03-19-1991 CCMMINUTES
SPECIAL CITY COUNCIL MEETING
TUESDAY, MARCH 19, 1991
The special meeting was called to order by Mayor Ackland at 5:45
P.M. Present were: Mayor Paul L. Ackland, Aldermen Craig Lenz and
Don Erickson. Also present: Finance Director Kenneth B. Merrill
and Financial Advisor Bill Fahey of Ehlers & Associates.
Mr. Bill Fahey reported on the bids received this afternoon for the
$6,500,000 G.O. Medical Facilities Revenue Bonds, Series 1991A and
the $495,000 G.O. Medical Facilities Revenue Refunding Bonds,
Series 1991B. He stated that two bonds would be awarded for sale,
and Norwest Investment Services, Inc. was the successful bidder for
both bonds.
Following discussion, the motion was made by Alderman Lenz, sec-
onded by Alderman Erickson and unanimously carried, to approve and
award the sale to Norwest Investment Services, Inc. and to waive
reading and adopt Resolution No. 9443.
Mr. Fahey recommended that the City refund the bonds for the fire
hall, in the amount of $400,000, and the library, in the amount of
$600,000. The negotiated sale would be awarded to Norwest Invest-
ment Services, Inc.
Following discussion, the motion was made by Alderman Lenz, sec-
onded by Alderman Erickson and unanimously carried, to approve the
negotiated sale to Norwest Investment Services, Inc. and to waive
reading and adopt Resolution No. 9444.
There being no further business, the meeting adjourned at 6:00 P.M.
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