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City Council Regular Meeting Minutes March 11, 1997 Page 4 1 rack be placed outside of their office in the hallway for brochures. Staff has denied this 2 request as they are aware of the sensitivity of the Council as to the appearance of the entryway. 3 Enrooth suggested a rack on rollers could be utilized which could be rolled out in the 4 morning and put away in the evenings. 5 6 VII. PUBLIC HEARINGS - None. 7 IX. NEW BUSINESS. 8 A. Resolution 97-025, re: Award Sale of Bonds for 1997 Street Improvement Project. 9 Bob Thistle, Springsted Co., reported the City Council had,authorized Springsted to 10 advertise the sale of bids for $690,000 General Obligation Improvement Bonds, Series 11 1997A. The bids have been received and the lowest bid is from John G. Kinnard & 12 Company, Inc. at a true interest rate of 5.105%. Mr. Thistle explained Moody's has 13 changed their rating system from A and Al to A3, A2, Al and from AA and AA1 to 14 AA3, AA2, and AAL The City of St. Anthony has retained an Al rating. Mr. 15 Thistle also explained that since this bond sale is less than $1 million, there is no 16 disclosure requirement. 17 18 Motion by Marks, second by Enrooth to approve Resolution 97-025, relating to 19 $690,000 General Obligation Improvement Bonds, Series 1997A; awarding the sale to 20 John G. Kinnard & Company, Inc. at a true interest rate of 5.105%, fixing the form 21 and details and providing for the execution and delivery thereof and security therefor 22 and levying ad valorem taxes for the payment thereof. 23 Motion carried unanimously. 24 B. Resolution 97-026, re: Appoint City's Prosecuting Attorney. 25 Motion by Enrooth, second by Faust to approve Resolution 97-026, appointing Foster, 26 Ojile, Wentzell & Brever as prosecuting attorney for the City of St. Anthony 27 commencing April 1, 1997 and terminating March 31, 1998 at a rate of$3,000 per 28 month. 29 Mayor Ranallo stated he would abstain from this vote as his daughter is employed as 30 the office manager of this firm. He noted she began employment with this firm after 31 the City of St. Anthony began working with them. 32 Vote on the motion. Enrooth, Faust, Marks voted aye. Ranallo abstained. 33 Motion carried. 34 C. Resolution 97-021, re: Early Retirement Policy. 35 Motion by Marks, second by Enrooth to approve Resolution 97-021, setting policy for 36 early retirement incentive for City of St. Anthony employees.