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i <br /> OROTQO COUDICIL r1EETING HELD APRIL 12, 1976 Page 13 <br /> � Dick Benson, City Adrlinistrator, stated that in KENDALL ELLIS PP.OPERTY <br /> 19G3, the Village of Orono purchased a4 acres from <br /> ythe Ellis estate to build a sewer treatment planto <br /> [7ith this purchase, we acquired a piece of grbund <br /> approxiraately 30° X 300' , which cuts into a <br /> natural rectangular shaped lot that Piro Kendall <br /> Ellis owns and resides at today. <br /> i <br /> i�Ire Ellis has requested of the City of Orono an <br /> • op�ortunity to buy back this 80 ' X 3a0 ° piece to <br /> complete his natural rectangular loto <br /> � He would, of course, have to also absorb the cost <br /> of an appraiser and surveyor and any other costs <br /> that might occur. This purchase wpuld not hinder <br /> the City as far as its existing property is concerned <br /> � and I do recommend tae p�oCeedp with Council approval. <br /> , The City Council Yequested staff to inform Pdr. <br /> Ellis that the City will consi+der his rec�uest <br /> when he has submitted a complete survey of the <br /> S property and its appraised valuee <br /> Dick Benson, City Administrator, informed the �'AGERNESS POINT PROPERTY <br /> City Council that the Orono Pa�`k Commission has <br /> reviewed the property affered by P4r. IIill Swe�n <br /> located at Fagerne5s Point Road. The P�rk <br /> Commission does not find any beneficial use for <br /> this particular piece of land and does not <br /> recommend City ownership at this time, <br /> i�Iayor Searles requestec� staff to send a lette� <br /> to T�iro Bill Sween thanking his for his offer. <br /> � Paurus moved, Butler se�Onded, to approve the POLICE RESERVE AGREEI�7EIQT <br /> Orono Pblice Rese�'ve Agreement and Appointment, <br /> IZotion, Ayes (4) - rlays (0) , <br /> � The Tax Delinquent Property item was tabled until TAX DELINQUENT PROPERTY <br /> the meeting of April 26, 1976. <br /> i <br /> Dick Benson, City Administrator, informed the City BOND REFUND <br /> Council that Ehlers & Associates, Ince and Spring- <br /> field Incorporated, municipal consultants, have <br /> been reviewing Orono's improvement bond debt status, <br /> 'i�he going interest rate at the time of the sale and <br /> the current bond market condition to aetermine what <br /> savings would be generatea through an advance <br /> �refunding ►aond sale, or in other words, to reduce <br /> the City's debt throughout the life of the bonds. <br /> At this time, the two municipal financial consultants <br /> have compiled information for the Cauncil's review. <br /> I will �iave the subject entered on the April 26, 1976 <br /> agenda for Council's decisione I'urther recommendations <br /> will be submitted at the April 26, 197G meetinge <br />