City Council - 11/18/1980 APPROVED MINUTES A.
1t EDEN PRAIRIE CITY COUNCIL MINUTES
l ry.
1-UESDAY, NOVEMBER 18, 1980 7:45 PM, CITY HALL
COUNCIL MEMBERS PRESENT: Mayor Wolfgang Penzel , Dean Edstrom,
Dave Osterholt and Paul Redpath
COUNCIL MEMBERS ABSENT: Sidney Pauly
COUNCIL STAFF PRESENT: City Manager Roger K. Ulstad; City Attorney
Roger Pauly; Planning Director Chris Enger;
Director of Community Services Bob Lambert;
City Engineer Carl Jullie; Finance Director
John Frane, and Joyce Provo, Recording
Secretary
I. APPROVAL OF AGENDA AND OTHER ITEMS OF BUSINESS
The following items were moved to the Consent Calendar: VII. C. Request from the
Eden Prairie Athletic Association, VIII. D. 2. Receive 100 etition for improvements
on W. 70th Street, I .C. 51-344C Resolution No. 60-222 , VIII. D. 3. Receive
` feasibility report for sewer and water laterals on Willow Creek Road at Flying
Cloud Drive, I.C. 5 -38 (Resolution No. 80- - settin4 earina or December 16,
1980), VIII. D. 4. Petition for vacating drainage and utility easements abuttin
lots_ 9 and 10, block 15, Bluffs est. Resolution No. 0- - settingearin or_
December 16, 1980) , VII1. D. 5. Considar bids for Sunset Trail s .C. 51-392
(Resolution No. 80-226), and VIII. E. 3. Resolution No. 80-228 relating to
300,000.00 Certificates of Indebtedness Series 1980; authorizing the issuance and
calling for the sa e thereof.
Resolution Nos. 80-229, 80-230 and 231 regarding conformance with developer's _
agreements for Shady Oak Park 2nd Addition, Lot 1 and Lot 2, and Shady Oak Park
4th Addition, Lot 21were added as item VIII. C. 3.
MOTION: Edstrom moved, seconded by Redpath, to approve the agenda as amended
and published. Motion carried unanimously.
II. MINUTES OF CITY COUNCIL MEETING HELD TUESDAY, NOVEMBER 4, 1980
Pg. 8, 5th para. , 2nd line, strike "16" and insert in lieu thereof "18".
MOTION: Osterholt moved, seconded by Edstrom, to approve the minutes of the City
Council meeting held Tuesday, November 4, 1980, as amended and published. Motion
carried unanimously.
III. CONSENT CALENDAR
A. Cancel November 18 1980 Public Hearing) for Cable TV (December 2, 1980 Cable TV
Public Hearing stirll sche'ued as set by Council previously)
B. Receive petition and order feasibility report for sanitar sewer and watermain
improvements on Luther Wayand Meadow Lane, I.C. -39 Reso ution No.
C. 80-2 3
C. Request from Fox, McCue & Murphy to serve as the City of Eden Prairie's Auditors
for the 1980 fiscal year audit
Approved as per communication dated November 4, 1980, from Fox, McCue & Murphy.
City Council Minutes - 2 - Tues. ,November 18 , 1980
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D. Request from the Eden Prairie Athletic Association (formerly item VII . C. )
Approved as per staff recommendation in memo dated November 14, 1980 from Director
of Community Services Lambert.
E. Receive 100% petition for improvements on W. 70th Street I.C. 51 -344C (Resolution
No. 80-222) - formerly item VIII . D. 2.
F. Receive feasibility report for sewer and water laterals on Willow Creek Road at
Flying Cloud Drive I.C. 51-382 Resolution No. 80-224 - setting hearing for
December 16, 1980 — formerly item VIII . D. 3.
G. Petition for vacating drainage and utility easements abutting lots 9 and 10
block 15, Bluffs West Resolution No. 80-225 - setting hearing for December 16,
1980 formerly item VIII. D. 4.
H. Consider bids for Sunset Trails , I.C. 51-392 (Resolution No. 80-226) - formerly
item VIII . D. 5.
Awarded bid to Brown & Cris, Inc. in the amount of $74,245.10.
I. Resolution No. 80-228, relating to $300,000.00 Certificates of Indebtedness, '
Series 1980; authorizing- the issuance and calling for the sale thereof_ - formerly
item VIII. E. 3.
Bond sale set for December 9, 1980.
