11-28-2005 Council Minutes - Laserfiche WebLink

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a o !� MINUTES OF TAE ORONO CITY COUNCIL MEETING Monday, November 28, 2005 7:00 o'clocIk p.m. ROLL The Council met on the above - mentioned date with the! following members present: Mayor Barbara Peterson; Council Members Bob Sansevere, Jim Murphy, Jiro White, and Lili McMillan; City Attorney Rolfe Worden. Representing Staff were City Administrator Ron Moorse, Planning Director Mike Gaffron; Engineer Tom Kellogg, Public Service Director Greg Gappa, and Recorder Jackie Young. Mayor Peterson called the meeting to order at 7:02 CONSENT AGENDA 1. APPROVE /AMEND Items 4, 7, 8, 9, 10, and 11 were added to the Consent Murphy moved, Sansevere seconded, to approve VOTE: Ayes 5, Nays 0. APPROVAL OF MINUTES followed by the Pledge of Allegiance. Consent Agenda as amended. *2. REGULAR CITY COUNCIL MEETING OF NOVEMBER 14, 2005 Murphy moved, Sansevere seconded, to approve the minutes of the Regular City Council meeting of November 14, 2005, as submitted. VOTE: Ayes 5, Nays 0. ,I 3. APPROVE SALE OF PUBLIC PROJECT,REVENUE BONDS AND AUTHORIZE EXECUTION AND DELIVERY OF LEASE AND' PURCHASE OPTION AGREEMENT AND RELATED DOCUMENTS — RESOLUTION NO. 15402 I Tom Kuehn, Orono Financial Director, and Mark Ruff, Ehlers & 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, with the winning bid being submitted by Wells Fargo Brokerage Services at a true interest rate of 3.8580 percent. Ruff noted these PA