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<br />068 <br /> <br />Hastings Minnesota <br />August 16, 1985 <br /> <br />The City Council of the City of Hastings, Minnesota met in <br />a Special meeting on Friday, August 16, 1985 at 4:45 p.m. in the <br />Council Chambers of the City Hall. <br /> <br />Members Present: Councilmember Berg, Werner, Kulzer, Trautmann, <br />Plan and Mayor Stoffel. <br /> <br />n <br />! I <br />i <br /> <br />Members Absent: <br /> <br />Councilmember Bond, Nesbitt and Mathiowetz. <br /> <br />The purpose of the meeting was to discuss the options of bonding <br />for the Hydro Electric Plant. Information was passed out regarding <br />monies spent this far and potential expenditures/obligations. A list <br />of Agencies dnvolved with the project and current status was also handed <br />out. Ron Langness, Springsted, discussed the two bonding options: <br /> <br />A) 3 Million G.O. Backed Variable rate with 6.5 Million Revenue <br />Bond (Non-G.O. Backed). <br /> <br />B) 9 Million Variable Rate G.O. Backed Bond. <br /> <br />Risks were discussed along with the potential revenues. <br /> <br />Moved by Councilmember Trautmann, seconded by Councilmember <br />Kulzer to direct staff to continue to work on option (B) for a City <br />Council discussion on Monday night. 5 A)Les: Nayes,None. <br /> <br />Moved by Councilmember Werner, seconded by Councilmember <br />Berg to adjourn the meeting at 5:44 p.m. 5 Ayes; Nayes, None. <br /> <br />Mayor <br /> <br /> <br /> <br />n <br /> <br />I <br />