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0 <br />City Council Regular Meeting Minutes <br />October 27, 2009 <br />Page 2 <br />IV. PUBLIC IIEARING. <br />None. <br />Motion carried unanimously. <br />7 V. REPORTS FROM COMMISSION AND STAFF. <br />8 <br />9 A. Presentation from Mike Freeman, Hennepin County Attorney. <br />10 <br />11 Mike Freeman, Hennepin County Attorney, provided an overview of current efforts of the <br />12 Hennepin County Attorney's Office in the areas of community policing, mortgage fraud, and <br />13 slowing crime trends. <br />14 <br />15 Mayor Faust thanked Mr. Freeman for the cooperation between the Hennepin County Attorney's <br />16 Office and the St. Anthony Police Department. <br />17 <br />18 VI. GENERAL BUSINESS OF COUNCIL <br />19 <br />20 A. Consider Resolution 09-080; Call for Sale of Bond for Refinancing. Stacie Kvilvang, <br />21 Ehlers & Associates, presenting, <br />22 <br />23 Stacie Kvilvang, Ehlers & Associates, provided an overview of the Pre -Sale Report for <br />24 $1,700,000 General Obligation Refunding Bonds, Series 2009B. The purpose of the proposed <br />25 debt is refinancing of the following: 2001A GO Abatement Bonds; 2001B GO Improvement <br />26 Bonds; 2002A GO Improvement Bonds. Ms. Kvilvang provided information on the anticipated <br />27 bond rating of "AA" and the original purpose of the Bonds being refinanced. The Bond <br />28 refinancing will not affect the 2010 levy; it will have the ability to affect the 2011 levy. The <br />29 anticipated annual savings will vary based on rates. The City is reimbursed by the School District <br />30 for a portion of the 2001A GO Abatement Bonds. <br />31 <br />32 Mayor Faust noted the life of the bonds has not been extended, and that the refinancing of the <br />33 bonds will result in a lower interest rate with an estimated future savings of $220,000 Net <br />34 Present Value. <br />35 <br />36 Motion by Councilmember Stille, seconded by Councilmember Roth, to adopt Resolution 09- <br />37 080; Call for Sale of Bond for Refinancing. <br />38 <br />39 Motion carried unanimously. <br />40 <br />41 B. City Engineer's Update. Todd Hubmer, WSB & Associates, presenting. <br />42 <br />43 Todd Hubmer, WSB & Associates, presented the City Engineer's Update and answered <br />44 questions of the City Council on the following projects: 1) 2009 Street Reconstruction Project; <br />45 2) Water Tower Park Watermain Replacement Project; 3) Arbors Alley Improvement Project; 4) <br />2 <br />