HomeMy WebLinkAbout08-16-85 Special
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Hastings Minnesota
August 16, 1985
The City Council of the City of Hastings, Minnesota met in
a Special meeting on Friday, August 16, 1985 at 4:45 p.m. in the
Council Chambers of the City Hall.
Members Present: Councilmember Berg, Werner, Kulzer, Trautmann,
Plan and Mayor Stoffel.
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Members Absent:
Councilmember Bond, Nesbitt and Mathiowetz.
The purpose of the meeting was to discuss the options of bonding
for the Hydro Electric Plant. Information was passed out regarding
monies spent this far and potential expenditures/obligations. A list
of Agencies dnvolved with the project and current status was also handed
out. Ron Langness, Springsted, discussed the two bonding options:
A) 3 Million G.O. Backed Variable rate with 6.5 Million Revenue
Bond (Non-G.O. Backed).
B) 9 Million Variable Rate G.O. Backed Bond.
Risks were discussed along with the potential revenues.
Moved by Councilmember Trautmann, seconded by Councilmember
Kulzer to direct staff to continue to work on option (B) for a City
Council discussion on Monday night. 5 A)Les: Nayes,None.
Moved by Councilmember Werner, seconded by Councilmember
Berg to adjourn the meeting at 5:44 p.m. 5 Ayes; Nayes, None.
Mayor
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