1986-08-27 CC Minutes Special
CITY OF ALBERTVILLE
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ALBERTVILLE, MINNESOTA 55301
PHONE 497-3384
SPECIAl COUNCIL MEETING
MINUTES
AUGUST 27, 1986
The spec1al meet1ng of the Albertv1lle C1ty Counc1l was called to order
by Act1ng-Mayor Gary Schwenzfe1er. Members present 1ncluded Donald
Corne11us, Bob Braun and Gary Schwenzfe1er, wh1le members Mayor Walsh
and Donatus Vetsch were absent. Others present 1ncluded Maureen Andrews,
Gary Meyer, and Jerry Shannon of Spr1ngstead.
lbe d1scuss10n was opened to the upcom1ng bond sale, Mr. Shannon d1scussed
some of the aspects of the sale. The Clty 1S bond1ng for two d1fferent
proJects, 19B6-1--Beaudry's 2nd Add1t10n and Barthel Res1dent1al Phase
II and 1986-2--Psyk's 4th Addltlon and Barthel Manor. Mr. Shannon expla1ned
that $575,000.00 worth of bonds would need to be sold to cover the costs
of the proJects. I u.
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It was then expla1ned that there had been a problem w1th the pub11catlon
requ1rements under State Statute 429, wh1ch author1zes the C1ty to sell
bonds for street 1mprovements. The problem was that as part of the
requ1rements a NOTICE Of IMPROVEMENT HEARING must be pub11shed tW1ce
not less than 10 days before the hear1ng. Pub11cat10n of both proJects
had only been advert1sed once, therefore the not1ces would have to be
repub11shed and and 1n the case of the 1986-1 Improvement Hear1ng, the
hear1ng would have to be reheld. The hear1ng for 1986-2 had not been
held at th1s pOlnt so lt was cancelled and rescheduled to meet the re-
quuements.
It was declded that t~ lmprovement hear1ngs and the bond sale could be
held the same evening, s~the hearings were scheduled for September 22, 1986.
As part of the d1Scuss10n the Counc11 dec1ded to set the hear1ngs 1n
l5m1nute 1ntervals and if more t1me was needed 1t was agreed that the
hear1ng could be stopped and b1ds be accepted.
Jerry further expla1ned that because the C1ty 1S not rated' by Moody at the
present t1me, tbat we could expect a net 1nterest rate of about 7.24.
Jerry feels that because the C1ty 1S grow1ng we could get a good 1nterest
rate.
The fo1low1ng mot10n were made:
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1. A mot10n was made by Bob Braun and seconded by Don Corne11us to set
the Improvement Hearlng for Beaudry's 2nd Add1tlon and Barthel
Res1dentlal--Phase II for streets, curb and gutter for September 22, 1986
at 7:00 p.m. All were 1n favor and the mot1on passes.
Make our CIty Your CIty
We InVIte Home, Industry, BUSIness
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2. A mot~on was made by Don Cornel~us and seconded by Bob Braun to set
the Improvement Hear~ng for Psyk's 4th Add~t~on and Barthel Manor
and Barthel Maple H~lls for streets, san~tary sewer, and storm sewer
for September 22 at 7:15 p.m. All were ~n favor and the mot~on carr~ed.
3. There was a mot~on made by Don Cornel~us and a second by Bob Braun
to allprove the RESOLUtION CALLING fOR THE PUBLICATION AND NOTICE
Of SALE Of $575,000 GENERAL OBLICATION BONOS, SERIES 1986A set for
7:30 p.m. on September 22, 1986. All were ~n favor and the mot~on
was approved.
Gary Meyer ~nformed the Counc~l that there would be a need to set the
assessment hear~ngs for these proJects at the September 2nd Counc~l
meet~ng.
There was a mot~on to adJourn made by Bob Braun and seconded by Don
Cornel~us. All were ~n favor and the meet~ng was adJourned.
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