02-12-1990 Council Packet - Laserfiche WebLink

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Plashing: remove and replace.Ventilation: provide.Entry Step: provide step with maximum 8" rise»e repairs are not completed, or unless an answer is filed /enty (20) days from the date of service of this order, the LI move the District Court for summary enforcement of thisanswer is filed that contests the hazardous building action, Br shall be tried and decided by the District Court. If the sustained by the Court, the Court shall fix a time after e building shall be destroyed or repaired as set forth in i Statutes Section 463.20.:he Court's Judgment is not complied with in the id, the City may make the ordered repairs, raze or remove the s condition or building, or acquire the building and real n which the building or hazardous condition is located by domain. The necessary costs of such repairs, razing or including but not limited to attorney fees, witness fees and ees, shall be a lien against the real estate on which the 1 condition exists and will be levied against the property as 1 in Minnesota Statutes Section 463.21 and 463.22. the City Council of the City of Orono hereby authorizes and :he Mayor, City Clerk, City Attorney, and other officers and s of the City to take such action, prepare, sign and serve srs as are necessary to comply with this order and to assess : thereof against the real estate described above for m along with taxes. Adopted by the City Council of the City of Orono, I, this 12th day of February, 1990. APPROVED: James R. Grabek, Mayor lin. City Clerk Page 8 of 8 2190.3Mark E. Bernhardson, City AdministratorTom Kuehn, Finance Director •%February 6, 1990 SUBJECT: 1989 Annual Investment Report mt' ifiiif:.'!; 12Attachments: A. Investment Portfolio at 12/31/89B. Earned Interest vs. Revenue Budget 1989ISSUE - To comply with the annual investment reporting requirements set forth in the City's investment policy.DISCUSSION - The unaudited statement of earned interest for the year ended December 31, 1989 shows that the City earned $510,944for all funds compared to budgeted amounts of $389,130 for a favorable variance of $121,814. The overage is made up of approximately $62,000 of unbudgeted interest revenues from the emergency contingency account in the PIR Fund and the transfer of General Fund fund balance to the Building Outlay Fund; with the remaining $59,800 of overage coming from the 13 budgeted funds in various amounts. The average yield for the year was 8.78% compared to 8.24* for 1988. The investment portfolio, at cost, on December 31, 1989 was $7,915,275 compared to $5,514,024 on December 31, 1988. The increase was primarily due to unspent bond proceeds from the 1989 Sewer and Water Revenue Bond iss’.e sold in September 1989. The preliminary projected interest income for 1990 is $533,650 for all funds based on a general decline in short term rates and the expenditure of the majority of the remaining 1989 bond proceeds for sewer and water improvements in the Highway 12 area west of Long Lake. RECOMMENDATION - It is recommended that Council accept the information as presented. PROPOSED MOTION - Moved by _, seconded by _, to accept the 1989 Annual Investment Report as presented. Ayes _, Nays _. TO: Mayor and City Council Mark E. Bernhardson, City Administrate^ Forwarded recommending approval.