08-17-1981 CC MIN - Laserfiche WebLink

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August 17, 1981 Page Two projects included in the improvement bond sale at a rate of 13 percent, which is the maximum authorized by state statute, in order for the assessment in- come projected in the bond program to be viable. COUNCILMAN TOTH MOVED TO AWARD THE BID FOR THE 1981 IMPROVEMENT BOND SALE TO THE FIRST NATIONAL BANK OF MINNEAPOLIS AT A NET EFFECTIVE INTEREST OF 11.4046 PERCENT. COUNCILMAN SCHULDT SECONDED THE MOTION. THE MOTION PAS SED 3-0. Councilman Duitsman questioned what the impact on the bond program would be if one of the projects were not to be ordered by the City Council. Mr. For- ness indicated that typically money bonded for and not utilized would be placed into a debt redemption fund and utilized to pay back bond costs and as such would not pose a problem. 5~. Elk Hills Drive Tutn Lane Construction and Road Repair Terry Mauer of Consulting Engineers Diversified, presented a memo to the City Council summarizing costs obtained for constructing a turn lane on Elk Hills Drive at the intersection of Highway #169 and for repairing a dip in the road at the same approximate location. Mr. Mauer indicated that the $3,476.50 for repairing the road surface that now exists, assumed that the Cityfuaintenance crew would do all work on the project except the actual blacktop surface installation. Mr. Mauer indicated that the cost of constructing the turn lane, an approximate additional $5,000, assuming that fill would be available from the Barrington Place Addition, which is adjacent to the road in question. It was the Council's concensus that at the price quoted, the turn lane construction, while desirable, was too expensive to pursue at this time. COUNCILMAN DUITSMAN MOVED APPROVAL OF THE ROAD REPAIR IN THE AMOUNT OF $3,476.50 WITH THE UNDERSTANDING THAT THE PROJECT. COST WAS TO.BEEQUALLY SPLIT J:JY tll.'E....'OITY AND THE DEVELOPER OF BARRINGTON PLACE, MR. GARY SANTW'IRE.. COUNCILMAN T TH SECONDED THE MOTION. THE MOTION PASSED 3-0. 6. Barrington Place Improvements The City Administrator informed the Council that the bonds sold earlier in the evening included costs to pay for the improvements associated with the Barring- ton Place Subdivision. The Administrator indicated that the project was initiated by a 100 percent petition which was in proper order and as such recommended that the City Council order that the improvement be constructed and award the bid to the low bidder. COUNCILMAN DUITSMAN MOVED TO ADOPT RESOLUTION 81-35, ORDERING THE COMPLETION OF THE BARRINGTON PLACE IMPROVEMENTS AND AWARDING THE BID FOR PHASE TWO OF THE CONSTRUCTION TO HBH, INC. IN THE AMOUNT OF $136,678.75. COUNCILMAN SCHULDT SECONDED THE.MOTION. THE MOTION PASSED. 4-0. 7. Greenhead Acres 3rdAdditionlmprovements The City Administrator informed the Council that the bonds sold earlier in the evening included funds to pay for the costs if improvements to the Greenhead Acres 3rd Addition. The Administrator informed the Council that the project