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Regular City Council Meeting <br />Monday, July 20, 2009 <br />Page 8 <br />cient objections were forthcoming, that would derail the project; and assured <br />Councilmembers that it was prudent to move forward. Mr. Miller advised that <br />any prepayments yet received would be deposited into the debt service fund for <br />future debt service payments. <br />Klausing moved, Johnson seconded, adoption of Resolution No. 10737 entitled, <br />"Resolution Accepting Proposal on the Competitive Negotiated Sale of <br />$1,105,000 General Obligation Refunding Improvement Bonds, Series 2009B, <br />Providing for their Issuance and Pledging for the Security Thereof Special As- <br />sessments and Levying a Tax for the Payment Thereof." <br />Roll Call <br />Ayes: Pust; Roe; Ihlan; Johnson; and Klausing. <br />Nays: None. <br />c. Award the Sale of the 2009 Housing Revenue Bonds for Westwood Village I <br />Roe moved, Pust seconded, adoption of Resolution No. 10738 entitled, "Resolu- <br />tion Accepting Proposal on the Competitive Negotiated Sale of $1,155,000 Tax- <br />able General Obligation Housing Improvement Bonds, Series 2009A, and Pledg- <br />ing for the Security Thereof Tax Increments. <br />Councilmember Ihlan advised that she would be voting against the motion for <br />several policy reasons; notably that the bonds would be for repairs to private <br />property without a City policy in place of analysis to address future requests for <br />similar funding, setting a bad precedent; and issuing the bonds requires prepay- <br />ment now or, for those unable to prepay, required fees for a term of 15 years, cre- <br />ating potential financial hardship issues, difficulty in selling properties, or poten- <br />tial defaults of those owners in the future. <br />Councilmember Roe noted that the original request from the homeowner's asso- <br />ciation at this complex was based on their inability to make improvements by go- <br />ing to the private marketplace, thus their request for an HIA in accordance with <br />State provisions. <br />Roll Call <br />Ayes: Pust; Roe; Johnson; and Klausing. <br />Nays: Ihlan. <br />Motion carried. <br />13. Business Items - Presentations/Discussions <br />a. Budgeting for Outcomes Update <br />Finance Director Chris Miller briefly summarized previous City Council action <br />authorizing the hiring of Springsted Financial Advisors in calculating true costs of <br />the City's property tax-supported programs as a precursor to a budget priority <br />