CCP 01-25-2011 - Laserfiche WebLink

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January 11,2011 Page 5 of 6 municipality requires. Council were in agreement that tabling the item until the January 25th meeting would allow City Staff time to reach an agreement acceptable to both parties. Motion by Councilmember Phillips,seconded by Councilmember Bauman to table the item until January 25,2011. 5 Ayes,0 Nays-Motion Carried 3. Consideration of resolution awarding the sale of$2,165,000 General Obligation 3.Consideration of Bonds, Series 2011A. Report No. 11-020. Resolution No. 11-009. resolution awarding the sale of $2,165,000 General Finance Director Dan Maiers reported The proceeds from the 2011A Bonds will be used to Obligation Bonds, finance Improvement Projects, #10-1, 2010 Street Reconstruction and#10-3, Silver Lane Series 2011A. Report No. 11-020. Reconstruction, to refund the 2001 B G.O. Tax Increment Bonds and to refund the 2003A G.O. Resolution No. 11- Improvement and Water Revenue Bonds. The City of New Brighton received a AA Bond rating 009 from Standard& Poors. Dave Calister, representing Ehlers reported 10 bids were received for the bond issues. The ratings were about 1/3% lower than a projected, a present value savings of$77,000. The low bidder was United Bankers Bank, Bloomington, MN. The closing date is scheduled for January 28, 2011. Motion By Councilmember Phillips,Seconded By Councilmember To Bauman To Adopt The Resolution Awarding The Sale Of$2.13 Million General Obligation Bonds, Series 2011a to United Bankers Bank Of Bloomington, MN. 5 Ayes,0 Nays-Motion Carried 4. Consideration of resolution awarding the sale of$2,250,000 Taxable General Obligation Tax Increment Refunding Bonds, Series 2011B. Report No. 11- 4. Consideration of 021. Resolution No. 11-010. resolution awarding the sale of $2,250,000 Taxable Finance Director Dan Maiers reported the 2011B Bonds will refinance the Taxable General General Obligation Obligation Tax Increment Bonds, Series 2001C to reduce interest costs. Rex Increment Refunding Bonds, Dave Calister reported the ratings were lower than a projected, a present value savings of Series 2011B. $197,000. The low bidder was United Bankers Bank, Bloomington, MN . The closing date is Report No. 11-021. scheduled for January 28, 2011. Resolution No. 11- 010. Motion By Councilmember Burg,Seconded By Councilmember Samuelson To Adopt The Resolution Awarding The Sale Of$2,205,000 Taxable General Obligation Tax Increment Refunding Bonds, Series 2011b, Fixing Their Form And Specifications; Directing Their Execution And Delivery; And Providing For Their Payment. 5 Ayes,0 Nays-Motion Carried