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Regular City Council Meeting Monday, July 19, 2010 Page 4 Nays: None. e. Accept Roseville Fire Relief Association's Request to Defer any Increase Mayor Klausing thanked the Fire Relief Association for their gesture. Councilmember Roe noted that this action would defer any increases until the next two-year period. Councilmember Pust also thanked and recognized the Association for this action; and asked that staff provide a written acknowledgement on behalf of the City Council. Roe moved, Pust seconded, accepted the Roseville Fire Relief Association's rec- ommendation to defer an increase in benefits at this time due to current City budget challenges. Roll Call Ayes: Roe; Pust; and Klausing. Nays: None. 8. Consider Items Removed from Consent a. Approve a Declaration of Intent to Reimburse City Purchases with Bonds Mayor Klausing asked staff to explain in more detail for the benefit of the public. City Manager Malinen noted that with current levy limits, there were multiple constraints put upon the amount of the levy available for City Council approval, with several exceptions for indebtedness, one of which was issuance of equipment bonds without public referendum. Mr. Malinen advised that, while the City Council had not yet determined that such an option would be utilized, due to tim- ing requirements in underwriting and in the bond market, this requested action would preserve the flexibility to use this option if so determined by the City Council later during the budget process. Discussion included the rationale for the City using cash set aside for the fire truck (approximately $500,000) for another use and to borrow funds for purchase of the fire truck, while requiring specific City Council action to do so. Further discussion included the timing for this request prior to the City Council holding a policy discussion on such an option, due to a partial payment coming due within several weeks as the first installment for the fire truck, with any initial partial payments being eligible for this funding as well, with the ability preserved to replenish cash reserves for other capital needs.