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Council Meeting Minutes for July 7, 2025 <br />Page 6 of 9 <br />Approve Quote for Gravel Contract <br /> <br />Staff received quotes for class 5 modified gravel to be placed on our rural gravel roads. Staff <br />received 3 quotes: Dresel Contracting, Miller Excavating and Arnt Construction. Dresel <br />Contracting provided the low quote of $15.60 per ton delivered price. The City will need <br />approximately 5,600 tons for a total contract of $87,360.00. The roads included in this year’s re- <br />graveling project are: Fiona Rd, 140th St and 147th St. Adoption of the Consent Agenda <br />approved the contract with Dresel Contracting to provide class 5 modified gravel at $15.60 per <br />ton. <br /> <br />Public Hearing on the Issuance of Educational Facilities Revenue Bonds – Legacy <br />Christian Academy <br /> <br />At the May 5, 2025, City Council meeting, the Council adopted a resolution calling for a public <br />hearing on a proposal to Issue Educational Facilities Revenue Bonds in an amount not to exceed <br />$6,000,000, on behalf of Legacy Christian Academy (the “Borrower”), a Minnesota nonprofit <br />corporation organized under the laws of the State of Minnesota. Finance Director Anna Wobse <br />explained the bond proceeds would be used to finance the acquisition and improvements of a <br />currently leased pre-k through12 educational facility located at 3037 Bunker Lake Blvd NW in <br />Andover. The Borrower agreed to pay the City of Hugo an issuer’s administrative fee of ½ of <br />1% of the principal amount of the bonds. Taft Law, the City’s bond counsel, had reviewed this <br />request and found it to be a proper use of the City’s bonding authority. The City would only be <br />serving as the bond issuer and would have no obligations for repaying investors. Wobse <br />recommended Council open the public hearing and adopt the resolution approving the issuance <br />and sale of the bonds. Rachel Lochner from Taft Law and Jake Mulvihill, the Head of School <br />were in attendance to answer questions. <br /> <br />Miron asked Anna to remind them why the City has the ability to issue the bonds. Anna <br />explained the City has $10 million annually in bonding authority and has not used, nor plans to <br />use, any this year. <br /> <br />Jake thanked the Council on behalf of the families and students for considering this bond offer, <br /> <br />Rachel reiterated that all costs and fees were being paid by the borrower. <br /> <br />Weidt opened the public hearing. There were no comments, and he closed the public hearing. <br /> <br />Miron made motion, Strub seconded, to approve RESOLUTION NO 2025-27 RESOLUTION <br />APPROVING THE ISSUANCE AND SALE OF AN EDUCATIONAL FACILITIES <br />REVENUE NOTE, SERIES 2025 AND AUTHORIZING THE EXECUTION OF <br />DOCUMENTS RELATING THERETO (LEGACY CHRISTIAN ACADEMY PROJECT). <br /> <br />Roll call vote- <br />Ayes: Krull, Miron, Petryk, Strub, Weidt <br />Nays: None <br />Motion carried. <br />