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L <br />ORONO CITY COUNCIL MEETING <br />MINUTES FOR JUNE 8,1998 <br />Mel" <br />The Council met on the above mentioned date with the following members present: Mayor Gabriel <br />Jabbour, Council Members J. Diann Goetten, Charles Kelley, Barbara Peterson and Richard Flint. <br />Representing Staff were City Administrator Ron Moorse, City Attorney Tom Barrett, Senior <br />Planning Coordinator Michael Gaffron, Planner /Zoning Administrator Elizabeth Van Zomeren, <br />Director of Public Services Greg Gappa, City Engineer Tom Kellogg and Recorder Lin Vee. Mayor <br />Jabbour called the meeting to order at 6:37 p.m. <br />( 0) SHORELINE/HERITAGE AND EDGEWOOD HILLS SEWER PROJECT <br />Mayor Jabbour announced that the public hearing was postponed. <br />Gappa requested Council to adopt the resolution rescheduling the public hearing. He explained that <br />the project bids came in approximately $40,000 higher than the estimated costs. The estimates on <br />the Shoreline/Heritage portion of the project were accurate and the contractor agreed to do that <br />portion of the project at the bid price. The Edgewood Hills portion will be rebid, as the estimated <br />unit cost is $28,000 using the current bid. A public hearing for Edgewood Hills will be scheduled <br />10 for the July 13 Council meeting with new bid costs available. <br />A. DECLARE COST TO BE ASSESSED AND ORDER PREPARATION OF <br />PROPOSED ASSESSMENT - RESOLUTION NO. 4089 <br />0 <br />Gappa explained that the proposed resolution would be revised to include only the cost for the <br />Shoreline/Heritage portion of the sewer project. <br />Peterson questioned the 8% interest rate. Gappa explained that 8% was included but would be <br />reduced later. Jabbour confirmed that the interest rate would be 1% above the bonding rate and <br />could not exceed 8 %. Gappa noted that the letter sent to residents indicated the interest rate would <br />be approximately 6% based on the current bond sales. <br />Barrett requested that the wording in the resolution regarding the interest rate read "no more than <br />8 %". <br />Goetten moved, Kelley seconded, to adopt Resolution No. 4089 declaring the cost to be assessed and <br />ordering preparation of the proposed assessment, amending the costs to include only the <br />Shoreline/Heritage portion of the project and the interest rate to be stated as no more than 8 %. Vote: <br />Ayes 5, Nays 0. <br />1 <br />