City Council Minutes 06-3-2008 SpecialSpecial Council Minutes: 6/3/08
MINUTES
SPECIAL MEETING - MONTICELLO CITY COUNCIL
Tuesday, June 3, 2008 - 7 a.m.
Members Present: Clint Herbst, Wayne Mayer, Tom Perrault, Brian. Stumpf and Susie Wojchouski
Members Absent: None
1. Continue Recessed Meeting
Mayor Herbst continued the Special Council meeting recessed from May 29, 2008, at 7 a.m.
and declared a quorum present. Introductions were made.
2. Consideration of Resolution to award Telecommunications Revenue Bonds (FiberNet
Monticello) Series 2008.
BRIAN STUMPF MOVED TO GO INTO A CLOSED SESSION. SUSIE WOJCHOUSKI
SECONDED THE MOTION. MOTION CARRIED UNANIMOUSLY.
Milda Hedblom, Dain International, led the discussion in the closed session relative to
impacts of the pending lawsuit.
John Baker, Greene Espel law firm, provided a legal update.
Brenda Krueger, Springsted, Inc, and Bryan Nelson, Oppenheimer & Co, Inc, provided an
update on bond financing for the FiberNet project in light of the pending litigation.
WAYNE MAYER MOVED TO CLOSE THE SESSION AND MOVE INTO REGULAR
SESSION. BRIAN STUMPF SECONDED THE MOTION. MOTION CARRIED
UNANIMOUSLY.
BRIAN STUMPF MOVED TO ADOPT THE RESOLUTION APPROVING ISSUANCE
OF TELECOMMUNICATIONS REVENUE BONDS (FIBERNET MONTICELLO
PROJECT), SERIES 2008 IN AN AGGREGATE PRINCIPAL AMOUNT OF UP TO
$27,000,000 AND AUTHORIZING THE EXECUTION AND DELIVERY OF AN
INDENTURE OF TRUST, A BOND PURCHASE AGREEMENT, A CONTINUING
DISCLOSURE AGREEMENT, A SUPPLEMENTAL AGREEMENT, A PRELIMINARY
OFFICIAL STATEMENT, A SUPPLEMENT TO PRELIMINARY OFFICIAL
STATEMENT, A FINAL OFFICIAL STATEMENT, AND CERTAIN DOCUMENTS
RELATED THERETO. WAYNE MAYER SECONDED THE MOTION. MOTION
CARRIED UNANIMOUSLY.
Special Council Minutes: 6/3/08
3. Adiourn
WAYNE MAYER MOVED TO ADJOURN AT 8:45 A.M. BRIAN STUMPF SECONDED
THE MOTION. MOTION CARRIED UNANIMOUSLY.
Recording Secretary