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<br />RENEWAL APPROVAL <br /> <br />ACTING CITY CLERK APPOillNTMENT <br /> <br />APPOINTMENT - CLEO MUDROCK <br /> <br />AUDIENCE COMMENTS <br /> <br />CITY ATTORNEY'S REPORT <br />ORDINANCE #712 INDUSTRIAL REVENUE <br />BONDS - REGAL INVESTMENT CO. <br />2ND READING <br /> <br />COUNCIL ~ - COUNCILMAN MEIER <br /> <br />COUNCILMAN CARNIVAL <br /> <br />2/17/81 <br /> <br />Page - 2 - <br /> <br />Councilman DelPizzo moved that the <br />Track Inn liquor license be renewed. <br />Seconded by Councilman Domenico. <br />Question called for. All in favor <br />Motion carried. 6-0. <br />Mayor Pro-tern Fauson reminded <br />Council that City Clerk Stahl had <br />resigned effective February 20, 1981 <br />and suggested Cleo Mudrock be appointed <br />as Acting City Clerk. <br />Councilnan Carnival moved that Cleo <br />Mudrock be appointed Acting City <br />Clerk. Seconded by Councilman <br />Meier. Question called for. All <br />in favor. Motion carried 6-0. <br /> <br />None. <br /> <br />Attorney Joss presented copies of <br />an amendment to Ordinance 1/:712 to <br />all council members and advised that <br />the original ordinance was passed <br />on first reading on January 6, 1981. <br />He read the ordinance by title only. <br />Attorney Joss then advised Council <br />the first amendment pertained to <br />issuance of the bonds amounting to <br />$360,000 - authorization was being <br />made by the developers to increase <br />this amount to $375,000. The second <br />amendment pertained to the interest <br />rate of the bond in the event the <br />IRS changed the tax free provision <br />and the third amendment also pertained <br />to a change of interest rate should <br />the IRS made an adverse ruling. <br /> <br />Inquired of Attorney Joss if the issu- <br />ance of industrial revenue bonds had <br />ever been tested in the courts as to <br />legality. <br />Attorney Joss stated it was his opinion <br />that perhaps it had been tested in <br />court, but there was no question as <br />to legality since this is authorized <br />by State Statutes. <br /> <br />Inquired of Chuck Bellock, the developer, <br />if the project was still on schedule <br />with construction - spring of '81. <br />