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<br />Regular City Council Minutes -12/16/02 <br />Page 5 <br /> <br />keeping options open by paying a premium to issue a 15- <br />year bond, yet allow for a 10-year call. <br /> <br />Discussion included the preferences of Councilmembers <br />for a fifteen (15) year or ten (10) year issue; the existing <br />City debt reductions through Tax Increment Financing <br />(TIF) districts being closed and increased tax capacity; <br />whether or not an economic recovery would be <br />forthcoming; pending state legislation and funding to <br />cities; annual household impact to taxpayers depending on <br />the term of the bonds; and potential of future council's to <br />redirect any reserve funds from the Bond Reserve Fund. <br /> <br />Maschka moved, Kough seconded, authorizing staff to <br />initiate preparations for a fifteen (15) year bond issue, with <br />a ten (10) year call provision. <br /> <br />Roll Call <br />Ayes: Klausing, Kough, Schroeder, Maschka and <br />Kysylyczyn. <br />Nays: None. <br /> <br />Recess Recess <br />Mayor Kysylyczyn recessed the meeting at 6:50 p.m. and <br />reconvened the meeting at 7: 12 p.m. <br /> <br />IV. <br /> <br />Communication <br /> <br />7:00 p.m. <br />Communication <br /> <br />Councilmember Kough provided staff with information <br />regarding available federal funding for terrorism training and <br />requested staff to prepare to submit an application on behalf of <br />the City of Roseville. <br /> <br />Mayor Kysylyczyn read a newspaper article regarding the <br />opening of the Wildlife Rehabilitation Center and encouraged <br />residents to volunteer once they are ready to receive volunteers. <br /> <br />Mayor Kysylyczyn advised of his receipt of a letter from Ellen <br />Waters, Senior Vice President of Economic Development with <br />the St. Paul Area Chamber of Commerce, in support of the <br />