10/23/2006 Council Minutes (2) - Laserfiche WebLink

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COUNCIL MINUTES OCTOBER 23, 2006 APPROVED •1 2 Resolution No. 06-171, Approving Final Pay 3 Request, 2005 Surface Water Management Project Approved 4 5 Resolution No. 06-173,Accepting Donation from Turtle 6 Triathlon in the Amount of $5,600 Approved 7 8 FINANCE DEPARTMENT REPORT, AL ROLEK 9 10 Consideration of Resolution No. 06-175, Awarding the Sale of $3,025,000 General Obligation 11 Capital Improvement Plan Refunding Bonds, Series 2006E, Al Rolek — Finance Director Rolek 12 advised on September 25, 2006, the City Council approved Resolution No. 06-147 calling for the 13 issuance of $3,025,000 G.O. Capital Improvement Plan Bonds to finance acquisition of the City Hall 14 and Police Department portions of the Civic Center Complex from the Lino Lakes EDA. 15 16 Consideration of Resolution No. 06-176, Awarding the Sale of $1,745,000 General Obligation 17 water Revenue Refunding Bonds, Series 2006F, Al Rolek — Finance Director Rolek advised on 18 September 25, 2006, the City Council approved Resolution No. 06-148 calling for the issuance of 19 $1,745,000 G.O. Water Revenue Refunding Bonds to refinance the outstanding balance of the G.O. 20 Water Revenue Bonds 1996B. 21 • 22 Finance Director Rolek stated bids for these issues were received earlier today and Terri Heaton of 23 Springsted is here to present the results of the bidding process. 24 25 Ms Tern Heaton, Springsted, came forward and reviewed the bids for both of the bonds noting the 26 low bidders. Based on the bids, the City will save more dollars than originally anticipated. 27 28 Council Member Carlson moved to approve Resolution No. 06-175, as presented. Council Member 29 O'Donnell seconded the motion. Motion carried unanimously. 30 31 Council Member Reinert moved to approve Resolution No. 06-176, as presented. Council Member 32 Stoltz seconded the motion. Motion carried unanimously. 33 34 Ms. Heaton presented the City with a plaque commemorating the City's recent upgrade in its bond 35 rating. She outlined what the upgrade means to the City in terms of tax savings to citizens. The 36 upgrade saved the City approximately $60,000 just this past year. She read Moody's report relating to 37 the City and its upgrade. She congratulated the City as well as City staff on the City's rapid upgrades 38 in bond ratings. 39 40 ADMINISTRATION DEPARTMENT REPORT, DAN TESCH 41 42 Hire Terina Peterson as Part -Time CSO — City Administrator Heitke advised the promotion of 43 William Owens to the position of police officer has left a vacancy in the Community Service Officer 044 (CSO) program. Terina Peterson has been acting on a temporary basis as CSO for approximately six 45 months. It is staff's recommendation to offer this part-time position to Ms. Peterson. 3