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<br /> <br /> <br /> <br />~ <br /> <br />SPECIAL MEETING <br />OF THE ELK RIVER CITY COUNCIL <br />HELD AT THE ELK RIVER CITY HALL <br />MAY 6, 1981 <br /> <br />Members Present: Mayor Hinkle, Councilmembers Schuldt, Engstrom, Toth and <br />Duitsman <br /> <br />Members Absent: None <br /> <br />1. The meeting was called to order at 7:30 p.m. by Mayor Hinkle. <br /> <br />2. Review of Engineering Fees for Sewer Interceptor Project <br /> <br />Mr. Chuck Wilson and Mr. Lyle Swanson were present to discuss the $129,000 <br />estimated engineering fees for the sewer interceptor project. Mr. Chuck <br />Wilson indicated that the estimated fees consisted of: <br /> <br />$47,000 - note at 7% interest <br />18,000 - interest through May 31, 1981 <br />26,000 costs for additional engineering due to changes from original plans <br />5,500 - administration costs - general conditions - grant application costs <br />20,000 - resident inspections - estimate of a full time inspector 4~ months <br />12,000 - extra services - site surveys, lab tests, property surveys, re- <br />design orders, construction staking <br />1,000 - operations manual for lift station <br /> <br />$129,500 <br /> <br />Mr. Wilson indicated that McCombs-Knutson was able to use approximately 42% of <br />the previous plans. Mr. Swanson indicated that the costs for inspections and <br />the operation manual could possibly be reduced dependent upon the length of time <br />needed for the.construction of the project. <br /> <br />It was indicated by Mr. Wilson that the payout schedule to the contractor and <br />engineer would be on a monthly basis estimating the payouts to be approximately <br />July, August, September and October. <br /> <br />Discussion was carried on regarding the design of the project through the Dietz <br />property. It was recommended by Mr. Swanson that Councilman Toth discuss the <br />routing of the sewer interceptor project with Mr. Dietz and Mr. Swanson. <br /> <br />3. Review of Springsted Recommendations for Bond Sale <br /> <br />Mr. King Forness of Springsted, Inc. was present to review the recommendations <br />proposed for bond repayment. <br /> <br />Mr. Forness reviewed the 1st recommendation of a 20 year bond repayment schedule <br />and indicated that a recall could not be built in before a 10T12 year period with- <br />out severe interest costs. Mr. Forness also reviewed the 2nd option of a short <br />