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A special meeting of the Common Council was held at City Hall in the City of Black River Falls on July 16, 2008 at 7:00 P.M. Alderpersons Austin, Johnson, Mathews, R. Eddy, Rahmlow, Olson and J. Eddy were present. Alderperson Onstad was absent. Mayor Danielson presided.
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Resolution 2008-8, A RESOLUTION AUTHORIZING EHLERS & ASSOCIATES, INC. TO SOLICIT A BID FOR $745,000 ELECTRIC SYSTEM BOND ANTICIPATION NOTES OF 2008 OF THE CITY OF BLACK RIVER FALLS, WISCONSIN was distributed.
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Resolution 2008-9, A RESOLUTION AUTHORIZING EHLERS & ASSOCIATES, INC. TO SECURE FINANCING FOR A $230,000 STATE TRUST FUND LOAN FOR THE CITY OF BLACK RIVER FALLS, WISCONSIN was distributed.
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City Utilities Manager Jerry Ewert reviewed the projects requiring the funding. The $745,000 involves design and regulatory requirements for the new dam and the $230,000 is for the recent repair of one of the hydros.
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It was moved by Alderperson Rahmlow, seconded by Alderperson Mathews to adopt Resolutions 2008-8 and 2008-9. Motion carried.
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RESOLUTION NO. 2008-8
A RESOLUTION AUTHORIZING EHLERS & ASSOCIATES, INC. TO SOLICIT A BID FOR
$745,000 ELECTRIC SYSTEM BOND ANTICIPATION NOTES OF 2008
OF THE CITY OF BLACK RIVER FALLS, WISCONSIN
WHEREAS, Wisconsin Statutes, Section 66.0621(4)(I) authorizes the City of Black River Falls (the “City”) to issue Electric System Bond Anticipation Notes of 2008; and
WHEREAS, the City needs to provide interim financing for the engineering, coring, and boring on the Dam and the Design of Gated Spillway, Minimum Flow Hydro Unit, and Rehabilitation of Appurtenances; and
WHEREAS, Ehlers & Associates, Inc. is the financial advisor for the City of Black River Falls;
NOW, THEREFORE BE IT RESOLVED by the Common Council of the City of Black River Falls, Wisconsin, that Ehlers & Associates, Inc. is authorized to solicit a bid for the purchase of $745,000 Electric System Bond Anticipation Notes of 2008 of the City of Black River Falls, Wisconsin.
Approved:
___________________
Ron Danielson, Mayor
Attest:
____________________
William Arndt, City Clerk
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RESOLUTION NO. 2008-9
A RESOLUTION AUTHORIZING EHLERS & ASSOCIATES, INC. TO SECURE FINANCING FOR A
$230,000 STATE TRUST FUND LOAN
FOR THE CITY OF BLACK RIVER FALLS, WISCONSIN
WHEREAS, Wisconsin Statutes, Section 24.66 authorizes the City of Black River Falls (the “City”) to borrow money; and
WHEREAS, by the provisions of Chapter 24 of the Wisconsin Statutes, the Board of Commissioners of Public Lands of Wisconsin is authorized to make loans from the State Trust Funds to municipalities; and
WHEREAS, the City needs to provide for the long term financing of the overhaul of Hydroelectric Unit No. 2;
WHEREAS, Ehlers & Associates, Inc. is the financial advisor for the City of Black River Falls;
NOW, THEREFORE BE IT RESOLVED by the Common Council of the City of Black River Falls, Wisconsin, that Ehlers & Associates, Inc. is authorized to secure financing for a $230,000 State Trust Fund Loan for the City of Black River Falls, Wisconsin.
Approved:
_______________________________________
Ron Danielson, Mayor
Attest:
______________________________________
William Arndt, City Clerk
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Mayor Danielson reviewed the bids received for the steel shell of the Jackson County Ice Arena. Gaier Construction Company submitted the low bid of $532,174. The Jackson County Ice Arena Building Committee recommended that the engineering for the steel shell be started at this time at a cost of up to $10,000. The engineering is anticipated to take 4-7 weeks. The other buildings for the renovation will be bid during this period so the Committee will know the exact cost to compare with the donations and pledges.
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It was moved by Alderperson Olson, seconded by Alderperson R. Eddy to authorize the engineering as above. Motion carried.
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It was moved by Alderperson Mathews, seconded by Alderperson Johnson to award the bid for the North/South Street in TID #4 to RWT, Inc. of Mondovi, WI at their low bid of $76,979.85. Motion carried.
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It was moved by Alderperson R. Eddy, seconded by Alderperson Rahmlow to adjourn. Motion carried.
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William Arndt,
City Clerk
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