2010.07.19 CC Minutes - Laserfiche WebLink

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Hugo City Council Meeting of July 19, 2010 Page 3 of 6 Approve Pay Request No. 4 from Arnt Construction for Construction on South Egg Lake Road Proiect The City of Hugo received Pay Request No. 4 from Arnt Construction for work on the South Egg Lake Neighborhood Street Reconstruction Project. Senior Engineering Technician Steve Duff has reviewed the pay request and found it to be satisfactory for work completed to date on the project. Adoption of the Consent Agenda approved Pay Request No.4 to Arnt Construction in the amount of $79,093.16 for work completed to date on the South Egg Lake Neighborhood Street Reconstruction Project. Approve Leave Of Absence for Firefighter Michael McCorkel Staff added this item to the agenda. Fire Chief Jim Compton is requesting the Council approve a 60 -day Leave of Absence for Firefighter Michael McCorkel. This leave would be effective immediately. Adoption of the Consent Agenda approved the Leave of Absence for Firefighter Michael McCorkel until September 19, 2010. Approve Sale of GO Capital Improvements Bonds — Paul Steinman, Sprinuted At its June 7, 2010 meeting, the Council listened to a presentation from Paul Steinman, the City's financial advisor from Springsted, Inc., regarding the proposed sale of General Obligation Capital Improvement bonds to replace two previously issued lease revenue bonds. On Monday, July 19, 2010 at 11:00 a.m., Springsted opened bids for the sale of the G.O. Capital Improvement bonds. Financial Advisor Paul Steinman and City Finance Director Ron Otkin announced that their target interest rate was 2.38 percent; however, they received an interest rate of 1.7174 percent, resulting in a net present value savings to the City of $125,495. This bid resulted in a reduction in the overall size of the bond issue from $1.375 million to $1.34 million. There were nine bidders with the low bid from Robert W. Baird & Company, Inc. Haas made motion, Petryk seconded, to approve RESOLUTION NO. 2010-29 ACCEPTING PROPOSAL ON THE SALE OF $1,340,000 GENERAL OBLIGATION CAPITAL IMPROVEMENT PLAN BONDS, SERIES 2010A, PROVIDING FOR THEIR ISSUANCE AND LEVYING A TAX FOR THE PAYMENT THEREOF. Ayes: Haas, Petryk, Weidt, Klein, Miron Nay: None Motion carried. Approve Construction of Park Improvements at Lions Park Skate Park At is June 21, 2010 meeting, the City Council listened to a presentation by Parks Planner Shayla Syverson on a recommendation from the Parks, Recreation and Open Space Commission to make improvements at Lions Park including building a skate park and also accepted a donation of up to $10,000 from the Hugo Lions Club. Shayla presented the concept plan which included resurfacing two tennis courts, building two basketball half -courts, painting four square games and constructing a fenced skate park on a new concrete slab. At its June 10, 2010 meeting, the Planning Commission had approved the capital improvements as being consistent with the City's Comprehensive Plan. Shayla explained the funding would come from the $10,000 donation and $75,000 from the Parks fund. The total project cost of $85,000 would include $40,000 for site work, with much of it being done by the City's Public Works Department, $40,000 for skate park