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<br />. <br /> <br />. <br /> <br />. <br /> <br />3. <br /> <br />4. <br /> <br />5. <br /> <br />SPECIAL MEETING OF THE ELK RIVER CITY COUNCIL <br />HELD AT THE ELK RIVER CITY HALL <br />TUESDAY, SEPTEMBER 7, 1993 <br /> <br />Members Present: <br /> <br />Mayor Duitsman, Councilmembers Scheel and Holmgren <br /> <br />Members Absent: <br /> <br />Councilmembers Dietz and Farber <br /> <br />Staff Present: <br /> <br />Pat Klaers, City Administrator and Lori Johnson, <br />Finance Director <br /> <br />1. Call Meeting To Order <br /> <br />Pursuant to due call and notice thereof, the meeting of the Elk River <br />City Council was called to order at 4:55 p.m. by Mayor Duitsman. <br /> <br />2. Consider 9/7/93 City Council Agenda <br /> <br />COUNCILMEMBER SCHEEL MOVED TO APPROVE THE 9/7/93 CITY COUNCIL AGENDA. <br />COUNCILMEMBER HOLMGREN SECONDED THE MOTION. THE MOTION CARRIED 3-0. <br /> <br />Consider 8/30/93 City Council Minutes <br /> <br />COUNCILMEMBER HOLMGREN MOVED TO APPROVE THE 8/30/93 CITY COUNCIL <br />MINUTES. COUNCILMEMBER SCHEEL SECONDED THE MOTION. THE MOTION CARRIED <br />3-0. <br /> <br />Consider Resolution Providing for the Issuance and Sale of the City's <br />$3,525,000 General Obligation Permanent Improvement Revolving Loan Fund <br />Bond Series 1993B <br /> <br />Lori Johnson, Finance Director, indicated that bids had been received <br />for $3,525,000 in General Permanent Improvement Revolving Fund Bonds. <br />She introduced David Drown of Springs~ed, Inc., who presented the bid <br />results. He indicated that nine bids had been received and the low <br />bidder was FBS Investments Services, Inc., with an interest rate of <br />4.2999 percent. <br /> <br />COUNCILMEMBER HOLMGREN MOVED TO ADOPT RESOLUTION 93-43 PROVIDING FOR <br />THE ISSUANCE AND SALE OF THE CITY'S $3,525,000 GENERAL OBLIGATION <br />IMPROVEMENT REVOLVING LOAN FUND BOND SERIES 1993B. COUNCILMEMBER <br />SCHEEL SECONDED THE MOTION. THE MOTION CARRIED 3-0. <br /> <br />Consider Resolution De~ermining Cost to be Assessed and Ordering the <br />Preparation of the Assessment Roll for the Fresno Street Improvement <br />Project <br /> <br />Lori Johnson indicated that the Fresno Street assessment hearing is <br />planned for September 27th. She further indicated that due to the <br />favorable interest rate on the bonds which were just sold, the interest <br />rate on the assessments will be 5.75 percent not 6.5 percent which is <br />shown in the resolution. Councilmember Scheel questioned whether the <br />