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City of Centerville <br />Council Meeting Minutes <br />April 26, 2006 <br /> <br />7. Request for Extension (Bridge in Easement) 1818 Fox Run (Ziegler) <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 under the City’s current <br />guidelines that the City would not be using a trail easement for utilities now. <br /> <br />Mayor Capra indicated that the Zieglers will comply with whatever Council wants <br />to do but they are concerned that if the bridge is removed that kids will throw logs <br />and pallets and things in there to still be able to cross it. <br /> <br />Staff recommended an extension to allow time to research the matter. <br /> <br />Motion by Council Member Lakso, seconded by Council Member Lee, to <br />approve an extension to September 1, 2006. All in favor. Motion carried <br />unanimously. <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 />st <br />8. Resolution #06-027 – Authorizing Sale of Improvement Bond – 21 Avenue <br />rd <br />Backage Road/Hunter’s Crossing, 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 process. <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 Staff 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 asked how much different the interest rate would be if it were rated <br />versus non-rating. <br /> <br />Council Member Lakso asked if there could be early call dates. <br /> <br />Mayor Capra asked Staff to provide information on non-rating or rating based and <br />how that would affect the interest rate. <br /> <br />Page 5 of 8 <br />