Print VersionStay Informed
MINUTES/FINANCE COMMITTEE
Monday, February 2, 1998 - 7:15 p.m.

Members present: Carpenter, Babinchak, Bakken, Hamerlik.

1. Request for a resolution from the council allowing plat to be
recorded even though taxes not paid.
Committee reviewed copies of the resolution from the city attorney to allow replatting of land by Big Sioux Travel Plaza, Inc. (Lot 1, Block 1, Columbia Park 22nd Addition). There was some discussion re. payment of taxes within six months (resolution included date of July 1, 1998). Moved by Babinchak and Bakken to adopt the resolution. Motion carried.

2. Matter of calling for public hearing regarding issuance of
Industrial Development Revenue Bonds for corporate center.
Mr. Schmisek reported they received information from Dorsey firm for sale of MIDA bonds on behalf of Jobs Development Authority and that there is requirement for 15-day notice, public hearing scheduled for Monday, March 2, 1998, and ask that they adopt resolution calling for public hearing. He reported that the JDA will also call for public hearing this evening.

Mr. Schmisek reported that the amount of bonds issued to finance is $6.3 million and bonds shall be limited obligation of the City payable solely from the revenues pledged to the payment thereof, the City shall not be subject to any liability thereon. He noted that the project will be leased to the Grand Forks Jobs Development Authority who will sublease to various tenants.

Moved by Bakken and Babinchak that we adopt the resolution calling a public hearing on the Downtown Corporate Center Project to be considered the city council on Monday, March 2, 1998. Motion carried.

Moved by Hamerlik and Bakken to adjourn; meeting adjourned at 7:25 p.m.

Alice Fontaine
City Clerk

Dated: 02/03/98