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 - Apr 20, 2020
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¶V/LTXRU ,QF'%$-RH $GRSWHG5HVROXWLRQ1RDSSURYLQJWKHORFDWLRQFKDQJHIRUWKHRIIVDOHIXOO LQWR[LFDWLQJOLTXRUOLFHQVHIRU-RH¶V/LTXRU,QF'%$-RH¶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x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¶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