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<br />Page 3 - June 13, 2006 New Brighton Council Minutes
<br />
<br />eotion by Council Member Doffing seconded by Council Member Bauman to
<br />approve the consent agenda as amended.
<br />
<br />6. Consideration of
<br />Proposal for Old Highway
<br />8 PreliminaIy Design
<br />Services.
<br />Report No. 06-127.
<br />Resolution No. 06-049.
<br />
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<br />Dan Maiers, Director of Finance stated this was the third off()\lf... ie........x......p....e.......c.......t.............e..............d....................... ~~~d issues for
<br />the Northwest Quadrant redevelopment project. The bonds wo{ild.il;>~:$old through a
<br />competitive bid process; with the final debt P;a~~J:1tpn the bonds iS~2.heduled to be
<br />February 1,2032; with a feature allowing prepaYxnentc.)nor after February ,2017.
<br />
<br />
<br />7. Establish Public
<br />Hearing Date for
<br />Proposed Tax Increment
<br />Financing District on
<br />former Marv's
<br />Transmission Site at 715
<br />Old Highway 8 NW.
<br />Report No. 06-128.
<br />Resolution No. 06~050.
<br />
<br />4 Ayes - 0 Nays, Motion Carried
<br />
<br />Public Hearine:
<br />None
<br />
<br />Council Business
<br />1. Consideration of resolution providing for the i~s1lance and sale
<br />$20,730,000 General Obligation Tax Incrernent Bonds, Series
<br />Report No. 06-131. Resolution No. 06-0$1;
<br />
<br />8. Consideration of
<br />of the IELS
<br />Officers Arbitmtion
<br />
<br />No. 06-129.
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<br />..wayor Larson inquired as to the bond ratings effe~~;9n issueslikethis.
<br />.. Maiers indicated the citY'sb~9:dFi.lt~~g was recegtIy upgr~ded fr{)~!\l}o
<br />Kathy Aho, a representative~.2.tA:Spril1~.~tead Financi.i:ll;~t~led the anticiPilted interest
<br />savings based on the upgra4~Cl.b()nd ratingiwould be approximately $400,000.00.
<br />
<br />
<br />9. Consideration of
<br />Ordinance Amending
<br />Section 2-71 of the City
<br />code relating to municipal
<br />commission members
<br />involvement in City
<br />contmcts.
<br />Report No. 06-130.
<br />Ordinance No.7 41
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<br />Council member Doffing~~e~tioned w~e~~ITr.~~e~nticipat~~funds required for 2007~2008
<br />
<br />are known. ..i...... .......i. .................. ..i>
<br />Mr. Maiers stat~q...~~~bond proceeds~Quld likely.l?~!)gem..~thin 12 months; with the next
<br />bond issue Q~iI:ig;~'UP!)t,antially less. . .
<br />
<br />
<br />ouneil Business
<br />1. Consideration of
<br />resolution providing for
<br />the issuance and sale of
<br />$20,730,000 General
<br />Obligation Tax Increment
<br />Bonds, Series 2006A.
<br />Report No. 06-131.
<br />Resolution No. 06-051.
<br />
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<br />Motion>Il~::~~uncil Member Bur~ seconded by Council Member Bauman to approve
<br />the resoluti~~.'providing for the issuance and sale of $20,730,000 General Obligation
<br />Tax IncrementBonds, Series 20()6A.
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<br />4 Ayes - 0 Nays, Mod()n...........u..~a~H~d
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<br />
<br />ommission Liaison Re orts Announcements and U dates
<br />Municipal Advisory Commission Reports:
<br />
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