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City Council Regular Meeting Minutes May 23, 2000 Page 7 1 is anticipated to be about$167,000. This includes a 10% contingency factor and a 25% 2 legal, engineering, and administrative costs. 3 4. Forcemain Option 2. This option is similar to Option 1 above except that the 4 forcemain would turn south at Roosevelt Avenue to avoid the difficult Stinson Boulevard 5 intersection. All of the pipe would be installed using directional boring techniques to 6 minimize surface disruption. The total project cost would be approximately $146,000. 7 8 5. Forcemain Option 3. This option would direct the forcemain south on Harding 9 Street to 36th Avenue and west on 36th to Edwards Street. The total project cost would 10 be approximately $141,000. 1 l Mr. Hubmer stated that the recommendation of WSB & Associates would be Option 2 to 12 upgrade the existing lift station, and Option 3 for the forcemain. 13 Motion by Hodson to approve Resolution 00-045, wherein the City Council of the City of 14 St. Anthony: •15 1. Accepts the Feasibility Report for the Harding Street Lift Station and Forcemain . .6 Improvement Project; 17 2. Directs WSB & Associates, Inc. to prepare final plans and specifications to com- 18 plete the recommended improvements as outlined in the Feasibility Report, which 19 recommended improvements are Option 2 to upgrade the existing lift station, and 20 Option 3 for the forcemain. 21 Motion carried unanimously. 22 B. Resolution 00-042 re: Call for Sale of General Obligation State Aid Street Bonds. 23 Mayor Cavanaugh introduced Mr. Jerry Shannon,Vice President of Springsted, and invited him 24 to address the Council. Mr. Shannon stated that the Council would be considering$1,610,000 of 25 General Obligation Storm Sewer Revenue Bonds, Series 2000A, and$950,000 of General 26 Obligation State-Aid Street bonds, Series 2000B. 27 Mr. Shannon reviewed the details of both bonding issues and requested that Tuesday, June 13, 28 2000 would be the date that the Council would set to take bids on both issues. Bids would be 29 taken at 12:00 noon at the Springsted office. Between now and then, Springsted would finalize 30 the prospectus (which details the issue and provides information about the financial and socio- 31 economic position of the City as well as the ability to meet debt payments on the bonds). Addi- 12 tionally, Springsted would also make a rating application to Moody's Investment Service.