HomeMy WebLinkAbout2006-01-12 - Council Minutes - Part 2CITY OF CORCORAN
CITY COUNCIL FINANCE WORKSHOP
January 12, 2006
The Corcoran City Council met on January 12, 2006, at city hall in Corcoran, Call to Order
Minnesota. Present were Mayor Cossette, Councilor Grabowski, Councilor Jacobs,
Councilor Lymangood, and Councilor Thomas. Also present were Administrator Roll Call
Vergin, Clerk Lindberg, City Engineer Vander Top, Joanne Foust of Municipal
Development Group, and Paul Donna of Northland Securities. Mayor Cossette
called the meeting to order at 6:00 p.m.
Presentation:
Joanne Foust, Municipal Development Group
Joanne Foust's presentation discussed alternative methods to finance public
infrastructure, policies for financing improvements, definitions of collectible fees,
cash flow issues, and fund balances. Foust requested Council's input on policies
relating to financing public infrastructure. The Council stated a willingness to use
Tax Increment Financing in the southwest area, requested the `net acres' definition
be consistent with the City's current use of the term, and asked for separate cash
flow analysis of the southwest area.
Joanne Faust, Municipal
Development Group
Paul Donna, Northland Securities Paul Donna, Northland
Paul Donna's presentation discussed general obligation bonds, general obligation Securities
revenue bonds, revenue bonds, and MN Statutes governing debt issuance. The
presentation reviewed the authorized purposes, revenue sources, and bonding
requirements for each source of funding.
Adjournment
MOTION by Thomas, seconded by Grabowski, to adjourn the meeting at 7:00
p.m. Voting Aye: Cossette, Grabowski, Jacobs, Lymangood, and Thomas. (Motion
carried 5:0)
Bea Lindberg, Clerk/Treasur r
Adjournment