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<br /> MINUTES <br /> <br /> CITY COUNCIL <br /> OCTOBER 28, 2009 <br /> RESOLUTION NO. 2009-10-262 -REJECTING THE BID FOR THE <br /> LITTLE CANADA ROAD BRIDGE RAIL AND PARAPET PAINTING <br /> PROJECTS SINCE ONLY ONE BID WAS RECEIVED AND THE <br /> CITY COUNCIL NEEDS ADDITIONAL BIDS TO ENSURE IT IS <br /> RECEIVING A COMPETITIVE PRICE FOR THIS WORK, AND <br /> WITH THE UNDERSTANDING THAT THE PROJECT WILL BE <br /> REBID IN THE SPRING <br /> The foregoing resolution was duly seconded by Boss. <br /> Ayes (5). <br /> Nays(0). Resolution declared adopted. <br /> REDUCE The City Administrator reviewed the Finance Director's report dated <br /> BOND SALE October 23, 2009 recommending that the refunding of the 1999B TIF <br /> AMOUN'C & Bonds be eliminated from the current bond offering. These "I•IF Bonds <br /> REFUND 1999B are callable in February of 2010, and staff is recommending the use of an <br /> TIF BONDS interfund loan from the Water-Sewer Capital Replacement Fund to cover <br /> the funds needed to retire the bonds. <br /> The Administrator indicated that eliminating refunding of the TIF Bonds <br /> from the bond sale will reduce the bond amount from $2.55 million to <br /> $2.365 million. The Administrator also indicated that the reallocation of <br /> low-interest County money from the Fleur Royale HIA project to the <br /> Canabury Square HIA project will also reduce the bond amount to $2.24 <br /> million. <br /> Mr. Keis introduced the following resolution and moved its adoption: <br /> RESOLUTIONNO. 2009-10-263 -ELIMINATING THE <br /> REFUNDING OF THE 19998 TIF BONDS FROM THE BOND SALE <br /> AMOUNT AND AUTIIORIZING THE USE OFAN INTERFUND <br /> LOAN FROM THE WATER-SEWER CAPITAL REPLACEMENT <br /> FUND TO COVER THE FUNDS NEEDED TO RETIRE THE TIF <br /> FUNDS <br /> The foregoing resolution was duly seconded by Montour. <br /> Ayes (5). <br /> Nays (0). Resolution declared adopted. <br /> QUEBEC Keis asked about correspondence from Representative Scalze relative to <br /> SOUND a freeway sound wall in front of the Quebec Apartments on Country <br /> WALL Drive. The City Administrator indicated that this will be an upcoming <br /> agenda topic for the Council once he obtains full details. However, it is <br /> his understanding that MN DOT has a salvage wall that could be installed <br /> in front of the Quebec Apartments at the City's cost (estimated to be <br /> 15 <br /> <br />