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October 27, 2015 Page 2 of 6 <br />minutes from the October 13, 2015 meeting. <br />5 Ayes, 0 Nays - Motion Carried <br />Commission Minutes <br />Mayor Jacobsen received the following minutes on behalf of the City: <br />PREC Commission minutes from September 2, 2015. <br />EDC Minutes from September 2, 2015. <br />Special Order of Business <br />None. <br />Consent Agenda <br />1. Consider Authorization to Purchase Security Cameras and Related Components for <br />Brightwood Hills Golf Course, New Brighton Community Center, Freedom Neighborhood <br />Center, Sunny Square Neighborhood Center and Totem Pole Neighborhood Center. <br />2. Consider Authorization of Lease Agreement between the City of New Brighton <br />and Julianne Bruce. <br />3. Consideration to approve and authorize the U.S. Bank Agreement for custody and <br />safekeeping services. <br />4. Acceptance of donation from Long Lake Improvement Association. <br />5. Consideration to Approve Payment of Vouchers #150187 to 150307 for a total of <br />$1,362,797.18. <br />Motion by Councihnember Jacobsen, seconded by Councihnember Burg to approve the Consent <br />Agenda as presented. <br />Councilmember Burg thanked the Long Lake 1 nil irovemcnt Association for their generous donation to the <br />City to assist with water patrol expenses. <br />5 Ayes, 0 Nays - Motion Carried <br />Public Hearing <br />None. <br />Council Business <br />1. Consideration to provide for the sale of $9,000,000 G.O. Refunding Bonds for <br />Partial Crossover Refunding of the 2007B G.O. TIF Bonds. <br />City Manager Lotter indicated Finance Director Davitt would be presenting this item to the Council. <br />Finance Director Davitt reported the opportunity is available for the City Council to refinance a <br />portion of the G.O. Tax Increment Bonds, Series 2007B for interest savings purposes. The <br />2007B Bonds are not callable/pre-payable until August 1, 2017. To achieve the most savings, a <br />partial crossover form of an advance refunding is recommended by Ehlers, our financial <br />Advisors. It is "partial" because it is recommended that $5,000,000 of the 2007B principal <br />Commission Minutes <br />Special Order of <br />Business <br />Consent Aeenda <br />1. Pur. of secu ity <br />Components. <br />2. Lease Agr. with <br />Julianne Bruce. <br />3. U.S. Bank Agr. for <br />custody and <br />safekeeping services. <br />4. Donation from <br />Long Lake <br />Improvement Assoc. <br />5. Payment of Vouchers <br />#150187tu 150307. <br />Public Hearine <br />Council Business <br />1. Consideration to <br />provide for the sale of <br />$9,000,000 G.O. <br />Refunding Bonds for <br />Partial Crossover <br />Refunding of the <br />2007B G.O. TIF <br />Bonds. <br />