HomeMy WebLinkAbout05.27.82 Special Council Minutes
63
MINUTES
COUNC I L MEET! NG
SPEC IAL
MAY 27, 1982
1. The meeting was called to order by the Mayor at 7:00 P.M.
Present: Mayor Stegmaier, Councilmembers Kelly, Kuchera, Orr
Absent: Member Cook
Also Present: City Attorney Gorgos, Deputy Treasurer Henneke
2. Mr. Ron Langness, Bond Consultant with Springsted, Inc., informed the
Council three quotations on the sale of bonds were received as follows:
NET INTEREST NET
BIDDER DOLLAR COST INTEREST RATE
A. M.H. Novick & Co., Inc. $43,133.36 10.4354%
First National Bank of Farmington
B. American National Bank & Trust 44,378.36 10.7366%
Company of St. Pau I
C. The First National Bank of St. Paul 45,296.67 10.9588%
Mr. Langness recommended that the City award the sale of bonds to
M.H. Novick & Co.,lnc. Motion by Orr, second by Kelly to adopt Resolution
No. R18-82 Authorizing the Issuance, Awarding Sale, Prescribing the Form
and Details and providing for the payment of $80,000 General Obligation
Improvement Bonds of 1982. APIF, motion carried.
3. Councilmember Orr stated he has received complaints from property
owners in the Pine Knoll Addition concerning proposed installation of
mobile and/or factory built homes. Other councilmembers stated that
they also had been contacted in this regard and agreed a meeting should
be held with the property owners to discuss this matter. Motion by Orr,
second by Kuchera to hold a special Counci I meeting Thursday, June 3, 1982
at 7:00 P.M. to discuss the above subject. APIF, motion carried.
4. Motion made and seconded to adjourn at 7:25P.M.
Respectfully submitted,
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Wayne E. Henneke
Deputy Treasurer
APPROVED:
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