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~ Budld Ut AppadIs: l dl iJly'I, 11. t idl IJLI i, Ivl J~ iCi I i i CRIJI( II ty I6LAY J 1, -u I J. I IIc U I b. Park, Recreation and Conservation Advisory Commission: Terry Lee Wilson, for a term cxpirng September 30, 2014. File 6180 c. Traffic Review Committee: Randy W. Cole, for a term expiring September 30, 2013. File 7399 8. COUNCILOR ACTIVITES AND UPCOMING EVENTS a. Councilor Spreitzer said that he enjoyed attending the Send Your Legislators Down the River event and the Porter Avenue Sharing Garden Dedication. b. Councilor Luebke said the he also enjoyed the Porter Avenue Sharing Garden Dedication. c. Councilor De Forest requested that all staff reports include information regarding funding sources for projects and requested an update regarding internal controls relating to employee purchasing. d. Councilor Haynes congratulated those involved with Cruise Night and Autorama on a successful weekend. 9. CITY MANAGER'S PRESENTATION - none. 10. REPORTS FROM BOARDS AND CITY OFFICERS a. Resolution authorizing the City Manager to acquire Tax Delinquent Properties from the Rock County Treasurer. Ms. Christensen referenced the table and photographs provided in the staff report regarding the six houses that the City is requesting to purchase from the Rock County Treasurer. She indicated that these six houses are in the worst condition and that it is in the best interest of the City to purchase and demolish the houses. Councilor Luebke moved to adopt the Resolution, and Councilor Haynes seconded. The motion carried 7-0. File 8102 b. Resolution amending the 2011 Capital Improvement Budget to reflect the inclusion of the payment of earnest money for the purchase of the NorthStar Radioisotopes, LLC project site. Economic Development Director Andrew Janke presented the Resolution and the accompanying information regarding the acquisition of 13.14 acres of land owned by MLG/BRC Beloit LLC and 19.9 acres of land owned by Turtle Creek Development LLC for the NorthStar project. Councilor Van De Bogart moved to adopt the Resolution, and Councilor Haynes seconded. The motion carried 7-0. File 8463/8505 c. Resolution authorizing the City's Acquisition of 13.14 acres of land owned by MLG/BRC Beloit LLC for the NorthStar Project. Councilor Luebke moved to adopt the Resolution, and Councilor Haynes seconded. The motion carried 7-0. File 8505 d. Resolution authorizing the City's Acquisition of 19.9 acres of land owned by Turtle Creek Development LLC for the NorthStar Project. Councilor Newnham moved to adopt the Resolution, and Councilor Spreitzer seconded. The motion carried 7-0. File 8505 e. Resolution authorizing the Issuance and Sale of Approximately $8,645,000 in General Obligation Refunding Bonds, Series 2011. Finance and Administrative Services Director Paul York explained that the Resolution was amended to include bonds from the 2004 issuance for a total of $11,080,000 in bonds, which were sold this morning on the open market. He indicated that the sale of these refunding bonds would save the City almost $900,000 in interest payments and debt service over the life of the bonds. Dawn Gunderson of Ehlers, Inc. indicated that JP Morgan Chase of Milwaukee has purchased the bonds and will hold them in their investment portfolio. She also indicated that the City has retained its A+ bond rating from Standard & Poors. Councilor De Forest moved to adopt the Resolution, and Councilor Newnham seconded. A roll call vote was called with Councilors De Forest, Haynes, Van De Bogart, Leavy, Luebke, Newnham, and Spreitzer voting in favor of the Resolution. File 8463 11. At 7:40 p.m. Councilor De Forest moved to adjourn the meeting, second by Coun ilor Luebke. The motion carried 7-0. Rebecc S. Houseman City Clerk www.ci.beloit.wi.us Date approved by Council: 10-03-11