12-12-2005 Council Packet - Laserfiche WebLink

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MINUTES OP THE ORONO CITY COUNCIL MEETING Mondayt November 28* 2005 7:00 o’clock p.m.1220k ORONO ROLL The Council met on the above-mentioned date with the following members present; Mayor Barbara Peterson; Council Members Bob Sansevere, Jim Murphy, Jim White, and Lili McMillan; City Attorney Rolfe Worden. Representing Staff were City Administrator Ron Moorse, Planning Director Mike Gaflron; Engineer Tom Kellogg, Public Service Director Greg Gappa, and Recorder Jackie Young. Mayor Peterson called the meeting to order at 7:02 p.m., followed by the Pledge of Allegiance. CONSENT AGENDA 1.APPROVE/AMEND Items 4,7,8,9,10, and 11 were added to the Consent Agenda. Marphy moved, Saasevere secoaded, to approve the Consent Agenda as amended. VOTE: Ayes 5, Nays 0. APPROVAL OF MINUTES *2. REGULAR CITY COUNCIL MEETING OF NOVEMBER 14,2005 Marphy moved, Saasevere secoaded, to approve the minutes of the Regular City Council meeting of November 14,2005, as submitted. VOTE: Ayes 5, Nays 0. 3. APPROVE SALE OF PUBL <C PROJECT REVENUE BONDS AND AUTHORIZE EXECUTION AND DELIVERY OF M.EASE AND PURCHASE OPTION AGREEMENT AND RELATED DOCUMENTS - RESOLUTION NO. 5402 Tom Kuehn, Orono Financial Director, and Mark Ruff, Ehlcrs & Associates, were present. Moorse stated this item is related to a bond issue that is being done through the Orono HRA. In conjunction with the bond issue, a lease purchase arrangement between the City and the HRA will be entered into. Moorse stated they have received bids for the sale of the bonds. Moorse requested the City Council approve the sale of the public project revenue bonds and the lease purchase arrangement. Ruff indicated they did receive bids this morning on the revenue bonds, w ith the w inning bid being submitted by Wells Fargo Brokerage Ser\ices at a true interest rate of 3.8580 percent. Ruff noted these PAGEl