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<br />City ofCenterville <br />Council Meetio.g Minutes <br />June 12, 2002 <br /> <br />Council Member Broussard Vickers asked if the City has the ability to go back to the <br />developers to recoup any funds expended to finish the projects. <br /> <br />City Attorney Hoeft indicated that the City could attempt to collect the amounts owed <br />and said he would need to look at the agreements to detemIine what can be done. <br /> <br />Finance Director Paulseth indicated she had not had a chance to review the debt service <br />funds and will do that shortly. She then noted that she suspects some of the debt service <br />funds are in the red due to timing issues with special assessments not getting on the tax <br />rolls quickly enough. <br /> <br />Finance Director Paulseth indicated she had revised the monthly financial report due to <br />an error caused by a computer glitch. <br /> <br />Mayor Swedberg asked what would be done about the previous authorization to purchase <br />f) a server. <br /> <br />Ms. Moore-Sykes indicated she would handle the matter. <br /> <br />Mayor Swedberg indicated the City's interest earnings are woefully inadequate and it <br />would be good to reallocate some funds. <br /> <br />Finance Director Paulseth indicated that authorization for staff to make investments on <br />behalf of the City is on the consent agenda to be approved later in the meeting. <br /> <br />Mayor Swedberg asked what the City needed as cash. <br /> <br />Finance Director Paulseth indicated the City needs cash of 33 to 50%. <br /> <br />Council directed Staff to prepare a resolution for setting up cash reserve interest earnings <br />and cash reserve. <br /> <br />Council recessed at 8:25 p.rn. <br /> <br />Council reconvened at 8:37 p.rn. <br /> <br />Ii. Liquor Ordinance - City of Plymouth <br /> <br />Mayor Swedberg indicated he had been working with the model ordinance from the <br />League of Minnesota Cities and the Plymouth ordinance provided by the City Attorney <br />and it is difficult to go back and forth. He then said it works better to use the model <br />ordinance and then insert the penalty information from the Plymouth ordinance. <br /> <br />Council Member Broussard Vickers asked what Mayor Swedberg did not like about the <br />Plymouth ordinance. <br /> <br />Page 16 of23 <br />