HomeMy WebLinkAbout09-18-17CITY OF LAKEVILLE
HOUSING AND REDEVELOPMENT AUTHORITY
SEPTEMBER 18, 2017
Chair Davis called the meeting to order at 6:45 p.m. in the Council Chambers at City Hall.
Present: Commissioners Davis, Anderson, Wheeler, Hellier, LaBeau
Also present: Justin Miller, Executive Director; Jerilyn Erickson, Finance Director; Charlene
Friedges, City Clerk
Item 02
Motion was made by Hellier, seconded by Anderson, to approve minutes of the April 17, 2017
HRA meeting.
Voice vote was taken on the motion. Ayes — unanimous
Item 03
David MacGillivray of Springsted presented a resolution authorizing issuance and awarding
the sale of lease revenue liquor enterprise refunding bonds. This bond issue will result in the
refunding of the 2007 liquor revenue bonds, which were issued to pay for construction of the
new liquor store located at Galaxie Avenue and 160' Street. The purpose of the refunding is
to achieve interest cost savings on an approximately even annual basis over the same
repayment term. The net present value savings are currently estimated to be over $300,000.
Motion was made by LaBeau, seconded by Wheeler, to approve Resolution No. 17-03
authorizing issuance and awarding sale of Lease Revenue Liquor Enterprise Refunding Bonds,
Series 2017A.
Roll call was taken on the motion. Ayes — Davis, Anderson, Wheeler, Hellier, LaBeau
There being no further business, Chair Davis adjourned the meeting at 6:52 p.m.
Respectfully submitted,
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Charlene Friedges, City Cler
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