08-19-2019 CCM - Laserfiche WebLink

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City Council Minutes August 19, 2019 Page 4 Acting Mayor Westgaard opened the public hearing. There being no one to speak to this issue, Acting Mayor Westgaard closed the public hearing. Moved by Councilmember Wagner and seconded by Councilmember Ovall to adopt Ordinance 19-16 amending Section 30-879, Residential Districts, of the City of Elk River, Minnesota, City Code. Motion carried 4-0. 7.5 Ordinance Amendment: Warehouse Uses in the Business Park Zoning District Mr. Carlton presented the staff report. Acting Mayor Westgaard opened the public hearing. There being no one to speak to this issue, Acting Mayor Westgaard closed the public hearing. Council consensus is for no change to the zoning ordinance in regards to warehousing in the Business Park District noting there is not a need for additional warehouse use across the city. 6.1 City of Elk River Volunteer of the Month Acting Mayor Westgaard presented the August Volunteer of the Month award to Nancy Arnold. He highlighted the following: ■ Independence Elementary in Big Lake after school reading program volunteer. ■ Regular volunteer at Zimmerman Elementary. ■ Volunteer for Big Lake food shelf. • Participant in foster grandparents program through Americorp. " Set up fall festival service program with Camp Courageous from Monticello Iowa. 8.1 Resolution Awarding Sale of $33,735,000 General Obligation Sales Tax Revenue Bonds, Series 2019A Ms. Ziemer presented the staff report. Terry Heaton, Baker Tilly, provided results of the city credit rating and bond sale. She noted the True Interest Cost would be 2.3954%, which would save the city a lot of money in interest costs. She stated the city would be issuing $32,715,000. She discussed the city's credit rating of AA+ noting it is the second highest rating a city can obtain. There was discussion about what would happen if the city was short or had overages in sales taxes. P 0 w 1 a E I d I NA TURA