HomeMy WebLinkAbout12/27/2007 ECONOMIC DEVELOPMENT AUTHORITY
City of Apple Valley
Dakota County, Minnesota
December 27, 2007
Minutes of the special meeting of the Economic Development Authority of Apple Valley, Dakota
County, Minnesota, held December 27, 2007, at 7:50 o'clock p.m., at the Apple Valley
Municipal Center.
PRESENT: President Severson; Commissioners Bergman, Goodwin, Grendahl, and Hamann-
Roland.
ABSENT: Erickson.
Staff inembers present were: Executive Director Lawell, Secretary Gackstetter, City Engineer
Manson, Assistant Finance Director Broughten, Public Works Superintendent Blommel Johnson,
and Community Development Director Nordquist.
President Severson called the meeting to order at 7:50 p.m.
APPROVAL OF AGENDA
MOTION: of Grendahl, seconded by Bergman, approving the agenda for today's meeting as
presented. Ayes 5, Nays 0.
MINUTES
MOTION: of Hamann-Roland, seconded by Goodwin, approving the minutes of the special
meeting of October 25, 2007, as written. Ayes 5, Nays 0.
TAX INCREMENT PLEDGE AGREEMENT
MOTION: of Hamann-Roland, seconded by Goodwin, adopting Resolution No. EDA-07-3
approving and authorizing the execution of a Tax Increment Pledge Agreement in
connection with the sale of the City's $2,425,000 General Obligation Taxable
Refunding Bonds, Series 2008A, to Northland Securities, Inc., at an average
interest rate of 4.4169588 percent and net effective interest rate of 4.6614149
percent, and authorizing execution of the necessary documents to complete the
sale. Ayes 5- Nays 0.
MOTION: of Grendahl, seconded by Goodwin, to adjourn. Ayes 5, Nays 0.
The meeting was adjourned at 7:53 o'clock p.m.