HomeMy WebLinkAbout08.08.83 Council Minutes
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MINUTES
COUNCIL MEETING
SPECIAL
AUGUST 8, 1983
1. The meeting was called to order by Mayor Akin at 4:30 P.M.
Present: Akin, Cook, Kelly, Orr, Sprute.
Absent: None
Also Present: Administrator Thompson, Attorney Gorgos.
2. The purpose of the meeting was to consider awarding the sale of $280,000
Grant Anticipation Bonds.
3. Administrator Thompson informed the Council that the Cityls fiscal consultant
had contacted the various agencies involved in the sewer rehabilitaion grant, and
was satisfied that the City would receive the grant. Therefore, he had recommended
that the City Council could award the sale of the bond. Mr. Thompson stated that
because of the delay in the bond sale, the low bidder had withdrawn its bid of
6.24% and the City could award the sale to the next low bidder which was First
National Bank of Minneapolis at 6.69%. Mr. Thompson stated that this would cost
the City an additional $1,260. Attorney Gorgos stated that it was legal to award
the bid to the second lowest bidder if the lowest bidder had withdrawn its bid.
Mayor Akin stated that while the City should award the sale tonight, an investigation
should be made regarding who is at fault with the bid delay.
4. Motion by Akin, second by Kelly to adopt Resolution No. R61-83 directing the
Administrator to investigate the delay in the construction bid opening and Grant
Anticipation Bond Sale for the sewer rehabilitation project. APIF, motion carried.
5. Motion by Orr, second by Sprute to adopt Resolution No. R62-83 authorizing
issuance, ordering sale, prescribing the form and details and providing for the
payment of $280,000 Grant Anticipation Bonds of 1983. APIF, motion carried.
6. The Council adjourned at 5:00 P.M.
Respectfully submitted,
Approved:
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