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� <br />City Council Minutes <br />June 5, 2012 <br />Page 3 of 7 <br />Discussion was held on the amount of reserves in the water fund. Nancy <br />Malecha noted that there was approximately $620,000 in the fund. <br />Discussion was also held regarding the rating process and the <br />consequence of not achieving an A rating. Paul Steinman stated that if the <br />City does not receive an A rating, the strategy would have to be reviewed. <br />MOTION CARRIED 5-0. <br />COUNCIL MEMBER MALECHA MOVED TO CALL A SPECIAL <br />MEETING OF THE CITY COUNCIL FOR JULY 10, 2012 AT 6:30 P.M. <br />TO CONSIDER THE AWARD OF THE BONDS. COUNCIL MEMBER <br />SJOBLAD SECONDED THE MOTION. MOTION CARRIED 5-0. <br />5.3. Reauest for Road Vacation <br />The Clerk noted that the City has received a petition to vacate a portion of <br />Lind Street which is located at the end of Pequot Boulevard. She <br />explained that State Law allows a City to vacate a street only upon a <br />finding that the vacation is "in the interest of the public." <br />�-- The Clerk noted that notice to the Commissioner of Natural Resources <br />must be given. She suggested that the Council consider contacting the <br />DNR first to get an idea as to whether they would consider the vacation. <br />Mark Mortenson, petitioner, noted that the roadway that he is requesting <br />to vacate is a non-existent part of Pequot Boulevard which has never been <br />utilized as a roadway and leads down an embankment and into the lake. <br />Mayor Adams stated that she visited the site and agreed that it would be <br />impossible to utilize the road as a roadway. <br />It was the consensus of the Council to move forward with the vacation if <br />the DNR gives an indication that they have no objections. <br />5.4. EDC — Discussion on WAC/SAC <br />Mark Jurchen and Cindy Rieck, EDC members, addressed the Council <br />regarding their concern with the lack of an ordinance for WAC and SAC <br />and the need to develop an equivalent residential unit. <br />MAYOR ADAMS MOVED TO HAVE WSN DEVELOP A WAC AND SAC <br />ORDINANCE TO INCLUDE A DEFINITION AND TABLE FOR <br />� EQUIVALENT RESIDENTIAL UNITS AT A FEE OF $2,400 WITH THE <br />