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Sessic~ 1619, Iv[i_qt~, 1>age 8 Jul'~e 6, 1994 O residents of University Place Subdivision which expressed concern regarding the poor c}ml ity maintenance of the streets and other ~-!-!~n elw~a~nts of the subdivision. He notea that ma/ntenance is the develq~_r's responsibility un- merit of the cum~n ele~_~ts has not been done pruperly. Residents want the developer to place funds in an esck~w a___~3cunt that will cover ~-,..-~ ~uund until a satisfactory schedule of l~r and ~ is established. He asked the City to help in this matter so this subdivision will be an asset to the City. Ms. Carollrn Ccnley, 8248 A~oletcn, ~ cn behalf of the resla~nts of 8200-8300 ARoletcn, said they are re~_~-tirg a three-way stop sign at the in- tersection of Tamertun and Appleton. Mayor Majerus suggests4_ the residents take this request to the Traffic Cc~nissicn for their study and recu,~-nda- tion to Council. Ms. Roeie Knox, 8231 Appleton, said the sidewalk in front of her hum was in- stalled unevenly, and the rainwater runs down in front of her hcme and forms p~a~es. Her neighbor had the sidewalk ra~ed in fruit of her ba~e, and now water ~ f~ both a~rectices and either puddles or freezes, which is dan- gercus for pedestriar~. She said she has called the City many ~ but no cea has respoDa~a. Mayor Majerus a~k~a Mr. Ollerrlorff to follow up c~ this. Mrs. T~-~=~ec~ said the residents in this area paid to have the sidewalks and street put in, but the sidewalk was installed incorrect/y. BIlL NO. 8185 - ]~ZING AND DIRECTING THE ISSUANCE, SALE, AND nk~,TVMRy OF $4,475,000 OF ~ ORq.TGATIC~ BONE8 OF t~'/V~SITY Ci'I~{; PRES(RIBING ~E A~UAL ~AX TO PAY ~E PRII~ClPAL AND INIT~a~ST C~ SAID BC~I~; AND ~ZING ~ ~ DOCUMENTS AND ACI'IC~S IN O3M~CTIC~ THeI'll. Mayor Majerus asked Ma. Pete Finn, financial advisor ~ BoatEan's Bank, and Assistant City Manager Kimberley T~bly, to ~ forward. Ma. Finn ~jli- mentea all who work~_. cn the kxmd issue, noting that she _rece__ived unc~m] ified suf~ort. She mentioned that the impressive video to be shown later this eve- ning played an i~portant part in selling the bonds in New York. She notea_ the eig~lt bidders were ix~ressed with the City's financial information which result_~_ in a very favorable rate of ir~_~rest--4.92% f~. F~m~per Securities. Mrs. ~-,:~m noted that the cc~sorti~ m~king the seccra lowest bid included Px~al Bank in University City; however, Mayor Mayerus said the City is chli- gamma to save taxpayers as much mc~ey as possible. Ma. Finn hole4_ that the lead biblair of the cc~sortiu~ referred to by Mrs. Tn~mk~3n was Country Club Bank, which has a trading desk; ~ Bank does not. Mr. Ollendorff said he will (lbtain information relating the difference in costs to the City anung the bids. Ma. Finn said another indication that all bidders wanted to buy the bonds is that all of the bids were very clcee together. Bill Ma. 8185 w~s given its second readirg.