Laserfiche WebLink
Metadata
Document management portal powered by Laserfiche WebLink 9 © 1998-2015 Laserfiche. All rights reserved.
MINinXSOFTHE <br />ORONO aiY COUNCIL MEETING <br />Moaday, November 28,2005 <br />7:00 o’clock pm <br />(Sale of PabUc Project Revcaoc Boadi> CoBtiaaed) <br />are revenue bonds and that Wells Fargo did pay a premium for the bonds and the City would not be <br />incurring any fees on the sale. <br />Ruff reported that Moody’s Investors Services has rated the City of Orono as AAA for its general bond <br />obligations. Ruff stated there are only four communities in the United States with a population under <br />10,000 that have achieved a AAA rating, which is the highest bond rating that can be achieved by a city. <br />Ruff stated the AAA rating denwnstrates that Moody’s feels that the City of Orono is well run financially. <br />Ruff presented the City of Orono with a plaque acknowledging their AAA status. <br />Mayor Peterson thanked Tom Kuehn for his fine financial services to the City over the years. <br />PetersoB BMved, White sccoadcd, to adopt RESOLUTION NO. 5402, a Resolation approviag the <br />•ale of $1,900,000 PabUc Project Reveane Bonds, Series 2005, and anthorizlBg the execution and <br />dcUvery of a Lease aad Purchase Option Agreement and related docnmcBii. <br />VOTE: Ayes 5, Nays 0. <br />(The City CoaacU meeting was recessed at 7:13 p.m. to convene the HRA meeting) <br />(The City CouncU meeting was resumed at 7:16 p.m.) <br />PARK COMMISSION COMMENTS > RICK RICE, REPRESENTATHT: <br />Rick Rice, Representative, was not present. <br />PLANNING COMMISSION COMMENTS - RALPH KEMPF, REPRESENTATIVE <br />Kempf stated the Planning Commission was impressed with the progress made on the Willow Drive and <br />McKennon Hill projects by Bohlend Development. Kempf praised the developer's ecological initiative <br />on those two developments, and encouraged the City Council to insure that the ecological steps being <br />taken on the projects are protected through the appropriate covenants. <br />PAGE 2 <br />►