thinking all right it is 6:30 Monday February 24th 2025 we'll call this city of Mayor city council meeting to order if you could please join me for the Pledge of Allegiance Pledge of ALG to the flag of the United States of America and to the Republic for which it stands one nation under God indivisible with liberty and justice for all thank thank you do we have any additions to the agend to the agenda tonight I have no additions for tonight mayor hearing none I'll look for a motion to approve the agenda as presented motion second we have a motion a second all in favor say I I post same sign motion carries 30 that will take us to public comments if there's anyone who would like to discuss anything that is not on the agenda please come forward and seeing none we'll close public comments and move to the consent agenda is there anything on the consent agenda that should be pulled for further discussion uh I don't have any further discussion anything I just curious so this Wetland Management Service is this the company that helps sell the Wetland credits or not like I can't remember what this is the uh for the Wetland management service agreement these are the ones that actually go into the field and do the remediation of okay the invasive species that crop up from time to time what's needed replace and then this is okay yep perfect uh does that take care of everything Nikki for you uh yeah I just needed a refresher yep perfect and so then I'll look for a motion to approve the consent as presented motion second we have a motion a second all in favor say I I I oppose same sign motion carries 30 Z that will take us to our business items to consider adoption of resolution establish establishing procedures Rel relating to compliance with reimbursement Bond regulations under the Internal Revenue code thank you mayor so our uh Bond Attorney Mary ipple she had sent me an email a couple of weeks ago with this information apparently the Minnesota public facilities Authority has changed their submitt documents as uh specifically their resolution that cities pass and normally in that resolution I when she had mentioned it I vaguely recalled it from past PFA loans I a part of in my career uh there was always language in there that built in automatic reimbursement under the IRS treasury code but apparently PFA has taken that out of their uh standard resolution um with that happening now cities need to go ahead and do what we're doing right now is establishing if they don't have it already establishing these procedures related to compliance with the IRS treasury code wherein this resolution that is up for consideration and adoption would authorize the city administrator to make Declarations of intent to reimburse which happen automatically under the PFA loans but now this is just another extra step where I would then have to submit the document um as exhibit a in the resolution as part of the PFA loan process the next time this doesn't affect any of our current PFA loans we have we currently have two of them uh this would affect any future ones and the next one I see us doing would be for the wastewater treatment facility improvements that we've been talking about perfect thank you any further questions for the city administrator hearing n I'll look for motion to approve resolution 2025-the 20 25-7 motion second we have a motion a second all in favor say I or any further discussion no all in favor say I post and sign motion carries 30 that'll take us to consider adoption of resolution authorizing early repr early reproduction of an interfund loan should be repayment repayment yeah of an in fund loan from the sewer fund to the storm SE fund thank you mayor back in 20 late 2021 the city council had authorized an interfund loan from Storm sewer uh from sewer to storm sewer to finance the uh the easement agreement with Joel vinam for the wetlands project that then commenced um for the acreage that was placed under it uh at the time the storm fund likely didn't have the funds to go ahead and finance it out of its reserves but uh now today it's sitting in rather healthy position the current fund b or the current balance of the inter fund loan is 1,000 $4,753.14 the uh early payment this would simply get it off our books we don't have to worry about it about it anymore we don't have any major expenditures out a storm fund that would threaten the remaining balance and cause any sort of financial instability so with that being said it would be a good time to get this paid off and the funds balanced out uh after the payment uh the storm fund would have approximately $163,500 further discussion okay so I'm just really confused on what this means so um I'm I apologize that I'm not interfund loan what does like I'm just very confused so an inter fund loan is a financing mechanism cities have uh since we use a fund based system we have the sewer fund we have the water fund we have general fund we have multiple funds an interfund loan means you take from you borrow from one to help pay for another since the sewer fund historically has had a pretty fantastic fund balance uh I'm sure at the time since I wasn't here they looked at that rather than issuing standard debt which you would you would be paying for issuance costs things of that nature it's coming back to me what you can do instead if you have a fund with some good money in it and it's a very usually a short turnaround usually you do interf fund loans I've done them five to sevenish years or less type of Arrangements um and this was a five you borrow from one to the other and then there's repayment arrangements as part of that term and interest rate which so we're like kind of paying ourselves interest yes right that's I think where I was getting confused was and I you know I was part of this but that was four years ago so I probably don't I don't remember exactly okay so we borrowed from fund a to pay vinkam but we charged ourselves interest yeah yes so sto so the money vinm wanted is money storm fund didn't have enough in it to make that right so the city says well sewer fund's doing really well we're gonna take that give it to storm storm then pays but then over time storm pays back okay and so you're just saying instead of waiting till the term is done we can pay the storm fund is healthy enough now yep we to pay back the sewer fund yep okay got it thank you perfect any other discussion so it'll be just nice to clean this up I think at this point it just makes sense uh with their funds being healthy um so with that then all in favor say hi hi hi post same sign motion carries 30 excuse me that'll take us city council reports uh council member mcneel anything report on no council member help I haven't had any meetings so and I have not either we do have a Personnel committee meeting scheduled for this Thursday to continue our discussion on uh fire department members pay um and and making sure we're aligned appropriately for that and the fire chief will be joining us this meeting to help uh give us a better understanding on on some of the questions we had so with that I have nothing else I'll look for a motion to adjourn Mo motion second motion second all in favor say I hi same sign we areed I was like didn't know just trying to make it easy so doesn't have to try and decide if it's Chad nck nck Chad Chad n