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Regular City Council Meeting Monday, March 12, 2007 Page 11 Mr. Brokke noted that the total State bond funds were $500,000, with $40,000 reserved for architectural/engineering fees, leaving $460,000; with $89,000 allocated from the City Building Replacement Fund. Mayor Klausing sought clarification on how use of these City Funds would impact the fund itself and future needs for City facilities. Finance Director Miller advised that staff had anticipated the need to draw from these funds for this project; and noted that there was currently ap- proximately $800,000 in funds at this time, with anticipated major refrigera- tion project funds required in the near future, in addition to any additional facility improvements, none of which were anticipated at this time or within the next five years, with the exception of the refrigeration project. Further discussion included the anticipated need to replenish the fund over the next 10-20 years; and how the only funding source was through annual interest earnings at this time. Further discussion included how priorities were established for use of these funds, with staff advising that there was no established methodology at all, with staff discussing some priorities and needs. It was Council consensus, and Mayor Klausing directed staff to include dis- cussion of this Building Replacement Fund as part of the upcoming budget- ing process, specifically as part of the structural budget requirements. Mr. Brokke noted that staff was in the process of seeking Requests for Pro- posals (RFP's) for a geothermal study for the Skating Center. Further discussion included the projected revenue sources to be realized through updating and expanding the restroom facilities, specifically as it re- lated to wedding and banquet rentals. Mr. Brokke noted that the 2006 season had been an exceptional year for the facility; recognized staff for their work; and expressed staff's desire to make the facility become more effective and well-managed. Roe moved, Pust seconded, authorizing the acceptance of the base bid (south entry addition/remodel) in the amount of $403,000; authorizing the accep-