2019.08.27 CC Packet - Laserfiche WebLink

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August 13, 2019 Page 2 of 5 Mayor Johnson stated Finance Director Davitt would be presenting this item to the Council. Finance Director Davitt reported the City recently received a bond upgrade from AA to AA+ from Standard & Poor’s. She explained a City’s bond rating measured the City’s financial strength and ability to make payments in a timely manner. She indicated the last time the City received an upgrade was in 2009. She described the tour staff completed with Standard & Poor’s representatives and discussed how the improved bond rating would benefit the City through reduced interest rates. She reviewed the comments staff received from Standard & Poor’s noting the City had strong financial policies and practices in place. Terri Heaton, Baker Tilley, congratulated the Council and City staff on the upgraded bond rating. She discussed the strong financial position the City of New Brighton was in based on the decisions being made by both Council and staff. She presented the City Council with a plaque commemorating the AA+ credit rating. Councilmember Jacobsen congratulated staff and the Council for achieving this bond rating and for making decisions that had led to the City’s strong financial position. Councilmember Burg stated she was proud of the City’s great financial planning efforts. She indicated this was a big deal because the City would save thousands of dollars in interest going forward into the future. Councilmember Allen commented he was proud to be a part of the City Council and stated he appreciated the work former City Council’s had done to prepare New Brighton for the future. Mayor Johnson explained she appreciated the initiative staff took to achieve the AA+ bond rating. She was proud of the fact staff worked diligently to find solutions in order to provide tremendous services to New Brighton residents. She encouraged staff to keep up the great work. Motion by Councilmember Jacobsen, seconded by Councilmember Burg to accept the award from Baker Tilley commemorating the City’s AA+ Bond Rating. 4 Ayes, 0 Nays - Motion Carried Consent Agenda 1. Consider Approval of Payments of Electronic Funds Transfer (EFT) 8038-8274, ACH Payments 8027-8268 & Vouchers 157589-157655 for a total of $2,370,752.85. 2. Consider Resolution Supporting the North Metro I-35W Corridor Coalition Board of Directors’ Recommendation to Dissolve the Joint Powers Agreement of Said Coalition. 3. Consider Adopting Upgraded Government Data Practices Policies. 4. Consider Resolution Extending the Effective Date for a Site Plan Approved for STOR at 315 5th Avenue NW. 5. Consider Application for a Massage Salon and Personal Service Licenses for Koreana Wellbeing Massage. 6. Consider Application for a Solicitor License for Xfinity. 7. Consider Request for Temporary On-Sale Liquor License for Northern Lights Greyhound Adoption. 8. Consideration of Quotes and Award of Contract for City Project 19-3, 2019 Pavement Management Program. 9. Consider Approval of City Project 19-5 and Authorize Quotes. Consent Agenda 1. Pay EFT 8038-8274, ACH Pay 8027-8268 & Vouchers 157589-157655. 2. Res. Dissolve North Metro I-35W Corridor Coalition JPA. 3. Adopt Upgraded Government Data Practices Policies. 4. Res. Ext. Site Plan Approved for STOR at 315 5th Avenue NW. 5. App. for a Massage Salon and Personal Service Lic. Koreana Wellbeing Massage. 6. App. for a Solicitor License for Xfinity. 7. Temp. On-Sale Liq. Lic. for N. Lights Greyhound Adoption. 8. Contract for City Project 19-3. 9. Approve City Project 19-5 and Authorize Quotes.