HomeMy WebLinkAbout11-20-06 CITY OF LAKEVILLE
HOUSING AND REDEVELOPMENT AUTHORITY MEETING
November 20, 2006
Chair Wulff called the meeting to order at 6;25 p.m. Roll call was taken.
Present: Commissioners Bellows, ]ohnson, Wulff, Rieb and Luick.
Also present: Steve Mielke, Executive Director; Dennis Feller, Finance Director
and Judith Hawkins, Deputy Clerk.
MINUTES
The minutes of the October 16, 2006 HRA .meeting were approved as
presented..
ITEM 3
Finance Director Dennis Feller presented a resolution authorizing the issuance
and sale of $9,230,000 Lease Revenue Bonds to finance the construction of an
ice arena. The resolution authorizes Springsted Incorporated to proceed with
the sale of the Lease Revenue Bonds consistent with the Joint Powers
Agreement between the .City of Lakeville and School District. 194 for the third
• sheet ice. arena project.
David MacGillivray of Springsted, provided a background on the bonds and the
lease-purchase agreement with Lakeville Arenas. He explained that the bonds
are rated Ai which will result in a favorable interest rate.
06.06 Motion was made and seconded to approve Resolution No. 06-4 authorizing
the issuance of Series 2006 Lease Revenue Bonds in the amount of
$9,230,000 for. the Ice Arena Project and awarding the sale o P'rper Jaffray.
Roll call was taken on the motion. Ayes, unanimous.
There being no further business, Chair Wulff adjourned the meeting at 6:45 p.m.
Respectfully submitted,
Ju it .Hawkins, Deputy Clerk
W y ul , C ai