HomeMy WebLinkAbout1996 [06] Jun 11
I
Pursuant to due call and notice thereof, the City Council
of St. Joseph met in special session on Tuesday, June 11,
P.I'!. in the City Hall.
Page 2974
June 11, 1996
i
I
for the
1996 at
City
4:30
I
!tEKBERS PRESENT:
Ken Hiemenz, Cory
Loso was absent.
Mayor Donald Bud Reber, Councilmembers Ross Rieke,
Ehlert, Clerk/Administrator Rachel Stapleton. ¡Bob
OTHERS PRESENT: Monte Eastvold.
Mayor Reber called the meeting to order at 4:40 P.'M. with Councilors
,
Rieke, Ehlert and Hiemenz present. He stated the purpose of .the
meeting is to consider resolutions authorizing the issuance and¡
awarding sale of bonds for financing projects.
Monte Eastvold of Juran & Moody, Inc. informed the Council thatlthese
bond issues received a Baa rating by Moody's Investor's Service, He
then presented a tabulation of the 4 bids received for financing the
East Minnesota Street project and Improvements to 'the Roske Addition.
Council member Hiemenz introduced the attached Resolution Authorizing
Issuance, Awarding Sale, Prescribing the Form and Details and Providing
For The Payment of $1,280,000 General Obligation Improvement Bonds of
1996, ,
awarding the sale to Piper Jaffray, Inc. with a Net Effective Rate of
5.65437. and moved to its adoption, which motion was seconded by I
Council member Rieke.
Ayes: Reber, Rieke, Hiemenz, Ehlert.
Nayes: None. Motion carried.'
Monte Eastvoldthen presented a tabulation of 5 bids received.
Councilmember Rieke introduced the attached Resolution Authorizing
Issuance, Awarding Sale, Prescribing the Form and Details and Providing
For The Payment of $780,000 General Obligation Water Revenue Bonds of
1996 awarding the sale to Piper Jaffray, Inc. with a Net Effective Rate
of 5.90077. and moved to its adoption, which motion was seconded by
Councilmember Ehlert.
Ayes: Reber, Rieke, Hiemenz, Ehlert.
Nayes: None. Motion carried.
ADJOURN:
Hiemenz.
Ayes: Reber;
Nayes: None.
Rieke made a motion to adjourn at 4:50 P.M., seconded by
Rieke, Loso,
Hiemenz, Ehlert.
Motion carried:
~
Rachel Stapleton
Clerk/Administrator
I