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• <br /> 1 City of St. Anthony Regular Council Meeting <br /> 2 Page 3 <br /> 3 May 24, 1994 <br /> 4 VII. NEW BUSINESS. <br /> 5 A. Resolution 94-036 - Award sale of$525,000 street improvement bonds <br /> 6 Bob Thistle, from Springsted, Inc., the City's financial advisors, was present to <br /> 7 make recommendation and answer any questions pertaining to the improvement <br /> 8 bonds. He distributed a sheet which indicated that five bids had been received <br /> 9 and his recommendation was to award the bid to the lowest bidder, John G. <br /> 10 Kinnard & Company Incorporated, with an interest rate of 5.6972 percent and <br /> 11 approve Resolution 94-036. The Council had no questions. <br /> 12 Motion by Wagner, seconded by Enrooth to approve Resolution 94-036 which <br /> 13 awards the sale of$525,000 street improvement bonds to John G. Kinnard & <br /> Company Incorporated, as recommended by Springsted, Inc.. <br /> 15 Motion carried unanimously. <br /> 16 Before Mr. Thistle left, Mayor Ranallo indicated Mr. Thistle, and he have <br /> 17 discussed making the whole City a Tax Increment Financing District with Jerry <br /> 18 Gilligan of Dorsey & Whitney. This action has precedent, which Mr. Thistle <br /> 19 was instrumental in accomplishing for another city. <br /> 20 B. Approval of the City's Insurance Renewal, <br /> 21 The City's insurance consultant, Mark Flaten, of American Risk Services, was <br /> 22 present to discuss his recommendations and answer questions about the City's <br /> 23 insurance coverage for June 1, 1994 through May 31, 1995. Included in the <br /> 24 agenda,packet were price quotations for property, auto, general liability, <br /> 25 workers' compensation and liquor liability. Mr. Flaten said there were no <br /> 26 significant changes other than that of liMoto <br /> ' lity. The insurance consultant <br /> 27 recommended changing coverage from Transcontinental as the <br /> 28 City's off-sale liquor liability carrier and Britamco Underwriters as the City's <br /> 29 on-sale liquor liability carrier. <br /> Motion by Marks, seconded by Enrooth to approve the City's insurance <br /> coverage for the upcoming year as recommended by the insurance consultant as <br /> 32 follows: <br />