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4 <br />1 provided prior to the meeting. The low bidder had been First Bank <br />2 National Association of Minneapolis at an interest rate which was <br />3 lower than expected, the City's financial adviser indicated. Mr. <br />4 Thistle also advised that the City had retained its "A" rating with <br />5 Moody's Investors Service. <br />6 Mr. Childs reiterated that all principal and interest, which would be <br />7 close to $1,200,000, would be due in five years, at which time, if <br />8 the City is not successful in recovering damages from the "respon- <br />9 sible parties" for the water contamination, new bonds would have to <br />10 be sold and repaid from the City's water revenues. <br />11 Council Action <br />12 Motion by Marks, seconded by Ranallo to adopt Resolution 88-024. <br />13 RESOLUTION 88-024 <br />14 A RESOLUTION AUTHORIZING ISSUANCE, AWARDING SALE, <br />15 PRESCRIBING THE FORM AND DETAILS AND PROVIDING FOR THE <br />16 PAYMENT OF $875,000 GENERAL OBLIGATION -REVENUE WATER SYSTEM <br />17 BONDS, SERIES 1988A <br />18 Motion carried un <br />19 Firefighters'_ Union Contract Ratified <br />20 Motion by Enrooth, seconded by Marks to adopt the resolution which <br />21 ratifies the above and to direct the City Manager to bring the <br />22 "system of Promotion" clause up for renegotiation with the next <br />23 contract. <br />24 RESOLUTION 88-025 <br />25 A RESOLUTION RATIFYING THE 1988-89 AGREEMENT <br />26 BETWEEN THE CITY AND TEAMSTERS LOCAL NO. 320, <br />27 REPRESENTING THE ST. ANTHONY FIRE DEPARTMENT <br />28 AND AUTHORIZING THE MAYOR AND CITY MANAGER TO <br />29 EXECUTE THE AGREEMENT ON BEHALF OF THE CITY <br />30 Motion carried unanimously. <br />31 RESORTS <br />32 JUNE 21, 1988 PLANNING COMMISSION MINUTES - COMMISSIONER JOHN MADDEN <br />33 Mural Concept Withdrawn by Shopping Center Management Company <br />34 Rod Johnson of the Eberhardt Company indicated his company was no <br />35 longer interested in pursuing the proposed mural on the back of the <br />36 St. Anthony Shopping Center in view of the Commission reservations <br />37 about including the City's logo in the painting and in face of <br />