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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 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 /> 20 *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 grandfathe red 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 Ramsey County Allocates $150,000 in CDBG Funds for Water Treatment <br /> 33 Project <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 />