COUNCIL PROCEEDINGS
August 29, 2016

The Oelwein City Council met in special session Monday, August 29, 2016. Mayor Sherrets called the meeting to order at 5:00 P.M.

Roll Call PRESENT: Cantrell (speaker phone), B. Weber, Christensen, Stickel, Milks (speaker phone)
ABSENT: M. Weber, Dillon
ALSO PRESENT: Mulfinger, Rigdon
Maggie Burger from Speer Financial was also present on speaker phone

Stickel questioned the terms of the bond which has a 10 year pay back from water revenue. The last payment is due 2027 with level payments but can be paid early in 2023.

Sherrets inquired if the infrastructure fee would be all used up for this. Maggie Burger stated it would be tight in 2018, but in 2019 we’ll get relief on the payments since we’ll have a full year of East Penn water payments on the books.

Resolution #4917 A motion was made by Stickel, seconded by Christensen to adopt Resolution No. 4917 Approving Preliminary Official Statement for Water Revenue Bonds, Series 2016D.

Ayes: Cantrell, B. Weber, Christensen, Stickel, Milks
Nays: None
Motion Carried

Adjourn A motion was made by B. Weber, seconded by Cantrell to adjourn at 5:15 P.M. All voted aye.
Motion Carried

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PEGGY SHERRETS, MAYOR

ATTEST:

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DYLAN MULFINGER, CITY ADMINISTRATOR

I, Dylan Mulfinger, City Administrator in and for the City of Oelwein, Iowa do hereby certify that the above and foregoing is a true accounting of the Council Proceedings held August 29, 2016 and copy of said proceedings was furnished to the Register August 30, 2016.

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DYLAN MULFINGER, CITY ADMINISTRATOR

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