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MINUTES <br /> . -AR 1' HILLS <br /> FINANCIAL PLANNING&ANALYSIS COMMITTEE <br /> Tuesday,August 9,2011 <br /> 6:00 P.M. <br /> Council Chambers, Arden Hills City Hall <br /> CALL MEETING TO ORDER AND ROLL CALL <br /> The meeting was called to order by Jim Ostlund at 6:00 pm. <br /> MEMBERS PRESENT:Jim Ostlund,Arlene Mitchell,John Braun,Jeff Johnson <br /> MEMBERS NOT PRESENT: David Grant;Council Liaison, Katy Peters <br /> OTHERS PRESENT: Sue Iverson,Kyle Howard, David Radziej <br /> Call to Order <br /> 1. APPROVAL OF THE AGENDA <br /> Motioned:Jeff Johnson <br /> Seconded: Arlene Mitchell <br /> 2. APPROVAL OF April 12,2011, MINUTES <br /> Approved as amended <br /> Motioned: Arlene Mitchell <br /> Seconded: Jeff Johnson <br /> • 3. UNFINISHED AND NEW BUSINESS <br /> A. Introduction of David Radziej <br /> David Radziej was introduced to the Committee as a possible candidate to fill the vacant seat. <br /> B. Review of the City's Conduit Debt Policy <br /> The committee reviewed the City's current Conduit Debt policy. It was determined that no <br /> change to the policy was needed and voted to accept the current policy as it stands. <br /> The reason for no change was because the temporary raise in the City's bank qualification to <br /> $30,000,000 per year expired and has been reduced to the former amount of$10,000,000 per <br /> year. It was also determined that it is highly unlikely for the bank qualification to increase in <br /> the near future. Since the current policy was written to reflect the amount of$10,000,000 the <br /> calculation of 1/8t of 1%of the outstanding balance was still an acceptable amount. <br /> 4. REPORTS <br /> A. Reports from the City Council <br /> There were no Council updates. <br /> 5. ADJOURNMENT <br /> Motioned: Jim Ostlund at 6:55 pm. <br /> Seconded: Arlene Mitchell <br /> Jim Ostlund,Chair Susan K. Iverson, Finance Director <br /> • City of Arden Hills <br /> 1245 West Highway 96•Arden Hills Minnesota 55112 <br /> Phone 65(.792.7800-Fax 651.634.5137 <br /> www.ci.arden-hills.mn.us <br />