MOTION: Edstrom moved, seconded by Redpath, to approve items A - I on the Consent
Calendar. Roll Call Vote: Edstrom, Redpath, Osterholt and Penzel voted "aye" .
Motion carried unanimously.
IV. PUBLIC HEARINGS
A. EIDE ' S KNOLL by Orris Eide. Request to rezone 2 acres from Rural to R1-13.5
and preliminary plat 4 lots for 3 new homes. Located at 15601 Valley View Road.
(Ordinance No. 80-29 and Resolution No. 80-220)
Planning Director Enger explained Mr. Eide is at the Council meeting this evening
to answer any questions the Council members may have, and pointed out the location
of the plat consisting of 4 lots for 3 homes. The Planning Commission reviewed
this proposal on 9/22/80 and recommended approval to the City Council subsequent
to Watershed District approval and City Engineer's review, and contingent on the
Staff Report dated 9/16/80.
The question was raised as to the ownership of the 3 outlots south of Eide's
Knoll . City Engineer Jullie felt the City owned Outlot I , and the developer of the
{ Meadow' s owned the remaining two outlots. However, Jullie said he would check
to verify this information.
MOTION: Redpath moved, seconded by Edstrom, to close the Public Hearing and give
a 1st Reading to Ordinance No. 80-29, rezoning 2 acres from Rural to R1-13.5 for
Eide' s Knoll by Orris Eide. Motion carried unanimously.
MOTION: Osterholt moved, seconded by Redpath, to adopt Resolution No. 80-220,
approving the preliminary plat of 4 lots for 3 new homes for Eide's Knoll by
Orris Eide contingent on the proponent, as part of the platting, provide a public
access easement to Outlot I within his plat to be worked out with the City Planner.
Motion carried unanimously.
City Council Minutes - 3 - Tues. ,November 18, 1980
A. EIDE' S KNOLL. (continued)
( Mr. Cardarelle stated on behalf of the proponent that they would be willing to
sign an easement agreement,
MOTION: Edstrom moved, seconded by Redpath, to direct staff to draft a developer's
agreement in accordance with the recommendation of the Planning Commission and A°
Staff Report dated 9/16/80. Motion carried unanimously.
B. SINGLE TREE OFFICE by Willys Holmquist. Request to rezone 2 acres from Rural to a .
Office for an office building. Located in the southeast quadrant of Single Tree
Lane and Eden Road. (Ordinance No. 80-30)
Tim Pierce, Pierce & Associates, spoke to the proposal and introduced Willys
Holmquist, the proponent, and Frank Carda relle, the general contractor.
Planning Director Enger explained this item was reviewed by the Planning Commission
on 10/14/80 and the Commission recommended approval of the request for rezoning
to the City Council on a 5 - 0 vote subject to the Staff Report dated 10/9/80.
MOTION: Edstrom moved, seconded by Redpath, to close the Public Hearing and give
a 1st Reading to Ordinance No. 80-30, rezoning 2 acres from Rural to Office
for Single Tree Office by Willys Holmquist. Motion carried unanimously.
MOTION: Edstrom moved, seconded by Osterholt, to direct staff to draft a
developer's agreement incorporating the recommendations of the Staff Report dated
10/9/80 and Planning Commission. Motion carried unanimously.
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( V. PAYMENT OF CLAIMS NOS. 3864 - 4100
MOTION: Redpath moved, seconded by Edstrom, to approve Payment of Claims Nos.
3864 - 4100. Roll Call Vote: Redpath, Edstrom and Penzel voted "aye" on all
Claims, Osterholt "abstained" on Claim No. 4015 and voted "aye" on remaining
claims. Motion carried.
VI. REPORTS OF ADVISORY COMMISSIONS
No reports.
VII. PETITIONS, REQUESTS & COMMUNICATIONS
A. Presentation from Eagle Enterprises regarding status of their elderly housing
project and preliminary request for Community Development Block Grant participation
City Manager Ulstad explained City staff has visited with Eagle Enterprises and
talked about their project. Their communication to the Council dated October 14,
1980 outlines their original request.
Lance Norderhus, Eagle Enterprises, Inc. ,stated the original request in their
communication dated October 14, 1980, was for $200,000.00 in Community Development
Block Grant funds, However, since the time the request was submitted he has given
further thought to the dollar amount and feels that it is possible in the final
analysis that a lesser amount might be sufficient. Norderhus requested of the Counci,
an opportunity to do a market study and possibly paying purchase commitments or
pre-selling the units which would provide a turn-key operation rather quickly on
completed construction, thus reducing carrying costs of the project. Upon
completing the study or pre-sell , he would like to return to the Council to review
the total cost.
