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Regular City Council Meeting <br /> Monday,March 11,2013 <br /> Page 18 <br /> numbers from other entities; causing her hesitancy in moving forward with a <br /> moving target. <br /> City Manager Malinen suggested that, if the majority felt it would be beneficial to <br /> move forward, it could direct staff to complete negotiations with the preferred <br /> vendor, and return to the City Council with an estimated contract for their consid- <br /> eration. <br /> Councilmember Laliberte clarified that she would want it to come back before the <br /> body with that information. <br /> Due to the lack of a second, Acting Mayor Etten declared the motion failed. <br /> McGehee moved, Etten seconded, authorizing staff to negotiate a minimum three <br /> (3) year contract with PerfectSoftware for HRIS services; identifying all options <br /> and components; and bringing that information back to the City Council for their <br /> review and consideration at a future meeting. <br /> Acting Mayor Etten clarified that the intended direction to staff was for negotia- <br /> tion and confirmation of all components, including the cost to interface with <br /> HealthPartners and Springbrook. <br /> At the request of Ms. Bacon, Councilmember Laliberte clarified that she was also <br /> looking for one time and annual carrier interface costs. <br /> Roll Call <br /> Ayes: Laliberte; McGehee; and Etten. <br /> Nays: None. <br /> b. Award the Sale of 2013 Refunding Bonds <br /> Finance Director Chris Miller briefly summarized the sale of the City's 2013 re- <br /> funding bonds, as detailed in the RCA dated March 11, 2013; and introduced Ms. <br /> Terry Eaton of Springsted, Incorporated,the City's bond counsel. <br /> A bench handout was provided, consisting of the Bid Sale Summary Results, at- <br /> tached hereto and made a part hereof <br /> Terry Eaton, Springsted Incorporated <br /> Ms. Eaton provided the very favorable results of the bond sale; opining that it had <br /> proven to be great timing in the market. Ms. Eaton reviewed the total of nine (9) <br /> bids received, with one syndicate bid received, making an actual total of twenty- <br /> five (25) financial institutions bidding. Ms. Eaton advised that the issue had been <br /> very well-received in the marketplace; and the results were that the refunding <br /> term would be shorter than the initial bond that had six (6) years remaining. Ms. <br /> Eaton reviewed an interest rate to 2019 at 0.799% and savings largely resulting <br />