09-17-2013 CCM - Laserfiche WebLink

Home Browse Search

LAKE ELMO CITY COUNCIL MINUTES SEPTEMBER 17, 2013 Page 3 of 4 (Dedrich/Reider) would include approximately 50-60 RECS. Property owners are looking to have the project take place in 2014. In order to make that schedule, City would have to start soon. Not including the proposed developments, about 80 additional properties are potential connections for water service stubs. Mr. Griffin explained the requested action and proposed project schedule. The feasibility report is not to exceed $5,200. Council Member Nelson asked about whether the homes included are located in groundwater contamination plume. Mr. Griffin said they are not. Mayor Pearson asked about shelf-life of report. Mr. Griffin said it may have to be amended to adjust for changes, but that it should survive until it gets built. MOTION: Council Member Bloyer moved TO APPROVE RESOLUTION NO. 2013-77, ORDERING PREPARATION OF A FEASIBILITY REPORT FOR THE LAKE ELMO AVENUE TRUNK WATERMAIN IMPROVEMENTS IN THE NOT TO EXCEED AMOUNT OF $5,200. Council Member Smith seconded the motion. MOTION PASSED 4-0. Mr. Nelson thanked staff for the not to exceed language. ITEM 13: AUTHORIZATION FOR SALE OF $5,725,000 GENERAL OBLIGATION IMPROVEMENT BONDS, SERIES 2013A; RES. 2013-78 Finance Director Bendel introduced Northland Securities’ Paul Donna. Mr. Donna gave kudos to the City for its bond rating. Moody’s noted that both the content and style of presentation were excellent. Off the record comments were that the presentation was the one of the best they have seen. Mr. Donna provided overview of the bond sale and repayment scenario. It was stated that Lake Elmo has a good name in the market place. He noted that two local banks were responsible for about 15% of participation, which is good to keep interest rates low. Council Member Nelson asked about the lower par amount. Mr. Donna explained that buyers use it as a protection. The city can capture the higher premium paid to reduce the borrowing. MOTION: Council Member Nelson moved TO APPROVE RESOLUTION 2013-78, A RESOLULTION AUTHORIZING ISSUANCE AND AWARDING THE SALE, PRESCRIBING THE FORM AND DETAILS, AND PROVIDING FOR THE PAYMENT OF THE $5,725,000 GENERAL OBLIGATION IMPROVEMENT BONDS, SERIES 2013A. Council Member Bloyer seconded the motion. MOTION PASSED 4-0. ITEM 14: SUNFISH LAKE PARK DEER MITIGATION HUNT City Administrator Zuleger presented a summary of the proposed Sunfish lake Park deer mitigation hunt. Many residents have suffered damage due to the large deer population in Lake Elmo. At the recommendation of Washington County and MNDNR management hunts will take place in Sunfish Lake Park and Lake Elmo Regional Park Reserve. The hunt would take place on November 9 and 10. The hunt will be a shotgun hunt. Council Member Bloyer asked about the count of 8 deer and how it was arrived at. Mr. Zuleger said that initially there was a request for 10, but due to the proximity to Tapestry, it was decided to reduce it to 8. Mr. Zuleger noted there also might be a coyote problem in the park reserve. MOTION: Council Member Smith moved TO APPROVE THE SUNFISH LAKE PARK DEER MITIGATION HUNT SCHEDULED FOR NOVEMBER 9TH AND 10TH USING A TAXPAYER LOTTERY TO CHOOSE