03/13/1978 - City Council Special
MINUTES OF A SPECIAL MEETING OF THE EAGAN CITY COUNCIL
EAGAN, MINNESOTA
March 13, 1978
A special meeting of the Eagan City Council was held on
March 13, 1978 at 5:00 p.m. at City Hall to review the bids on the
$1,800,000 General Obligation Refunding Improvement Bonds which had
been opened at 12:00 p.m. Those present were: Mayor Murphy, Council
Members Egan, Parranto, Smith and Wachter. Also present were City
Administrator Hedges, City Clerk Bolke and Phyllis Slattery,
Bill Gablisch and Rod Pakonon from Miller and Schroeder.
A tabulation of the four bids which were received is attached
hereto and made a part of the official record.
To satisfy the escrow it was necessary to sell an additional
$20,000 of bonds thereby making the total refunding issue $1,820,000.
Upon motion by Council Member Smith, seconded by Council Member
Wachter, all members voting aye, it was RESOLVED that the sale of
$1,820,000 General Obligation Refunding Improvement Bonds be
awarded to Banc Northwest for a total interest cost of $387,299.38
and a net interest rate of 4.6606%.
Upon motion by Council Member Wachter, seconded by Council
Member Parranto, all members voting aye, it was RESOLVED that the
Resolution establishing the terms of the bond sale be approved.
The City Administrator stated that Dakota County Commissioner
Kennedy has notified the City of Eagan that the Dakota County
Library Board is considering a new library facility in the Eagan area.
After a brief discussion the City Administrator was directed to write
a letter to Commissioner Kennedy expressing enthusiasm toward the
location of a library facility in the City of Eagan. The twenty (20)
3-13-78
acres of property in Section 22 that was purchased for future
expansion is to be considered.
Upon motion of Wachter, seconded by Parranto, the meeting
adjourned at 6:00 p.m.
Dated: March 13, 1973
City Clerk
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