HomeMy WebLinkAbout10-23-1995RECORD OF OFFICIAL PROCEEDINGS
4 5 5 6 CITY OF ROCHESTER,
Special Meeting No. 41 - October
OF THE COMMON COUNCIL
MINNESOTA
23, 1995
Agenda
Item
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E-1
E-2
E-3
The special meeting No. 41 was called to order at 4:30 P.M. by
President Hunziker, Roll c�;ll was taken, President Hunziker,
Councilmembers Canfield, Evans, McConnell, Myhrom, Senjem and Stobau
Absent: None.
The Special IIeeiCing was read by President Hunziker, the same being
called for the purpose of Pemstar Development Project Subordination
Agreement and any other business the Council may deem proper.
Senjem moved, Canfield second to amend the subordination agreements
with First Bank as described in the Request for Council Action
amending the Development Agreement to require the purchase of the
building that PEMSTAR is now leasing. This would remove the
$3,500,000 restriction from the subordination agreements so that
PEMSTAR can count that debt as part of the company's capital base.
With this and other small loans, puts the total credit approved by th
bank up to just under $8,000,000.00. Ayes (7), Nays (0).Motion carrie
Evans moved, McConnell second to adopt Resolution No. 560-95
approving the Rochester -Olmsted County Emergency Operations Plan.
Ayes (7), Nays (0).Motion carried.
Canfield moved, Stobaugh second to adopt Resolution No. 561-95
approving the Revised Joint Emergency Management /Joint Powers
Agreement. This would reduce the number of board members from
7 to 5. This would still include three City representatives on
this board. Ayes (7), Nays (0).Motion carried.
Having no further business, Evans moved, Stobaugh second to adjourn
the meeting. Ayes (7), Nays (0).Motion carried.
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