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home : news : news June 24, 2016

12/27/2012 9:36:00 AM
Shafer City Council approves bond refinancing, discusses illegal storage
by MATT SILVER


Shafer City Council met December 18 for a regular meeting. All council members were present along with five people in attendance. The council opened the floor for an open hearing to the public. Steve Peloquin of Lindstrom addressed the council. Peloquin was there to discuss his citation for illegal storage on his Shafer property. Peloquin has a piece of land that is land locked with no access except via the bike path. Peloquin provided a packet to the council that included court documents as well as aerial views of his and surrounding properties. Peloquin told the council his land is zoned industrial. Peloquin currently has a storage container sitting on his property. Peloquin pointed out that the adjoining property has 23 containers currently on it. Peloquin said that he was being charged with a mobile storage container code. The code was enacted in 2008. Peloquin stated that he would like to work it out anywhere but the courtroom. He then thanked the council. Next, Nick Anhut from Ehlers and Associates spoke to the council. Anhut told the council the refinancing bids had come in for the bond sale. They had only received two bids with the lowest interest rate being 2.39 percent from United Bankers and the higher bid coming in at 2.75 percent from Northland Securities. Anhut said that by choosing United Bankers, the city would see a savings of close to $40,000 over the life of the bond. Normally, the interest cost savings of a bond is expected to be at least three percent. These savings will come in at 9.8 percent. Over the life of the bond, the city can expect to not spend close to $180,000. Anhut told the council he needed a motion to get the sale moving forward. Mayor Kyle Johnson then made a motion to accept the bid from United Bankers for the sale of the bonds. Johnson said he had spoke with financial advisor Richard Hill and he was told it was a win win situation. The motion passed 5-0. The council then moved to consent the agenda by a vote of 5-0. In the engineer’s report, city engineer Jon Herdegen told the council he has a quote from Adkins and Associates for the inspection of city hall. The inspection is to hopefully find the cause of a moldy, mildewy smell in city hall. The quote is split into two areas of inspection, mechanical and architectural. The quote for the architectural was for $1,291 and the quote for mechanical came in at $2,750. Herdegen reminded the council the cost was not to repair any issues, but merely to find the cause of the smell. All council members agreed the quote was quite high and they urged Herdegen to go back to Adkins and ask them to trim the costs. They also agreed to table discussion until February. Finally, council member Cory Sellman notified the council that his last college course will fall on a Tuesday next quarter. Sellman told the council he could possibly be late for quite a few meetings and told the council if they wanted him to step down he would honor their wishes. The council agreed to allow Sellman to take classes and come to the meetings afterwards as soon as he could.





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