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573 The next regular scheduled meeting of the Mooresville Town Council will be Tuesday, December 3, 2002, at 6:30 P. M. at the Mooresville Town Hall. President, Tom Warthen ATTEST: Sandra R. Perry, Clerk- Treasurer December 3, 2002 The Mooresville Town Council met in regular session on Tuesday, December 3, 2002, at 6:30 P. M. at the Mooresville Town Hall. Council members present were: President Tom Warthen, Andy Pygman, John L. Clark, Toby Dolen, and Mark Mathis. No members were absent. Town attorney Tim Currens was present. Mr. Malbone of the Mooresville Church of God gave the invocation. Motion was made by Councilman Clark, second by Councilman Dolen to approve the minutes of the November 19, 2002 meeting. Motion carved 5 -0. President Warthen explained to the council that the Redevelopment Commission, at this _ time, recommended to the Town Council not to request a tax increment replacement levy since the debt commitments do not exceed the revenue. The TIF areas debt to rate coverage is 472 % for TIF 2 and 172% for TIF 1. Motion was made by Councilman Mathis, second by Councilman Clark to approve Resolution #12, 2002, rescinding the tax increment financing replacement levy for the year 2003. Motion carried 5 -0. Motion was made by Councilman Clark, second by Councilman Dolen to approve Resolution #13, 2002, a Transfer of Funds. Motion carried 5 -0. The Town Council signed Ordinance #8, 2002, rezoning property owned by Richard A. Jones, Valley Motors, to I -1. Town attorney Tim Currens announced the meeting to set the wage scale will be held December 12, 2002. After that meeting the council will be in position to accept bids for the roof. Councilman Pygman told the Town Council he thought the stop light at South Street and South Indiana on the South Street side when it was green turned too fast. Joe Beikman, Street Superintendent, told the council the green light was tripped to to go at 7 seconds and if a car is sitting on the loop it will go back to red in 7 seconds. Councilman Pygman said he was following up on a complaint from -a town resident. President Warthen asked Mr. Beikman if he could have H. E. Henderson reset the light to 17 seconds. Mr. Beikman said he could but it would back up traffic on South Indiana Street to High Street at times. Town attorney Tim Currens suggested a study be done first before resetting the light. Councilman Pygman will have a definite answer at the December 17, 2002, meeting. President Warthen announced he had received a letter from ISO concerning Fire Suppression Delivery. The Mooresville Fire Department was at a 5 rating with 1 being the best and they had been told they could drop to a 6 rating. The Fire Department