HomeMy WebLinkAbout08-20-1998 SM MINUTES OF MAPLEWOOD CITY COUNCIL
SPECIAL MEETING
5:00 P.M., Thursday, August 20, 1998
Maplewood Room
Meeting No 98-18
A. CALL TO ORDER
B. PLEDGE OF ALLEGIANCE
C. ROLL CALL
George F. Rossbach, Mayor Present
Sherry Allenspach, Councilmember Present
Dale H. Carlson, Councilmember Present
Kevin Kittridge, Councilmember Present
Marvin C. Koppen, Councilmember Present
D. APPROVAL OF AGENDA
Mayor Rossbach moved to approve the Agenda as submitted.
Seconded by Councilmember Allenspach Ayes -All
E. AWARD OF BIDS
1. 1998 G.O. Improvement Bonds
a. Manager McGuire presented the staff report.
b. Director of Finance Faust introduced Dan Hartman of Springsted, Incorporated, who
presented the specifics of the bids and made a recommendation regarding the bid
awards.
Mayor Rossbach introduced the Resolution and moved its adoption.
Seconded by Councilmember Dale Carlson Ayes -All
2. 1998 G.O. Refunding Bonds
a. Manager McGuire presented the staff report.
b. Director of Finance Faust introduced Dan Hartman of Springsted, Incorporated, who
presented the specifics of the bids and made a recommendation regarding the bid
awards.
Mayor Rossbach introduced the Resolution and moved its adoption.
Seconded by Councilmember Koppen Ayes -All
F. ADJOURNMENT
Councilmember Carlson moved to adjourn at 5:13 p.m.
Seconded by Councilmember Allenspach Ayes -All
98-07-82
RESOLUTION PROVIDING FOR THE COMPETITIVE NEGOTIATED SALE OF $1,295,000
GENERAL OBLIGATION REFUNDING BONDS, SERIES 19986
WHEREAS, the City Council of the City of Maplewood, Minnesota the "City"), has
heretofore determined that it is necessar~r and expedient to issue its $1,295,0 0 General Obligation
Improvement Bonds, Series 19986 (the' Bonds") to refund in advance of maturity, the 2001 through
2011 maturities of the City's General Obligation Improvement Bonds, Series 1991 A, dated
November 1, 1991; and
WHEREAS, the City has retained Springsted Incorporated, in Saint Paul, Minnesota
("Springsted"), as its independent financial advisor and is therefore authorized to sell these
obligations by a competitive negotiated sale in accordance with Minnesota Statutes, Section 475.60,
Subdivision y (9); and
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Maplewood,
Minnesota, as follows:
Authorization -the City Council hereby authorizes Springsted to solicit bids for the competitive
negotiated sale of the Bonds.
Meeting; Bid Opening -This City Council shall meet at the time and place specified in the
Terms of Proposal attached hereto as Exhibit A for the purpose of considering sealed bids for, and
awarding the sale of, the Bonds. The Clerk or her designees, shall open bids at the time and place
specified in such Terms of Proposal.
Terms of Proposal -The terms and conditions of the Bonds and the negotiation thereof
are fully set forth in the "Terms of Proposal" attached hereto as Exhibit A and hereby approved and
made a part hereof.
Official Statement - In connection with said competitive negotiated sale, the Clerkandother
officers of employees of the City are hereby authorized to cooperate with Springsted and participate
in the preparation of an official statement for the Bonds, and to execute and deliver it on behalf of the
City upon its completion.
Seconded by Councilmember Koppen Ayes -All