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I <br />2 <br />3 <br />4 <br />5 <br />6 <br />7 <br />8 <br />9 <br />10 <br />II <br />12 <br />13 <br />14 <br />15 <br />16 <br />17 <br />18 <br />19 <br />20 <br />21 <br />22 <br />23 <br />24 <br />25 <br />26 <br />27 <br />28 <br />29 <br />30 <br />31 <br />32 <br />33 <br />34 <br />35 <br />36 <br />37 <br />38 <br />39 <br />40 <br />41 <br />42 <br />43 <br />44 <br />45 <br />46 <br />City Council Regular Meeting Minutes <br />November 13, 2012 <br />Page 5 <br />VI. <br />Councilmember Gray -No report. <br />Councilmember Jenson reported on his attendance at the St. Anthony Halloween party. He also <br />participated in the sustainable living conference and volunteered with the Kiwanis for bag <br />stuffing for the middle school students. <br />Councilmember Roth stated he participated in the s ustainability living conference as well and <br />thanked the residents who also participated. <br />Council member Stille stated on October 30 a joint meeting was held with the School Board. <br />There was also a work session with two agenda items consisting of cost reimbursements and a <br />recap of the Planning Commission . <br />Mayor Faust reported on his attendance at the following: <br />• Mississippi Water Management Organization building tour. <br />• Council attended the joint meeting with the School Board . <br />• Sustainability Living Conference. <br />• Ramsey County Board Meeting. <br />• Hennepin County Assessor Meeting to discuss annual assessment. <br />• Final meeting for Mississippi Water Management Board. <br />GENERAL BUSINESS OF COUNCIL -continued. <br />B. Resolution 12-085; Providing for the Sale of $ 1,500.000 General Obligation Water and <br />Sewer Refunding Bonds. Series 2013 A. Stacie Kvilvang. Ehlers & Associates. <br />presenting. <br />Ms. Kvilvang explained the City previously authorized the sale of$I,500,000 in General <br />Obligation Water and Sewer Refunding Bonds. The terms are not being extended and the <br />savings are 14%. She explained the bonds will not count toward bank qualification for 2013. <br />The City is rated AA by Standard and Poors and the bond sale will be held in their office on <br />December II , 2012. <br />Councilmember Stille asked for the current balance . Ms. K vilvang stated $1.450 million is the <br />outstanding balance. <br />Council member Roth asked if Ms. Kvilvang when she expects to see interest rates increase. Ms. <br />Kvilvang stated she does not know but believes they will remain low for another year or so. <br />Mayor Faust stated in 2003 the interest rates were thought to be low but at the present time <br />interest rates are even lower. <br />Motion by Councilmember Stille, seconded by Councilmember Gray, to adopt Resolution 12- <br />085 ; Providing for the Sale of$I ,500,000 General Obligation Water and Sewer Refunding <br />Bonds, Series 2013A.