03-08-2006 Council Minutes - Laserfiche WebLink

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City Council Minutes March 8, 2006 Page 3 of 11 ----------------------------- The Council questioned whether the fee elimination was for this particular request or for all Premise Permits. Following Council discussion, it was the consensus of the Council to lower the fee to $50.00 COUNCIL MEMBER GREER WITHDREW HIS SECOND. COUNCIL MEMBER PFEIFFER WITHDREW THE MOTION. COUNCIL MEMBER PFEIFFER MOVED TO REDUCE THE PREMISE PERMIT FEE TO $50.00. COUNCIL MEMBER GREER SECONDED THE MOTION. MOTION CARRIED 5-0. COUNCIL MEMBER RYAN MOVED TO ADOPT RESOLUTION 06-10 APPROVING PREMISES PERMIT FOR THE AMERICAN LEGION #49 AUXILIARY FOR BINGO. COUNCIL MEMBER BOLZ-ANDOLSHEK SECONDED THE MOTION. MOTION CARRIED 5-0. 3.8. Acknowledgement of City's Cost Allocation for Fire Services The Council had questions regarding the formula for fire allocation costs. Discussion was held regarding the cost allocation formula. 4. Open Forum No one was present for open forum. 5.1. City Hall Refinance The City Clerk explained that the City's lease purchase with American National Bank for the City Hall requires the interest rate to be adjusted every two years. The new rate adjustment will go from 4.1% to 7.69%. The Clerk noted that American National Bank has offered to adjust this rate to 6.75%. The Clerk indicated that according to the City's financial consultant, this is a fair rate. She also indicated that after checking with Lakes State Bank she was informed that they could not match or offer a lower rate. The Clerk noted that the current balance for the building is $403,674.13. COUNCIL MEMBER PFEIFFER MOVED TO CONTINUE THE LEASE PURCHASE AGREEMENT FOR PAYMENT OF THE CITY HALL WITH AMERICAN NATIONAL BANK AT A RATE OF 6.75%. COUNCIL MEMBER RYAN SECONDED THE MOTION. MOTION CARRIED 5-0. 5.2. Park Board Update