2011.10.03 CC Minutes - Laserfiche WebLink

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Hugo City Council Meeting Minutes for October 3, 2011 Page 2 of 10 Recognition of Retirement of Planning Commission Chair Dave Schumann Longtime Hugo Planning Commission Chair Dave Schumann decided to retire from his volunteer public service to the City of Hugo. Dave's service began in 1993 when he was appointed by the Hugo City Council to the Planning Commission and Chair since 2001. Dave also served on Hugo Board of Zoning Appeals and Adjustments since 2001. Under Dave's leadership, the Hugo Planning Commission considered hundreds of applications for developments and variances. Mayor Fran Miron presented Dave with a plaque and resolution, recognizing him for his many years of public service, as a small token of the City's appreciation for all he's done for the City. Miron made motion, Haas seconded, to approve RESOLUTION 2011— 30 RECOGNIZING DAVID SCHUMANN FOR HIS 18 YEARS OF PUBLIC SERVICE ON THE PLANNING COMMISSION. All Ayes. Motion carried. The Mayor called for a 15 -minute recess for the public to enjoy refreshments in honor of Dave Schuman. Award Sale of Bond for Public Improvement Proiect At its September 6, 2011 meeting, the Council authorized staff to prepare for the sale of $1,325,000 G.O. Public Improvement Bonds to partially finance the South Ethan Avenue Street and Utility Project. On Monday, October 3, 2011 at 10:00 a.m., the City's financial advisor, Springsted, opened bids for the sale of bonds for the project. Springsted Vice President Paul Steinman presented the results of the sale. There were five bidders ranging from 2.27%-2.85% rate with Northland Securities being the low bidder. Finance Director Ron Otkin stated the approval of the bond sale is taking place this evening prior to the assessment hearing on the Ethan Avenue project to ensure appropriate interest rate on the assessment. The assessment rate on the project will be at the rate of 4.27% instead of the estimated 6%. Weidt made motion, Haas seconded, to approve RESOLUTION NO. 2011-31 ACCEPTING PROPOSAL ON THE COMPETITIVE NEGOTIATED SALE OF $1,325,000 GENERAL OBLIGATION IMPROVEMENT BONDS, SERIES 201 IA, PROVIDING FOR THEIR ISSUANCE AND PLEDGING SPECIAL ASSESSMENTS FOR THE SECURITY THEREOF AND LEVYING A TAX FOR THE PAYMENT THEREOF. Ayes: Haas, Klein, Weidt, Miron. Nays: None Motion carried.