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m:Sf ■ <br />I, <br />.p: <br />h <br />f/ <br />p' <br />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 callable until <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 />Crude •'tated that fees incurred by her company are payable after <br />the ’ s are sold and proceeds delivered. She said that there is <br />no f- if the sale Is aborted. The City may incur a small cost If <br />the d .te 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 />Mc''rse 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 />(#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 oe discussed at a future <br />meet Ing. <br />(#17) SELECTION OF NAME FOR CITY HALL FRONTAGE ROAD <br />It was moved by Mayor Peterson, seconded by Jabbour, to select <br />Kelley Parkway as a name for the frontage road serving the new City <br />facilities. Ayes 3, nays 0.