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<br />. <br /> <br />. <br /> <br />. <br /> <br />ARDEN HILLS CITY COUNCIL - MAY 12. 1997 <br /> <br />7 <br /> <br />F. <br /> <br />Resolution #97-25, Apportionment of Assessments Relating to Improvement W-78-5 <br />(No. 1783) <br /> <br />G. Resolution #97-26, Apportionment of Assessments Relating to Improvement St-81-2 <br />(No. 5163) <br /> <br />Mr. Fritsinger stated Council was being requested to consider adopting two resolutions that <br />pertain to the apportionment of assessments resulting from a property division by Ramsey <br />County Records and Revenue. The remaining 35.7 Control Data parcel had been subsequently <br />platted into three parcels. <br /> <br />Resolution #97-25 apportions assessments pertaining to Improvement "IMP W-78-5" (DIP No. <br />1783) between the smaller remaining 23.8 acre Control Data property and a 10.5 acre CSM <br />parcel. Assessments were not apportioned to the new. 9 acre parcel given to the City of Arden <br />Hills for an expanded pedestrian and bicycle easement in partial satisfaction of park dedication <br />requirements. Council may recall earlier action on November 27, 1995, wherein the original <br />41.9 acre Control Data parcel was replatted to accommodate the two new Dynamark building <br />parcels. Resolution #97-26 apportions assessments pertaining to Improvement "IMP ST81-2" <br />(DIP No. 5163) between the remaining 23.8 acre Control Data property and the 10.5 acre CSM <br />property. <br /> <br />MOTION: <br /> <br />Malone moved and Keirn seconded a motion to adopt Resolution #97-25, <br />apportioning assessments pertaining to Improvement "IMP W-78-5" (DIP No. <br />1783; and Resolution #97-26, apportioning assessments pertaining to <br />Improvement "IMP ST8I-2 (DIP No. 5163). <br /> <br />Mayor Probst inquired if this action would be required by Council in future years. Mr. Fritsinger <br />replied this action was only needed because this property had been sold, and would not need to <br />be repeated. <br /> <br />The motion carried unanimously (5-0). <br /> <br />H. Authorization to Obtain a Current City Bond Rating <br /> <br />Mr. Fritsinger stated the City of Arden Hills had not been a participant in the bond market since <br />1985, and currently had no bond debt. With this lack ofbond issuance activity, the City had not <br />maintained, nor does it currently have, a bond rating. With the upcoming improvements to the <br />Gateway Business District, and the probability ofissuing bonds, obtaining a current bond rating <br />would be a prudent first step. A memo from the City's independent financial advisor, Ehlers & <br />Associates, Inc., commented on the relationship between credit ratings and the bond issuance <br />process. <br /> <br />Mr. Fritsinger reported an unbudgeted $3,000-$7,500 expenditure in the Development! <br />