Agenda Packets - 1988/01/19 - Laserfiche WebLink

Home Browse Search

'a Mounds View City Council January 11, 1988 Regular Meeting Page Two ----------------------- ---MAPP R GVE B ---------------- --- Clerk/Administrator Pauley explained that in September of 7. Considerath 1986 they adopted resolutions approving tax increment of Resolution financing relating to the tax increment financing district No. 2283 No.'.-1 within development district No. 2, and he explained the action before the Council now is to approve the sale of bcnds for the project. He added the financing plan has been finalized and this amendment would include the actual figures. Motion/Second: Hankner/Wuori to approve Resolution No. 2283, approving Amendment No. 1 to the Tax Increment Financing Plan relating to the Tax Increment financing District No. 1 within Devdlopment District No. 2, and waive the reading. 5 ayes 0 nays Motion Carried,: Clerk/Administrator Pauley reported that earlier in 8. Consideration the day, the City had received bids for the sale of of Resolution - $6,000,000 in taxable general obligation tax increment No. 2289 bonds. He reported the City had been given an "A" rating by Moodeys, after thorough research, and their report had been very favorable for the City. Ron Langness, of Springsted, Inc., reviewed the rating the City was given, stating the City should be proud of it. He added that this is the largest public taxable general obligation bond sale in the State, _ and the low bid was received from Miller Securites and Dain, Bosworth and Cronin Co., at 9.75% interest, which is a savings over what had been estimated last month. Motion/Second: Hankner/Quick to approve Resolution Na. 2289, awarding the bid to Miller Securites and Dain, Bosworth and Cronin Co., at a rate of 9.75%, and waive the reading. 5 ayes 0 nays Motion Carried`: Motion/Second: Linke/Blanchard to remove this item 9. Remove from from the table. Table and Award Mounds 5 ayes 0 nays View Business Park Public Improvement Contract Motion Carried