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Regular City Council Meeting Monday, February 11, 2013 Page 8 Ayes: Willmus; Laliberte; Etten; McGehee; and Roe. Nays: None. i. Establish Sale Date for 2013 Refunding Bonds At the request of Mayor Roe, City Manager Malinen provided a brief summary of the request, as detailed in the RCA dated February 11, 2012. At the request of Councilmember McGehee, Finance Director Miller advised that the City of Roseville structures all of its bond issues with an early call feature; and anticipated a cost for refinancing these bonds at approximately $6,500.00. Mr. Miller noted that the savings projections by staff were based on the City's Triple-A bond rating and bond issues among other cities at this time. However, Mr. Miller advised that until March 11, 2013, staff wouldn't know how accurate those projections had been, depending on today's market across the nation and the market over that next 30-day period. Mr. Miller clarified that the impact on the City's tax levy would not take effect until 2015, at which time the City Council could decide how to apply that savings, whether to reduce the levy or apply it elsewhere. At the request of Mayor Roe, Mr. Miller confirmed that the City was not obligat- ed to accept any of the offers made, and could choose to reject all bids and reas- sess whether or not it made sense to rebid or wait. Mr. Miller noted that the City's portfolio was not earning significant interest at this time, and right now it was to the City's advantage not to pay off this bond issue at this time other than for philosophical reasons in paying off debt early. McGehee moved, Etten seconded, adoption of Resolution No. 11052 (Attachment A) entitled, "Resolution Providing for the Competitive Negotiated Sale of $4,145,000 General Obligation Municipal Building Refunding Bonds, Series 2013A;" scheduling the sale date for issuance for March 11, 2013. Roll Call Ayes: Willmus; Laliberte; Etten; McGehee; and Roe. Nays: None. 9. General Ordinances for Adoption 10. Presentations a. Living Smarter Home and Garden Fair Housing Program Manager Jeanne Kelsey announced Roseville's upcoming 17th Annual Living Smarter Home & Garden Fair on Saturday, February 16, 2013 from 9:00 a.m. to 3:00 p.m. at the Fairview Community Center at 1910 West County Road B. Ms. Kelsey recognized event sponsors, and revised expanded workshop offerings planned this year.