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SPECIAL MEETING OF THE ELK RIVER <br /> ECONOMIC DEVELOPMENT AUTHORITY <br /> HELD AT THE ELK RIVER CITY HALL <br /> MONDAY, FEBRUARY 4, 20I 3 <br /> Members Present: Commissioners Dwyer,Motin,Burandt,and Westgaard <br /> Members Absent: President Tveite and Provo <br /> Staff Present: Community Operations and Development Director Suzanne Fischer, <br /> Assistant Director of Economic Development Clay Wilfahrt,Finance <br /> Director Tim Simon,and Senior Administrative Assistant Jennifer Johnson <br /> 1. Call Meeting To Order <br /> Pursuant to due call and notice thereof,the meeting of the Economic Development <br /> Authority was called to order at 6:00 p.m.by Acting President Dwyer. <br /> 2. Consider Resolution Authorizing the Issuance of General Obligation Refunding Bonds, <br /> Series 2013A <br /> Mr.Simon presented the staff report.Mark Ruff of Ehlers and Associates was present to <br /> present the results of the January 15,2012,Sale Report,included in the staff report.He <br /> explained the benefits and cost savings of issuing the refunding bonds,and along with the <br /> • city's AA+ rating from Standard and Poor's,provided a very efficient rate of refinancing, <br /> allowing for an interest savings of over$1 million dollars. <br /> MOVED BY COMMISSIONER MOTIN AND SECONDED BY <br /> COMMISSIONER WESTGAARD TO ADOPT RESOLUTION #13-01 <br /> AUTHORIZING THE ISSUANCE OF GENERAL OBLIGATION REFUNDING <br /> BONDS,SERIES 2013A,PROVIDING FOR THEIR ISSUANCE,AND LEVYING <br /> A TAX FOR THE PAYMENT THEREOF. MOTION CARRIED 4-0. <br /> 3. Adjournment <br /> There being no other business,Acting President Dwyer adjourned the special meeting of the <br /> Elk River Economic Development Authority at 6:11 p.m. <br /> Minutes prepared by Jennifer Johnson. <br /> Dan Tveite,President <br /> Tina Allard, City Clerk <br /> • <br />