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2 <br />10 <br />11 <br />12 <br />13 <br />14 <br />15 <br />16 <br />17 <br />18 <br />19 <br />20 <br />21 <br />22 <br />23 <br />24 <br />25 <br />26 <br />27 <br />28 <br />29 <br />30 <br />31 <br />32 <br />33 <br />34 <br />35 <br />36 <br />37 <br />38 <br />39 <br />40 <br />41 <br />42 <br />43 <br />44 <br />45 <br />46 <br />47 <br />City Council Regular Meeting Minutes <br />February 25, 2014 <br />Page 3 <br />Councilmember Stille reminded residents that November 14`h is the date for paying off the <br />assessment to avoid paying interest. <br />Motion carried 3-0. <br />B. Resolution 14-022: a Resolution Adopting and Confirming Assessments for the 2014 <br />Street and Utility Improvement Project. Todd Hubmer. WSB & Associates presenting. <br />Motion by Councilmember Gray, seconded by Councilmember Stille, to approve Resolution 14- <br />022; a Resolution Adopting and Confirming Assessments for the 2014 Street and Utility <br />Improvements. <br />Motion carried 3-0. <br />V. REPORTS FROM COMMISSION AND STAFF - NONE. <br />VI. GENERAL BUSINESS OF COUNCIL. <br />A. Resolution 14-023: a Resolution Awarding a Bid for the 2014 Street & Utility <br />Improvement Project. Todd Hubmer, WSB & Associates presenting_ <br />Mr. Hubmer advised that the City received eight bids for the 2014 street and utility improvement <br />project and the lowest responsible bidder was R.L. Larson Excavating, Inc. with a total bid of <br />$2,021,154.23, based on the Base Bid plus Alternate 1. <br />Councilmember Gray asked if the City has any experience with this contractor. <br />Mr. Hubmer replied that R.L. Larson Excavating, Inc., has not worked in the City but WSB & <br />Associates has worked with them in other cities and they are very qualified to do the work. <br />Motion by Councilmember Stille, seconded by Councilmember Gray, to approve Resolution 14- <br />023; a Resolution Awarding a Bid for the 2014 Street and Utility Improvements. <br />Motion carried 3-0. <br />B. Resolution 14-024: a Resolution Providing for the Sale of $2,070,000 General Obligation <br />Bonds, Series 2014A. Stacie Kvilvang Ehlers & Associates presenting. <br />Ms. Kvilvang presented the proposed issue of $2,070,000 General Obligation Improvement <br />Bonds, Series 2014A, and stated the bonds are being issued under Minn. Stat. Ch. 429, a special <br />assessment bond, and are being issued for a fifteen -year term. She advised that the City <br />anticipates that approximately 40% of property owners are likely to prepay the assessment so the <br />issue size has been reduced by $177,855.81 to reflect these prepayments; in addition, the bond <br />issue has been reduced to reflect the $50,000 grant from Rice Creek Watershed District for the <br />rain garden improvements. She indicated there would be a competitive sale for these bonds on <br />March 25, 2014, and closing date of April 10, 2014. <br />5 <br />