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a consistent level of fluoride in the drinking water throughout 2017.He shared that the achievement <br /> of receiving this award is a testament to the attention to detail the water operators demonstrate on a <br /> daily basis. Chair Dietz inquired as to how many water departments receive this award.Mr.Volk <br /> responded that in Minnesota approximately 200 of the 600 possible fluoridating communities are <br /> receiving the award.Ms. Canterbury shared that staff will be promoting this achievement on <br /> ERMU's social media platforms.The Commission congratulated the water department on their <br /> achievement. <br /> 6.2 Bond Recap <br /> Ms. Heaton, Senior Vice President with Springsted,was in attendance and brought cake to celebrate <br /> our bonding issuance and sale that took place on August 29,2018.Ms.Heaton provided an update <br /> on the market and shared that the timing of our bonding couldn't have been better. Since the sale of <br /> the bonds,the interest rates have been climbing up,which would have resulted in$360,000 to <br /> $700,000 in additional interest paid for the life of the bonds. Ms. Heaton touched on ERMU's <br /> Moody's investor rating which contributed to a true interest cost of 3.52%the day of sale,compared <br /> to the index at 4.47%;this resulted in almost a whole percentage point less due to the tremendous <br /> Aa3 rating. Ms.Heaton also went over the factors that could lead to a Moody's rating upgrade. <br /> There was brief discussion on rating upgrades and when they may occur. <br /> 2.0 CONSENT AGENDA(Approved By One Motion) <br /> Moved by Commissioner Nadeau and seconded by Commissioner Westgaard to approve the <br /> Consent Agenda as follows: <br /> 2.1 November Check Register <br /> 2.2 November 13,2018 Regular Meeting Minutes <br /> 2.3 November 13,2018 Closed Meeting Minutes <br /> 2.4 Summary of General Manager Performance Evaluation <br /> 2.5 2019 Official Depository <br /> 2.6 2019 Official Newspaper <br /> 2.7 2019 Utilities Commission Meeting Schedule <br /> Motion carried 5-0. <br /> 3.0 OPEN FORUM <br /> No one appeared for open forum. <br /> 4.0 POLICY& COMPLIANCE <br /> Page 2 <br /> Regular Meeting of the Elk River Municipal Utilities Commission <br /> December 11,2018 <br />