##VIDEO ID:iOikxkEupJM## let the record reflect we do have a quorum member Luger member onstad member Schilling member jger and mayor Iverson are present please stand for the Pledge of Allegiance I pledge aliance to the of the United States of America and to the Republic for which it stands one nation under God indivisible with liy and Justice all right open forum is anybody here for open Forum see none no okay we'll move on to number one on the agenda consider approving the minutes of the work session meeting of the Wyoming Minnesota city council for September 17th 2024 do we have any comments or questions if not we need a motion to approve so moved we have a motion to approve by member Luger do we have a second second we have a second by member Schilling all in favor I opposed so approved number two on the agenda consider approving the minutes of the regular meeting of the Wyoming Minnesota city council for September 17th 2024 there are no comments or questions do we have a motion all moved okay we have a motion by member Schilling do we have a second second second by member Luger all in favor I opposed so approved consent agenda number 34 five and six does anybody wish to pull an item from the consent agenda seeing none we need a motion to approve consent agenda number 3 four five and six do we have a motion so moved we have a motion by member Luger do we have a second second second by member onstead all in favor I opposed so approved acknowledge receipts of reports of Officer boards commissions and department heads number 7 8 9 10 and 11 does anybody wish to pull a report seeing none we'll move on to Communications this is going really fast good job all right uh number 12 Comfort Lake Forest Lake Watershed District the CFL WD Watershed Champion award 2024 who's going to speak on this great award um I can speak on that mayor nice uh thank you mayor members of council um this is a Communications is something we wanted to share with you we were um pleased to be selected this year for the um comfort Lake Force Lake Waterside districts um it would be Champion excuse me water Champion award mainly for our enhanced strepping program um being a supporter of the highway 61 Sunrise River Wetland project and then also the council working for writing letters to support for the Heth Avenue North iron uh enhancement sand filter made on that so um we do have a great relationship with the Comfort Lake Forest Lake Watershed district and look for opportunities to work with them and they're have been a strong supporter of the city so um we were um lucky enough to be selected for that and also uh to be an attendee at their banquet and be presented with that award um the ward is up there in front if anyone would like to pass it around to council and um I know mayor Iverson and a public Public Works superintendent Reeves did attend um the Comfort Lake Force Lake Watershed annual meeting so it was a lot of good information we received can I add something to that certain so we had um the homeowners from heims Lake win an award as well so that was super exciting to have them there exciting to have somebody in our community also something yes yeah so they were pretty happy too so congratulations to them if they're watching mayor and yes Council if I could add that uh the public works department is very proud of this award and and uh take all topics related to to water very seriously um and I would like to add that we have an operator on the crew that has uh taken ownership of the enhanced street sweeping program and has been doing a wonderful job um got already One Sweep done we like to do that in advance of our flushing so we don't flush sediment um down into the storm sewer system so he's already got one done and and we're going to be continuing more once the folage starts to fall so that's awesome really appreciate that and I know our residents do too so you guys are doing really a great job thanks yeah it's nice to be recognized for this and and the crew is proud to have it so yeah thank you thank you all right number 13 new business um to consider resolution 24195 a resolution providing for the competitive negotiated sale of $1,975 th000 General obligation bonds Ser series 2024a Mr Lynwood are you starting us off first as an introduction give a brief introduction but then we do have Chris Hogan here from Baker Tilly to give um some background on today's sale so essentially today was the sale date uh for the city's uh 2024 General obligation Improvement bonds and with that uh like I said Chris hogen from Baker Tilly here will be to give a brief presentation how that sale went today gra thank you uh mayor and members of the council I'm Chris Hogan from Baker Phil serving the city as the municipal advisor um I'm here tonight to present the results of the city's Bond sale that happened earlier this morning uh the city marketed uh 1, 975,000 General obligation Improvement bond series 2024a proceeds of those bonds are going to be used to finance the city's 2024 Street Improvement projects uh earlier in September we had had a market rate indication cost of rate of 3.42 s last week looking at the market our estimate was a rate of 3.3 today's result had a winning bid of 3222 and that was from Brownstone Investment Group LLC this is uh the bid results so the city received five bids um you can see from top to bottom how close those were the lowest being the 3.22 and and the highest been 3.34 uh this is just a graph I think I showed it last time I was here but this is a fiveyear indices of a 20year um Geo bond that would be the dark colored and you can see where we are just it's kind of nice to see where we are over five years but specifically this year in the last few months uh we happen to be at the lowest point right now in September than we have been since March around March of this year uh you know peing in the and just kind of slowly going down um with the FED cut that that U that helped that graph come down so uh this slide is just I want to talk a little bit about um um when a issuer like yourself is in the market to sell bonds um you typically have those rated so why do we rate bonds um it's it helps investors know and provides them information of the measure of the city's Financial strength and their ability to repay the debt it serves as at third party assessment uh it supplements investors due diligence and typically the well the stronger the rating the lower the interest cost oh I did want to point out of that's fine to move on to the slide um part of the rating process because it's something we don't talk about very often but it's very integral integrate integral to the um s selling of bonds so um again when you go through a rating process it's it's a bond call we have a call with the rating agency so we did that call on uh July 31st and it was myself and Rob Grant and the Moody's analyst and uh we get you get a before that you get a list of the agenda and questions and then you get an opportunity on that call um to you know talk about everything that's going on at City all the great things that are going on the city and I would have to say Rob did a terrific job of doing that and as you can see um this time the the rating report or the rating they gave you an upgrade at a A2 from a dou A3 so that's one lch up which um is fantastic U part of the rationale that they provided for that rating upgrade was the assistance the city consistently has robust reserves the local economy is a credit strength and strong with strong residential income mod modest leverage below medians and um I just did this little analysis comparing what one notch rating on this bond issue is like a $6,000 savings so that may not seem a lot but if you did A10 million deal that equates to 60,000 so it is it is significant