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7. COUNCIL BUSINESS <br />7.01: Consider Award of Contract for Engineering Services to Complete the Required <br />Armstrong Boulevard Improvements Related to the Proposed Sunwood Drive <br />Realignment <br />City Engineer Himmer reviewed the staff report. He explained this would be necessary under <br />the interchange work, and the dollar amount had been considered in the interchange project. The <br />funds are from State Aid, reimbursed through TIF 14. <br />Motion by Councilmember Wise, seconded by Councilmember McGlone, to award an <br />engineering services contract to WSB & Associates in the amount of $35,290 to complete the <br />required feasibility study items, AUAR traffic updates, and conceptual layout of the realign <br />Armstrong Boulevard and Sunwood Drive intersection and to authorize staff to negotiate a future <br />design contract with WSB & Associates, in an amount not to exceed $140,212 consistent with <br />the estimated budget for such services. <br />Motion carried. Voting Yes: Mayor Ramsey, Councilmembers Wise, McGlone, Backous, and <br />Tossey. Voting No: None. Absent: Councilmember Elvig <br />7.02: Authorization of the Issuance of General Obligation Bonds, Series 2011A for the <br />Construction Upgrade of Bunker Lake Boulevard /Armstrong Boulevard <br />This item was discussed as Item 7.01 due to the consultant, Paul Donna with Northland <br />Securities, who is present for this item. <br />Finance Officer Lund reviewed the staff report. <br />Mr. Donna reviewed the summary of the finance plan. He referred to Page 6 in the plan, <br />pointing out that he is expecting the fixed interest rate to be slightly over 2 %. He noted all of the <br />debt service will be paid back, and a tax levy will not be needed. He warned the City that if the <br />assessments are behind schedule, the City will be asked to bridge the gap until it can be brought <br />back on track. <br />Mayor Ramsey asked if there was any fiscal penalty or fines for being late, in reference to the <br />City possibly needing to bridge the gap. <br />Finance Director Lund explained penalties will be accrued. Since this is a break even starting <br />point for the City, the City will have to pay it. <br />Mayor Ramsey indicated he sought to be assured there will be no risk to the City. <br />Finance Director Lund responded if the payment is not made for the year, the City will have to <br />find other funding resources to cover it. <br />City Council / July 26, 2011 <br />Page 6 of 9 <br />