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02-12-1996
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02-12-1996
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• Page 6 <br />February 12, 1996 <br />Mounds View City Council <br />Mr. Bob Thistle of Springsted, Inc., explained that the original contract they presented to the council had been <br />modified as per council request. They basically removed the provision on indemnification and added a section <br />that they would comply with the State laws in regard to public documents. <br />MOTION/SECOND: Trude/Quick to approve the Amended Contract for services relating to continuing <br />disclosure with Springsted, Inc. <br />VOTE: 5 ayes 0 nays Motion Carved <br />D. Consideration of Resolution to Authorize the Sale of Refunding Bonds Series 1996A. <br />Mr. Thistle explained that an Investment Agency reviewed the city's rating based on the bonds and has <br />reaffirmed an "A" rating which is a very strong rating for a community. He further stated that the bond sale <br />proved to be very interesting and that they received 22 bids on the city's two bond issues. On the first issue <br />(1996A), there was a computed interest savings of slightly over $275,000. Their company would <br />recommend that the council award the low bid to FBS Investment Services. <br />MOTION/SECOND: TrudeBlanchard to Award the bid to FBS Investment Services for the Bond Refunding <br />of Series 1996A. <br />VOTE: 5 ayes 0 nays Motion Carried <br />E. Consideration of Resolution to Authorize the Sale of Refunding Bonds Series 19968. <br />Mr. Thistle explained that the second issue was a refunding of $810,000. The current interest rate on that <br />issue was 6.72%. It was refinanced at 4.228%, for an estimated savings of $75,000. He stated they would <br />recommend that the bid be awarded to American Bank. <br />MOTION/SECOND: QuickBlanchard to award the low bid to American Bank. <br />VOTE: 5 ayes 0 nays Motion Carried <br />F. Consideration and Formal Introduction of Ordinance No, 573, Amending the Municipal Code of <br />Mounds View By Amending Chapter 300, Entitled, "Personnel". <br />Ms. Postudensek, Administrative Intern, explained that at the last Council work session, she brought forth an <br />ordinance authorizing the Police Department to use the Criminal Justice Information System to conduct <br />background checks in relation to finalists for employment or volunteer work of those who work directly with <br />children. Without the ordinance in place, the Police Department of Mounds View would need to conduct all <br />background checks through the BCA at a rate of $8.00 per check. <br />Mayor Linke stated he felt for someone who wanted to volunteer their time, the process is a lengthy one for <br />them to go through, but it is something that is necessary to protect children. <br />
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