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Daryl Thompson moved to approve the Consent Agenda as follows: <br /> 2.1 January Check Register <br /> 2.2 January 14,2014 Previous Meeting Minutes <br /> 2.3 Financial Statements <br /> Al Nadeau seconded the motion. Motion carried 3-0. <br /> 3.0 OPEN MIC <br /> No one appeared for open mic. <br /> 4.0 OLD BUSINESS <br /> 4.1 Resolution for Award of Bonds 2014A Electric <br /> At the January 14`h meeting, the Commission passed a resolution to proceed with <br /> refunding the bond 2006A issue and the City Council passed it at the January 21s`meeting. At <br /> that time it was identified that the award of the bonds by the commission would come back and <br /> be on the February 11th agenda. <br /> Terri Heaton was present from Springsted Incorporated. Related to the refunding bonds, <br /> utility staff, along with staff from the City of Elk River and Springsted, had a rating call for <br /> ERMU on February 3rd. Moody's issued an Aa3 rating result on February 7th. The last rating <br /> result ERMU had was an A2 so this was a drastic increase. Tern Heaton said that it is rare to <br /> have a utility rated so high. Staff did an excellent job preparing for the rating call. <br /> The bond was sold the morning of the commission meeting. Terri Heaton said that six <br /> financial entities bid on the $2,125,000 bond. The low bid came from UBS Financial Services, <br /> Inc. The savings on the bond will end up being about $222,000. John Dietz asked a few <br /> questions, staff responded. <br /> Al Nadeau made a motion to approve the resolution and award the bid to UBS Financial <br /> Services, Inc. as the low bidder. Daryl Thompson seconded the motion. Motion carried 3-0. <br /> 5.0 NEW BUSINESS <br /> 5.1 2013 Annual Safety Report <br /> Troy Adams presented the 2013 OSHA log. There was only one recorded incident and <br /> zero days lost from work. <br /> Page 2 <br /> Regular meeting of the Elk River Municipal Utilities Commission <br /> February 11,2014 <br />