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