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Walnut Grove, MN
October 27, 2009
The City Council met in a special session on the 27th
day of October, 2009 at 7:00 PM in the Council Room.
Present: Greg Hansen, Xiong Yang and Leonard McLaughlin
Also present: EDA members Dave Hoyt, Dennis Klute, Terry Yang,
Bruce Baker, Mike Bentz and Steve Matson from Northland
Securities.
Mayor Hansen presided at the meeting
Steve Matson presented the Council and EDA with refinancing
options for Country View. Currently, interest rates on the
bonds sold for Country View are between 3.5 – 5.25%, for an
average of 5.11%. He believes that when interest rates come
down to an average of 3.84%, he would recommend going ahead with
refinancing. He believes it is just a matter of time before this
happens and the savings could be up to $471,000 after all
refinancing expenses are paid. The City Council will continue
this discussion at the next City Council Meeting before making
any decisions.
Motion to Adjourn by Leonard McLaughlin, second by Xiong Yang to
approve the Land Use Application from Jared Maas. All voted in
favor, motion carried.
Motion to Adjourn by Leonard McLaughlin, second by Xiong Yang.
All voted in favor, motion carried.
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