11-22-2010 Council Packet - Laserfiche WebLink

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MINUTES OF THE ORONO CITY COUNCIL MEETING Monday, November 8, 2010 7:00 o’clock p.m. ______________________________________________________________________________________ Page 3 of 13 (LMCD REPORT, Continued) The LMCD is also expanding the solar light program, which lights all the navigation buoys on the lake. The program has been highly successful, and the LMCD is in the process of increasing the number of buoy lights on the lake. Steps are also being taken to improve public awareness of the LMCD through newsletters, LMCD’s website, and broadcasting of LMCD Board of Directors meetings. 2010 goals include reducing the levels of existing AISs, preventing the introduction of new AISs, ensuring that LMCD ordinances and policies are relevant and enforceable, maintaining a strong financial foundation, promoting public access to Lake Minnetonka, and ensuring that Lake Minnetonka is safe and protected. McDermott reported the dam has been closed a little earlier this year due to the water level. SALE OF BONDS 4. PUBLIC HEARING, 7:00 P.M. – APPROVE CAPITAL IMPROVEMENT PLAN FOR BUILDINGS AND CONFIRM INTENT TO ISSUE BONDS – RESOLUTION NO. 5986 Olson stated action is required by the City Council to refinance the bonds that were used to finance the Navarre Fire Station. These bonds were originally issued by the Orono Housing and Redevelopment Authority. Because the first station is currently owed by the HRA, the City will need to exercise its purchase option under its lease agreement with the HRA. Mayor White opened the public hearing at 7:18 p.m. There were no public comments regarding this item. Mayor White closed the public hearing at 7:20 p.m. Franchot asked whether the $35,000 is the total amount of anticipated savings. Olson indicated it is the total amount for the four years for this bond. Bremer moved, Murphy seconded, to adopt RESOLUTION NO. 5986, a Resolution Approving Capital Improvement Plan for Buildings and Confirming Intent to Issue Bonds. VOTE: Ayes 5, Nays 0. 5. PUBLIC HEARING, 7:05 P.M., PROVIDE FOR SALE OF BONDS (STREET RECONSTRUCTION PLAN) – RESOLUTION NO. 5987 Olson noted the reconstruction of Orono Orchard Road is included in the 5-year street reconstruction plan that was approved by the City Council in January 2009. As part of the street reconstruction plan, funding for the project is identified as being through the issuance of $1,500,000 in bonds. Mayor White opened the public hearing at 7:21 p.m. There were no public comments regarding this item. Item #02 - CC Agenda - 11/22/2010 Approval of Council Minutes 11/08/2010 [Page 3 of 13]