Minutes - 2002/07/22 - Laserfiche WebLink

Home Browse Search

Mounds View City Council July 22, 2002 Regular Meeting Page 22 issued in 2000 or 200E He then commented that in addition to the fact that the City is out of compliance with this law there is also the matter that the City will need to come back into compliance in order to sell any new bonds to refinance some water revenue bonds and save $100,000 over the life of those bonds. Council Member Marty asked if there is a penalty or repercussions for not being in compliance with the law. Finance Director Hansen indicated that no one has described to him what the penalties are for not complying with this continuing disclosure law. MOTION/SECOND: Marty/Quick. To Waive the Reading and Approve Resolution 5809, a Resolution Approving a Contract with Springsted Inc for Continuing Disclosure. Council Member Stigney commented that the previous finance director submitted reports for the City and asked if there was a reason Mr. Hansen needed assistance with the project. Finance Director Hansen indicated this would be practical to farm out to a consultant because he is behind on the budget and audit report. He then said he intends to determine whether it will be feasible for him to do the reports in the future. • Ayes - 5 Nays - 0 Motion carried. F. Resolution 5804 Awarding the Construction Contract for the County Road H2 Street Project. Public Works Director Lee indicated he was pleased to report that on July 18, 2002 the City received 7 bids for the H2 street improvement project and Palda and sons was the lowest bid at $1,177,252.44 and that is $185,000 below the engineers estimate. He then indicated that Resolution 5804 was before Council that would award the contract for the project but it is contingent upon receiving approval and permits from the watershed district. He further explained that he believes all the issues were addressed at the board meeting last week and the contractor anticipates starting the week of August 12, 2002 and substantially completing the project during the 2002 construction season with the second layer of bituminous, final restoration, and the trailway being constructed in 2003. MOTION/SECOND: Stigney/Sonterre. To Waive the Reading and Approve Resolution 5804, a Resolution Awarding the Construction Contract for the County Road H2 Street Project. Council Member Thomas asked if it was determined that the City would be able to have curb and gutter on this street. Public Works Director Lee indicated that Rice Creek had determined there would need to be water infiltration basins but will allow curb and gutter.