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Council opens public hearing and approves $5.5M presale for North Shore street reconstruction bonds
Summary
After a public hearing with no public comment, the council adopted a street reconstruction plan and authorized a presale resolution for up to $5.5 million in general obligation bonds to finance the North Shore and related street projects; staff will pursue a credit rating and solicit bids.
Forest Lake City Council opened and closed a public hearing on a street reconstruction plan for projects that include work on North Shore Drive and then approved both the plan and a resolution authorizing a presale to issue up to $5.5 million in general obligation street reconstruction bonds.
Dan Titra, municipal adviser with Ehlers, explained the steps the city must follow under state law: noticed public hearing, adoption of a reconstruction plan, a 30-day reverse-referendum period during which…
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