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Elk River City Council Minutes <br />July 28, 1997 <br /> <br />Page 3 <br /> <br />4.3. <br /> <br />4.5. <br /> <br />4.6. <br /> <br />4.7. <br /> <br />Consider Resolution Providinq for the Issuance and Sale of the City's $1,165,000 <br />General Obliqation Improvement Bonds, Series 1997A <br />Consider Resolution Providincl for the Issuance and Sale of the City's $335,000 <br />General Obligation Water Revenue Bonds, Series 1997B <br /> <br />Lori Johnson, Finance Director, indicated that the City is being requested to <br />consider awarding the sale of General Obligation Improvement Bonds and <br />General Obligation Water Revenue Bonds. Lori Johnson indicated that the <br />interest rates were exceptionally Iow which will result in the special assessment <br />rates being lowered. Dave MacGillivray of Springsted reviewed the bid results <br />from these sales and recommended that the Council award the sales to the <br />lowest bidders. <br /> <br />Dave MacGillivray also indicated that the City's credit rating has been reviewed <br />by Moody's and the city has received a credit rating of BAA1. <br /> <br />COUNCILMEMBER HOLMGREN MOVED TO APPROVE RESOLUTION 97-68 PROVIDING <br />FOR THE ISSUANCE AND SALE OF THE CITY'S $1,165,000 GENERAL OBLIGATION <br />IMPROVEMENT BONDS, SERIES 1997A. COUNCILMEMBER FARBER SECONDED THE <br />MOTION. THE MOTION CARRIED 5-0. <br /> <br />COUNCILMEMBER FARBER MOVED TO APPROVE RESOLUTION 97-69 PROVIDING FOR <br />THE ISSUANCE AND SALE OF THE CITY'S $335,000 GENERAL OBLIGATION WATER <br />REVENUE BONDS, SERIES 1997B. COUNCILMEMBER HOLMGREN SECONDED THE <br />MOTION. THE MOTION CARRIED 5-0. <br /> <br />Consider Request to Advertise for Buildinq Inspector Position <br /> <br />City Administrator Pat Klaers indicated that the number one priority for this <br />employee will be the housing program, however, the employee will provide <br />assistance to the building inspectors during peak construction times in the <br />summer. <br /> <br />COUNCILMEMBER THOMPSON MOVED TO AUTHORIZE THE ADVERTISEMENT FOR THE <br />BUILDING INSPECTOR POSITION. COUNCILMEMBER HOLMGREN SECONDED THE <br />MOTION. THE MOTION CARRIED 5-0. <br /> <br />Consider Siqna.qe Quote for the Northbound Liquor Store Project <br /> <br />City Administrator Pat Klaers indicated that following a site visit and study of <br />signage for the liquor store, staff is recommending the purchase of a LED reader <br />board. He recommended the council award the bid for signage to Sign Solutions <br />for a LED reader board in the amount of $15, 414. <br /> <br />COUNCILMEMBER FARBER MOVED TO AWARD THE BID FOR THE LED READER BOARD <br />SIGN TO SIGN SOLUTIONS IN THE AMOUNT OF $15,414. COUNCILMEMBER <br />HOLMGREN SECONDED THE MOTION. THE MOTION CARRIED 5-0. <br /> <br />Phoenix Enterprises Request for Preliminary Plat (Hillside Crossinq South Two) Case <br />No. P 97-7 (Continued from 7/21/97 City Council Meetin.q) <br /> <br />City Planner Steve Ach recommended that this issue be continued due to an <br />error in property owner notification. <br /> <br /> <br />