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2 <br />City Council Regular Meeting Minutes <br />April 14, 2009 <br />Page 2 <br />V. REPORTS FROM COMMISSION AND STAFF. <br />None. <br />VI. GENERAL BUSINESS OF COUNCIL. <br />A. Presentation by Jerry Hromatka, Northwest Youth and Family Services. <br />9 Mr. Jerry Hromatka, Northwest Youth and Family Services (NYFS), provided a presentation on <br />10 the services provided by the organization. He stated the primary emphasis of NYFS is youth ages <br />11 5 — 21 and the families that affect them. NYFS helps youth develop to their full potential. All <br />12 residents of St. Anthony are eligible for the services of NYFS. Mr. Hromatka provided <br />13 information on expanded programs offered by NYFS and the completion of the new Discovery <br />14 Center. Mr. Hromatka announced the upcoming Taste of Northwest Fundraiser and the May 6"' <br />15 Leadership Luncheon. <br />16 <br />17 Councilmember Stille congratulated Mr. Hromatka on his new position as President/CEO of <br />18 NYFS and stated he brings a lot of vitality and energy to the organization <br />19 <br />20 Mayor Faust thanked Mr. Hromatka for his work and commented on the return on investment of <br />21 funds the City provides to NYFS. He noted that last week's police report identified that a student <br />22 had been referred to NYFS, which is a better way to handle the situation than working through <br />23 the court. <br />24 <br />25 B. Consider Resolution 09-036; Relating to $5,175,000 General Obligation Bonds, Series <br />26 2009A; Awarding the Sale, Fixing the Form and Details and Providing for the Execution <br />27 and Delivery Thereof and Security Therefor and Levying Ad Valorem Taxes for the <br />28 Payment Thereof. Stacie Kvilvang, Ehlers & Associates, presenting, <br />29 <br />30 Stacie Kvilvang, Ehlers & Associates, presented the City Council with a plaque of recognition <br />31 for the City's upgraded AA bond rating by Standard & Poors. <br />32 <br />33 Mayor Faust stated this AA bond rating is a very significant event. The upgraded bond rating has <br />34 been a goal since he has been on the Council and it will result in lower interest rates for the City. <br />35 <br />36 Ms. Kvilvang reviewed the proposed resolution relating to $5,175,000 General Obligation Bonds <br />37 Series 2009 for the 2009 Road Reconstruction Project, Improvements to Emerald Park, and to <br />38 refinance the 2000A and 2000B Bonds. She reported on the results of the bond sale held today at <br />39 noon. There were 10 bidders. RBC Capital Markets was the lowest responsible bidder at a true <br />40 interest cost of approximately 3.2%. <br />41 <br />42 Councilmember Stille verified with Ms. Kvilvang that the difference in spreads from the City's <br />43 previous A bond rating to the upgraded AA bond rating can be from 1.21 to 1.39%, resulting in <br />44 an average savings of 1.3% just due to the increased bond rating. He pointed out that by <br />45 amortizing this bond issue over 10 years, it results in a savings in the aggregate of approximately <br />2 <br />