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ARDEN HILLS CITY COUNCIL—September 14, 2009 11 <br /> 7B. Motion to Adopt Resolution 2009-024 and Motion to Adopt Resolution 2009-025(continued) <br /> Mayor Harpstead stated that after surveying other cities an increase of 3.7% was <br /> in the middle. He stated that he would support this levy at this time. <br /> The motion carried unanimously (5-0). <br /> MOTION: Mayor Harpstead moved and Councilmember McClung seconded <br /> a motion to Approve Resolution 2009-025: A resolution to Adopt <br /> Truth-In-Taxation Public Hearing Date of December 14, 2009 at <br /> 7;00 p.m. for Proposed Taxes Payable in 2010. <br /> Councilmember Grant asked if this would be during the regular City Council <br /> meeting. <br /> Councilmember Holmes recommended having the meeting at 6:00 p.m. in order to <br /> allow enough time for residents to discuss this. <br /> MOTION: Councilmember Holmes moved and Councilmember Holden <br /> seconded a motion to amend the meeting time to 6:00 p.m. <br /> Councilmember Grant stated that there was a clerical error on the address and it <br /> should read 1245 West Highway 96. <br /> The motion to amend the time of the meeting to 6:00 p.m. carried <br /> unanimously (5-0) <br /> The amended motion carried unanimously (5-0). <br /> C. Motion to Approve the Arden Hills Private Activity Revenue Bond <br /> Financing Procedures Effective September 14, 2009 <br /> Motion to Approve the Arden Hills Post-Issuance Debt <br /> Compliance Policy Effective September 14, 2009 <br /> Finance Director Iverson stated the City has been approached on various <br /> occasions to issue Conduit Debt for organizations such as Presbyterian Homes. It is <br /> anticipated that Northwestern College is also going to approach the City on this <br /> subject. The Financial Planning and Analysis Committee have developed a <br /> "Private Activity Revenue Bond Financing" procedure, which includes an <br /> application process and fees. City Bond Council has reviewed these procedures and <br />