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<br />City Council Minutes - 08/19/02 <br />Page 14 <br /> <br />Council consensus was for Alternate No.2, providing for <br />a six-foot concrete walkway with minor enhancements, <br />with proposed costs and funding as follows: <br /> <br />Proj ect Cost <br />Construction Costs $340,000 <br />Engineering, Legal and Contingencies 5 LOOO <br />Total Pro.iect Cost $391,000 <br /> <br />Proposed Funding <br />Federal Grant $272,000 <br />Ramsey County 28,000 <br />City Pathway Fund 40,000 <br />Ci ty Engineering Budget 5 LOOO <br />Total $391,000 <br /> <br />Kough moved, Maschka seconded approval of the <br />Larpenteur Avenue Pathway project at a cost not to <br />exceed $391,000 for a six-foot (6') concrete pathway, <br />with minor enhancements. <br /> <br />Ayes: <br />Nays: <br /> <br />Roll Call <br />Maschka, Kough and Klausing. <br />None. <br /> <br />D. <br /> <br />Consideration of Issuing Tax-Exempt Bonds for <br />Northwestern College and Setting a Public Hearing <br />for September 23, 2002 <br />Finance Director Miller reviewed the background of this <br />request, providing additional information since the <br />original request was heard at a previous meeting. Mr. <br />Miller advised that Northwestern College was agreeable <br />to stipulate that: <br />1. The proceeds of the bonds will not be used for <br />religious purposes; and <br />2. Should a legal challenge be filed calling into question <br />the legality of the bonds or their tax -exempt status, <br />Northwestern College will acquire new financing and <br />pay off the bonds. <br /> <br />Call Public Hearing <br />Tax-Exempt <br />Bond Issue for <br />Northwestern <br />College <br />