HomeMy WebLinkAbout033103 Special 16200 Eagle Creek Avenue S.E.
Prior Lake, MN 55372-1714
SPECIAL COUNCIL MEETING MINUTES
March 31, 2003 (Spm)
CALL TO ORDER AND PLEDGI~ OF ALLEGIANCE: Present were Mayor Haugen, Councilmembers Blomberg, LeMair,
and Zieska, City Manager Boyles, City Attorney Pace, and Finance Director Teschner. Councilmember Petersen was
absent.
CONSENT AGENDA: NONE.
ITEMS REMOVED FROM THE CONSENT AGENDA: NONE.
PRESENTATIONS: NONE.
PUBLIC HEARINGS: NONE.
OLD BUSINESS: NONE.
NEW BUSINESS:
Consider Approval of a Resolution Authorizing A ward of Bid of $1,975,000 General Obligation Improvement Bonds
of 2003.
Steve Mattson (Northland Securities): Reviewed the City Council rationale for selling bonds. Advised that the terms of the
sale are very favorable with an interest rate of 2.8825% which is $20,000 less than predicted. This will save $2000 per year.
Further explained the resolution and supporting documents discussing the analysis of the bond sale.
MOTION BY ZIESKA, SECOND BY LEMAIR TO APPROVE RESOLUTION 03-44 AUTHORIZING AWARD OF BID OF
$1,975,000 GENERAL OBLIGATION IMPROVEMENT BONDS OF 2003.
VOTE: Ayes by Haugen, Blomberg, LeMair and Zieska, the motion carded.
OTHER BUSINESS I COUNCILMEMBER REPORTS
A motion to adjourn was made and seconded. The meeting adjourned at 5:10 pm.
Frank Boyles~~r
www. cityofpriorlake, com
Phone 952.447.4230 / Fax952.447.4245