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03-28-1994
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03-28-1994
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MV City Council
City Council Document Type
City Council Minutes
Date
3/28/1994
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Mounds View City Council Page Six <br /> 0 Regular Meeting March 28, 1994 <br /> MOTION/SECOND: Quick/Trude to Adopt Resolution No. 4535 Approving <br /> Upper Midwest Golden Gloves to Conduct Boxing Event at the Bel-Rae <br /> Ballroom <br /> VOTE: 5 ayes 0 nays Motion Carried <br /> Councilmembers agreed to accomodate Golden Gloves this time, but <br /> suggested that Mayor Linke to write a letter to the Upper Midwest <br /> Golden Gloves, Inc. informing them that the City had not been <br /> notified of the past two events that they have held. Linke to state <br /> that failure to notify the City in the future would mean non- <br /> approval of the event. <br /> E. Consideration of Resolution Nos. 4537 A Resolution Initiating the <br /> Process for the Sale of the City's Taxable General Obligation Tax <br /> Increment Refunding Bonds, Series 1994A and Consider Resolution <br /> No. 4538 A Resolution Initiating the Process for the Sale of the <br /> City's General Obligation Tax Increment Refunding Bonds, Series <br /> 1994B, Subject to Approval of the City's Bond Attorney <br /> Don Brager, Finance Director, reported that Springsted, Inc. , the <br /> City's financial advisors, recommend the sale and issuance of $4, 970 <br /> Taxable General Obligation Tax Increment Bonds, Series 1994A to <br /> refund the City's $6, 000, 000 Taxable General Obligation Tax <br /> Increment Bonds, Series 1988A. Brager further reported that based <br /> upon current market conditions Springsted estimates that the City <br /> will realize a savings of $426, 750 as a consequence of the <br /> difference in interest rates between the two issues. Brager <br /> introduced Bob Thistle, Springsted, to answer any questions. <br /> Thistle commented on the major things that the City of Mounds View <br /> had undertaken such as the Focus 2000 and the golf course. <br /> MOTION/SECOND: Quick/Trude to Adopt Resolution No. 4537 Initiating <br /> the-Process-for the-Sale-of the C-ity's Taxable Gener_a1 Obligation <br /> Tax Increment Refunding Bonds, Series 1994A <br /> VOTE: 5 ayes 0 nays Motion Carried <br /> Thistle, Springsted, made recommendation to the City Council to not <br /> consider the sale of the 1989B bonds due to market changes and new <br /> IRS restrictions. <br /> REPORTS <br /> 1. Report of Councilmembers: <br /> a. Councilmember Trude: No report <br /> • b. Councilmember Wuori: No report <br />
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