HomeMy WebLinkAbout07.13.81 Special Council Minutes
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MINUTES
COUNCil MEETING
SPECIAL
JULY 13, 1981
1. The meeting was called to order by the Mayor at 7:00 P.M.
Present: Mayor Stegmaier, Councilmembers Cook, Kelly, and Orr
Absent: Councilmember Kuchera
Also present: Administrator Ford
2. The minutes of June 18, and June 22, 1981 were deferred.
3. Mr. Ron Langness, Bond Consultant from Springsted, Inc., informed the council
that he had brought with him five bids on the sale of bonds for the City. Public
notice of which had been published earlier. He informed the council that the city
had applied for and received from Moody's rating bureau, a municipal bond rating
Baa which is the same rating the city acquired when last rated. Mr. Langness then
opened the sealed bids and presented them to the council as follows:
NET INTEREST
DOLLAR COST
516,721.15
530,109.95
533,227.50
533,269.65
534,940.00
Piper, Jaffray & Hopwood
1st Bank of St. Paul
Amer Natl Bank and Trust
Dain Bosworth
Banc Northwest
NET INTEREST
10.6815
10.9583
11.0220
11. 0236
11 .0581
RATE
Mr. langness recommended that the City award the sale of bonds to Piper, Jaffray
and Hopwood. At that point the council inquired of the City Administrator as to
the compliance conditions previously set forth by the council and the Administrator
informed them as follows:
a) That the plat of Fair Hills 2nd Addition has been deposited with the
Register of Deeds at Dakota County and the necessary resolution, vacating
easements has also been submitted to them and that all impediments against
fi 1 ing the plat have now been removed and it should be fi led timely.
b) The legal descriptions of all required easements has been received from
the City Engineer and have been incorporated into grant of easement
documents by the City Attorney.
c) The Administrator, on this day, talked with the banker for Felix Tillges
who is furnishing the surety, and informed the Administrator that surety
check was at the bank and the signed developer agreement was at the bank
and would be in the City Administrator's office by noon the following day.
Motion by Kelly, second by Orr to adopt RESOLUTION NO. R47-81 Authorizing Issuance,
Awarding Sale, Prescribing the Form and Details and providing for the Payment of
$565,000 General Obligation Improvement Bonds of 1981. APIF, motion carried.
4. Motion by Orr, second by Kelly to adopt RESOLUTION NO. R48-81 Authorizing and
directing the execution of construction contracts by the City representatives.
APIF, motion carried.
5. The council was then informed that City Hall had received requests by certain
individuals to be placed on the Agenda of July 20, 1981. These individuals were
requesting to be on the agenda in connection with the recent Franke Cup party
incident and the resulting Farmington Police Action which was taken. The City
Attorney advised the council that perhaps this might not be the prudent thing
to do since there were several pending court actions resulting from that
incident. The members of the council then discussed the matter thoroughly
among themselves. Motion by Orr, second by Kelly that the Administrator
be directed not to include on a future agenda items of this nature and that
he advise anyone seeking to be on the agenda to instead, submit to the City
in a signed statement, their comments, criticisms and complalntswhich would
then be dealt with administratively first, and there being no satisfaction
at that point, subsequently by the council. Voting for: Cook, Kelly, Orr.
Voting against: Stegmaier. Absent: Kuchera. Motion carried.
6. Motion made and seconded to adjourn at 8:25 P.M.
Respectful ly sUbmitted~'
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Wi II iam J. Ford
City Administrator
APPROVED
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