Loading...
The URL can be used to link to this page
Your browser does not support the video tag.
Home
My WebLink
About
City Council - Regular Meeting - Nov 3, 2014
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¶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¶VXQLODWHUDOUHORFDWLRQRI3(*$FFHVVFKDQQHOVZLWKRXWWKH&LW\¶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¶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¶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¶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