HomeMy WebLinkAboutCity Council - 09/15/2009 - HRA APPROVED MINUTES
HOUSING AND REDEVELOPMENT AUTHORITY
TUESDAY, SEPTEMBER 15, 2009 7:00 PM, CITY CENTER
Council Chamber
8080 Mitchell Road
HOUSING AND REDEVELOPMENT AUTHORITY MEMBERS: Chair Phil Young,
Council Members Brad Aho, Ron Case, Jon Duckstad and Kathy Nelson
CITY STAFF: City Manager Scott Neal, Public Works Director Eugene Dietz, Community
Development Director Janet Jeremiah, City Attorney Ric Rosow, Finance Director Sale Kotchevar
and Recorder Jan Curielli
I. ROLL CALL/CALL THE MEETING TO ORDER
Chair Young called the meeting to order at 7:00 PM in shared session with the Council
meeting. All members were present.
II. COLOR GUARD/PLEDGE OF ALLEGIANCE
III. OPEN PODIUM INVITATION
IV. APPROVE MINUTES OF THE HRA MEETING HELD JANUARY 20, 2009
MOTION: Duckstad moved, seconded by Case, to approve the minutes of the
HRA meeting held on September 1, 2009 as publ i shed. Motion carried 5-0.
V. ADOPT RESOLUTION HRA NO. 2009-03 AUTHORIZING DEFEASANCE AND
REDEM PTI ON OF OUTSTANDING BONDS
Neal said the City's financial advisor has identified an opportunity to refinance bonds and
realize approximately $103,000 in cost savings. The 2000A bonds originally issued as
HRA bonds to finance Fire Station#1 on Scenic Heights Road will be redeemed. The City
will issue CIP bonds at a lower interest rate to realize cost savings.
Nelson asked if there are any other bonds we can do this with. Neal said this is something
we look at on a consistent basis. He said he wanted to give credit to Ms Kotchevar and her
staff and also to Mr. Paul Donna of Northwest Securities who assisted with the
refinancing.
MOTION: Nelson moved, seconded by Aho, to adopt Resolution HRA No. 2009-03
authorizing defeasance and redemption of outstanding bonds. Motion carried 5-0.
V. ADJOURNMENT
MOTION: Duckstad moved, seconded by Aho, to adjourn the HRA. Motion carried 5-0.
Chair Young adjourned the HRA meeting at 7:06 PM.