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<br />e <br /> <br />e <br /> <br />e <br /> <br />MEETING OF THE ELK RIVER CITY COUNCIL <br />HELD AT THE ELK RIVER PUBLIC LIBRARY <br />MONDAY, NOVEMBER 6, 1989 <br /> <br />MEMBERS PRESENT: <br /> <br />Mayor Tralle, Councilmembers Dobel, Kropuenske, Schuldt, <br />and Holmgren <br /> <br />MEMBERS ABSENT: <br /> <br />None <br /> <br />STAFF PRESENT: <br /> <br />Patrick Klaers, City Administrator; Lori Johnson, Finance <br />Director; and Dave MacGillivray, Bond Consultant <br /> <br />1. Call Meetin~ to Order <br /> <br />Pursuant to due call and notice thereof, the meeting of the Elk River <br />City Council was called to order by Mayor Tralle at 7:25 p.m. <br /> <br />2. Consider 11/6/89 City Council A~enda <br /> <br />Item 11.1 - Pull tab license for American Legion was added to the <br />agenda. <br /> <br />COUNCILMEMBER DOBEL MOVED TO APPROVE THE 11/6/89 CITY COUNCIL AGENDA <br />AS AMENDED. COUNCILMEMBER SCHULDT SECONDED THE MOTION. THE MOTION <br />CARRIED 5-0. <br /> <br />3. <br /> <br />Consider 10/30/89 City Council Minutes <br /> <br />COUNCILMEMBER KROPUENSKE MOVED TO APPROVE THE 10/30/89 CITY COUNCIL <br />MINUTES. COUNCILMEMBER HOLMGREN SECONDED THE MOTION. THE MOTION <br />CARRIED 5-0. <br /> <br />4. Open Mike <br /> <br />There was no one present for this item. <br /> <br />5. <br /> <br />Sale of Bonds <br /> <br />Dave MacGillivray, from Springsted, indicated that he had the results <br />of the bid opening for the sale of $890,000 of TIF and Fire Equipment <br />bonds. Mr. MacGillivray stated that he received five bids for the <br />the $410,000 General Obligation Taxable Tax Increment Bond, the <br />lowest of which was from Miller, Johnson, and Kuehn Inc. at an <br />interest rate of 9.3051%. Mr. MacGillivray further indicated that he <br />received eight bids for the sale of the $480,000 General Obligation <br />Fire Equipment Bond, the lowest of which was from Cronin and Company <br />Incorporated at an interest rate of 6.6980%. Mr. MacGillivray <br />recommended awarding the'bids to the low bidders. <br />