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HomeMy WebLinkAbout04/18/1985CITY OF APPLE VALLEY Dakota County, Minnesota April 18, 1985 Minutes of the special meeting of the City Council of Apple Valley, Dakota County, Minnesota, held April 18th, 1985, at I2:00 o'clock Noon, at the City Hall pursuant to due call and notice thereof. PRESENT: Mayor Branning; Councilmembers Goodwin, Holton, Humphrey and Savanick; Administrator Asleson and Clerk Mueller. ABSENT: None. Mayor Branning called the meeting to order at 12:05 p.m. Mr. Asleson opened and read the bids submitted for the City's $2,610,000 General Obligation Bonds of 1985 as follows: Dain Bosworth, Inc., net interest rate of 7.7963 percent; First Bank St. Paul, net interest rate of 7,879 percent; and Piper Jaffrey & Nopwood, net in- terest rate of 8.0258 percent. Mr. Steve Mattson, of Juran & Moody, the City's financial consultant, then tabulated and reviewed the bids for accuracy. MOTION: of Savanick, seconded by Holton, adopting Resolution No. 1985- 72 setting a public hearing on the application of Apple Valley Square Shopping Center Company for $4,500,000 of Industrial Development Revenue Bonds for a Rainbow Foods grocery store to be located at the southwest corner of Cedar Avenue and County Road 42. The hearing to be at 8:00 p.m. on May 23, 1985. Ayes - 5 - Nays - 0. RES. 1985-72 SET HEARING A.V. SQUARE IDB FINANCING RES. 1985-73 T.H. 77 Mn/DOT COST AGREEMENT MOTION: of Holton, seconded by Savanick, adopting Resolution No. 1985- 73 approving Agreement No. 59907 with the Minnesota Department of Transportation relating to the City's costs associated with construction of east-west Trunk Highway No. 77 and authorizing the Mayor and City Administrator to sign the same. Ayes - 5 - Nays - 0. Mr. Mattson reported to the Council that the bid of Dain Bosworth, Inc., was correct and recommended awarding the sale. MOTION: of Holton, seconded by Savanick, adopting Resolution No. 1985- 74 awarding the sale of the City's $2,610,000 General Obligation Bonds to Dain Bosworth, Inc., at a net interest rate of 7.7963 percent. Ayes - 5 - Nays - 0. RES. 1985-74 AWARD G.O. BOND SALE RES. 1985-75 $1,530,000 G.O. IMPR. BOND DETAILS RES. 1985-76 $520,000 G.O. EQUIP. BOND DETAILS MOTION: of Nolton, seconded by Savanick, adopting Resolution No. 1985- 75 authorizing issuance, prescribing the form and details and providing for the payment of $1,530,000 General Obligation Improvement Bonds of 1985 as awarded pursuant to Resolution No. 1985-74. Ayes - 5 - Nays - 0. MOTION: of Holton, seconded by Savanick, adopting Resolution No. 1985- 76 authorizing issuance, prescribing the form and details and providing for the payment of $520,000 General Obligation Equip- ment Bonds of 1985 as awarded pursuant to Resolution No. 1985- 74. Ayes - 5 - Nays - 0. CITY OF APPLE VALLEY Dakota County, Minnesota April 18, 1985 Page 2 MOTION: of Holton, seconded by Savanick, adopting Resolution No. 1985- 77 authorizing issuance, prescribing the form and details and providing for the payment of $560,000 General Obligation Tax Increment Bonds of 1985 as awarded pursuant to Resolution No. 1985-74. Ayes - 5 - Nays - 0. RES. 1985-77 $560,000 TAX INCREMENT BOND DETAILS RES. 1985-78 TAKE BIDS PARK TRACTOR CLAIMS & BILLS MOTION: of Humphrey, seconded by Holton, adopting Resolution No. 1985- 78 approving specifications for a Park Department tractor with cab, sweeper and snow blade and authorizing advertising for bids to be received at 2:00 p.m. on May 6, 1985. Ayes - 5 - Nays - 0. MOTION: of Holton, seconded by Goodwin, to pay the claims and bills, checks numbered 42437 through 42526, in the total amount of $i78,965.19. Ayes - 5 - Nays - 0. MOTION: of Humphrey, seconded by Goodwin, to adjourn. Ayes - 5 - Nays - 0. The meeting was adjourned at 12:32 o'clock p.m.