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City of Centerville <br />Council Meeting Minutes <br />February 24, 2021 <br /> <br />Mr. Eilertson stated that there was a tightening of the fees in order to maintain a certain level of <br />savings. He stated that they are the municipal advisory to the City which means that they also <br />serve as fiduciary. <br /> <br />Mayor Love stated that the market has done some interesting things over the last few months. He <br />thanked Mr. Eilertson and Northland Securities for their work on behalf of the City. <br /> <br />Finance Director DeJong pointed out that for advanced refunding of bonds, there is a minimum <br />savings of 3%, which is State law. In this case, the City achieved a 5.28% savings which is well <br />above the minimum so he believes this is a successful bond refinancing sale. He stated that he <br />believes this will enhance the City’s overall finances for the next seven (7) years. <br /> <br />Administrator Statz noted that the interest rate is a very difficult game to predict. He stated that <br />the Council does have the choice to reject these bids, but then there is also a gamble for the interest <br />rates whenever they decide to proceed. <br /> <br />Council Member Koski asked if the City could sell this again and try to get a better deal. <br /> <br />Mr. Eilertson stated that the bonds are issued as ‘non-callable’ which means they cannot be sold <br />to get a better deal, but noted that they were callable prior to the due date. <br /> <br />Motion by Council Member Lakso, seconded by Council Member King, to Adopt the <br />Awarding the sale on February 24, 2021 and authorize the Mayor, City Administrator, City <br />Clerk, and Finance Director to sign all necessary documents to affect the sale. <br /> <br />Council Member King asked if this number was cast in stone. Mr. Eilertson concurred. <br /> <br />A roll-call vote was taken. Mayor Love and Council Members King, Koski, Lakso & Mosher <br />voted in favor. Motion carried. <br /> <br />nd <br />2. Targeted Picketing Ordinance (2 Reading) <br /> <br />Administrator Statz noted that his thought continues to be that if the Council adopts this, it should <br />remain in the exact form it is being presented. <br /> <br />City Attorney Glaser stated that he shares the same thought and if the Council was planning to <br />adopt this, he would ask that it be adopted in the form it is written <br /> <br />Council Member Lakso explained that after giving it more thought following the last meeting, she <br />is not sure how helpful this will be, but also does not think it will hurt anything. <br /> <br />Council Member King questioned if there was a chance of going to court over 1st Amendment <br />rights. <br /> <br />City Attorney Glaser explained that one of the laws on the books is a Targeted Picketing Ordinance <br />that contains two (2) of the three (3) provisions that are in the proposed Ordinance. <br /> <br />Page 10 of 17 <br /> <br /> <br />