05-04-1992 CC MIN - Laserfiche WebLink

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City Council Minutes May 4, 1992 Page 4 ~ 6.1. Resolution Setting Bond Sale Date Series 1992A G.O. Bonds and 1992B G.O. State Aid Road Bonds Lori Johnson, Finance Director, indicated that the City is requesting to sell G.O. Improvement Bonds in the amount of $3,445,000 for the Westwood Area and Western Area Improvement Projects. Rusty Fifield, from Springsted, Inc. was present to discuss the proposed General Obligation Improvement Bonds. Rusty explained that the $2,350,000 General Obligation Improvement Bond was for the Western Area and Westwood Area improvement projects. He indicated that special assessment revenues would be used for repayment of the debt. Rusty Fifield further explained that the second General Obligation State Aid Road Bond was in the amount of $1,095,000. He indicated that this bond is used to cover the MSA portions of the Western Area Project, the Main Street Bridge replacement, intersection improvements at Highway 169 and Main Street, and intersection signalization at 193rd and Main Street. COUNCILMEMBER DIETZ MOVED TO ADOPT RESOLUTION 92-35, A RESOLUTION AUTHORIZING THE ISSUANCE AND SALE OF $2,350,000 IN GENERAL OBLIGATION IMPROVEMENT BOND SERIES 1992A. COUNCILMEMBER KROPUENSKE SECONDED THE MOTION. THE MOTION CARRIED 3-0. ~ COUNCILMEMBER KROPUENSKE MOVED TO ADOPT RESOLUTION 92-36, A RESOLUTION AUTHORIZING THE ISSUANCE AND SALE OF $1,09~,000 GENERAL OBLIGATION STATE AID ROAD BOND SERIES 1992B. COUNCILMEMBER DIETZ SECONDED THE MOTION. THE MOTION CARRIED 3-0. 6.2. Highway 101 The City Administrator indicated that MnDOT has submitted material for Council review relating to the Highway 101 improvement project. He stated that the project is ready to move forward and that MnDOT is requesting the City Council to adopt a resolution which approves the preliminary layout for the improvements. The City Administrator indicated that Terry Maurer has recommended that the Council adopt the resolution with the stipulation that one more discussion be held with MnDOT to indicate the City's concern regarding the design of the highway. The Council reviewed this traffic safety concern as outlined in a May 4, 1992 memo from the City Engineer. COUNCILMEMBER DIETZ MOVED TO ADOPT RESOLUTION 92-37, A RESOLUTION AUTHORIZING LAYOUT APPROVAL FOR HIGHWAY 101 WITH THE STIPULATION THAT THE CITY DISCUSS THE REMAINING ELK RIVER HIGHWAY DESIGN CONCERN WITH MNDOT. COUNCILMEMBER KROPUENSKE SECONDED THE MOTION. THE MOTION CARRIED 3-0. 6.3. Blandin Foundation Information ~ The City Administrator stated that the County has received a $60,000 leadership grant from the Blandin Foundation. The purpose of the program is to strengthen rural communities through improved team leadership. It was the consensus of the Council to offer the opportunity to members of City staff who are interested to attend.