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<br />. <br /> <br />. <br /> <br />. <br /> <br />MINUTES <br />CITY OF ARDEN HILLS, MINNESOTA <br />CITY COUNCIL MEETING <br />JULY 12, 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; Public Works Director, Dwayne <br />Stafford; City Accountant, Terrance Post; City Engineer, Greg Brown, BRW; and <br />Recording Secretary, Lori Rolfson. <br /> <br />ADOPT AGENDA <br /> <br />MOTION: <br /> <br />Councilmember Aplikowski moved and Councilmember Larson seconded a <br />motion to adopt the agenda for the July 12, 1999, regular City Council. The <br />motion carried unanimously (5-0). <br /> <br />APPROVAL OF MINUTES <br /> <br />A. June 28, 1999 Regular Council Meeting <br /> <br />Councilmember Larson noted that on page two, last paragraph before the motion, Mr. Post had <br />been explaining why the bond issue for Presbyterian Homes had included amounts of money that <br />would be spent in other cities. Mr. Post had indicated that Presbyterian Homes had approached <br />other cities to see if there would be any conflict with other bond issuance's planned for this year, <br />and that the upper limit of bank qualified debt was $10,000,000 each year, which the bond <br />proposal would have exceeded. Mr. Post had further explained that since Arden Hills was not <br />planning any debt issuance debt this year, the City was the logical candidate to issue the bonds <br />through <br /> <br />Councilmember Larson noted that the bond issuance was for $30,000,000 and it would seem that <br />this would have exceeded the debt-qualified limit. He assumed that what Mr. Post had been <br />saying was that some of those cities were planning to issue bonds for this year. Mr. Post stated <br />that those cities had either already issued, or were planning to issue bonds this year. These cities <br />wanted to retain their ability to have those debts remain bank qualified. Since the Presbyterian <br />Homes issuance was so large, they knew it would not be bank qualified. Councilmember Larson <br />asked if this would also be true for the City of Arden Hills. Mr. Post explained that if the City <br />were to issue any debt this year, it would not be bank qualified. Councilmember Malone added <br />