3.30.2021 Special Commission Minutes

President Carlsrud called the meeting to order at 12:00 PM.

Members present: Commissioner Magnuson, Commissioner Bishop, Commissioner Gulmon

Others Present: City Administrator Crawford, City Attorney Martineck, Finance Director Richter, Deputy Auditor Klein, Police Chief Hatcher, Mike Manstrom-Colliers

Pledge of Allegiance


Approve Resolution 2286, a Resolution Authorizing the Issuance of Improvement Warrants and Exchanging them for $1,315,000.  Refunding Improvement Bonds of 2021.

Mike Manstrom of Colliers stated the interest rates are low right now and it’s a good time to for some significant savings.  We came in with a 1.19% interest rate for the next ten years, you’re currently at 3%, that’s a $95,000 future value savings.  That was probably directly relating to the A1 rating which was reaffirmed by Moody’s.  That’s a very good rating for a community of this size.  Ohnstad-Twichell prepared the resolution today authorizing the sale as $1,315,000, we are paying off $1,275,000.  The balance of $40,000 is cost of issuance, bond counsel feels and printing the registration of bonds.

Commissioner Gulmon moved to approve, seconded by Commissioner Bishop.  Motion carried.


Meeting was adjourned at 12:06 PM.

Posted in Announcements, City Commission Minutes.