03-11-1996 CC - Laserfiche WebLink

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Page 6 February 12, 1996 Mounds View City Council Mr.Bob Thistle of Springsted,Inc.,explained that the original contract they presented to the council had been modified as per council request. They basically removed the provision on indemnification and added a section that they would comply with the State laws in regard to public documents. MOTION/SECOND: Trude/Quick.to approve the Amended Contract for services relating to continuing disclosure with Springsted,Inc. VOTE: 5 ayes 0 nays Motion Carried D. Consideration of Resolution to Authorize the Sale of Refunding Bonds Series 1 996A. Mr. Thistle explained that an Investment Agency reviewed the city's rating based on the bonds and has reaffirmed an"A"rating which is a very strong rating for a community. He further stated that the bond sale proved to be very interesting and that they received 22 bids on the city's two bond issues. On the first issue (1996A), there was a computed interest savings of slightly over$275,000. Their company would recommend that the council award the low bid to FBS Investment Services. MOTION/SECOND: Trude/Blanchard to Award the bid to FBS Investment Services for the Bond Refunding 411 of Series 1996A. VOTE: 5 ayes 0 nays Motion Carried E. Consideration of Resolution to Authorize the Sale of Refunding Bonds Series 1996B. Mr. Thistle explained that the second issue was a refunding of$810,000. The current interest rate on that issue was 6.72%. It was refinanced at 4.228%,for an estimated savings of$75,000. He stated they would recommend that the bid be awarded to American Bank. MOTION/SECOND: Quick/Blanchard to award the low bid to American Bank. VOTE: 5 ayes 0 nays Motion Carried F. Consideration and Formal Introduction of Ordinance No. 573,Amending the Municipal Code of Mounds View By Amending Chapter 300,Entitled,"Personnel". Ms.Postudensek,Administrative Intern,explained that at the last Council work session,she brought forth an ordinance authorizing the Police Department to use the Criminal Justice Information System to conduct background checks in relation to finalists for employment or volunteer work of those who work directly with children. Without the ordinance in place,the Police Department of Mounds View would need to conduct all background checks through the BCA at a rate of$8.00 per check. Mayor Linke stated he felt for someone who wanted to volunteer their time,the process is a lengthy one for 11111 them to go through,but it is something that is necessary to protect children.