2013.02.25 CC Minutes - Laserfiche WebLink

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Hugo City Council Meeting Minutes for February 25, 2013 Page 4 of 5 Approve Sale of General Obligation Crossover Refunding Bonds At its January 7, 2013 meeting, Council authorized staff to work with the City's financial advisor to provide for the refunding of the 2004 G.O. Capital Improvement Bonds and the 2005 G.O. Tax Abatement Bonds. Bids were received until 10:30 a.m. Monday, February 25, 2013. Paul Steinman of Springsted reported the bid results to the Council. Twelve bids were received the low bidder being United Bankers' Bank with the interest rate of 1.0092%. He noted that Standard and Poors reaffirmed the City's AA+ Bond Rating. Petryk made motion, Bronk seconded, to approve RESOLUTION 2013-5 ACCEPTING PROPOSAL ON THE SALE OF $5,835,000 GENERAL OBLIGATION REFUNDING BONDS, SERIES 2013A, AND LEVYING A TAX FOR THE PAYMENT THEREOF. Ayes: Bronk, Petryk, Klein, Haas, Weidt Nays: None Motion carried. Update on the Yellow Ribbon Network Council Members Phil Klein and Chuck Haas reported to Council on the Yellow Ribbon Network activities held recently. Council Member Haas has recently returned from Norway where he helped serve steaks to the troops. A package event will take place the first week in March. Anyone wanting to donate items can drop them off at City Hall. Girl Scout Cookies will be sold at the next Hamburger night for donation to the troops. Burger Night is being sponsored by the Bald Eagle Sportsman Association. Bayport Legion will be sending two $200 checks to local Girl Scout Troops to purchase cookies for the packaging event. The Bayport Legion is also paying for the overseas shipping costs. Hugo Good Neighbors Food Shelf 2nd Annual Pasta Dinner Saturday, March 23, 2013 City Administrator Bryan Bear informed the Council that the Hugo Good Neighbors Food Shelf is holding their 2nd Annual Pasta Dinner on Saturday, March 23, 2013 at the Hugo American Legion from 6-9 p.m. This benefit is to raise money to put towards the Hugo Good Neighbors building fund. I-35 W/E Coalition Meeting March 7, 2013 at 7:00 p.m. City Administrator Bryan Bear provided a reminder that the I-35 W/E Coalition will be meeting on Thursday, March 7, 2013 at 7:00 p.m. at Hugo City Hall. Staff requested that anyone with agenda items forward them to City Clerk Michele Lindau. City Council Portrait Session April 15, 2013 at 6:30 p.m. At the Annual Goal Setting Session on January 21, 2013, Council agreed to have a portrait taken of the current Council. Staff suggested Council schedule the photo session for April 15, 2013 at 6:30 p.m., just prior to the regular meeting of the Council.