HomeMy WebLinkAbout11-09-1982RECORD OF OFFICIAL PROCEEDINGS OF THE COMMON COUNCIL 19
CITY OF ROCHESTER, MINNESOTA
Adjourned Meeting No. 19 - November 9, 1982
Agenda
Item
A-1 President Postier called the meet gg':to order at 1:00 P.M., the
following members being present: President Postier, Aldermen Powers,
Solinger and Strain. Absent: Aldermen Duffy and Allen and Bluhm.
E-1 Powers moved, Solinger second to adopt Resolution No. 511-82 approvii
the low bid of The First National Bank of St. Paul, Minnesota'in the
amount as' follows: Bid for Principal $3,762,532.00 - Net Interest
Dollar Cost $1,459,893.00 and the Net Interest Rate 7.2994. This
is for $3,800,000. General Obligation Improvement Bonds dated Nov.
1, 1982. Ayes (4), Nays (0). Motion Carried.
E-2 Strain moved, Solinger second to adopt Resolution No. 512-82
authorizing a letter thanki.ng''.the Regan -:Administration for listing
the Rochester Flood Control Project as one of the::_ 10 most worthwhile
out of 200 water projects. The letter points out that the City
has been engaged in planning the local flood -control project for morE
than 20 years and the original proposal had the local share at 10
per cent. The letter suggests that 15 per cent could be an acceptabl
figure rather than the 35% local share the administration suggests.
The difference between local share at 15 Per cent is $8.6 million
and the 35 Per cent share is $20.2 million. These figures are of
the $57.5 million Army Corp of Engineers project. Ayes (4),
Nays (0). Motion carried.
Having no further business, Strain moved, Powers second to adjourn
the meeting. Ayes (4), Nays (0). Motion carried.
Ci ty C1 er
A