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i <br />f MINUTES OF THE REGULAR ORONO'.COUNCIL MEETING <br />HELD JULY 13,.1992 <br />STUBBS BAY SEWER — CONT. <br />Moorse said the only.bond with enough principal left would be the <br />bond for the Crystal Bay area, but that bond is not caIIable'untII <br />a later date. <br />Drude handed out a sheet which showed a one year history of bonds'. <br />She stated that the market Is one that is 'probably worth taking <br />advantage of, but not to jeopardize the City's readiness factor. <br />Crane asked .If, by approving the sale of the bonds, the Council is <br />committing to any vested commission due. - <br />Drude stated that fees incurred by her company are payable after <br />the bonds are sold and proceeds delivered. She said that there is- <br />no fee if the sale is aborted.'The City may incur a small- cost if <br />the date is postponed and the resolution needs to be revised. <br />It was moved by Goetten, seconded by Mayor Peterson, to adopt <br />Resolution #3141 calling.for the sale of bonds for the Stubbs Bay <br />sewer project. Ayes 3, nays 0. <br />( #15) CHANGE ORDER #1 — LIFT STATION #9 <br />Moorse explained that this lift station has had many failures <br />recently and it was' determined that the contractor would need to <br />install by —pass pumps at an additional cost. <br />It was moved by Jabbour, seconded by Mayor Peterson, to'authorize <br />Change Order #1 to New Mech Companies, Inc. for an amount not to <br />exceed $8,200.00. Ayes 3, nays 0. <br />t <br />( #16) 1991 COMPREHENSIVE ANNUAL REPORT <br />Goetten asked about the news release about the financial reporting <br />award. <br />Mayor Peterson said the document would be discussed at a future <br />meeting. <br />( #17) SELECTION OF NAME FOR CITY HALL FRONTAGE ROAD <br />It was moved by Mayor Peterson, seconded by Jabbour, to select <br />Ke I I ey Parkway' as a name for the f rontage road sere i•ng the new C i ty <br />facilities..Ayes 3, nays 0. <br />9 <br />