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<br />COUNCIL PROCEEDINGS
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<br />CITY OF NEW BRIGHTON
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<br />Pursuant to notice thereof, a special meeting of the New Brighton City Council was held Tuesday,
<br />September 29, 1992, at 5:30 p,m, in the municipal building, 803 Fifth Avenue NW.
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<br />Present: Mayor Benke, Councilmembers Gunderman, Larson (5:40), Rebelein and Williams,
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<br />Absent: None
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<br />Also Present: David Childs, City Manager
<br />Margaret Egan. Finance Director
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<br />Council Business Council Business
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<br />Finance Director Margaret Egan presented the awarding of the four General
<br />Obligation Bonds, including two refunding bonds, She noted that the City's
<br />positive bond rating of A-1 has been reconfirmed by Moody's.
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<br />Dave MacGillivray, Springsted, served as the City's Fiscal Consultant and
<br />presented a summary of the bids, He noted that the two Refunding Bonds
<br />will provide a total savings of $550,000 to the City,
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<br />Motion by Rebelein, seconded by Gunderman, to WAIVE THE READING
<br />AND ADOPT THE RESOLUTION AWARDING PARK INVESTMENT
<br />CORPORATION THE GENERAL OBLIGATION IMPROVEMENT BONDS,
<br />SERIES 1992A, IN THE AMOUNT OF $495,000, AT A TRUE INTEREST
<br />RATE OF 4.8893%.
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<br />Resolution 92-109
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<br />5 Ayes - 0 Nayes, Motion Carried.
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<br />Motion by Rebelein, seconded by Gunderman, to WAIVE THE READING
<br />AND ADOPT THE RESOLUTION AWARDING PARK INVESTMENT
<br />CORPORATION THE GENERAL OBLIGATION SEWER REVENUE BONDS,
<br />SERIES 19928, IN THE AMOUNT OF $230,000, AT A TRUE INTEREST
<br />RATE OF 4.0692%.
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<br />Resolution 92-110
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<br />5 Ayes - 0 Nayes, Motion Carried.
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<br />Motion by Rebelein, seconded by Gunderman, to WAIVE THE READING Resolution 92.111
<br />AND ADOPT THE RESOLUTION AWARDING KEMPER SECURITIES, INC.,
<br />CLAYTON BROWN & ASSOCIATES, INC. AND GRIFFIN, KUBIK, STEPHENS
<br />AND THOMPSON, INC. THE GENERAL OBLIGATION CAPITAL
<br />IMPROVEMENT REFUNDING BONDS, SERIES 1992C, IN THE AMOUNT OF
<br />$1,630,000, AT A TRUE INTEREST RATE OF 4,6870%.
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<br />5 Ayes - 0 Nayes, Motion Carried.
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