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City Council Regular Meeting Minutes March 8, 2005 Page 2 IV. PUBLIC HEARINGS. None. V. REPORTS FROM COMMISSION AND STAFF. None. 7 VI. GENERAL POLICY BUSINESS OF THE COUNCIL. 8 A. Consider Resolution 05.027, re: The Sale of Improvement Bonds Series 2005A, 9 StacyK_vily Lng, Flilers &Ssociates-presenting t0 Stacy Kvilvang of Ehlers & Associates stated at the request of the Council at their February 8, 11 2005 meeting, her firm put together the sale of the bonds totaling $1,690,000 for the roadway 12 reconstruction program. On. March 4, a conference call was held with Moody's to rate the 13 bonds. Moody's did uphold the A-1 rating for the sale of the bonds. She noted that Moody's 14 looks at redevelopment efforts. She said St. Anthony is viewed as an affluent community. The 15 redevelopment of Silver Lake Village is key. She noted there has been significant growth in the 16 community and the City is in good financial health. The City has ample fund balances, and has 17 manageable debt burden by non -levy bonds. She stated the sale of the bonds was conducted 18 earlier in the day at 11:00 a.m. There were six respondents, which is a huge response. She said 19 Wells Fargo Brokerage Group was the lowest bidder, which means there is about $].0,000 in 20 interest savings over time. 21 22 Motion by Councihnember Thuesen, seconded by COLinCilnlenlber Gray, to adopt Resolution 05- 23 027, cc:The Sale of G.O. Irnprovement Bonds Series 2005A. to be awarded to Wells Fargo 24 Brokerage Service. 25 26 Mayor Faust pointed out the true interest rate is 3.9342%. 27 28 Motion carried unaruunously. 29 30 B. Review 2005 CitSals; Stacy 1yilvan Ehlers & Associates 31 Item presented after Agenda Item VII dare to technical issues 32 Stacy Kvilvang of Ehlers & Associates reviewed the 2004 accomplishments. She said it is 33 important for cities to undertake goal setting since it sets the vision for the community. It also 34 sets up the strategic plan. She enumerated the strategic plan process. She noted that feedback 35 from the community is taken into consideration. The surveys show that residents are pleased 36 with the development and redevelopment the city has undertaken. Future challenges are not too 37 large for the city to handle. She stated there were 34 items listed in goals for this year. She said 38 the most staff time and resources will be used for the top five goals. She noted it is important to 39 review the plan quarterly. 40 41 Ms. Kvilvang listed the 2004 goals. The first was the 2004 street and utility improvements. She 42 noted the residents are happy with the changes. The second and subsequent goals were: Kenzie 43 Terrace/27`h Avenue; Water treatment chemical. room improvements; Construction of new public 44 works facility; construction of a new fire station; and the construction of two municipal liquor 45 stores. 46