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<br />Ms. Smith moved, seconded by Mr. Lieuallen, to adopt the <br />resolution. Roll call vote. Motion carried unanimously. <br /> <br />e <br /> <br />III. PUBLIC HEARINGS <br /> <br />A. New Liquor License Outlet: Butcher Block Delicatessen (Retail Malt <br />Beverage); Located 1858 East 13th Avenue; Applicants: Patrick and <br />Roxanne Tancredi <br /> <br />Manager indicated all was in order for this new liquor license request. <br />It has been checked by the City departments. <br /> <br />Public hearing was held with no testimony presented. <br /> <br />Ms. Smith moved, seconded by Mr. Lieuallen, to forward the <br />request to OLCC with recommendation for approval, subject to <br />conditions, if any. Motion carried unanimously. <br /> <br />B. New Liquor License Outlet: Friendly.s Market (Package Store License); <br />located 2749 Friendly; Applicants: Kenneth Barr and Terry Potash <br /> <br />Manager introduced the request and said all was in order; it had been <br />reviewed by staff. <br /> <br />e <br /> <br />Public hearing was held with no testimony presented. <br /> <br />Ms. Smith moved, seconded by Mr. Lieuallen, to forward to <br />OLCC with recommendations for approval, subject to conditions, <br />if any. Motion carried unanimously. <br /> <br />IV. <br /> <br />BANCROFT POLICIES (Memo distributed) <br /> <br />Manager explained that with this ordinance, instead of a maximum of seven <br />percent interest, the City can charge whatever the State law allows, ten <br />percent currently. Mr. Long added that there is currently an investiga- <br />tion under way to determine if the interest rate could be raised to 12 <br />percent. Manager read the provision in the proposed ordinance allowing <br />for reduction in rates as determined by the City Manager. Mr. Long <br />explained the council.s desire was not to make a profit, but not to <br />subsidize development either. The interest charge will be adjusted to <br />cover the cost plus the City.s administrative charge, but not to exceed <br />that allowed by law. There were four categories of projects originally <br />disGussed. The first category could not be changed to the higher rate. <br />The higher interest rate could be attached to other categories. The next <br />bond sale will be June 10. It will require a subsidy for administrative <br />costs, and possibly more. <br /> <br />e <br /> <br />4/30/79--3 <br />