05-24-2021 Council Packet - Laserfiche WebLink

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COUNCIL MINUTES DRAFT 2 introduced the City’s financial advisor Terri Heaton, Baker Tilly, to review the bond issuance 42 details. 43 Ms. Heaton reviewed the request, the amount, and the purpose. The sale would occur on June 14, 44 2021 and the results would be provided to the City that evening. The bonds are a ten year fund, 45 payments are about 194,000 annually for repayment. The interest is 1.35% (at this time); a low bid 46 on the date of the sale actually determines the rate. They did look at other issuances to consider 47 refunding and are holding off based on the possibility of impacting legislation. The bond rating is 48 AA+ although there will be another rating of the bonds through this process. 49 Mayor Rafferty remarked that the council has supported moving the street projects forward and is 50 looking for the best possible rate to fund the work. 51 Councilmember Stoesz asked if rates change, can the bidder change anything? Ms. Heaton said 52 typically there are multiple bids, there is a council acceptance proces and there is normally no 53 change. 54 The council discussed the City’s credit rating and possibilites for improvement or of being 55 downgraded. Ms. Heaton explained that she doesn’t anticipate a change at this time. 56 Councilmember Stoesz moved to approve Resolution No. 20-43 as presented. Councilmember 57 Ruhland seconded the motion. Motion carried on a voice vote. 58 ADMINISTRATION DEPARTMENT REPORT 59 3A) Consider Appointment of Police Officer – Public Safety Director Swenson reviewed the 60 written recommendation to hire Daniel Swenson to an open police officer position with the City. If 61 hired, he would begin on June 1, 2021. Mr. Swenson noted Candidate Swenson’s experience and 62 the recommendation to start him at salary Step 4. 63 Councilmember Lyden moved to approve the appointment of Daniel Swenson as recommended. 64 Councilmember Stoesz seconded the motion. Motion carried on a voice vote. 65 PUBLIC SAFETY DEPARTMENT REPORT 66 4A) Consider Converting Seized Property to City Property for City Use – Public Safety 67 Director Swenson explained that the staff report denotes the items they are proposing to convert. 68 All items have gone through the statutory requirements for converting seized property. 69 Councilmember Cavegn moved to approve the conversion of property as recommended by staff. 70 Councilmember Ruhland seconded the motion. Motion carried on a voice vote. 71 4B) Consider Donation of Seized Property – Public Safety Director Swenson explained that 72 staff is requesting authority to donate certain seized property. In the past the department has 73 utilized a service and it has not been the best result. In lieu they recommend that these items be 74 donated to Family Pathways, a non-profit, to be sold in their thrift store. 75 Councilmember Stoesz discussed the possibility of storing some items off site but Director Swenson 76 explained why that would not work (chain of custody issues). 77 Councilmember Ruhland moved to approve the donation of property as recommended by staff. 78 Councilmember Lyden seconded the motion. Motion carried on a voice vote. 79 PUBLIC SERVICES DEPARTMENT REPORT 80 There was no report from the Public Services Department. 81