HomeMy WebLinkAbout6.b. Minutes of the October 19, 2010 Council Regular Meeting ProceedingsI� .hi
ROSEMOUNT CITY COUNCIL
REGULAR MEETING PROCEEDINGS
OCTOBER 19, 2010
CALL TO ORDER
Pursuant to due call and notice thereof a regular meeting of the Rosemount City Council was held
on Tuesday, October 19, 2010 at 7:30 p.m. in the Council Chambers at City Hall, 2875 145`h Street
West, Rosemount.
Mayor Droste called the meeting to order with Council Members DeBettignies, Shoe - Corrigan,
Weisensel and Bills attending. Staff present included Community Development Director Lindquist,
Finance Director May, Director of Public Works /City Engineer Brotzler, Director of Parks and
Recreation Schultz and City Clerk Domeier. The Pledge of Allegiance was said.
ADDITIONS OR CORRECTIONS TO AGENDA
Community Development Director Lindquist stated there were no changes proposed.
Motion by Droste. Second by Weisensel.
Motion to adopt the Agenda.
Ayes: 5
Nays: 0. Motion carried.
CONSENT AGENDA
Mayor Droste pulled 6.c. 2010 G.O. Utility Revenue Refunding Bonds — Authorizing Issuance and
Setting Bond Sale for public information.
Motion by DeBettignies. Second by Shoe - Corrigan.
Motion to Approve the Consent Agenda minus item 6.c.
a. Minutes of the October 5, 2010 City Council Meeting Proceedings
b. Bills Listing
e. 2010 G.O. Ufility Reveffue Refunding Bendq Attthori2iftg 19sttaftee and Se"ifig Bond
Sale
d. Receive Bids and Award Contract — Rosemount Family Resource Center
e. Expenditure from Donation Account — Parks & Recreation Dept.
f. Receive Donations — Parks & Recreation Dept.
g. Partial Payment #3 — 2010 Street Improvements, City Project #428
h. 2011 -2015 Dakota County CIP (Resolution 2010 -76)
i. DWI Enforcement Grant Agreement with MN Department of Public Safety (Resolution
2010 -77)
Ayes: DeBettignies, Shoe - Corrigan, Droste, Weisensel, Bills
Nays: None. Motion carried.
6.c. 2010 G.O. Utility Revenue Refunding Bonds — Authorizing Issuance and Setting Bond
Sale
Finance Director May provided a summary of the information provided in the staff report. He
explained that the issuance and setting the sale of the General Obligation Revenue Refunding bonds
are for three current water and storm water revenue bonds. The main reason for doing these
ROSEMOUNT CITY COUNCIL
REGULAR MEETING PROCEEDINGS
OCTOBER 19, 2010
refundings is because of the market today and the lower interest rates available to the City. The
lower interest rates will result in present value savings and actual interest savings on the payments
that the City will make over the life of the bonds. The savings will be realized from both the Water
Core Fund and Storm Water Core Fund.
Motion by DeBettignies. Second by Weisensel.
Motion to adopt a Resolution Providing for the Competitive Negotiated Sale of $1,550,000
General Obligation Utility Revenue Refunding Bonds, Series 2010A.
Ayes: Shoe - Corrigan, Droste, Weisensel, Bills, DeBettignies
Nays: None. Motion carried. (Resolution 2010 -78)
ANNOUNCEMENTS
Mayor Droste reviewed the calendar of upcoming meetings. The next City Council meeting will be
held on November 1, 2010.
ADJOURNMENT
There being no further business to come before the City Council and upon a Motion by Droste,
Second by Bills, the meeting was adjourned at 7:38 p.m.
Respectfully Submitted,
Amy Domeier, City Clerk