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1 <br />2 <br />3 <br />4 <br />5 <br />6 <br />7 <br />8 <br />9 <br />10 <br />11 <br />12 <br />13 <br />14 <br />15 <br />16 <br />17 <br />18 <br />19 <br />20 <br />21 <br />22 <br />23 <br />•24 <br />25 <br />26 <br />27 <br />28 <br />29 <br />30 <br />31 <br />32 <br />33 <br />34 <br />35 <br />36 <br />37 <br />38 <br />39 <br />40 <br />41 <br />42 <br />43 <br />44 <br />• <br />CITY COUNCIL WORK SESSION <br />DATE <br />TIME STARTED <br />TIME ENDED <br />MEMBERS PRESENT <br />MEMBERS ABSENT <br />DRAFT <br />CITY OF LINO LAKES <br />MINUTES <br />October 22, 2012 <br />: October 22, 2012 <br />. 5:30 p.m. <br />. 6:30 p.m. <br />: Council Member Stoesz, O'Donnell, <br />Rafferty, Roeser and Mayor Reinert <br />: None <br />Staff members present: City Administrator Jeff Karlson; Community Development <br />Director Michael Grochala; Finance Director Al Rolek; Public Safety Director John <br />Swenson; City Engineer Jason Wedel; Economic Development Coordinator Mary Alice <br />Divine; City Attorney Joseph Langel; City Clerk Julie Bartell <br />1. TKDA Supplemental Authorization for Signal Improvements - Community <br />Development Director Grochala recalled that staff came forward in July with a request <br />regarding TKDA services for additional funds beyond the amount of their contract <br />related to the signal projects. He pointed out that the projects have expanded in scope <br />and design work . Staff has worked with Anoka County on the numbers and TKDA has <br />submitted a revised settlement of $97,000 - $44,000 to the County and $52,000 to the <br />city. Mr. Grochala will be presenting a payment request to the council at the work <br />session and council meeting at the beginning of November. <br />Based on questions about the increase, Mr. Grochala explained the involvement of the <br />county on each project and how it has expanded. The council confirmed that the amount <br />requested is still under the amount levied for the projects. <br />2. Review Regular Council Agenda — The council reviewed the entire council agenda; <br />discussion noted on the following items: <br />2A) Resolution No. 105 Awarding the Sale of General Obligation Bonds, Series <br />2012A — Finance Director Rolek introduced the city's bond consultant, Terry Heaton of <br />Springsted. Ms. Heaton distributed to the council the results of the bond bids received in <br />the morning. She noted that the results are very good with the winning bid coming in <br />under estimate. That lower cost of financing will improve the city's savings on the <br />bonds. There was much interest in purchasing the bonds in part due to the city's <br />favorable bond rating. She noted that for this project, staff did a very good job preparing <br />and presenting information to the rating agency for this issuance. <br />Council Member Roeser asked and Ms. Heaton confirmed that the city's portfolio of <br />bonds is being reviewed to ensure that when it is appropriate, savings are sought. <br />