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„was <br /> • financial consultant. Council members Grant and Holden met with the <br /> developers regarding the residential density. It is now at 1700 households; down <br /> from 2100 households. At this time Master Developer Status has not been given. <br /> Ryan Company has bought out Rehbein's interest. Ryan Company would like to <br /> claim the land developer status. Tentative land closing date will be June 30tn <br /> 2008. <br /> The Council has had discussions concerning the displacement of Arden Manor <br /> residents. <br /> Council denied a permit for the electronic bill-board on 1694. <br /> V. FUND BALANCE POLICY DISCUSSION <br /> A. Guest Speaker <br /> Jonathan North, former Vice-President and Co-Manager of the <br /> Midwest office for Moody's Public Finance Group <br /> 49/ Finance Director Iverson gave an introduction on Jonathan, his career history, as <br /> well as an introduction into his presentation. <br /> Presentation concentrated on Jonathan's experience at Moody's Investor <br /> Services. Jonathan discussed how the rating agencies looked at fund balances, <br /> policies, and other factors when assigning credit ratings. He used various <br /> examples from his experience as a rating analyst. <br /> Presentation: <br /> • Know your destination: Examine community needs, long term goals <br /> and map out how to get there. <br /> • Funding options include: pay-as-you-go, grants, loans, bonds, and <br /> TIFs <br /> • A municipal debt is a pledge to repay an obligation; it is a contract <br /> between the issuer and the investor. There are several options as <br /> to what the pledge could be. <br /> • Benefits and drawbacks for borrowing <br /> • • Bonds can be used for development; provides flexibility <br /> City of Arden Hills <br />