich~rl potte..r! 1 c i Mayor .