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10/03/1984 - City Council Special
Special City Council Packet E.YUP[ 09.1OWO6 W4KOLGIIJKQIMZI:1oYPAOZ1 l WEDNESDAY OCTOBER 3, 1989 5:00 P.M. I. Roll Call II. General Obligation Improvement and Park Improvement Bond Sale III. Other Business IV. Adjournment Y MEMO TO: HONORABLE MAYOR 8 CITY COUNCIL MEMBERS FROM: CITY ADMINISTRATOR HEDGES DATE: SEPTEMBER 28, 1984 SUBJECT: SPECIAL CITY COUNCIL MEETING WEDNESDAY, OCTOBER 3, 1984 Background A bond sale is scheduled for Wednesday, October 3, 1984, at 12:00 (noon) to consider a $7,280,000 General Obligation Improvement Bond and $4,410,000 General Obligation Park Improvement Bond. The Park Improvement Bonds are heavy ended in later maturity years. Amounts increase from $65,000 in 1985 to $500,000 in 1999 and then $475,000 in the year 2000. The Improvement Bonds are heavy ended in the early years. Amounts generally decrease each year from 1987/1988 to 2002. Examples of current and comparable sales include: 9-05 Dubuque, Ia. G.O. Bonds $7,900,000 1987/04 Aa 9.868 9-11 Stillwater, Mn. Imp. .Bonds 4,850,000 1987/05 U.R.9.788 9-18 Anoka County Library Bonds 2,335,000 1986/00 - 9.268 The City has been notified that both Moody's and Standard and Poor's have given these items an "A" rating. Action Assuming a favorable bid for both bond sales, two (2) separate notions are required for accepting the low bids for the General Improvement Bond and Park Improvement Bond. I,l City Administrator TLH/jj SPECIAL CITY COUNCIL MEETING WEDNESDAY OCTOBER 3, 1984 5:00 P.M. I. Roll Call II. General Obligation Improvement and Park Improvement Bond Sale III. Other Business IV. Adjournment LJ • El M SPECIAL MEETING NOTIFICATION DATE: ocrt view— , 19 Vf TIME: -5.100 ( r - LOCATION: F City Council Chambers nCity Administrator's Office © City Hall Conference Room F1Other Location: CONTACT PERSON: -701y\ A( --V (q E S. TYPE OF MEETING SPECIAL CITY COUNCIL MEETING FINANCE COMMITTEE MEETING PUBLIC WORKS COMMITTEE MEETING PERSONNEL COMMITTEE MEETING COMMUNITY DEVELOPMENT COMMITTEE MEETING OTHER: SPECIAL ADVISORY PLANNING COMMISSION MEETING SPECIAL A.P.C. SUB -COMMITTEE MEETING OTHER: SPECIAL ADVISORY PARKS 8& RECREATION.COMMISSION MEETING MEETING TOPIC G. o. �EoNe SAt . A wme v SPECIAL ADVISORY PARKS & REC. COMMISSION SUB -COMMITTEE MEETING OTHER: SPECIAL ASSESSMENTS COMMITTEE MEETING JOINT BURNSVILLE/EAGAN CABLE COMMISSION MEETING OTHER: POSTED FOR PUBLIC NOTIFICATION BY THE OFFICE OF THE CITY ADMINISTRATOR DATE: KO'd TIME: I • 00 Special City Council Packet E.YUP[ 09.1OWO6 W4KOLGIIJKQIMZI:1oYPAOZ1 l WEDNESDAY OCTOBER 3, 1989 5:00 P.M. I. Roll Call II. General Obligation Improvement and Park Improvement Bond Sale III. Other Business IV. Adjournment Y MEMO TO: HONORABLE MAYOR 8 CITY COUNCIL MEMBERS FROM: CITY ADMINISTRATOR HEDGES DATE: SEPTEMBER 28, 1984 SUBJECT: SPECIAL CITY COUNCIL MEETING WEDNESDAY, OCTOBER 3, 1984 Background A bond sale is scheduled for Wednesday, October 3, 1984, at 12:00 (noon) to consider a $7,280,000 General Obligation Improvement Bond and $4,410,000 General Obligation Park Improvement Bond. The Park Improvement Bonds are heavy ended in later maturity years. Amounts increase from $65,000 in 1985 to $500,000 in 1999 and then $475,000 in the year 2000. The Improvement Bonds are heavy ended in the early years. Amounts generally decrease each year from 1987/1988 to 2002. Examples of current and comparable sales include: 9-05 Dubuque, Ia. G.O. Bonds $7,900,000 1987/04 Aa 9.868 9-11 Stillwater, Mn. Imp. .Bonds 4,850,000 1987/05 U.R.9.788 9-18 Anoka County Library Bonds 2,335,000 1986/00 - 9.268 The City has been notified that both Moody's and Standard and Poor's have given these items an "A" rating. Action Assuming a favorable bid for both bond sales, two (2) separate notions are required for accepting the low bids for the General Improvement Bond and Park Improvement Bond. I,l City Administrator TLH/jj SPECIAL CITY COUNCIL MEETING WEDNESDAY OCTOBER 3, 1984 5:00 P.M. I. Roll Call II. General Obligation Improvement and Park Improvement Bond Sale III. Other Business IV. Adjournment LJ • El M SPECIAL MEETING NOTIFICATION DATE: ocrt view— , 19 Vf TIME: -5.100 ( r - LOCATION: F City Council Chambers nCity Administrator's Office © City Hall Conference Room F1Other Location: CONTACT PERSON: -701y\ A( --V (q E S. TYPE OF MEETING SPECIAL CITY COUNCIL MEETING FINANCE COMMITTEE MEETING PUBLIC WORKS COMMITTEE MEETING PERSONNEL COMMITTEE MEETING COMMUNITY DEVELOPMENT COMMITTEE MEETING OTHER: SPECIAL ADVISORY PLANNING COMMISSION MEETING SPECIAL A.P.C. SUB -COMMITTEE MEETING OTHER: SPECIAL ADVISORY PARKS 8& RECREATION.COMMISSION MEETING MEETING TOPIC G. o. �EoNe SAt . A wme v SPECIAL ADVISORY PARKS & REC. COMMISSION SUB -COMMITTEE MEETING OTHER: SPECIAL ASSESSMENTS COMMITTEE MEETING JOINT BURNSVILLE/EAGAN CABLE COMMISSION MEETING OTHER: POSTED FOR PUBLIC NOTIFICATION BY THE OFFICE OF THE CITY ADMINISTRATOR DATE: KO'd TIME: I • 00