2009.06.15 CC Minutes - Laserfiche WebLink

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Hugo City Council Minutes for June 15, 2009 Page 7 of 9 with an opportunity to prepay their special assessment. City Finance Director Ron Otkin reported more than one-half of the assessments were collected, which allowed the City to reduce its bond sale to under $1 million. Finance Director Ron Otkin and Community Development Director Bryan Bear held a ratings call with Standard & Poor's on Monday, June 8, 2009. Standard & Poor's were favorable in terms of the City's overall bond rating. Finance Director Ron Otkin presented the details of the bond issue and explained the City's bond rating improved two steps from Al to AA+. Brenda Krueger from Springsted presented the bid tabulations for the sale of GO improvement bonds and recommended Council award the sale to RBC Capital Markets Corporation at an interest rate of 3.407%. Haas made motion, Petryk seconded to adopt RESOLUTION 2009-21 PROVIDING FOR THE ISSUANCE AND SALE OF $965,000 GENERAL OBLIGATION IMPROVEMENT BONDS, SERIES 2009A, PLEDGING SPECIAL ASSESSMENTS FOR THE SECURITY THEREOF AND LEVYING A TAX FOR THE PAYMENT THEREOF. Ayes: Petryk, Klein, Weidt, Haas, Miron Nays: None Motion carried. Discussion on Scoping Estimate for Underl4roundinu Power Lines on TH61 - John Wertish, Xcel Energy This item was removed from the agenda by City Administrator Mike Ericson. Mike was in contact with John Wertish who informed him he would not be able to attend the meeting due to family matters. John is scheduled to be at the July 20, 2009 meeting to discuss this issue with the Council. Update on Ordinance Violation at 5941 Oneka Lake Boulevard (Viola Maslowski) At its June 1, 2009 meeting, the City Council listened to a presentation from staff regarding violations of the City's junk car ordinance for property located at 5941 Oneka Lake Boulevard. Council discussed with Ken Maslowski clean-up efforts to date at the property. After discussion, he was granted two week to complete the final cleanup on the property. Staff met with Ken Maslowski on June 15, and staff reported to Council the cleanup efforts to date. City Administrator Mike Ericson shared PowerPoint pictures with Council showing the removal of many the cars and miscellaneous junk that had been on the property. Ken Maslowski had discussed with Council the possibility of building a shed to house two collector vehicles, licensing a van, and selling one car still remaining on the property, Miron made motion, Klein seconded, to require the car be sold and the van licensed within the next month, and a building permit be secured for storage of the two collector vehicles or they be removed from the property by November 30, 2009. All ayes. Motion carried.