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<br />MINUTES OF THE ELK RIVER CITY COUNCIL <br />HELD AT THE ELK RIVER CITY HALL <br />MONDAY. APRIL 18. 1988 <br /> <br />e <br /> <br />MEMBERS PRESENT: Mayor Gunkel. Council Members Dobel. Tralle. and Schuldt. <br />Councilmember Holmgren arrived at 7:04 p.m. <br /> <br />MEMBERS ABSENT: None <br /> <br />ALSO PRESENT: <br /> <br />Lori Johnson. Finance Director; Arlon Fuchs. Planning <br />Commission Representative; Rita Johnson. Planning Commission <br />Representative; Dick Fursman. Economic Development <br />Coordinator; Pat Klaers. City Administrator; Stephen Rohlf. <br />Building and Zoning Administrator; and Bob Thistle. Fiscal <br />Consultant <br /> <br />1. Pursuant to due call and notice thereof. the meeting of the Elk River <br />City Council was called to order by Mayor Gunkel at 7:00 p.m. <br /> <br />2. Consider 4/18/88 City Council Agenda <br /> <br />Items 8.2 - Theatre sign. 8.3 - City Administrator Update and 8.4 - Mayor <br />Gunkel were added to the agenda and item 3.1 was deleted. <br /> <br />COUNCILMEMBER SCHULDT MOVED TO APPROVE THE 4/18/88 CITY COUNCIL AGENDA AS <br />AMENDED. COUNCILMEMBER DOBEL SECONDED THE MOTION. THE MOTION CARRIED <br />4-0. <br /> <br />~ 3.2. Consider 4/4/88 City Council Minutes <br /> <br />COUNCILMEMBER TRALLE MOVED TO APPROVE THE 4/4/88 CITY COUNCIL MINUTES AS <br />PRESENTED. COUNCILMEMBERDOBEL SECONDED THE MOTION. THE MOTION CARRIED <br />4-0. <br /> <br />4. Open Mike <br /> <br />There was no one present for this item. <br /> <br />5.1. Award 1988 Improvement Bonds <br /> <br />Councilmember Holmgren arrived at this time (7:04 p.m.). <br /> <br />Mr. Bob Thistle. of Springstead Incorporated. indicated the City had <br />$1.180.000 in bonds up for bid. He indicated that ten bidders placed <br />bids on the bonds and the lowest bidder was First National Bank <br />Associates with a net interest rate of 6.2347%. Mr. Thistle recommended <br />that the City Council accept the low bid of the First National Bank <br />Associates. <br /> <br />e <br /> <br />COUNCILMEMBER SCHULDT MOVED TO ADOPT RESOLUTION 88-28. A RESOLUTION <br />AUTHORIZING ISSUANCE. AWARDING SALE TO FIRST NATIONAL BANK ASSOCIATES <br />PRESCRIBING THE FORM AND DETAILS AND PROVIDING FOR THE PAYMENT OF <br />$1.180.000 GENERAL OBLIGATION IMPROVEMENT BONDS. SERIES 1988A. <br />COUNCILMEMBER TRALLE SECONDED THE MOTION. THE MOTION CARRIED 5-0. <br /> <br />5.2. Water Tower Project/Final Payment <br />Mayor Gunkel indicated that the City has been carrying a retainer of <br />$2.500 on the water tower project due to the fact that seeding has not <br />