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1 St. Anthony would not become a hazardous waste polluter, Mr. Kaufmann <br />2 said, because part of their bid had been to retrieve and reactivate <br />3 the carbon once it was spent. <br />4 Councilmember Marks reported that, after making a line -by-line com- <br />5 parison of the two bids, he had been satisfied that Calgon's bid had <br />6 actually been about $14,000 less than the engineer's estimate. <br />7 Council Action <br />8 Motion by Ranallo, seconded by Marks to accept the lower total base <br />9 bid of $325,730.00 from Calgon Carbon Corporation for furnishing, <br />10 installing, and servicing a temporary granular activated carbon (GAC) <br />11 system at the City's water treatment plant. <br />12 <br />Motion carried unanimously. <br />13 $875,000.00 Bonds Authorized for Temporary Carbon System <br />14 Robert Thistle of Springsted Incorporated, financial advisers on the <br />15 project, was present to discuss his firm's May 17th recommendations <br />16 relative to the issuance of the above General Obligation Revenue bonds <br />17 to include $200,000 for future costs as well as reimbursement of the <br />18 Water Fund for current legal and consulting fees. <br />19 Mr. Thistle explained that: <br />0 *the estimated interest rate on the five year, "zero coupon" <br />21 bonds would be 6.55% which would all be due on maturity with a <br />22 provision for advancing that maturity if the City received a <br />23 settlement in its litigation against the U.S. Army et al for <br />24 St. Anthony's water contamination problems before five years; <br />25 *this type of bond provided the City with an accurate record keeping <br />26 method which was essential for the above litigation; <br />27 *the issue's tax exempt status would be grandfathered in and <br />28 would not be affected by any future Congressional action; <br />29 *the financial adviser indicated he would not expect the <br />30 interest rate would go up appreciably before June 28th, the <br />31 date of the bond sale. <br />32 <br />33 <br />for <br />34 Mr. Childs indicated he was not recommending the bond issue be reduced <br />35 by this amount because he anticipated future legal and consulting fees <br />36 could easily exceed the current estimates. He told Councilmember <br />37 Makowske the terms under which Ramsey County was allocating the money <br />38 indicated that if the City recovered from the potential responsible <br />39 parties, St. Anthony would first reimburse any bonded indebtedness <br />4 <br />