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City Council Regular Meeting Minutes April 8, 2008 Page 2 Mayor Faust then presented each student with a proclamation and expressed the Council's thanks and congratulations to the students, parents, and teachers for their hard work on the project. III. CONSENT AGENDA. A. Consider March 25, 2008 Council meeting minutes. B. Consider licenses and ocrinits. C. Coru ide"ayment of claims. 10 Motion by Councilmember Gray, seconded by Councilmember Stille, to approve the Consent 11 Agenda items. 12 13 Motion carried unanimously. 14 IV. PUBLIC HEARING. 15 16 A. Resolution 08-026; Giving -Preliminary pprovalforthe Issuance ofthc City's General 17 Obligation Street Reconstruction Plan Bonds in an amount not to exceed $1,910,000 and 18 Adopting the City of St.. Anthony, Minnesota Street Reconstruction Plan of 2008 throe h 19 2012 therefor_. 20 21 Mayor Faust opened the public hearing at 7:17 p.m. 22 23 Stacie Kvilvang, Ehlers & Associates, appeared before the Council. She explained at the March 24 11, 2008 Council meeting, the Council set a public hearing on the sale of Street Reconstruction 25 Bonds in an amount not to exceed $2.7 million to finance improvements on Silver Lake Road; 26 since that time, the construction bids have been received and the revised amount needed to 27 complete the project is $1,910,000. She stated that since Silver Lake Road is a County State Aid 28 Road, the City does not have the ability to assess benefiting property owners for a portion of the 29 project and it is proposed that the City utilize its authority to issue General Obligation Street 30 Reconstruction Bonds to finance the entire remaining balance of the project, in which the amount 31 financed will be paid 100% by a general tax levy. She noted that in order to utilize this type of 32 financing, the City has to prepare a 5 -year Street Reconstruction Plan and upon conclusion of the 33 public hearing this evening, the Council must approve the Street Reconstruction Plan via a 34 unanimous vote. 35 36 As no one wished to appear, Mayor Faust closed the public hearing at 7:22 p.m. 37 38 Motion by Councilmember Stille, seconded by Councilmember Gray, to adopt Resolution 08- 39 026; Resolution Giving Preliminary Approval for the Issuance of the City's General Obligation 40 Street Reconstruction Plan Bonds in an amount not to exceed $1,910,000 and Adopting the City 41 of St. Anthony, Minnesota Street Reconstruction Plan of 2008 through 2012 therefor. 42 43 Motion carried unanimously. 44 45 B. Resolution 08-027; Resolution Providing for the Sale of $1,910,000 General Obligation 46 Street Reconstruction Bonds Series 2008. 0