Minutes - Council - 10/12/1993 - Laserfiche WebLink

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NEW ~U$INESS Case #1~: Award Bid for Sale of $2,250,000 City of Ramsey, Minnesota General Obligation Tax Increment Refunding bonds, Series 1993A Finance: Officer Hart stated that at the regular Council meeting of September 14, 1993, a resolufioh was adopted providing for the issuance and sale of $2,250,000 General Obligation Tax Increment Refunding Bonds, Series 1993A. The City authorized Springs .fexl, Inc. to negotiate this sale. Mr. serr~.~ Shannon of Springsted, Inc. stated he reviewed the 11 bid proposals received. He suggested the normal amount of bid proposals is usually five to seven. He verified for accuracy andstated that the best bid is by Harris Trust for a net savings from thc refunded issue of~54,053.84 (4.26 percent). He stated that is a significant savings above what he anticipated. The interest rates for municipal bonds have come down plus a major difference, to the City's benefit, is the increase from A to A1 Moody rating. This rating reduces ,.interest rates by about 25 basis points on new bonds. Mr. Shannon stated this would al~o make a difference to the tax payers. He stated that the increase in Moody's rating w~ because they are impressed with the City's current budget, the good tax base, good municipal management, etc. Motion lay Councilmember Peterson and seconded by Councilmember Beyer to adopt Resolution ~93-10-242 awarding the sale to Harris Trust and Savings Bank of $2,250,000 General. Obligation Tax Increment Refunding Bonds, Series 1993A; fixing their form and specifications; directing their execution and delivery and providing for their payment. Motion ¢ ~arried. Voting Yes: Mayor Gilbertson, Councilmembers Peterson, Beyer, Hardin and Zimmerman. Voting No: None. Case #15: Commendation to Terry and Tara Goodwin This case was pulled from this agenda and will be on the next one. Case 016: Request for a Conditional Use Permit to Establish a Towing Service with Impound Lot and Auto Repair Facility in the Industrial District; Case of Champlin Towing City En~neer Jankowski stated that Champlin Towing is requesting a conditional use permit tO Establish a towing service with impound lot and an auto repair facility at 14300 Sunfish ~Lake Boulevard N.W. The subject property is zoned industrial and towing serviceS;ahd auto repair facilities are not a permitted use in that district. The Planning and Zoning Commission conducted a public hearing and the major concerns of the residents were the potential for groundwater contamination caused by fluids leaking from damaged vehicles.r and the traffic generated during the evening hours by this 24 hour operation. It was recOmmended that the CUP be written to require the applicant to apply a sealant to the pavement and use best management practices to reduce the potential for storm water contamiiaation. The auto repair facility on the site will need a hazardous waste generators license t0~regulate property collection and disposal of fluids. The applicant stated at the public hearing that historically speaking, he never has more than 20 impound vehicles in his lot a~ any given time. With regard to evening activity, he typically gets zero to two tow calls betWeen dusk and dawn. Mr. Jankowski stated that City Code requires that the impound lot be screened from neighboring uses and the residential district on the east side City Council/October 12, 1993 Page 11 of 17