a rating upgrade like that is is amazing and again it's a great reflection to all the work that Rob does and his financing team and the council for the policies that they set and really the dedication that everyone has for the members of the city next slide this is just a a table that shows the three main um Bond reading agencies um I circled here where you guys are which is2 which is a very high grade credit it's like you can only go two notches higher so that's exceptional So based on the pricing I would recommend approving the resolution awarding the 1, 765,000 general obligation improving bond series 2024 a to Brownstone Investment Group based on their low bid of 3.22% great you all right um I will ask this Council have any questions uh no questions I'm happy all right pretty good question yeah thank you so much you really appreciate that all right so we need a motion to approve resolution res resolution 24195 a resolution approving the competitive negotiated sale of 975,000 General obligation Improvement bonds uh serial 2024a I'm going to make that first motion do we have a second second we have a second by member onstead all in favor I opposed all right that's exciting uh number 14 to consider a proclamation declaring October 1st through October 31st 2024 as manufacturer month in the city of Wyoming probably one of the many favorite things I have going on here but I love this event um through the county so Mr Lynwood are you doing this or Mr MC be Mr McFarland awesome uh honorable mayor members of council uh the item before you is for the um city council to decare the month of October as manufacturers month um this is something you guys have done before typically annually um and largely because of how important manufacturing is an industry is to the state the county and and specifically the city of Wyoming it's it's all over um the report does highlight um some of the statistics for manufacturing in shago County such as the fact that in 2023 there are 89 manufacturing businesses here and they employ 2,418 people um and those total wages are over 152.5 million which makes it the second largest total payroll among business sectors in the county um that also accounts for 17.5% of all the private sector employment um within the county um so just very important here very important to the state in general um in conjunction with that um with that the shago county H Eda um representatives from deed um the school districts of North Branch Forest Lake um sh andago lakes and the city of Wyoming um staff have organized a manufacturing event um the city of Wyoming um that'll run with this month we did the same thing last year I don't know if actually that started in 2022 or if it kicked off last year prior to my um arrival either way the event will take place on Monday October 9th at Split Rock same place it was last year um from 8:30 to 1:30 p.m. um it's going to allow students to visit local business businesses from within the county and to provide opportunities for career exploration so that's where they have like a large Expo within split rocks um numerous booths from the the local businesses that show off kind of what they do sometimes interactive they'll have VR or they'll just have booths with like you know firet truck or motorcycle who knows but a lot of things out there great event um and so yeah the item before you then would be to just declare the month as manufacturers month okay great I've attended every year I've been able to speak every year um just on how great manufacturing is and Kids that actually are going to P Pine County Tech and um also credit for like for bringing back some of that Tech as well um I think that's super important that we have those round um those students that are able to whether it's college or pine Tech or do whatever they um want to do so it brings in good money so um so questions uh we'll start with uh member onstead I have no questions member Shilling no questions thank you for the information member joerger no questions member Luger no questions all right so uh we need a motion to approve the proclamation declaring October 1st through October 31st 2024 is manufacturer month do we have a motion so moved we okay so uh our first will be member lcer our second member onstead does that work sure it's about what I okay sounds good uh all in favor I opposed so approved um we are going to number 15 is to consider going into a Clos CL door session before we do that um we'll do our reports for council's um for each council member first we'll start with member ler I have no report oh no I attended the work session ahead of this that's my rep thank for attending all right member onstead I to attended the work session just prior to this okay member Shilling I also attended the work session prior to this and thanks for the couple that showed up right member jger oh I also attended the work session before this and thank you commissioner mka for popping over to talk to our residents and thank you all for coming thank you for watching I attended the Planning Commission The Watershed award program um coffee with the cops that's one thing that I did not get to this week so do you want to maybe talk about it a little bit sure tomorrow morning oh is it tomorrow well I'll be there oh no McDonald uh McDonald's and Wyoming between 8 and 10 a.m. 8 10 yep I will be there and our uh IC poet Cadet will be there as well people like to kind of hear his story about how he's transitioning to law enforcement so yeah okay so McDonald's tomorrow from 8 to 10: yes correct all right perfect I think that's wonderful that we do that yeah don't care with that so um and then Saturday I am actually going to be a part of s serving our troops um and we have I'm trying to remember the number it was over 1,500 troop members that will be going to Kuwait and so I'll be helping serving um steak dinners um usually the mayors that have a family or a resident that is going to be deployed are the ones that are invited to go out and help if we know who that family is if somebody could let me know that'd be great otherwise I'll try to search them out but it's an honor actually um to be a part of that and let those family know that we um we care about them and we support them so I'm looking forward to bringing back some stories from that so all right uh and thanks everybody for watching we are going to just take a quick recess before we go on to number 15 which is a closed door session so commissioner M matska did you need to um well I just if you have anything you want to tell that I should be working on um and otherwise maybe if I could be because they don't all long the whole session oh it'll be a while okay yeah is there anything I need to be working on there's um um I should remind ifcc can just say quickly um there's a general election coming Minnesota does really well in getting people out to vote we want to see our state still at the top of the states as far as uh voting participation uh you can still register online up until October 15th at men votes.gov and you can check to see if you're registered sometimes people don't know or you're not sure please use that resource check with uh the Chisago County there's already voting in early voting is happening right now at the courthouse and it's being used by a lot and we're so glad to see that great uh otherwise thank you for letting I enjoyed listening to the meeting it was very fast so very fast and if you can just keep trying to work getting some funds this way for our residents that would be great just keep working on that thank you for the um U cooperation you give to the county this is a great um city council congratulations on The Great Bond rating that's your word so congratulations appreciate that all right we're just going to