CC Minutes 2001 03 21CHANHASSEN CITY COUNCIL
SPECIAL MEETING
MARCH 21, 2001
Mayor Jansen called the meeting to order at 6:50 p.m.
COUNCIL MEMBERS PRESENT: Mayor Jansen, Councilman Ayotte, and Councilman Peterson
COUNCIL MEMBERS ABSENT: Councilman Labatt and Councilman Kroskin
STAFF PRESENT: Todd Gerhardt
CONSIDER APPROVAL OF PROMISSORY NOTE BETWEEN THE EDA AND THE CITY.
Mayor Jansen: Do I have a separate document in here I should be referring to?
Todd Gerhardt: No. It's the same promissory note that was in the EDA packet with the modified language
that I handed out. Get it right at least on one body here.
Mayor Jansen: So I'm looking for a motion to approve a Promissory Note between the EDA and the City
of Chanhassen in the amount of $865,000 with the proceeds used to pay off the first mortgage and
delinquent and current taxes. And the City of Chanhassen reserves the right to require full payment of the
total outstanding balance due at any time during the term upon 90 days written notice. Motion please.
Peterson: So moved.
Mayor Jansen: A second.
Councilman Ayotte: Second.
Councilman Peterson moved, Councilman Ayotte seconded that the City Council approve a
Promissory Note between the EDA and the City of Chanhassen in the amount of $865,000 with the
proceeds used to pay off the first mortgage and delinquent and current taxes. The City of
Chanhassen reserves the right to require full payment of the total outstanding balance due at any time
during the term upon 90 days written notice. All voted in favor and the motion carried unanimously
3to0.
Mayor Jansen adjourned the City Council meeting at 6:55 p.m.
Submitted by Todd Gerhardt
Assistant City Manager
Prepared by Nann Opheim