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.. ~:+ <br />MINUTES <br />SPECIAL CITY COUNCIL MEETING <br />NOVEMBER 5, 1984 <br />A special meeting of the Falcon Heights City Council was called to order <br />at 7:00 P.M. by Mayor Eggert. <br />Mayor Eggert, Councilmembers Baldwin, Hard, Chestovich and Ciernia. Also PRESENT <br />present were Clerk Administrator Barnes, Attorney Ippel, and Fiscal Con- <br />sultant Afelbacher. <br />None. <br />Mayor Eggert informed that the Bullseye Golf, Inc. closing took place <br />on October 31, 1984 as planned. <br />Fiscal Consultant Afelbacher presented the bids on the $600,000 General <br />Obligation Tax Increment Bonds as follows: (1) Cronin & Marcotte, Inc., <br />9.9433%, (2) Dain Bosworth, Inc., 9.85533%, (3) Piper, Jaffray & Hopwood, <br />Inc., 9.7677%, (4) First National Bank of St. Paul/First National Bank <br />of Minneapolis, 9.7521%, (5) American National Bank and Trust Co., 9.7972%, <br />(6) Paine, Webber, Jackson & Curtis, Inc., 9.79936%, and recommended that <br />Council accept the low bid from First National St. Paul/First National <br />Minneapolis. <br />Attorney Ippel presented a letter from Robert Collins, representing <br />Bullseye Golf, assuring that the construction plans for the Bullseye <br />project has not been altered since last approved by the City Council. <br />For this reason Attorney Ippel advised that it is now appropriate to <br />approve the bond sale. She then explained the manner in which the funds <br />wi11_ be handled and dispersed. Clerk Administrator Barnes expressed <br />concern that the funds are being handled by someone other than the <br />City Treasurer and wanted to be assured that he is cleared as Treasurer. <br />The Attorney stated that the City is merely a conduit, and will draft a <br />letter explaining the use of the funds. <br />Council briefly discussed appointment of a Bond Registrar, after which <br />it was decided to appoint First National Bank of Minneapolis. <br />After reviewing Resolution 84-39 Councilmember Hard moved, seconded by <br />Mayor Eggert, that the Resolution be adopted awarding the bid to <br />First National St. Paul/First National Minneapolis, and designating <br />First National Minneapolis as Bond Registrar. Motion carried unanimously. <br />RESOLUTION 84-39 <br />A RESOLUTION ACCEPTING BID ON SALE OF $600,000 <br />GENERAL OBLIGATION TAX INCREMENT BONDS OF 1984, <br />SERIES B AND PROVIDING FOR THEIR ISSUANCE <br />Councilmember Ciernia moved, seconded by Mayor Eggert, that the meeting <br />be adjourned at 7:27 P.M. Motion carried unanimously. <br />ABSENT <br />BID OPENING <br />FOR $600,000 <br />TIF BONDS <br />OF 1984 <br />BULLSEYE <br />UPDATE <br />RESOLUTION <br />84-39 <br />ADJOURNMENT <br />