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6. PUBLIC HEARING <br />None. <br />7. COUNCIL BUSINESS <br />7.01: Consider Adopting Resolution #16-06-124 Providing for the Issuance and Sale of <br />$1,735,000 GO Street Reconstruction Bonds, Series 2016A, Pledging Special <br />Assessments and Levying a Tax for the Payment Thereof <br />Mayor Strommen noted that the amount stated in the agenda title will be changing from <br />$1,735,000 to $1,650,000. <br />Finance Director Lund reviewed the staff report and recommendation to adopt Resolution # 16- <br />06-124 authorizing approval of the sale of $1,650,000 GO Street Reconstruction Bonds, Series <br />2016A. <br />Stacy Kvilvang, Ehler's and Associates, stated that the sale for the bonds occurred this morning <br />and there were three bids, noting that the lowest bidder had an interest rate of 1.36 percent. She <br />stated that the City received a premium bid and the cost of issuance was lower than expected <br />which reduced the bond size by $85,000. <br />Motion by Councilmember Kuzma, seconded by Councilmember Riley, to Adopt Resolution <br />#16-06-124 Providing for the Issuance and Sale of $1,650,000 General Obligation Street <br />Reconstruction Bonds, Series 2016A, Pledging Special Assessments and Levying a Tax for the <br />Payment Thereof. <br />Motion carried. Voting Yes: Mayor Strommen, Councilmembers Kuzma, Riley, Johns, <br />Shryock, and Williams. Voting No: None. Absent: Councilmember LeTourneau. <br />7.02: Consider Adopting Resolution #16-06-119 Regarding the Final Plat for The Station: <br />Case of D.R. Horton (Project No. 16-09) <br />Community Development Director Gladhill reviewed the staff report and recommendation to <br />adopt Resolution # 16-01-119 granting approval of the Final Plat for The Station. <br />Mayor Strommen stated that the Council provided direction at the May 24th meeting regarding <br />the net density and noted that this is consistent with that direction. <br />Motion by Councilmember Riley, seconded by Councilmember Johns, to Adopt Resolution #16- <br />06-119 Granting Final Plat Approval for Station. <br />Motion carried. Voting Yes: Mayor Strommen, Councilmembers Riley, Johns, Kuzma, <br />Shryock, and Williams. Voting No: None. Absent: Councilmember LeTourneau. <br />City Council / June 28, 2016 <br />Page 4 of 10 <br />