03-05-1980 CCMV
MINUTES
SPECIAL MEETING - HUTCHINSON CITY COUNCIL
WEDNESDAY, MARCH 5, 1980
The special meeting was called to order by Mayor Westlund at 2:05 P.M., with Alder-
men Lueneburg and Gruenhagen present in addition to the Mayor. Absent: Aldermen
Peterson and Beatty. Also present were: Administrative Assistant Plotz, City Forester
Schnobrich and Steve Cook.
Mayor Westlund read Publication No. 2253 calling for Advertisement for Bids, 1980
Tree Removal and Stump Removal. The following four bids were then received and
opened: Sect. A, B, C
Hipp's Nursery Inc., Blaine, MN $112,840.00
Green World Tree Service, Stevens Point, WI 75,577.00
Hutchinson Landscaping, Hutchinson, MN 53,331.30
Clark's Landscaping, Columbia Heights,,/MN 60,665.00
The motion was made by Alderman Lueneburg to refer the bids to the City Forester for
review and recommendation to the Council at the next meeting. Seconded by Alderman
Gruenhagen, the motion unanimously carried.
Mayor Westlund reported that no Ggneral Obligation Bonds had been sold in the last
two weeks. The League of Minnesgta Cities has introduced an amendment to the State
Statutes with a Bill in the Ho e and Senate to increase the seven per cent (7%) in-
terest rate limit on municipageneral obligation and municipal revenue bonds. He
then asked the Council members for their reaction to the Bill to raise the limits,
which would enable the sale:`of improvement bonds and the Police/Fire Station bond,
if the referendum passes. 7It was his recommendation that letters be written to the
Senators and Representat0es involved with the Bill and give support to its passage.
The provisions in the B,'V'Ll cover five basic areas, namely:
1. raising the Allowable bond interest rates;
2. increasing the dollar limitation on negotiated issues;
3. raising the permissible assessment interest rate for special assessments;
4. raising the allowable interest rate on debt instruments, including tax
anticipation certificates; and
5. providing a revision to the present limitations in July, 1981 to allow
legislators to study the issue more thoroughly in the interim to assure
that the above provisions are appropriate in view of the present market
conditions.
Following discussion, Alderman Gruenhagen moved that the City Council go on record
to support the Hanson -Schreiber Municipal Bond Interest Rate Bill (H.F. 2214 and
S.F. 2227) to increase the interest rate on bonds. Seconded by Alderman Lueneburg,
the motion carried unanimously.
COUNCIL MINUTES
MARCH 5, 1980
It was moved by Alderman Gruenhagen, seconded by Alderman Lueneburg and unanimously
carried, to waive reading and adopt Resolution No. 6497 entitled Resolution Support-
ing the Hanson -Schreiber Municipal Bond Interest Rate Bill.
There being no further business, the meeting adjourned at 2:20 P.M.
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