CCP 04-10-2012 - Laserfiche WebLink

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March 27,Page 3 of 6 3. Consideration of approval of an ordinance revising Chapter 19(Article 1,Sections 19-5 General Conduct Subd 3-Animals and Pets) City of the Code. Report No. 12-068. Ordinance No.810 3.Cnanceonsideratiorevisinng of ordi Chapter 19 of the City 4. City Council approval of an ordinance revising Chapter 2 (Article 4, Section 2-63- Code. Term Limits; Section 2-67 Reports; Section 2-69-Absence of Members) of the City Ordinan e No.810 Code. Report No. 12-069. Ordinance No. 811. 4. Consideration of ordi5. Consideration of Approving Post-Issuance Debt Compliance Policy. Report No. Chapter 2e or fthing Chapter 2 of the City 12-070. *Moved to Council Business Item No. 1. Code. Report No. 12-069. Ordinance No.811. Motion by Councilmember Bauman seconded by Councilmember Burg to approve the Consent 5. Moved to Council Agenda as amended. Business. 4 Ayes,0 Nays-Motion Carried Public Hearing None Public Hearing None Council Business 1. Consideration of Approving Post-Issuance Debt Compliance Policy. ness Report No. 12-070. *Moved from Consent Agenda. 1.Counciloration p g 1.Consideration of Approving Post- Councilmember Bauman requested an explanation of the item, stating it would be helpful to Issuance Debt Compliance Policy. provide a comprehensive overview to the Council prior to the approval request. Report No. 12-070. Finance Director Dan Maiers explained that this item is to comply with IRS regulations. *Moved from Consent Director Maiers suggested sharing any future correspondence from the IRS with the council. Agenda Mayor Jacobsen agreed that an explanation in the future will be beneficial. Motion by Councilmember Samuelson, seconded by Councilmember Bauman to approve Post-Issuance Debt Compliance Policy. 4 Ayes, 0 Nays, -Motion Carried 2.. Consideration of Resolution Awarding the Sale of$2,705,000 General Obligation Bonds, Series 2012A. Report No. 12-071. Resolution No. 12-023. 2.Consideration of Resolution Awarding the Sale of$2,705,000 General Obligation Finance Director Dan Maiers reported that the 2012A Bonds are a combination of financing for Bonds,Series 2012A. the (A) 2011 Street Reconstruction Improvement Project and the current refundings of the (B) Report No. 12-071. 2004A G.O. Tax Increment Bonds and the (C) 2004C G.O. Improvement Bonds. The main Resolution No. 12-023 reason for refinancing is to take advantage of favorable interest rates. Mark Ruff, representing Ehlers reported that Standard and Poor's has affirmed the City's AA credit rating. Four bids were received, the winning bid was from United Bankers Bank; Bloomington, MN.