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City Council Regular Meeting Minutes April 28, 2020 Page 2 1 2 A. Resolution 20-042; a Resolution Authorizing Issuance, Awarding Sale, Prescribing the 3 Form and Details and Providing for the Payment of $3,000,000 General Obligation Street 4 Reconstruction Bonds Series 2020A. 5 6 Mr. Keith Dahl, Ehlers & Associates gave a presentation and reviewed the resolution with the 7 Council. 8 9 Councilmember Randle stated he was in conversation with Governor Tim Walz while 10 participating on the League of Minnesota Cities meeting and there was some Legislative talk 11 about the bonding bill not being passed at the Legislature. He wondered if that affected the sale 12 of the City's bonds, did that play a role in the sale of the bonds. 13 14 Mr. Dahl explained it did not play into the bonds that St. Anthony was issuing. He indicated 15 Ehlers & Associates has a different pool of investors to work with and these bids received were 16 from a different pool, essentially and does not affect this bond in particular. 17 18 Mayor Stille stated he looked back since 2013 and the City's interest rate have ranged anywhere 19 from two percent to three percent for road construction bonds so this being one and three 20 quarters in essence is really good. The City's AA rating is something to be proud of and another 21 thing is that the City is budgeting a two percent interest rate for this so that gives them a little 22 more cushion as well. In this low interest rate environment, it has helped the City. 23 24 Motion by Councilmember Jenson, seconded by Councilmember Randle, to approve Resolution 25 20-042; a Resolution Authorizing Issuance, Awarding Sale, Prescribing the Form and Details 26 and Providing for the Payment of $3,000,000 General Obligation Street Reconstruction Bonds 27 Series 2020A to Piper Sand. 28 29 Motion carried 5-0. 30 31 B. Resolution 20-043. a Resolution Approving and Adopting the Final 2040 Comprehensive 32 Plan for the City of St. Anthony Village. 33 34 City Planner Grittman reviewed the resolution with the Council. 35 36 Councilmember Webster noticed the recommendations the Met Council came back with were 37 really interesting and if she understood this correctly the City does not have to resubmit anything 38 to Met Council and is only for the City's future planning purposes. 39 40 Mr. Grittman indicated that was correct. Staff will actually build some of the recommendations 41 into the planning document that is being produced this week to reflect the changes. There will be 42 no more review by the Met Council. 43 44 Mayor Stille noted this is a finalization of the Comprehensive Plan and is four years going into 45 this. He went back and looked at the number of community members that worked on this and 46 this has been touched by fourteen Planning Commissioners, four City Planners, including Mr.