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Regular City Council Meeting — DRAFT Minutes Monday, Apri123,2007 Page 35 1 Councilmember Roe suggested that this may not be the type of analy- � sis staff was asked to perform, and suggested that it may be more ap- 3 propriate, and included as a requirement for development, that the de- � veloper bear the cost of such analysis, similar to traffic analyses and :� other studies during the process. Councilmember Roe suggested that �� this language be incorporated into a policy for capital improvement � projects or the process for bringing forward development or redevel- � opment projects in Roseville. �� 1 I� ll 1� 1:3 1� 1� 1 �} l� Debt Policv Finance Director Miller reviewed proposed language revisions. Discussion ensued regarding the City's existing bond rating: AA 1 (Moody's) and AA (Standaxd and Poor's), within the top six percent for all Minnesota municipalities; with Councilmembers concurring that they wanted to, at a minimum, maintain that rating. I� Further discussion included how to achieve a higher rating (three 1�? years of steady and regular improvements in the City's overall fi- �� nances and requesting a review from the rating agencies); and benefits � I or advantages in seeking a higher rating, or whether the cost of �? achieving a higher rating exceeded the speculative benefit of dimin- �:� ishing returns; with potential for residual impacts on Roseville resi- �4 dents. �;� �� F} � � �� �� 3� �i 3� Councilmember Roe questioned differences in "long-term" and "��ao�t-�e�" debt as noted on page 6, line 194. After some discus- sion, it was Council consensus to delete "long-term" from line 194, so the statement read: "The City shall not use debt for current opera- tions." Councilmember Ihlan opined her support for amended language. L� � :�4 Revenue Policv :� � Finance Director Miller reviewed comments regarding funding flow- 3�a ing to programs and services based on the City's goals, objectives, ;�� and priorities, rather than by a pre-determined formula. � �3