HomeMy WebLinkAboutHRA Item 02
CITY OF LAKEVILLE
HOUSING AND REDEVELOPMENT AUTHORITY
JULY 5, 2016
Chair Anderson called the meeting to order at 6:33 p.m.
Present: Commissioners Davis, Little, Swecker, Anderson
Absent: Commissioner LaBeau
Also present: Jerilyn Erickson, Finance Director; Roger Knutson, City Attorney; Charlene
Friedges, City Clerk
Motion was made by Anderson, seconded by Swecker, to approve minutes of the June 6,
2016 H.R.A. meeting.
Voice vote was taken on the motion. Ayes – unanimous
Item 03
Chair Anderson opened the public hearing to consider the issuance of lease revenue bonds in
an aggregate principal amount not to exceed $8,100,000 for the purpose of refinancing the
Authority’s Lease Revenue Bonds, Series 2006.
Dave MacGillivray of Springsted stated the Lease Revenue Bonds dated December 1, 2006,
were issued for the purpose of financing construction of the third sheet ice arena facility
located at 8525-215th Street. Refunding of the outstanding 2006 ice arena bonds will reduce
future interest costs.
Springsted is recommending a not-to-exceed amount of $8,625,000 and further recommends
sale of the bonds through a negotiated sale process. Springsted, the City Administrator and
Finance Director recommend appointment of Piper Jaffray as the senior managing
underwriter for the bonds.
There were no questions or comments.
Motion was made by Swecker, seconded by Davis, to close the public hearing.
Voice vote was taken on the motion. Ayes – unanimous
Motion was made by Davis, seconded by Swecker, to approve Resolution No. 16-03 approving
the refinancing of the third sheet ice arena project and the issuance of Lease Revenue
Refunding Bonds under Minnesota Statutes Chapters 465, 469, 471 and 475.
Roll call was taken on the motion. Ayes – Davis, Little, Swecker, Anderson
There being no further business, Chair Anderson adjourned the meeting at 6:39 p.m.