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MINUTES CITY COUNCIL NOVEMBER 13, 1991 RESOLUTION N0. 91-11-377 - APPROVING THE MINUTES OF THE OCTOBER 23, 1991 REGULAR COUNCIL MEETING AS AMENDED The foregoing resolution was duly seconded by Blesener. Ayes (5) Collova, Blesener, Scalze, LaValle, Hanson. Nays (0). Resolution declared adopted Mr. LaValle introduced the following resolution and moved its adoption: RESOLUTION NO. 91-11-378 - APPROVING THE MINUTES OF THE OCTOBER 29, 1991 SPECIAL COUNCIL MEETING AS SUBMITTED The foregoing resolution was duly seconded by Blesener. Ayes (5) LaValle, Blesener, Collova, Scalze, Hanson. Nays (0). Resolution declared adopted. ANNOUNCE- Blesener announced that Eric Ross, a Junior at St. MENTS Bernard's High School and a former participant in the City's recreation program, was named to the All-State Soccer Team. CALL FOR Brad Farnham, Springsted, reported that the Council SALE OF held a workshop meeting on october 17th to review BONDS Springsted's debt analysis study for the City. Farnham reported that the debt analysis involved looking at the City's outstanding debt levies to see if there was a better way to reorganize and shorten up some of the debt, and give Council maximum flexibility in dealing with future debt. As a result of that study, it was the consensus of the Council to call two bond issues early and to refund existing storm sewer bonds, as well as issue a new bond to cover the cost of the DeSoto Street improvement. The City Administrator explained that the new issue covering the DeSoto Street improvement is proposed at $325,000. That amount is lower than actual costs because the City has covered the cost of a valve it needed and which was installed as part of the improvement. The Administrator reported that those assessments for Desoto Street which were deferred at the assessment hearing are not covered in the issue. Page 2