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<br /> MINUTES <br /> CITY COUNCIL <br /> <br /> NOVEMBER 9, 2009 <br /> Mr. Keis introduced the following resolution and moved its adoption: <br /> RESOLUTIONNO. 2009-1I-267-APPROVING THE <br /> COMPREHENSIVE SICN PLAN FOR DOCK 86, 3201 COUNTRY <br /> DRIVE, SUBJECT TO COMPLIANCE WITHALL APPLICABLE <br /> RECOMMENDATIONS ASOUTLINED IN RESOL UTION NO. 2009- <br /> II-266 <br /> The foregoing resolution was duly seconded by McGraw. <br /> Ayes (4). <br /> Nays (0). Resolution declared adopted. <br /> Mr. Blesener introduced the following resolution and moved its adoption: <br /> RESOLUTION NO. 2009-11-268 - APPROVINGARCHITECTURAL <br /> REVIEW FOR DOCK 86, 3201 COUNTRYDRIVE, SUBJECT TO <br /> COMPLIANCE WITHALL APPLICABLE RECOMMENDATIONS <br /> AS OUTLINED IN RESOLUTION NO. 2009-.I1-266 <br /> The foregoing resolution was duly seconded by McGraw. <br /> Ayes (4). <br /> Nays (0). Resolution declared adopted. <br /> BOND Todd Hagen, Ehlers & Associates, appeared before the Council to report <br /> SALE on the results of the sale of $2,220,000 Taxable General Obligation <br /> Housing Improvement Area Bonds, Series 2009 A. The purpose of these <br /> bonds is to finance the construction of various exterior and common area <br /> improvements to the Canabury Square Condominiums in the Canabury <br /> Square Housing Improvement Area of the City. Hagen reported that part <br /> of the bond sale process included a rating review by Standard & Poor's. <br /> The results of that review was the City's improved bond rating to a "AA". <br /> Hagen congratulated the Mayor, Council Members, and City staff on this <br /> improved rating. He noted that the higher the City's rating the lower its <br /> interest costs. <br /> The City Administrator reviewed the history of the City's bond rating over <br /> the years, which has substantially improved. The Administrator felt that <br /> the "AA" rating that the City has just received is likely the highest rating <br /> that would be available given the size of the City and other constraints. <br /> Hagen agreed and noted that maintaining a "AA" rating would be an <br /> accomplishment in itself. The Administrator and Hagen both reviewed the <br /> various factors that to into determining a city's bond rating which include <br /> its location to the metro economy, the wealth and income indicators of the <br /> City and its citizens, the City's maintenance of strong financial reserves, <br /> 9 <br /> <br />