2024 03-19 CC Minutes - Laserfiche WebLink

Home

City of Gem Lake City Council Meeting Minutes March 19, 2024 3 | Page Included with the memo was a redlined draft of the ordinance, as well as a ‘clean’ copy of the ordinance for the Council to review. A summary of the changes includes updated definitions, text revisions, section reformatting, and a section regarding ‘severability and savings was added, as is common/standard practice for ordinances. The Planning Commission recommended that the City Council approve the revised ordinance at the March 19, 2024, meeting. Councilmember Lindner introduced a motion to approve the updated/revised version of Ordinance No. 45, seconded by Councilmember Johnson. Voice vote taken, all voted yes, motion carried. Gem Lake Snow & Ice Policy Final At the January 16, 2024, City Council meeting a temporary snow and ice policy was approved while the city worked to create one more tailored to Gem Lake. A final snow and ice policy that references White Bear Township’s was presented to the Council for approval since White Bear Township manages the city’s snow removal for all city-maintained roads. Councilmember Lindner introduced a motion to adopt the snow and ice policy being presented, seconded by Councilmember Amlee. Voice vote taken, all voted yes, motion carried. This would replace the temporary policy adopted in January. New Business White Bear Montessori Conduit Debt Proposal City Treasurer Tom Kelly explained conduit debt as the IRS allows certain entities to issue debt in the city’s name with the city’s tax exemption status. This debt ends up going against the annual max debt amount the city is allowed to have per year. The city is not liable for the debt, but the business gets a better rate by having it issued in the city’s name. Premier Banks White Bear Lake President Doug Schultze shared that White Bear Montessori School is requesting a $3,000,000 Bank Qualified Education Revenue Note through the City of Gem Lake. This will be conduit financing for the City of Gem Lake, utilizing the City’s bonding capacity. At closing, Premier Bank will purchase the Note, thus assuming all financial and collateral of the transaction. White Bear Montessori School wants to construct a 5,350 sf addition to the existing 16,625 sf Montessori school facility located at 1201 East County Road E in Gem Lake. The new addition will include two (2) large classrooms, two (2) new restrooms, a home economics space, and a music room. The project will also include a hallway connecting to the existing space, plus additional parking and patio space. The hallway will include reinforced walls, ceiling, etc. so it can be used as a tornado shelter, per code. A small portion of the funds will be used for exterior siding and several replacement windows in the existing facility. The debt will have a 6.20% fixed interest rate for five (5) years, repricing at the end of each subsequent five- year (5) period at a fixed rate equal to the then Wall Street Journal Prime Rate minus 2.0%, with a minimum rate of 4.0% for the life of the loan. Mr. Schultze also requested that they have the authority to appoint Bond Council for the proposed issue of bonds of the City of Gem Lake. The Council didn’t see any issue with that. The lawyer handling this debt proposal will reach out with a document requesting they be granted the authority to serve as Bond Counsel. The final step will be to schedule a public hearing for a future meeting once all documents have been submitted for review. Councilmember Lindner introduced a motion to schedule a public hearing, seconded by Councilmember Johnson. Voice vote taken, all voted yes, motion carried. Goose Lake Speed Limit Signs Quote The two (2) speed limit signs installed on Goose Lake Road about ten (10) years ago are unpermitted according to Ramsey County. The sign itself is ok, but the posts are not permitted. To salvage the existing speed signs City Engineer SEH requested a quote to have both replaced with a County approved option. Forest Lake Contracting does a fair amount of work locally and is also the County’s main signage contractor per SEH. A quote in the amount of $6,500.00 was received and presented to the council for consideration.