12/08/1982 - City Council Special ()(1326
MINUTES OF A SPECIAL MEETING OF THE EAGAN CITY COUNCIL
EAGAN, MINNESOTA
DECEMBER 8, 1982
A special meeting of the Eagan City Council was held on December
8, 1982 at 5:00 p.m. at the Eagan City Hall. Those present were Mayor Blomquist,
Councilmembers Egan, Smith, Thomas and Wachter. Also present were City Adminis-
trator Hedges and Director. of Finance VanOverbeke. Mr. Ernie Clark, representing
Miller & Schroeder Municipals, Inc. , the City's fiscal consultant, was also
present.
$965,000 GENERAL OBLIGATION CITY HALL BOND SALE
The results of the December 8, 1982 $965,000 general obligation
bond sale were distributed by Mr. Ernie Clark, the City' s fiscal consultant,
representing Miller & Schroeder Municipals, Inc. Mr. Clark reported that the
low bidder was "Cronin & Marcotti, Inc. / Merrill Lynch White Weld Capital Markets
Group". The interest rate was set at 8.9163 % with a total net interest of
$855,524.11. After further discussion on the matter and in a motion by City Coun-
cilmember Wachter, seconded by Councilmember Smith, with all members voting
aye, the low bid for the $965,000 general obligation bond for the purpose of
financing the construction of the new city hall and renovation of the existing
city hall was approved to Cronin & Marcotti, Inc. / Merrill Lynch White Weld
Capital Markets Group. SEE BOND FILE
$2,400,000 GENERAL OBLIGATION IMPROVEMENT BOND SALE
The results of the December 8, 1982 $2,400,000 general obligation
and improvement bond sale were distributed by Mr. Clark. Mr. Clark reported
that the low bidder was "Cronin & Marcotti, Inc. / Merrill Lynch White Weld
Capital Markets Group". The interest rate was set at 7.944% with a total net
interest of $933,476.78 After further discussion on the matter and in a motion
by City Councilmember Egan, seconded by Councilmember Thomas, with all members
voting aye, the low bid for a $2,400,000 general obligation improvement bond
sale was approved to "Cronin & Marcotti, Inc. / Merrill Lynch White Weld Capital
Markets Group.
SEE BOND FILE
ADJOURNMENT
There being no further business, the meeting was adjourned.
Dated: December 8, 1982 TLH
atel4A44
City Clerk