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<br />City ofCenterviDe <br />CouIcJlMeeIiDs ,,~ <br />April 26, 2006 <br /> <br />,. ~ (or ExtAlUlinft <J'o""tr in ll.A!INIIfll1It) 1818 Fox .11ft (1JeaIeO <br /> <br />Mayor Capra indicated that she asked that this be put on the Agenda because the <br />kids use the bridge and she discussed it with Staff and it seems to her that the City <br />would not be using a trail easement for utilities now. <br /> <br />Mayor Capra indicated that the Zieslers will comply with whatever Coundl wants <br />to do but they are concerned that if the bridge is removed that kids will throw logs <br />and pallets at tbiDgs in there to still be able to a'OSS it. <br />StatTrecommended an extension to allow time to march the matter. <br /> <br />MtlitIB.)J ~~ laIlr~, seeoadsd..J,ty CotJBl1L't~.r Lee. to <br />aoorove an extllllll.lan to SeDteDlber 1. 2Q,06. AD bI favor. Motion eanied <br />a.,...a-...hr . <br /> <br />Council Member Paar indicated that he would like to have this resolved by <br />September 1, 2006 and not be asked for another extension. <br /> <br />8. Resolution #06-027 - Authorizin! ~e oflnvovement Bond - 21st Avenue <br />BackAgP- RoadlHunter's Crossin! 3 Addition <br /> <br />Finance Director Meyer appeared before Council and explained the request for <br />bonding to Council noting that the setup is a 15 hear issue and the best guess is it <br />should sell for about 4.75% for this type of issue and this Resolution would begin <br />the bond prOC!'SS. <br /> <br />Mayor Capra asked why they are being combined. <br /> <br />City Administrator Larson indicated that one of the reasons is to have cash flow to <br />carry the other lots. <br /> <br />Mayor Capra questioned whether StatT should facilitate the sale of the bond and <br />asked what the savings would be and if the bond rating would be affected. <br /> <br />Finance Director Meyer indicated the City would save $18,000 by having him do <br />the sale rather than Northland Securities. <br /> <br />Mayor Capra 8Sbd how much ditrereut the interest mte would be if it were l1ltecI <br />versus non-rating. <br /> <br />CouIlciI Member Lakso asked if there could be early call dates. <br />Mayor Capra asked Staff to provide information on non-rating or rating based and <br />how that would affect the int<<est rate. <br /> <br />PageS of8 <br />