10-17-1991 EDA MIN - Laserfiche WebLink

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. . . MEETING OF THE ELK RIVER ECONOMIC DEVELOPMENT AUTHORITY HELD AT THE ELK RIVER CITY HALL THURSDAY, OCTOBER 17, 1991 Members Present: President Gongoll, Commissioners Schuldt, Holmgren, Tralle, Dietz, Kropuenske and Dwyer Members Absent: None Staff Present: Pat Klaers, Executive Director; Bill Rubin, Economic Development Coordinator; Lori Johnson, Finance Director; Sandra Thackeray, City Clerk 1. Call Meetin~ To Order Pursuant to due call and notice thereof, the meeting of the Economic Development Authority was called to order by President Gongoll at 7:35 p.m. 2. Consider 10/17/91 Economic Development Authority A~enda COMMISSIONER HOLMGREN MOVED TO APPROVE THE 10/17/91 EDA AGENDA. COMMISSIONER SCHULDT SECONDED THE MOTION. THE MOTION CARRIED 7-0. 3. Consider 9/9/91 Economic Development Authority Minutes The following corrections were made to the EDA minutes: 1.) Page 1, Dobel was changed to Dietz 2.) Page 4, $35.00 was changed to $85.00 3.) Page 4, "hole in the ground" changed to EDA Main Street Site COMMISSIONER TRALLE MOVED TO APPROVE THE 9/9/91 EDA MINUTES AS CORRECTED. COMMISSIONER KROPUENSKE SECONDED THE MOTION. THE MOTION CARRIED 7-0. 4. Open Mike No one appeared for this item. 5. Financial Update Finance Director, Lori Johnson, explained that the Revolving Loan Fund has a cash balance of $169,781. She stated that as of September 30, all loan payments are current. 6. Consider Bid Award/City Hall and Law Enforcement Facili tv Revenue Bond Series 1991 Rusty Fifield, Springsted Incorporated, and Sherrill Oman, Bond Counsel from Larkin, Hoffman, were in attendance. Rusty Fifield indicated that the EDA received three bids on the bond sale. He stated that the low bidder was Edward D. .Jones & Company with a net interest cost of