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1999-07-20 CC Minutes Special . . . ALBERTVILLE CITY COUNCIL SPECIAL MEETING July 20, 1999 Albertville City Hall 5:00 PM PRESENT: Mayor John Olson, Councilmembers Patti Stalberger, Duane Berning and John Vetsch, Administrator-Clerk Linda Goeb, and City Attorney Mike Couri Mayor Olson called the special meeting to order. Vetsch made a motion to approve the agenda as presented. Stalberger seconded the motion. All voted aye. Berning made a motion to adopt RESOLUTION #1999-37 titled DECLARING THE OFFICIAL INTENT OF THE CITY OF ALBERTVILLE TO REIMBURSE CERTAIN EXPENDITURES FROM THE PROCEEDS OF BONDS TO BE ISSUED BY THE CITY. Stalberger seconded the motion. All voted aye. Paul Donna from Springsted Inc. reviewed the bid tabulations for the sale of$I,760,000 GO Improvement Bonds. The bonds are a 15 year issue and will be repaid through a combination of special assessments and trunk WAC fees. Donna reported that U.S. Bancorp - Piper Jaffrey, Inc. is the low bidder with a true interest rate of 4.9039%. Vetsch made a motion to adopt RESOLUTION #1999-38 titled A RESOLUTION AWARDING THE SALE OF $1,760,000 GENERAL OBLIGATION IMPROVEMENT BONDS, SERIES 1999A, FIXING THEIR FORM AND SPECIFICATIONS; DIRECTING THEIR EXECUTION AND DELIVERY; AND PROVIDING FOR THEIR PAYMENT. Stalberger seconded the motion. All voted aye. City Attorney Couri explained the steps involved to provide for the lease- purchase of the new fire hall. Vetsch made a motion to adopt RESOLUTION #1999-39 titled RESOLUTION AUTHORIZING THE EXECUTION AND DELIVERY OF A GROUND LEASE AND A LEASE-PURCHASE AGREEMENT, AND APPROVING AND AUTHORIZING ISSUANCE OF LEASE REVENUE . ALBERTVILLE CITY COUNCIL SPECIAL MEETING July 20, 1999 Page 2 of2 BONDS AND EXECUTION OF RELATED DOCUMENTS. Stalberger seconded the motion. All voted aye. Berning made a motion to accept the resignation of Rod Fraser from the Albertville Economic Development Authority effective immediately. Stalberger seconded the motion. All voted aye. Stalberger made a motion to adjourn at 5:25 PM. Berning seconded the motion. All voted aye. . /- / ( /-. ,1/ I. .' / _ ...... ''--f- ..' ..' '-.<- /~/. /V,-/L1 ."'- /~~/I:.-- . ~ -~ Linda Goeb, Administrator-Clerk .