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MINUTES <br />CITY COUNCIL <br />MAY 11, 2015 <br />2008 GO <br />BONDS <br />AMEND <br />SANITARY <br />SEWER <br />ORDINANCE <br />Improvement Bonds. The TIF portion is associated with the St. Jude <br />Medical project. The Administrator noted that the bond issue is callable <br />February 1, 2016, but given that rates have dropped, refunding could save <br />approximately $75,000 to $80,000. The Administrator noted that the rates <br />had been slightly lower and have risen recently. He asked that the Council <br />authorize the refunding at this time, with Ehlers Associates to monitor the <br />market and proceed with the refunding when they determine it to be most <br />advantageous. The Administrator noted that given only the TIF portion <br />would be refunded, the savings would accrue to St. Jude Medical, but he <br />indicated that refunding would be a prudent way to handle this matter. He <br />also indicated that when the bonds are callable, the City would pay off the <br />improvement portion of the bond issue with funds on hand. <br />Fischer introduced the following resolution and moved its adoption: <br />RESOLUTION NO. 2015-5-91— AUTHORIZING THE SALE OF <br />$1,365,000 GENERAL OBLIGATION REFUNDING BONDS, SERIES <br />2015A, THE TIMING OF WHICH TO BE DETERMINED BY <br />EHLERS AND ASSOCIATES <br />The foregoing resolution was duly seconded by Keis. <br />Ayes (4). <br />Nays (0). Resolution declared adopted. <br />The Public Works Superintendent reported that the MN Pollution Control <br />Agency (MPCA) has revised its standards for Individual Sewage <br />Treatment Systems (ISTS) and is asking governing authorities in the state <br />to update their ordinances to comply with the new standards. The <br />Superintendent reported that in most cases cities cede the regulation and <br />enforcement of these regulations to the county. However, Ramsey County <br />is exempt from having to do this. Therefore, Little Canada must update its <br />ISTS ordinance to comply with the new standards. The Superintendent <br />reported that Little Canada has 17 ISTSs, 12 being residential and 5 <br />commercial. Two of the commercial ISTSs are owned by the City and not <br />being used. <br />The Superintendent reported that the ordinance amendment proposed <br />follows the MPCA's model ordinance. The Superintendent reported that <br />some housekeeping changes are also proposed. <br />Keis introduced the following resolution and moved its adoption: <br />15 <br />