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Hugo City Council Minutes for July 6, 2009 <br />Page 2 of 11 <br />Approval of the Agenda <br />Miron made motion, Klein seconded, to approved the agenda as amended. <br />Remove F.2 Presentation of Annual Report by WBL Fire Department <br />Add K.1 - Discussion on Green Acres Legislation <br />Add K.2 - Rice Creek Watershed District TMDL Meeting at White Bear Lake City Hall <br />Move I.2 to the beginning of meeting - Discussion on Ordinance Violation at 6128 Goodview <br />Circle (Benjamin Carter) <br />All Ayes. Motion carried. <br />Presentation of Standard & Poors Bond Rating for City of Hugo - Paul Steinman, Vice <br />President of Sprinoted <br />At its June 15, 2009 meeting, the Hugo City Council was informed by Brenda Krueger, Vice <br />President for Springsted, Inc., that the City of Hugo's bond rating, as rated by Standard and <br />Poors, had increased by a full three steps to the excellent category. Springsted Vice President <br />Paul Steinman was in attendance and made a presentation on behalf of Springsted to highlight <br />the City's significant bond rating increase to a Standard & Poors AA+ from the former Moody's <br />rating of A1. This presentation highlighted the excellence in the City's overall financing of <br />public improvement projects. Under Standard & Poors Financial Management Assessment, the <br />City of Hugo manages budgets and estimates building revenues conservatively, amends budgets <br />as needed, has a formal reserve policy to maintain a general fund balance equal to 50% of the <br />next year's budgeted expenditures, and maintains a formal five-year capital improvement plan. <br />Paul Steinman presented Mayor Fran Miron a plaque and described the accomplishment as very <br />positive anomaly in the industry. Mayor Fran Miron thanked Springsted for their years of work <br />with the City of Hugo. <br />Miron made motion, Klein seconded, to accept the framed certificate of recognition direct staff <br />to hang it prominently at City Hall. <br />All Ayes. Motion carried. <br />Presentation of Annual Report by White Bear Lake Fire Department - Ron Hawkins, <br />Quality Control Chief <br />In the past year and a half, the Hugo Fire Department and White Bear Lake Fire Department have <br />work together in ambulance services for the City of Hugo. White Bear Lake FD would like to give <br />Council an annual report on the joint powers agreement with the City of Hugo. This item was <br />removed from the agenda and will be place on the next City Council Agenda. <br />