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 MINUTES  <br />  <br />City of Arden Hills <br />1245 West Highway 96 ▪ Arden Hills Minnesota 55112 <br />Phone 651.792.7800 ▪ Fax 651.634.5137 <br />www.ci.arden-hills.mn.us <br />  <br /> <br />FINANCIAL PLANNING & ANALYSIS COMMITTEE <br />Tuesday, August 9, 2011 <br />6:00 P.M. <br />Council Chambers, Arden Hills City Hall <br /> <br />CALL MEETING TO ORDER AND ROLL CALL <br /> <br />The meeting was called to order by Jim Ostlund at 6:00 pm. <br /> <br />MEMBERS PRESENT: Jim Ostlund, Arlene Mitchell, John Braun, Jeff Johnson <br />MEMBERS NOT PRESENT: David Grant; Council Liaison, Katy Peters <br />OTHERS PRESENT: Sue Iverson, Kyle Howard, David Radziej <br /> <br />Call to Order <br /> <br />1. APPROVAL OF THE AGENDA <br />Motioned: Jeff Johnson <br />Seconded: Arlene Mitchell <br /> <br />2. APPROVAL OF April 12, 2011, MINUTES <br />Approved as amended <br />Motioned: Arlene Mitchell <br />Seconded: Jeff Johnson <br /> <br />3. UNFINISHED AND NEW BUSINESS <br />A. Introduction of David Radziej <br /> David Radziej was introduced to the Committee as a possible candidate to fill the vacant seat. <br /> <br />B. Review of the City’s Conduit Debt Policy <br />The committee reviewed the City’s current Conduit Debt policy. It was determined that no <br />change to the policy was needed and voted to accept the current policy as it stands. <br /> <br /> The reason for no change was because the temporary raise in the City’s bank qualification to <br />$30,000,000 per year expired and has been reduced to the former amount of $10,000,000 per <br />year. It was also determined that it is highly unlikely for the bank qualification to increase in <br />the near future. Since the current policy was written to reflect the amount of $10,000,000 the <br />calculation of 1/8th of 1% of the outstanding balance was still an acceptable amount. <br /> <br /> <br />4. REPORTS <br />A. Reports from the City Council <br />There were no Council updates. <br /> <br />5. ADJOURNMENT <br />Motioned: Jim Ostlund at 6:55 pm. <br />Seconded: Arlene Mitchell <br /> <br /> <br />__________________________________ __________________________________ <br />Jim Ostlund, Chair Susan K. Iverson, Finance Director