City Council Minutes - 4 - Tues. ,November 18, 1980
A. Presentation from Eagle Enterprises (conti.nued)._
Osterholt asked if the areas where the City has low and moderate income housing,
i .e. , Windslope, Briarhill or perhaps the Muriel Humphrey residences, have any
particular needs that would be eligible for Community Development Block
Grant fund expenditures.
Planning Director Enger replied in the affirmative stating they have exhibited
needs to the City in the past mostly in terms of Windslope and Briarhill for the
development of parks, which have been provided. There are additional eligible
activities that could be found for these projects , however, they have not come
forward within the last couple of years since the City has been providing the n
recreational benefits.
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Osterholt felt this would be a good project for the Human Rights & Services
Commission whereby they could make a recommendation on how CDBG funds could be
used by submitting a list of priorities to the Council .
Enger explained Mr. Norderhus is asking for some type of participation from CDBG,
although he isn't asking for any dollar amount or any authorization tonight because
he doesn' t have a good idea how much money he will need. Money has been set n
aside in the three year program to try to provide in some way up to 160 elderly
units , and Mr.Norderhus feels that there is quite an expenditure placed in the
marketing in their evaluation of what money they might need. If they can pre
sell some units, it is their feeling the Community Development Block Grant
participation might be a lot less than $200,000.00. What Mr. Norderhus is asking
tonight is it his project is in line with the overall three year CDBG program, and
sanction to go ahead and do some pre-selling of units to determine if one bedroom
( or two bedroom units are best, if there should be garages, if there should be k
amenities, if there should be balconies, and how quickly two units sell . Enger's
feeling is that this pre-sell approach should certainly help the City answer
questions about housing for the elderly. Enger added the pre-sell approach is
a safe approach for Eagle Enterprises and also for the City.
Penzel agreed the Council should probably also look at the other needs the City
has, but urged the Council to not make that a necessary prerequisite before
encouraging Mr. Norderhus to pursue his own specific project. Penzel suggested the
Council encouraged Mr. Norderhus to proceed with his particular approval as long as he
clearly understands the Council this evening is not making a commitment to any I
specific number of dollars, commenting the Council is thereby standing by the
commitment that was made two years ago when the original banking of funds was
initiated with the intent of providing housing opportunities which otherwise using
market funding only would not be available.
Osterholt stated when Mr. Norderhus originally brought his proposal before the
Council there was no request for CDBG money. It may be the best way to spend
the money; however, he would like to see the other needs in the community before
making a commitment.
Mr. Norderhus explained they are willinq to spend the money for the marketina as long
as there is some encouragement by the Council .
MOTION: Redpath moved, seconded by Osterholt, to continue the commitment of
f Community Development Block Grant funds for the purpose of providing low and moderate
l income housing, and request the Human Rights 8 Services Commission to determine
what needs there are in the community from their prospective. Motion carried
unanimously.
Osterholt asked that an inquiry be made as to what the future of Community
Development Block Grant funds may be in the next Session of Congress.
City Council Minutes - 5 - Tues. ,November 18, 1980
B. Community Development Block Grant Program for use of Year VII funds
IF MOTION: Redpath moved, seconded by Edstrom, to approve the proposed Year VII
Program which set aside the total amount as the third year of a program that banks
the money for use as a subsidy toward provision of low and moderate income
elderly housing units. Motion carried unanimously.
C. Request from the Eden Prairie Athletic Association
This item was moved to the Consent Calendar (III . D. ) .
D. Request from the Eden Prairie Athletic Association
Director of Community Services Lambert referred to the two letters to be considered
by the Council - one from the School Board and the second from Mr. Wigen,
Chairman of the Fund Raising Committee of hAEP.
The School Board' s letter and first part of Mr. Wigen's letter refer to a
commitment for funding for the new proposed- hockey team locker room addition to
the Community Center. Lambert asked that the Council take action to either approve
or disapprove of this item.
MOTION: Osterholt moved, seconded by Edstrom, to approve the hockey locker room
addition with funding sources as recommended by the School District and the Ice
Arena Building Committee of HASP. Roll Call Vote: Osterholt, Edstrom, Redpath
and Penzel voted "aye" . Motion carried unanimously.
