JANUARY 27, 1998
Present: Don Guggemos, Gary Lenz, Bob Kegler, Mark Ollig.
Absent: Bonnie Quast, Attorney Eggert.
Mayor call for the special meeting.
Chief Henrich presented costs for battery back up civil defense sirens, which were approximately $3,000 per siren. Sale of existing sirens will be offered to an interested party. After discussion of costs, Lenz motioned to purchase the sirens from Federal without the battery back up at this time, and to purchase two galvanized poles at an estimated cost of $1200 each, Kegler seconded, unanimously carried.
Steve Mattson, Juran & Moody was present to discuss the sale of the $485,000 fire hall bond issue. Interest rates have lowered to 4.95 average coupon rate and the city saved approximately $23,000 in interest over 15 years by waiting for the rate reduction. Kegler motioned to adopt Resolution No. 277-01-27-98, providing for the issuance and sale of $485,000 General Obligation Fire Hall Bonds of 1998, and Levying a Tax for the Payment Thereof, Ollig seconded, unanimously carried.
Lenz motioned to adjourn, Kegler seconded, unanimously carried.
Betty Zachmann, City Clerk-Treasurer