HomeMy WebLinkAbout032504 Special16200 Eagle Creek Avenue S.E.
Prior Lake, MN 55372-1714
SPECIAL COUNCIL MEETING MINUTES
March 25, 2004
CALL TO ORDER: The meeting was called to order by Mayor Haugen at 5pm. Present were Mayor Haugen,
Councilmembers Blomberg, Petersen, and LeUair, City Manager Boyles, Fiscal Consultant Mattson and Finance Director
Teschner.
Hau.clen: Announced that the Special Meeting had been noticed in writing to the Prior Lake American, and posted at City
Hall. The purpose of the Special meeting was to consider approval of refunding 1997, 1998 and 1999 bonds.
Mattson: Distributed a summary of the refunding and a proposed resolution. Explained that the refunding included about
$1.385 million in bonds. The bid coupon rate of the bonds is 1.847%. The refunding will yield a net savings to the City
taxpayers of $44,004.27 or 3.003%.
MOTION BY PETERSEN, SECOND BY LEMAIR, TO ADOPTE RESOLUTION 04-55 AUTHORIZING THE ISSUANCE AND
SALE OF $1.385 MILLION GENERAL OBLIGATION IMPROVEMENT CROSSOVER REFUNDING BONDS OF 2004,
PLEDGING FOR THE SECURITY THEREOF, SPECIAL ASSESSMENTS AND LEVYING A TAX FOR THE PAYMENT
THEREOF.
VOTE: Ayes by Haugen, Blomberg, Petersen and LeMair, the motion carded.
A motiOn to adjourn was made and seconded. The meeting adjourned at 5:10pm.
Frank Boyles, City Manager
www. cityofpriorlake, com
Phone 952.447.4230 / Fax 952.447.4245