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COUNCIL MINUTES October 22, 2012 <br /> APPROVED <br /> 46 <br /> 47 ITEM ACTION <br /> 48 <br /> 49 Consideration of Expenditures: <br /> 50 <br /> 51 October 22, 2012 (Check No. 94429- <br /> 52 94501, $197,312.40) Approved <br /> 53 <br /> 54 Centennial Fire District (Check No. 5539 - 5550 <br /> 55 and 2012009 and 5524 Approved <br /> 56 <br /> 57 October 1, 2012 Council Work Session <br /> 58 Minutes Approved <br /> 59 <br /> 60 October 8, 2012 City Council Meeting <br /> 61 Minutes Approved <br /> 62 <br /> 63 Application for Exempt Permit from Lawful Gambling <br /> 64 License for St. Joseph Catholic Church Approved <br /> 65 <br /> 66 Resolution No. 12-102, Authorizing Certification of <br /> 67 Delinquent Weed and Nuisance Abatement Charges for <br /> 68 collection with the 2012 property taxes payable 2013 Approved <br /> 69 <br /> �- 70 Resolution No. 12-207, Authorizing Certification of <br /> 71 Delinquent Water& Sewer Charges for collection with <br /> 72 the 2012 property taxes payable 2013 Approved <br /> 73 <br /> 74 October 15, 2012 Special Work Session Minutes Approved <br /> 75 <br /> 76 FINANCE DEPARTMENT REPORT <br /> 77 <br /> 78 2A) Resolution No. 12-105,Awarding the Sale of General Obligation Bonds, Series 2012A- <br /> 79 Finance Director Rolek reported that the council previously authorized the issuance of these bonds <br /> 80 that will finance street and signal improvements at Lake/Main and Ware/Birch primarily and also <br /> 81 would refund an existing issue for savings. The bond issue was bid this day and the city's fiscal <br /> 82 consultant, Terri Heaton of Springsted, is present to report on the results of bidding. <br /> 83 <br /> 84 Ms. Heaton reviewed the bid tabulations presented in written form to the council. The low bid of the <br /> 85 six bids received came from United Bankers Bank at 1.26 percent for a ten year bond. The timing for <br /> 86 the sale was excellent since there was great demand and few issuances this week. The savings on the <br /> 87 refunding will increase to approximately $40,000. The reduced cost of issuance will also reduce the <br /> 88 bond amount. The other good news is that the rating agency gave the bonds a solid AA2, reflecting <br /> 89 the city's sound financial operations and reserves. She commended city staff on their full disclosure <br /> 2 <br />