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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 /> 1.8 motion carried unanimously. <br /> 19 Firefiahters' 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 Notion carried unanimously. <br /> 31 REPORTS <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 33 Mural Concept Withdrawn by Shopping Center Management Company 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 o0 <br />