04-08-2002 Council Minutes - Laserfiche WebLink

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ORONO CITY COUNCIL MEETING MONDAY, APRIL 8, 2002 • 10. Lake Minnetonka Communications Commission Appointment Nygard stated he favored appointing Bob Albertson. White stated he was concerned by comments that Mr. Albertson might not have accurately represented himself. Sansevere stated that he read Mr. Albertson's news clippings and they were from reputable sources. Also, Mr. Albertson is enthusiastic and would look out for the City's interests. Flint stated he supported Mr. Albertson. Nygard moved, and Sansevere seconded, to appoint Bob Albertson to fill the vacant seat on the Lake Minnetonka Communications Commission for a three -year term expiring on March 31, 2005. Vote: Ayes 4, Nays 1 (White). *11. Pay Requests —Long Lake Fire Station Flint moved, and Sansevere seconded, to approve requests for payment in the amount of $19.90 to the Laker Pioneer, $14,727.42 to BKV, and $2,157.75 to SEH (payment of the SEH invoice to be funded 50% from the Joint Fire Station Fund and 50% from the Orono General Fund), and to amend the General Fund budget to reflect the SEH expenditure. Vote: Ayes 5, Nays 0. 0 12. Park Commission Projects and Funding 0 Moorse stated that several Park Commission projects were recently discussed, as well as the need to provide a higher level of funding. The three main projects discussed were the Hackberry Park play equipment replacement, layout of a potential satellite fire station and ice rink on the Larson/Sohns property, and a survey of the property corners of one -third of the City's lake access lanes. Moorse stated that the Community Investment Fund was one possible source for the Parks projects. The fund is to be an endowment -type fund with the principal amount preserved and increased, and 90% of the interest earned to be available for priority projects that do not have alternative funding sources. Moorse stated that the Council had so far used the fund as the source of loans to be repaid with interest. The combined interest earned on the fund balance and on the outstanding loans is approximately $130,000, but the interest is committed to the payment of the debt service on the city facilities HRA bonds through 2007. At that time, there would be a substantial amount of interest earnings available for special projects, including park projects. Staff recommended that the Council take a conservative approach to the use of the Community Investment Fund. Flint stated he felt the submitted Parks projects were worthy, and he felt it was important to note that it would be a loan that will be repaid. F