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Page 3 — May 22, 2007 New Brighton Council Minutes <br />5. Consideration of Final Payment for Project 06 -5, PGRS Vertical Pivot <br />Gate. Report No. 07 -115. <br />6. Consideration of Contract Award for the Sale of Class 7 Aggregate. <br />Report No. 07 -116. <br />7. Consider Accepting Feasibility Study and Setting Public Hearing Date <br />for Bicentennial Pond Storm Water Pond Improvements. Report No. <br />07 -117. <br />8. Acceptance of donation from Bel Air Parent Teacher Association. <br />Report No. 07 -118. Resolution No. 07 -046. <br />Motion by Councilmember Doffing, seconded by Councilmember Burg to approve the <br />consent agenda as presented. <br />4 Ayes - 0 Nays, Motion Carried <br />koblic Hearin <br />ne <br />Council Business <br />1. Resolution Awarding the Sale of $455,000 General Obligation <br />Improvement Bonds, Series 2007A; Fixing Their Form and <br />Specifications; Directing Their Execution and Delivery; and Providing <br />for Their Payment. Report No. 07 -119. Resolution No. 07 -047. <br />Director of Finance Dan Maiers explained both items 1 and 2. The first <br />bonds (2007A) were issued to finance the 2007 street reconstruction <br />project 07 -01. The bonds are structured to be repaid annually between <br />2009 and 2019. <br />Kathy Aho, representing Springstead reported the City received a bond <br />rating of AA3 which is beneficial in determining interest rates. Ms. Aho <br />gave an overview of each of the bond resolutions. <br />otion by Councilmember Doffing, seconded by Councilmember Burg to waive <br />e reading and adopt the resolution awarding the sale of $455,000 general <br />obligation improvement bonds, series 2007a fixing their form and specifications; <br />directing their execution and delivery; and providing for their payment. <br />07 -1, 2007 Street <br />Reconstruction. <br />Report No, 07 -114. <br />Resolution No. 07 -045. <br />S. Consideration of Final <br />Payment for Project 06 -5, 1 <br />Vertical Pivot Gate. Repor <br />07 -115, <br />6. Consideration of Conlr, <br />Award for the Sale of Clan <br />Aggregate. <br />Report No. 07 -116. <br />7. Consider Accepting <br />Feasibility Study and Set.ti <br />Public Hearing Date for <br />Bicentennial Pond Storm <br />Pond Improvements. Rep, <br />No. 07 -117. <br />8. Acceptance of donatior <br />from Bel Air Parent Teach( <br />Association. <br />Report No, 07 -118. <br />Resolution No. 07 -046. <br />Public Hearin <br />None <br />Council Business <br />1. Resolution Awarding <br />Sale of $455,000 Gere <br />Obligation Improvemer <br />Bonds, Series 2007A; <br />Fixing Their Form and <br />Specifications; Direct.ir <br />Their Execution and <br />Delivery; and Providin€ <br />Their Payment. report <br />07 -119. <br />Resolution No. 07 -047. <br />