Lambert referred to the second pertaining to Mr. Wigen's discussions with several
businesses regarding donations for half a zamboni , and one confirmation on a
scoreboard with a possible second. Lambert displayed a graphic of the proposed
scoreboard for Council members to review.
Council members felt the advertising on the scoreboard as depicted to be in-
appropriate and that a small sign on one end of the scoreboard with an appropriate
logo would serve equally as well .
Mr. Wigen stated he was not sure the donor would go along with a smaller sign, but
would check to find out.
Penzel added a modest sign with a beautiful scoreboard can be done successfully
and the Council would consider it very favorably, i .e. , not to exceed 10% of the
basis sign square footage.
Lambert commented each side of the zamboni would have a sign about 3 feet by 4 feet,
and as of this date Suburban National Bank has offered to donate 50% of the total
cost of one zamboni . Council had no problem with the size of the sign on the
zamboni .
Lambert stated he would bring in another design proposal for a scoreboard within
two weeks for the Council to consider.
VIII . REPORTS OF OFFICERS, BOARDS & COMMISSIONS
{ A. Reports of Council Members
}
1. Councilman Osterholt referred to the resolution on campaign spending and
reports filed in City Hall pertaining to same.
City Council Minutes - 6 - Tues. ,November 18, 1980
2. Mayor Penzel brought to the Council 's attention the request that is going
to be made by the Board of Education to block off West 72nd Street, and
suggested the Council may consider asking the Board of Education, in the
event the request is granted, to open up Valley View Road.
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3. Councilman Osterholt referred to the signage on some of the buildings within the
City and questioned if the sign ordinance has been enforced. Osterholt
added he would talk to the City Manager about specific signs.
4. Councilman Redpath brought the Council up-to-date on Cable TV.
5. Councilman Edstrom informed the Council as to meetings he has attended and
information he has received on both solid and hazardous waste. Edstrom stated
he would keep the Council informed on these issues in the future.
B. Report of City Attorney
1. Park Use Ordinance (continued from November 4, 1980)
City Attorney Pauly distributed the revised Park Use Ordinance to Council
members.
MOTION: Redpath moved, seconded by Osterholt, to refer the revised Park
Use Ordinance to the Parks, Recreation & Natural Resources Commission for
their review and recommendation. Motion carried unanimously.
2. Discussion on Northern States Power Franchise
R City Attorney Pauly reviewed with the Council the status of the Northern
States Power Francise agreement. Pauly stated he would bring the agreement
before the Council as soon as he has received feedback from City Staff
and sat down with the NSP legal department. Hopefully this will be ready
for Council 's consideration by December 2nd and, if not, shortly thereafter.
C. Report of City Manager
1. Utility rates
City Manager Ulstad spoke to the proposed utility rate structure schedule
which has been submitted for the Council 's review. Ulstad noted the City
has continued to use the present rates for a period of time and staff feels
it is necessary to review these rates. Mr. Frane has developed rates which
he feels are necessary both for the operation of the City's utility system and
also the capital outlay that will occur within Eden Prairie in the next two
years.
Osterholt questioned if these rates were to be charged, what would the City
collect in 1981, 1982 and 1983 in terms of total dollars (revenue) and what
would the monies be expended for? Frane replied he would put together these
figures for the Council 's review.
' It was the general consensus of the Council that consideration of the proposed
rate schedule be continued to December- 2nd, allowing Mr. Frane to prepare
information requested by the Council .
City Council Minutes - 7 - Tues . ,November 18, 1980
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2. Lease for liquor store (Preserve Village Center)
City Manager Ulstad explained prior to the general election, discussion
took place regarding the leasing of a second liquor facility which was
primarily based on the assumption that the liquor question would be on the
November ballot. City Attorney Pauly did inform staff that we could not ask
that question this November, but would have to wait until a subsequent
date and establish an election date and ask the question sometime in 1981:
Ulstad referred to the letter received from Richard W. Gibson, Vice President
and General Manager of Supplee Enterprises , Inc. , the firm that is handling
all of the lease arrangements for the Preserve Village Center at Anderson
Lakes Pky. & Co. Rd. 18. Late this summer Ulstad explained he pointed out to
Mr. Gibson it was the opinion there would have to be an election to determine
whether the City voters wanted the City to continue in the liquor business or
not, so Mr. Gibson inferred he would hold the space open. In the communication
dated November 7, 1980, Mr. Gibson indicates the space is still available and
would like the City to commit as to whether the City is wanting the space or not.
