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Mounds View City Council December 14, 2020 <br />Regular Meeting Page 4 <br /> <br />C. Resolution 9364, Providing for the Sale of $5,830,000 General Obligation <br />Water Revenue Bonds, 2020A. <br /> <br />Finance Director Beer requested the Council adopt a Resolution providing for the sale of <br />$5,830,000 in General Obligation Water Revenue Bonds, Series 2020A. He reported Kennedy & <br />Graven provided staff with the final results from the bond sale. He indicated the bond sale was <br />reduced from $6,140,000 to $5,830,000 due to the favorable interest rate. It was noted the favorable <br />bid was received from Robert W. Baird in Wisconsin. <br /> <br />Stacie Kvilvang, Ehlers & Associates, discussed the bond sale and noted this was a great time to <br />be in the market. She reported the City received an AA bond rating due to the City’s strong <br />financial standing. She noted the bond sale received six bids and the low bid was received from <br />Robert W. Baird with an interest rate of .92%. <br /> <br />Mayor Mueller commended City staff and the Council for the favorable bond interest rate that was <br />received for this bond sale noting this allowed the City to reduce the overall amount of bonds <br />needed. <br /> <br />MOTION/SECOND: Bergeron/Hull. To Waive the Reading and Adopt Resolution 9364, <br />Providing for the Sale of $5,830,000 General Obligation Water Revenue Bonds, 2020A. <br /> <br />A roll call vote was taken. <br /> <br /> Ayes – 5 Nays – 0 Motion carried. <br /> <br />D. Resolution 9354, Authorizing Severance for Public Works Maintenance <br />Worker Timothy Fredberg. <br /> <br />Human Resources Coordinator Ewald requested the Council approve a Resolution that would <br />authorize severance for Public Works Maintenance Worker Timothy Fredberg. She explained Mr. <br />Fredberg retired from the Public Works Department on November 30th after serving the City for <br />26 years. She noted Mr. Fredberg would be greatly missed by the City of Mounds View and staff <br />wished Mr. Fredberg all the best in his retirement. <br /> <br />MOTION/SECOND: Hull/Gunn. To Waive the Reading and Adopt Resolution 9354, Authorizing <br />Severance for Public Works Maintenance Worker Timothy Fredberg. <br /> <br />Council Member Gunn thanked Mr. Fredberg for his service to the community and wished him all <br />the best in his retirement. <br /> <br />Mayor Mueller thanked Mr. Fredberg for all his contributions to the City of Mounds View. <br /> <br />A roll call vote was taken. <br /> <br /> Ayes – 5 Nays – 0 Motion carried. <br />