02:56Central to the meeting’s agenda was the consideration of Resolution 25-74, which focused on the sale of general obligation bonds initially set at $6,850,000. Municipal adviser Nick Anhut from Ellers and Associates presented the results from the bond bid opening, revealing that TD Securities won with an interest rate of 3.41%. The adjustment in the bond amount from $6,850,000 to $6,215,000 was due to an offering premium and prepayments by property owners. The final true interest cost was lower than anticipated at 3.418%, reducing the expected annual levy from $385,000 to $365,000.

09:15During discussions, a council member expressed reservations about the city’s continuous borrowing strategy, emphasizing the need for a more aggressive approach to limit future borrowing, particularly for street construction projects. Despite these concerns, the council unanimously authorized the bond sale, recognizing the financial benefits of the favorable interest rate.

10:42Following this, the council addressed Resolutions 25-72 and 25-73, which involved accepting a $225,000 grant from the Minnesota Pollution Control Agency (MPCA) to acquire a CCTV inspection truck and approving a related budget amendment. The purchase aims to bring in-house inspections for sewer maintenance, which had been outsourced at significant cost.

12:52The equipment, expected to provide a rapid return on investment, would address both routine and emergency inspections. Questions during the meeting focused on the equipment’s lifespan, estimated between 7 to 15 years, and the potential need for attachments to inspect residential lines, a capability deemed unnecessary as the city does not own these lines. The council approved the resolutions, agreeing to amend the 2025 sewer fund budget to reflect these changes.

17:41During the public comment period, a resident praised the new public works building, highlighting its size and management. The resident’s positive remarks added a light-hearted note to the meeting, encouraging others to visit the facility.

19:05The meeting also featured announcements of upcoming community events. These included a concert in the park featuring a Johnny Cash tribute and the “Summer in the City” meeting series starting the following week at Thor Park. These events aim to engage residents with city departments and provide entertainment and opportunities to discuss city affairs.