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ARDEN HILLS CITY COUNCIL - JULY 12, 1999 2 that, from the City's point of view, the first $10,000,000 ofthe bond would be bank qualified and . the remaining $20,000,000 would not be. Councilmember Larson asked how this debt is affecting the City of Arden Hills. If there is an upper limit of $1 0,000,000 per year and the issuance is for $30,000,000, is all of the $30,000,000 issued in the same year? Mr. Post stated that the issuance would occur within one year. He noted that the upper limit is only for bank qualification, not how much debt the City can issue in one year. Since the City is not planning to issue any debts this year, this bond issuance will not impact the City. With regard to page four, paragraph two, first sentence, Councilmember Malone stated that he recalled Mr. Tolaas making these comments, however, he did not believe that the information was correct. He did not believe that the City staff actually worked with Ramsey County on this design proposal. Mr. Fritsinger stated that staff had been involved in the meetings regarding the frontage road options. . Councilmember Malone stated that the implication with the way this statement was made was that staff agrees with the proposal, which staff did not endorse. Mr. Fritsinger stated that when Mr. Tolaas had presented staff with this proposal, the reaction from staff was that an agreement on the ramp design had already been made and staff would not support the proposal. Additional conversations were held with staff and Ramsey County and some members of the City Council were informed of the proposal. Staff then discussed with Ramsey County, if MnDOT were to require a frontage road, how to design a frontage road which will best work for the City and work in the area. Councilmember Malone stated that he would prefer that this sentence start with "Mr. Tolaas stated that..." otherwise the sentence suggests that staff had supported the frontage road option. With regard to the third sentence of the same paragraph, Councilmember Malone noted that traffic traveling in either direction on US Highway 10 traffic would not be able to access Highway 96, as all accesses would be eliminated with that proposal. Mr. Fritsinger stated that this was correct. Councilmember Malone stated that on page four, paragraph three, the third sentence should state, "This option does put a greater focus on the interchange at Highway 96 and I35W." On page five, fifth paragraph, first sentence, Councilmember Malone stated that he was not sure that this information was correct. Mayor Probst stated that the information was correct because he was referring to Old Highway 10, the frontage road. Councilmember Malone asked Mayor Probst if the rest of paragraph five was correct. Mayor Probst stated that the remaining information in paragraph five was correct. MOTION: Council member Aplikowski moved and Councilmember Larson seconded a motion to approve the meeting minutes of the June 28, 1999 Regular Council Meeting, as amended. The motion carried unanimously (5-0). .