Reference was also made to the memo from Finance Director Frane giving a
tentative estimate on what the City might anticipate in that area.
Penzel asked for a recommendation from City Manager Ulstad.
Ulstad replied he feels 1) the City voters are going to approve the liquor
question, 2) the liquor operation at the Prairie Village Mall is a successful
one which is operating at about 13% of the gross sales of the Penny's
Supermarket and anticipated volumes at the Prairie Village Center to be a little
less (9%) , however, based on that the City can show a profitable operation
in that location also. Ulstad suggested the City enter into,or at least
review, a lease that would call for a three year lease with an option for
renewal with the same clause in effect with the Prairie Village Mall that the
City can break the lease without too much difficulty in the event the City
feels 3 years is too long a time. Ulstad requested authorization from the
Council to negotiate a lease with Mr. Gibson and come back with same for
review by the Council .
Osterholt asked that a diagram be provided the Council showing the location of
the liquor store in the Preserve Village Center.
MOTION: Redpath moved, seconded by Osterholt, to instruct staff to negotiate
lease arrangements for a liquor sotre in the Prairie Village Center. Motion
carried unanimously.
3. Resolution Plos. 80-229, 80-230 and 231 regarding conformance with developer's t
a reements for Shady Oak Park 2nd Addition, Lot 1 and Lot 2, and Shady Oak Park
4th Addition, Lot 2
MOTION: Redpath moved, seconded by Edstrom, to adopt Resolution Nos. 80-229,
80-230 and 231 regarding conformance with developer's agreements for Shady
Oak Park 2nd Addition, Lot I and Lot 2, and Shady Oak Park 4th Addition, Lot
2. Motion carried unanimously.
4. Meeting on tax increment financing
City Manager Ulstad referred to the meeting to be held Wednesday, November
19, where 24 - 25 property owners in the Major Center Area have been invited
to the City Hall for a meeting to review with them the action taken by the
Council on tax increment financing so those property owners are familiar with
their assessment and what the Council 's intent is.
City Council Minutes - 8 - Tues. ,November 18, 1980 zr
5. Booklet to be sent to Moody' s
f Ulstad displayed a booklet put together by Planning Director Enger to be
sent to Moody' s .
D. Report of City Engineer
1. Public participation work plan for alternate sanitary waste disposal study
for Southwest Eden Prairie continued from 11/4/80
City Engineer Jullie explained this item was on the Council agenda on
November 4th at which time the Council had questions about the fairness
and equity of this program, and whether it was something the City should proceedi
with. At that time Jullie indicated to the Council it was pretty much
mandatory and there wasn't much choice in the matter. However, since that
time Jullie explained he did meet with two members from the Minnesota Pollution
Control Agency and Mr. Kent Lande, consulting engineer from Kirkham Michael
Associates, Inc. Mr. Lande has written up a brief summary of things that
were discussed at this meeting which Jullie distributed and reviewed briefly
with Council members. It has now been determined that the grant program is
not mandatory, but the County has the authority to impose solutions upon the
City if they determine that there is pollution that should be abated. Therefor
the County -is the one that has the authority to come in and implement some
type of program. To-date Jullie feels Hennepin County is really not staffed
or prepared to do such a thing. Jullie added the City can decline to further
participate in the program and there apparently will be no immediate consequence
to the City, but if problems do surface later than the County may require
Eden Prairie to take corrective measures. If the study is stopped now there
are some costs that have been incurred for the study to-date, but those are
anticipated to be paid 90% by the State and Federal and Eden Prairie has to
pay about 10%. If the program does continue and the City finds some problems,
in reality it would take almost five years before any money would become
available to take any corrective action, which seems ridiculous as when someone
has an overflowing septic tank they are not about to wait five years to have
it corrected. If it is felt there are serious problems in the City, then
maybe the City should proceed with the plan, however, Jullie questioned that
situation.
Kent Lande, consulting engineer with Kirkham Michael Associates, answered
questions regarding study which he prepared (study on file in City Engineer's
office) . Lande reiterated if the City stops now, then only labor costs to-date
and fixed fee would have to be paid and that would be shared 90% State/Federal
and 10% City.
MOTION: Redpath moved, seconded by Edstrom, to decline further participation
and stop the facility plan study. Motion carried unanimously.
