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3. Consideration of approval of an ordinancerevising Chapter 19 (Article 1, Sections 19-5 General <br />Conduct-Subd 3 -Animals and Pets) of the City Code. ReportNo.12-W. Ordinance No. 810 <br />4. City Council approval of an ordinance revising Chapter 2 (Article 4, Section 2 -63 - <br />Term Limits; Section 2-67 Reports; Section 2 -69 -Absence of Members) of the City <br />Code. Report No. 12-069. Ordinance No. 811. <br />5. Consideration of Approving Post -Issuance Debt Compliance Policy, Report No. <br />12-070. *Moved to Council Business Item No. 1. <br />Motion by Councffinember Bauman seconded by Councilmember Burg to approve the Consent <br />Agenda as amended. <br />4 Ayes, 0 Nays - Motion Carried <br />Public Hearing <br />None <br />Council Business <br />1. Consideration of Approving Post -Issuance Debt Compliance Policy. <br />Report No. 12-070. *Moved from Consent Agenda. <br />'Councilmember Bauman requested an explanation of the item, stating it would be helpful to <br />provide a comprehensive overview to the Council prior to the approval request. <br />Finance Director Dan Maiers explained that this item is to comply with IRS regulations. <br />Director Maiers suggested sharing any future correspondence from the IRS with the council. <br />Mayor Jacobsen agreed that an explanation in the future will be beneficial. <br />Motion by Councilmember Samuelson, seconded by Councilmember Bauman to approve <br />Post -Issuance Debt Compliance Policy. <br />4 Ayes, 0 Nays, -Motion Carried <br />2.. Consideration of Resolution Awarding the Sale of $2,705,000 General Obligation <br />Bonds, Series 2012A. Report No. 12-071. Resolution No. 12-023. <br />Finance Director Dan Maiers reported that the 2012A Bonds are a combination of financing for <br />the (A) 2011 Street Reconstruction Improvement Project and the current refundings of the (B) <br />2004A G.O. Tax Increment Bonds and the (C) 2004C G.O. Improvement Bonds. The main <br />reason for refinancing is to take advantage of favorable interest rates. <br />Mark Ruff, representing Ehlers reported that Standard and Poor's has affirmed the City's AA <br />credit rating. Four bids were received, the winning bid was from United Bankers Bank; <br />Bloomington, MN. <br />27, Page 3 of 6 <br />3. Consideration of <br />ordinance revising <br />Chapter 19 of the City <br />Code. <br />Report No. 12-068. <br />Ordinance No. 810 <br />4. Consideration of <br />ordinance revising <br />Chapter 2 of the City <br />Code. <br />Report No. 12-069. <br />Ordinance No. 811. <br />5. Moved 10 Council <br />Business, <br />Public Hearine <br />None <br />Council Business <br />1. Consideration of <br />Approving Post - <br />Issuance Debt <br />Compliance Policy. <br />Report No. 12-070. <br />*Moved from Consent <br />Agenda <br />2. Consideration of <br />Resolution Awarding <br />the Sale of $2,705,000 <br />General Obligation <br />Bonds, Series 2012A. <br />Report No. 12-071. <br />Resolution No. 12-023 <br />