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City Council Minutes —1 1/26/O1 <br />Copy Page 7 <br />F. Reports And Recommendations <br />F-1 Burrell summarized the proposed defeasance program. Kysylyczyn <br />asked about the effect of a short continuance to review the amended <br />RCA, Goedeke asked about the State's concerns in defeasing TIF <br />bonds. <br />F-2 <br />Maschka moved, Goedeke seconded, to adopt a resolution <br />approving the defeasance program and authorizing the Mayor and <br />City Manager to sign the final documents. Roll Call, Ayes: <br />Maschka, Mastel, Goedeke, Klausing and Kysylyczyn. Nays: None. <br />Maschka moved, Goedeke seconded, to approve the escrow <br />agreement to be entered into with Wells Fargo Banks. Roll Call, <br />Ayes: Maschka, Mastel, Goedeke, Klausing and Kysylyczyn. Nays: <br />None. <br />Maschka moved, Goedeke seconded, to approve the notice of <br />Deposit to the escrow agent. Roll Call, Ayes: Maschka, Mastel, <br />Goedeke, Klausing and Kysylyczyn. Nays: None. <br />Maschka moved, Goedeke seconded to adopt a resolution providing <br />for an interfund Loan to Refund the Centre Pointe Project TIF <br />Bonds. Roll Call, Ayes: Maschka, Mastel, Goedeke, Klausing and <br />Kysylyczyn. Nays: None. <br />Burrell summarized the requested action and the position of the <br />State of Minnesota Department of Revenue. <br />Goedeke moved, Maschka seconded, to approve a resolution <br />providing for any future tax increment debt coverage shortfall <br />application to the State of Minnesota, would reflect an adjustment <br />for the "missed opportunity" of pooling tax increments from <br />decertified districts and parcels. Roll Ca11, Ayes: Maschka, Mastel, <br />Goedeke, Klausing and Kysylyczyn. Nays: None. <br />F-3 Burrell summarized the proposed utility rate adjustments. <br />Maschka moved, Mastel seconded, to adopt a resolution establishing <br />the changes in water, sanitary sewer and recycling rates for fiscal <br />year 2002. Roll Ca11, Ayes: Maschka, Mastel, Goedeke, Klausing and <br />Kysylyczyn. Nays: None. <br />Resolution 9956 <br />Resolution 9957 <br />Defeasance & Call of <br />General Obligation <br />Tax Increment <br />Refunding Bonds <br />Resolution 9958 <br />Agreeing to Reflect an <br />Adjustment in any <br />Future Tax Increment <br />Shortfall Grant <br />Applications <br />Resolution 9959 <br />Establishing <br />2002 Utility Rates <br />