City of Grand Forks, North Dakota


	MINUTES/FINANCE COMMITTEE Monday, February 5, 1996 - 6:30 p.m. Members present: Carpenter, Babinchak, McCabe. 1. Matter of tax increment financing for Grand Forks Mercantile Exchange (Baltic, LLP) The committee reviewed information presented relative to this matter. Moved by Babinchak and McCabe that we adopt a resolution declaring the City's intent to sell $110,000 of TIF (tax incre- ment financing) Bonds to reimburse the project costs of the Grand Forks Mercantile Exchange project. Motion carried. 2. Matter of First Supplemental Bond Indenture, and resolution authorizing execution and delivery of the Supplemental Bond Indenture (United Hospital bond issue). Dwight Thompson, United Hospital, was present. The committee reviewed information presented. Moved by Babinchak and McCabe that we approve the First Supplemental Bond Indenture and approve the resolution authorizing the execution and delivery of the supplemental bond indenture. Motion carried. Meeting adjourned. John M. Schmisek/af City Auditor Dated: 2/14/96.