2. Receive 100% petition for improvements on W. 70th Street, I.C. 51-344C
Resolution No. 80-222
This item was moved to the Consent Calendar (III . E. ) .
3. Receive feasibility report- for sewer and water laterals on Willow Creek Road
at Flying Cloud Drive, I.C. 51-382eso ut on No, 80- 24 setting hearing
or December 16, 1980)
This item was moved to the Consent Calendar (III, F, ),
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City Council Minutes - B - Tues. ,November 18, 1980
4. Petition for vacating drainage and utility easements abutting lots 9 and
10, block 15, Bluffs West (Resolution No. 80-225 - setting hearing for
December 16, 1980)
This item was moved to the Consent Calendar (III . G, ).
5. Consider bids for Sunset Trails, I.C. 51-392 (Resolution No. 80-226)
Thfs item was moved to the Conselt Calendar (III. H. ) .
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E. Report of Finance Director {
1. Request to set Public Hearing for consideration of a Liquor License for
Mr. Steak for December 16, 1980
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Redpath questioned if there would be an addition to the restaurant, or if x
liquor is planned to be served in a family style restaurant?
Mr. Goeman, managing partner of Mr. Steak Restaurant, replied at this point
there is no addition planned, however, they are optimistic of an addition in th
near future. Liquor would be served strictly as a service bar and strictly d
at the tables or booths . R
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Redpath asked how many Mr. Steak Restaurants serve liquor?
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Goeman responded it would no longer be a Mr. Steak Restaurant as it is
?gainst the franchise agreement. The license if approved would be issued to
possibly an individual or possibly Eden Prairie Steak Associates doing businessf
as.
Osterholt questioned how many licenses the City is entitled to issue, and how
many have been issued?
City Manager Ulstad replied until the official census has been submitted,
the City presently has six, two of which have been issued and four available.
Under the new census Eden Prairie would have twelve, r
MOTION: Osterholt moved, seconded by Redpath, to set December 16, 1980 as the G
Public Hearing date for consideration of a liquor license for Eden Prairie
Steak Associates, Motion carried unanimously.
2. Resolution No. 80-227 relating to $18,500 000.00 General Obligation Tax
Increment Bonds; authorizing the issuance and cat ng or the sale thereof
Bill Fahey, Ehlers & Associates , spoke to his memo dated November 14 1980,
recommending the Council consider selling one issue of $18,500,000.06 General
Obligation Tax Increment Bonds at one time on December 9, 1980. General
discussion took place and Mr. Fahey answered questions of Council members.
MOTION: Redpath moved, seconded by Edstrom, to adopt Resolution No, 80-227,
relating to $18,500,000.00 General Obligation Tax Increment Bonds; authorizing
the issuance and calling for the sale thereof for December 9, 1980, accepting
the recommendation of Ehlers & Associates, and approving the request from the
Housing & Redevelopment Authority to allow them to utilize City Staff for
project improvements. Roll Call Vote: Redpath, Edstrom, Osterholt and Penzel
voted "aye". Motion carried unanimously.
City Council Minutes - 10 - Tues. ,November 18, 1980
3. Resolution No. 80-228, relating to $300,000.00 Certificates of Indebtedness,_
Series 1980; authorizing the issuance and callin4 for the sale thereof for
December 9, 1980
This item was moved to the Consent Calendar (III . I. ).
IX. NLW'BUSINESS
No "New Business".
X. ADJOURNMENT
MOTION: Osterholt moved, seconded by Redpath, to adjourn the Council meeting at
10:50 PM. Motion carried unanimously.
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B I D T A B U L A T I O N
$300,000 Certificates of Indebtedness
City of Eden Prairie, Minnesota
SALE: December 16, 1980
AWARD: BANCNORTHWEST
MOODY'S RATING "A"
ET INTEREST COST
NAME OF BIDDER RATES YEARS & RATE PRICE
BANCNORTHWEST 8.90% 1983-85 $95.675.00 $300,000.00
Cronin & Marcotte, Inc.
Minneapolis, Minnesota 8.90%
DAIN BOSWORTH, INC. 10.20% 1983 $96,189.00 $300,036.00
Minneapolis, Minnesota 9.60% 1984
8.40% 1985 8.9478%
EHLERS AND ASSOCIATES, INC.
Financial Specialists
507 -Marquette Avenue
Minneapolis, Minnesota 55402
Telephone (612) 339-8291
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