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<br />. <br /> <br />. <br /> <br />. <br /> <br />MINUTES <br />CITY OF ARDEN HILLS, MINNESOTA <br />CITY COUNCIL MEETING <br />JUNE 28, 1999 <br />7:30 P.M. - ARDEN HILLS CITY COUNCIL CHAMBERS <br /> <br />CALL TO ORDER/ROLL CALL <br /> <br />Pursuant to due call and notice thereof, Mayor Dennis Probst called to order the regular <br />City Council meeting at 7:30 p.m. <br /> <br />Present: <br /> <br />Mayor Dennis Probst, Councilmembers Beverly Aplikowski, Gregg <br />Larson, Paul Malone, and Lois Rem. <br /> <br />Absent: <br /> <br />None <br /> <br />Also present were City Administrator, Brian Fritsinger; Assistant to the City <br />Administrator, Kevin Ringwald; City Accountant, Terrance Post; City Engineer, Greg <br />Brown, BRW; and Recording Secretary, Lori Rolfson. <br /> <br />ADOPT AGENDA <br /> <br />Mr. Fritsinger suggested that the agenda be amended by switching the order of items 8.A. and <br />8.B. under Unfinished and New Business. <br /> <br />MOTION: <br /> <br />Councilmember Aplikowski moved and Councilmember Larson seconded a <br />motion to adopt the agenda for the June 28,1999, regular City Council meeting, <br />as amended. The motion carried unanimously (5-0). <br /> <br />PUBLIC HEARING. PRESBYTERIAN HOMES BOND ISSUE <br /> <br />A. Resolution #99-19, Resolution Reciting a Proposal for a Housing Finance Program to <br />Finance an Elderly Housing Development Project, Giving Preliminary Approval to the <br />Project and the Issuance of Revenue Bonds Pursuant to Minnesota Law, and Ratifying <br />the Preparation of a Housing Finance Program (Presbyterian Homes Obligated Group <br />Project) <br /> <br />Mayor Probst opened the public hearing at 7:31 p.m. <br /> <br />Mr. Fritsinger explained that the City Council had before it a resolution, which would give <br />preliminary approval for the issuance of bonds for Presbyterian Homes. The City has, on several <br />occasions, issued bonds on behalf of Presbyterian Homes that permitted the refinancing of an <br />existing Revenue Bond for Presbyterian Homes. These funds were used exclusively at Arden <br />Hills facilities. <br /> <br />The total amount of bonds being proposed is not to expected to exceed $30,000,000. This bond <br />issuance is unique from other revenue bonds that have been issued in the past, in that this bond <br />