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<br />City of CenterviIle <br />Council Meeting Minutes <br />April 23, 2003 <br /> <br />-~ <br /> <br />Ms. Paulseth explained that the bond that was paid off in February along with the City <br />Ha11lease left a deficit remaining. She then said that the explanation is likely the same <br />for the Pheasant Marsh project as a lot of the assessments were prepaid or paid up front <br />and assessed at 8% interest and the City did not earn that kind of interest. <br /> <br />Council Member Broussard Vickers commented that the bonds were too long and interest <br />rates dropped. City Attorney Hoeft clarified that the City did nothing wrong with issuing <br />these bonds and is under certain restrictions as to how they are issued. <br /> <br />Mayor Sweeney asked for further information on the downtown redevelopment project <br />fund. <br /> <br />Ms. Paulseth explained that there had been costs from the Metropolitan Council leaving a <br />deficit in the fund. She then said that it is not appropriate accounting procedure to carry <br />deficit funds and the funds need to be closed out. <br /> <br />Motion by Council Member Broussard Vickers.. seconded by Council Member <br />Capra to approve Resolution #03-025 based on the recommendation of the Finance <br />Director. All in favor. Motion carried unanimously. <br /> <br />6. Resolution #03-026 - HIP AA Amendment for Cafeteria Plan <br /> <br />Motion by Council Member Broussard Vickers.. seconded by Council Member <br />Capra to approve Resolution #03-026 as presented. All in favor. Motion carried <br />unanimously. <br /> <br />Council Member Capra commented that the Resolution was backdated and asked if that <br />was okay. City Attorney Hoeft indicated that was the effective date. <br /> <br />7. Resolution #03-027 - Peltier Preserve Al>proval of Plans.. Specs. And <br />Authorization to Advertise for Bids <br /> <br />Council Member Capra indicated that the plan showed sidewalks on Centerville road. <br />Mr. Peterson indicated there is an existing sidewalk in Lakeland Hills and since the <br />watermain is being put in on that side it was felt that the City should extend that sidewalk <br />at this time down to the comer of Peltier. <br /> <br />Council Member Capra asked if the ~idewalks were added into the assessments for the <br />water. Mr. Peterson indicated that the sidewalk was not included in the report. He then <br />said that the costs could be added to the assessments or it could be a City cost. <br /> <br />Council Member Broussard Vickers asked what the price would be. Mr. Peterson <br />indicated that the cost would be approximately $10 per foot plus some costs for saw <br />cutting of driveways. <br /> <br />Page 6 of II <br />