10/28/2002 Council Minutes - Laserfiche WebLink

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COUNCIL MINUTES OCTOBER 28, 2002 • OPEN MIKE VFW Auxiliary to Present American Flags to City for Display at Voting Precincts on Election Day and to Centennial Fire Station #2 — Gladys Broker, Chair of the VFW Auxiliary, introduced VFW Auxiliary President Charlene Sanford and VFW Auxiliary Member Marie Waldhauser. She then presented Fire Chief Bennett with three U.S. American flags and City Clerk Blair with the POW/Missing in Action Flag. Ms. Broker also encouraged all to get out and vote on election day. • • Fire Chief Bennett thanked the VFW Auxiliary and stated Flags are flying in front of all three Fire Stations and have been provided by the VFW Auxiliary. Invitation to City Council to Attend American Heroes Day at Rice Lake Elementary School, November 4, 2002, Martha Walmsley — Ms. Walmsley extended an invitation to the City Council to attend the American Heroes Day at the Rice Creek Elementary School. This event will take place on November 4, 2002 from 10:00 a.m. to 2:00 p.m. She reviewed her wort with the school to provide two patriotic events for all students. She stated these events have been very meaningful to a lot of students. Mayor Bergeson thanked Ms. Walmsley for this invitation. Discuss Drainage Issues, Douglas Malstrom — Thi--itm was not addressed. Springsted Presentation, Recognition of Bond Rating Upgrade, Al Rolek — Finance Director Rolek introduced David MacGillvrey, Springsted resident, Jerry Shannon, and Tem Heaton who were in attendance to make a presentation to Lino Lakes for upgrading its bond rating for the bonds sold in July of this year. David MacGillvrey stated upgrades do not happen that often and are a testament as to the achievements of the Mayor,: Council, and staff for their work. He noted that in June the City was upgraded to A2 based on the City's growth 'economic developments and diversified development. He stated that he started his early carer working with Lino Lakes and knows this is an achievement. Mr. MacGillvrey reviewed the ower aspects considered when a bond rating is upgraded. Mr. MacGillvrey advised that Jerry Shannon is leaving the firm so Terri Heaton has been working with the City's staff. He stated that Terry brings a wealth of experience and was Chief Financial Manager for City of Bloomington prior to coming to Springsted. Jerry Shannon stated this is the second time he has had the privilege to come before the Council and make a presentation of a rating upgrade. The last time was when bonds were sold to finance the Civic Center when, at the dedication ceremony, the City received an upgrade from BAA1 to A3 from Moody's Investor Service. Mr. Shannon stated he is now pleased to present an upgrade from A3 to A2. He advised that Al is a good thing to strive for and there is work involved to get there. Mr. Shannon stated that an A2 rating after just four years is to the City's credit. Mr. Shannon presented a framed certificate of upgrade to the Mayor. 2