04-24-06 WSITEM 3_2
CITY OF OTSEGO
CITY COUNCIL WORKSHOP
April 24, 2006 t
Roll Call: Otsego City Council: Mayor Larry Fournier,
Councilmembers Dan Scharber, Mark Thorsted, Jessica Stockamp,
and Vern Heidner.
City Staff: City Administrator Michael Robertson, City Clerk
Judy Hudson, and City Accountant Gary Grolen.
Mayor Fournier called the workshop to order at 5:30 p.m.
Review of City Finances - Administrator Robertson and
Accountant Groen reviewed the bonding needs of the City.
They noted that there will be three bonds:jsold in 2006.
A Sewer & Water Revenue Bond which will pay for the movement
of sewer and water lines out of the StatelHighway 101 right-
of-way, the extensions of sewer and water -lines to serve
southeast Otsego, and the construction ofia new water tower.
This bond will be paid solely by sewer and water access
charges and will not require any City taxdollars.
A Street Improvement Bond for the improvements of Parrish
Avenue, Queens Avenue, 62"d Street and Quayle Avenue, and
County Road. -39. This bond will be paid for by assessments,
road access fees, storm sewer funds, accumulated funds, and
City tax levies.
An EDA Bond for the construction of a new Public Works
Building. This bond will be paid for by City tax levies and
accumulated funds.
Council asked about the timing for the bonds. Accountant
Groen indicated that the Sewer & Water Revenue Bond probably
needed to be done some time this summer and that the other
two bonds could wait until fall or winter when most of the
costs had been determined.
With no other business, Mayor Fournier adjourned the meeting
at 6:25 p.m. k.
Michael Robertson
City Administrator