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ELK RIVER MUNICIPAL UTILITIES <br />SPECIAL MEETING OF THE <br />UTILITIES COMIVIISSION <br />February 6, 2005 <br />Members Present: Jerry Takle, President; John Dietz, Vice Chair <br />Staff Present: Bryan Adams, General Manager; Glenn Sundeen, Line Superintendent; <br />David Berg, Water Superintendent; Theresa Slominski, Office Manager <br />Others Present: Bruce DeJong, Ehlers & Associates; Sid Inman, Ehlers & Associates <br />Members Absent: James Tralle, Trustee <br />1. Call special meeting to order February 6, 2006 <br />President Jerry Takle called the February 6, 2006 meeting to order at 12:00 p.m. <br />2. Bond sale bid presentation <br />Bruce DeJong distributed the Results of Bond Sale and reviewed the information. The <br />bid sale was very successful due to the recent rating of the Municipal Utilities as A2 and <br />therefore qualifying the sale for insurance. The interest rates came in .526% below the <br />projections and so there will be a savings of $105,191.05. <br />John Dietz moved to award the bid to Northland Securities, Inc. and adopt the Resolution <br />Providing For The Issuance And Sale of $3,595,000 Electric Revenue Bonds, Series 2006A <br />and Pledging Net Revenues For the Security Thereof. Jerry Takle seconded the motion. <br />Motion carried 2-0. <br />Jerry Takle moved to adjourn the meeting. John Dietz seconded the motion. Motion <br />carried 2-0. <br />3. Discussion of proposed new healthcare data center <br />Bryan Adams distributed information on the proposed new data center relating to the costs <br />and projected revenues. It was stated that we do not know what the load factor will be and it <br />appears that it will not be a huge money maker for the utilities. It would be a very good move <br />for the City. Bryan will discuss with Lori Johnson and the EDA about sharing the risk <br />associated with this venture should the company decide to leave within a few years. <br />President Jerry Takle adjourned the special meeting of the Elk River Municipal Utilities <br />Commission at 12:10 p.m. <br />Respectfully submitted, _ _ <br />~ ~-G~- <br />Theresa $lominski <br />Finance Director <br />