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SPECIAL MEETING OF THE PEQUOT LAKES CITY COUNCIL <br /> THURSDAY, AUGUST 23, 2018 <br /> PEQUOT LAKES CITY HALL <br /> Members Present: Mayor Adams and Council Members Akerson, Loukota, <br /> Pederson and Swanson <br /> Members Absent: None <br /> Staff Present: Nancy Malecha, City Administrator; Deb Marty, City <br /> Clerk/Treasurer; Dawn Bittner, Zot�ing Specialist; Eric Klang; <br /> Police Chief; and Tom Nelson, Fire Chief <br /> 1. Call Meetina to Order <br /> Mayor Adams called the meeting of the Pequot Lakes City Council to <br /> order at 6:30 p.m. <br /> 1.1. Pled�e of Allegiance <br /> Mayor Adams led with the Pledge of Allegiance. <br /> 2. Consider Aaenda <br /> COUNCIL MEMBER SWANSON MOVED TO APPROVE THE AGENDA. <br /> COUNCIL MEMBER PEDERSON SECONDED THE MOTION. MOTION <br /> CARRIED 4-0. � <br /> Caancif Member Loukota amved at 6:31. <br /> 3. 2019 Preliminarv Budaet Review <br /> Nancy Malecha informed the Council that the tax levy fund budgets project <br /> a preliminary tax levy of$1,678,775 which is an increase of$40,990 or <br /> 2.5%from 2018 and an estimated tax rate decrease of 0.002%. Ms. <br /> Malecha highlighted the projects that were not included in the above <br /> information and the possible effect on the tax rate if they were to be <br /> included and they are as follows: <br /> • 2018 Street & Utility Improvements Project— projected cost of <br /> $862,500 with an annual interFund loan payback amount of$82,800 <br /> for 12 years beginning in 2019 and it may increase the tax rate by <br /> 1.5% <br /> • 2019 Trailside Park Phase 1 Project—estimated cost of$2,600,000 <br /> with an annual bond payment of$176,000 for 20 years beginning in <br /> 2020 and it may increase the tax rate by 2%. <br />