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ARDEN HILLS CITY COUNCIL—May 10, 2010 4 <br /> 6.A. Host Approval for $30,000,000 City of Spring Park Conduit Debt for Presbyterian Homes <br /> (continued) <br /> Revenue Bonds (Presbyterian Homes of Arden Hills, Inc.), Series 1999B. The City's Bond <br /> Council has reviewed this request. After the public hearing, the Council is requested to approve a <br /> resolution giving host approval and the execution of a Joint Powers Agreement and an <br /> Assignment and Assumption of Regulatory Agreement. The City's Bond Counsel's opinion is <br /> that these transactions do not create any legal liability on the part of the City of Arden Hills for <br /> these bonds. <br /> Mayor Harpstead opened the public hearing at 7:16 p.m. <br /> Mayor Harpstead closed the public hearing at 7:17 p.m. <br /> MOTION: Councilmember Holden moved and Mayor Harpstead seconded a motion to <br /> Adopt Resolution 2010-026, Giving Host Approval to the Issuance of <br /> $30,000,000 Multifamily Housing and Health Care Revenue Notes under <br /> Minnesota Statutes, Chapter 462c to the City of Spring Park and Authorizing <br /> the Execution of a Joint Powers Agreement and an Assignment and <br /> Assumption of Regulatory Agreement. <br /> Councilmember Holden clarified there would not be any cost to the City for this request. <br /> Finance Director Iverson stated this was correct. This request will refund the conduit debt that <br /> the City had already granted to Presbyterian Homes. <br /> The motion was called to a vote. <br /> The motion carried unanimously(5-0). <br /> 7. NEW BUSINESS <br /> A. Public Works Director Position <br /> Finance Director Iverson stated on April 27, 2010, Public Works Director Greg Hoag submitted <br /> his letter of resignation to the City. His last day of employment with the City of Arden Hills will <br /> be May 11, 2010. The Personnel Committee has not finalized the job description but they have <br /> the advertisement completed. The Council is asked to review this advertisement and suggest any <br /> changes they may have. <br /> Councilmember Holmes asked if the City would be able to advertise for the position without a <br /> completed job description. She asked if the description provided in the advertisement would be <br /> enough. <br /> Finance Director Iverson stated there was enough information to put together an advertisement <br /> p g <br /> for the position and the Personnel Committee will meet again to finalize the job descri tion. <br /> gp <br />