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Minutes of the Arden Hills Regular Council Meeting, 1-28-91 Page 2 . Council was referred to a report fran the Clerk Administrator dated 1-25-91 and a letter fran Attorney Ne:iJneyer dated 1-15-91, regarding the Arden view Drive condemnation case with George Reiling. Attorney Ne:i1l1eyer ellplained the jury award to Reiling and the rationale utilized by the jury to arrive at the award. Ne:i1l1eyer stated his opinion that the Judge would not be inclined to overturn the award and suggested no appeal be filed. He further requested COlU1Cil grant hi1n the authority to file a counter suit in the event Mr. Reiling's attorney files an appeal. UPDATE; REILING <DNDEMNATION, ARDEN VIEW DRIVE Ne:i1l1eyer ellplained the "stipulation of Dismissal with Prejudice" filed by Reiling in conjunction with the Arden view Drive assessment appeal. Malone moved, seconded by Growe, to direct Attorney Ne:i1l1eyer, on behalf of the city, to accept the ruling of the jury in the Reiling Arden view Drive Condemnation Case, and to authorize the filing of a countersuit by Attorney Ne:i1l1eyer in the event Mr. Reiling's Attorney files an appeal. Motion =ied unan:in'Dusly. (4-0) '!here was Council discussion regarding which funds will be utilized for payment of the award to Mr. Reiling. POOP'D INVES'IMENT POLICY,TREASURER Council was referred to the Investmant Policy, Draft II, presented by Treasurer Frank Green. . Treasurer Green ellplained the document was prepared and reviewed by the Finance Committee, as directed by Council, and outlines formal policy for investment of city funds. He advised the document is a standard format utilized nationally and has been amended to reflect the specific policies to be used by the City. Green stated the Finance Committee reviewed both drafts of the policy and the document suhnitted this evening indicates corrections fran the first draft. Green stated the Finance Committee unanimously recommends council approval and ilnplementation of the policy presented this evening. Counciln1ernber Malone thanked Treasurer Green for an excellent document and stated the policy will be very beneficial to the city. Malone suggested the d=ument be tabled at this t:i1l1e to allow review by the new a=unting staff person and that the City Attorney review the document under the section delegating authority. Malone recarmnended some minor changes may be necessary in this section to clearly indicate the Council shall first review procedures and then such information may be forwarded to the Finance Committee for review. . Treasurer Green advised the intent is to retain final Council approval on all items and the Finance Committee involvement is to provide assistance and expertise. He stated the goal of the Committee is to have the d=ument approved in January 1991 and preferred not to hold the document. Green questioned the need for the new a=unting person to review the document and suggested any specific language changes may be made this evening. He also indicated the document is not "cast in stone" and changes may be ilnplemented at any t:i1l1e Council deems necessary .