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City Council minutes <br />-2- January 26, 1976 <br />Edward Paster of Mounds View Shopping Center stated that he <br />thought the new City Hall looked terrific and said that he <br />realized the Council was interested in making sure we use the <br />name Mounds View as two separate words. This is difficult for <br />them as their graphics are already completed. They are attempting <br />to create an interesting and creative approach to their shopping . <br />center and would like to be able to use the letters in all lower <br />case without any separation. Mayor Johnson inquired if the reason <br />was because they didn't have enough room to make it two words? <br />Mr. Paster answered that it breaks up the continuity and they are <br />at the edge of their borders. The Council was polled: <br />Councilman Hodges: Would really like to see it two words but <br />would go along with it the way it is. <br />Councilman Baumgartner abstained because his wife was involved <br />in making it two words. However, he felt it should be two words also. <br />Councilman Pickar: Although I feel it should be two words we <br />probably don't have much jurisdiction as far as names are <br />concerned. I would support it. <br />Howard Beaver stated that he had spoken to Barbara Haake and told <br />her that they had decided to go into color graphics, and at any <br />distance at all you can only see the color. People do not go down <br />the highway and read -- and that they have already gone to much <br />expense. <br />Councilman Shelquist said that we have been assured that it would <br />be two words and if we go to one we would be renaming it in <br />everyone's mind. I would prefer to see it as two words. <br />Mayor Johnson stated that it is resolved that Mounds View shall <br />be two words. If you are going to spend that much money you <br />might as well do it right. The concensus is 3 to 2 that the sign <br />should be two words. Suggestions were made as to what could be <br />done, i.e. "M" & "V" be in the upper case; changing the color <br />of the letters "M ", "V ", & "S "., etc. <br />Seegar Swanson of Ehlers & Associates discussed the matter of <br />the Advance Refunding Bond Sale with the Council. The resolution <br />permits the Council to meet again on February 12 to consider <br />bids. They can then be accepted or rejected. Five days before <br />the bid opening they will recommend interest rates and pricing <br />information. This would require a special meeting. <br />Mayor Johnson stated that Attorney Meyers asked what happens to <br />the bonds currently outstanding and Mr. Swanson replied that the <br />people will be notified that they should turn them in. The <br />proceeds from the sale of the new bonds are used to purchase <br />government issues to pay back the bond holders until the call <br />date of the refunded issue. If there are any more bonds issued <br />during this quarter there maybe some effect, but beyond that no <br />problem. <br />Mayor Johnson explained that the purpose of refunding an issue is <br />to reissue new bonds now at a rate less than the original bond issue. <br />