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F 2 <br /> APRIL 1' 14 1993 <br /> PAGE 2 <br /> as proposed at the improvement hearing. Jacobs moved adoption of <br /> Resolution R -93 -20 which carried unanimously. <br /> RESOLUTION R -93 -20 <br /> A RESOLUTION DECLARING COST TO BE ASSESSED AND <br /> ORDERING PREPARATION OF PROPOSED ASSESSMENT FOR <br /> THE 1993 STREET IMPROVEMENT PROJECT <br /> ASSESSMENT HEARING SCHEDULED FOR 1993 STREET IMPROVEMENT PROJECT <br /> Gibson Talbot moved adoption of Resolution R -93 -21 scheduling the <br /> assessment hearing for the proposed 1993 street improvement <br /> project for May 12, 1993 at or about 7:15 p.m. Motion carried <br /> unanimously. <br /> RESOLUTION R -93 -21 <br /> A RESOLUTION SCHEDULING THE HEARING ON THE PROPOSED <br /> ASSESSMENT FOR THE 1993 STREET IMPROVEMENT PROJECT <br /> BID AWARDED FOR $1,075,000 G.O. IMPROVENENT BONDS, SERIES 1993 <br /> Fiscal consultant David Maroney explained that the bids were <br /> opened at 11 :00 a.m., Wednesday, April 14, 1993 and presented the <br /> bids to Council. Maroney recommended awarding the bid to the low <br /> bidder, Piper Jaffray, Inc. at an interest rate of 4.4142 <br /> Gehrz then moved adoption of R -92 -22 which carried unanimously. <br /> RESOLUTION R -93 -22 <br /> A RESOLUTION RELATING TO $1,075,000 GENERAL OBLIGATION <br /> IMPROVEMENT BONDS, SERIES 1993; AWARDING THE SALE, <br /> FIXING THE FORM AND DETAILS AND PROVIDING FOR THE <br /> EXECUTION AND DELIVERY THEREOF AND SECURITY THEREFOR <br /> AND LEVYING AD VALOREM TAXES FOR THE PAYMENT THEREOF <br /> DISCUSSION REGARDING RATE OF INTEREST TO BE CHARGED ON PROPOSED <br /> ASSESSMENT FOR 1993 STREET ASSESSMENT <br /> Hoyt explained that it is necessary that staff have an indication <br /> of the interest rate in order to prepare the assessment roll for <br /> the hearing. A discussion ensued regarding whether or not it was <br /> appropriate to charge 8% as previously discussed in view of the <br /> low interest rate on the bonds for the project. Gehrz abstained <br /> from the discussion as her property is in the assessment area. <br /> Jacobs indicated he did not feel 8% was not unreasonable over a <br /> ten year period. Baldwin commented on the fact that he dislikes <br />