HomeMy WebLinkAbout02-08-2018 Admin Minutes
MEETING MINUTES
ADMINISTRATION COMMITTEE
February 8, 2018 8:30 AM
County Board Room-Government Center
County Board Room - 1101 Carmichael Road, Hudson, Wisconsin
CALL TO ORDER
ROLL CALL
APPROVAL OF MINUTES
Attendee Name Organization Title Status Arrived
Roy Sjoberg St. Croix County Chair Excused
Tammy Moothedan St. Croix County Supervisor Present
Jill Ann Berke St. Croix County Vice Chair Present
Scottie Ard St. Croix County Supervisor Present
Shaela Leibfried St. Croix County Supervisor Excused
PUBLIC COMMENT
Darla Meyers spoke against mass transit.
BUSINESS ITEMS
1. Resolution Awarding the Sale of $27,000,000 General Obligation Highway Maintenance
Facility Bonds, Series 2018A; Providing the Form of the Bonds; and Levying a Tax in
Connection Therewith
Joe Murray from Springsted, the County financial advisor, explained the sale of the $27
million in bonds. The Aa1 credit rating was affirmed and helped with the bond sales.
Nine bids received, all beating projections. Northland Securities, Inc. was the lowest bid
with a true interest costs of 3.0051%. Net interest cost are $1.3 million lower than the
original projections over the life of the bonds. Annual debt costs are about $1.8 million
dollars per year, at a current rate of $0.20 per thousand dollars of equalized value. Call
provision after 10 years. Moved by Moothedan, seconded by Ard to approve Resolution
and awarding sale to Northland Securities. Motion carried on a roll call vote 3-0.
RESULT: APPROVED [UNANIMOUS]
MOVER: Tammy Moothedan, Supervisor
SECONDER: Scottie Ard, Supervisor
AYES: Tammy Moothedan, Jill Ann Berke, Scottie Ard
EXCUSED: Roy Sjoberg, Shaela Leibfried
REQUEST FOR FUTURE AGENDA ITEMS
ANNOUNCEMENTS & CORRESPONDENCE
ADJOURN
Meeting adjourned at 8:40am.
DATE OF NEXT MEETING