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A brief discussion ensued regarding the escalating costs of employee benefits. It was <br /> determined that the Town's costs are consistent with industry trends and increases are due <br /> to the rising costs in health and retirement benefits. <br /> Revenue sources were discussed. Council directed staff to prepare reports on traffic <br /> impact fees and 911 fees and forward them to Council for review at a future date. <br /> Council and the Committee discussed the available options for paying for the new Town <br /> Hall. It was determined that with the recent escalation of interest rates, it would be <br /> advantageous for Council to make a decision regarding borrowing funds for the project. <br /> Council will agendize this issue for consideration at the July 15, 2004 City Council <br /> meeting. They requested input from the Finance and Investment Committee. <br /> The Finance and Investment Committee reported that they have discussed the possibility <br /> of an exchange of Town owned property for the Bullis School site. City Attorney Steve <br /> Mattas advised that it would be appropriate to agendize any further discussion of this <br /> concept to a future meeting. Lalla Stark, Finance and Investment Chairman, offered to <br /> approach the School District and will report out to Council at the July 15, 2004 City <br /> Council Meeting. <br /> 3. PRESENTATIONS FROM THE FLOOR <br /> 4. ADJOURNMENT <br /> The City Council Special Meeting was adjourned at 6:00 pm. <br /> Respectfully submitted, <br /> Karen Jost <br /> City Clerk <br /> The minutes of the June 2, 2004 Special City Council Meeting were approved at the June <br /> 16, 2004 Special City Council Meeting. <br />