SPECIAL MEETING OF THE CITY COUNCIL

CITY OF WEBSTER, SOUTH DAKOTA

 

            Council room, City Hall, Webster, South Dakota, April 13, 2010, at 12:00 p.m. a special meeting was held with Mayor Mike Grosek presiding.  Council members present:  Roger Monson, Wayne Klungseth, Dave Jesme, and Morgan Dorsett.  Staff:  Linda Hoberg.

            Motion by Monson, seconded by Jesme approving the second reading of Ordinance #456 as follows: 

            ORDINANCE NO. 456 AMENDING ORDINANCE NO. 452

 

BE IT ORDAINED as follows:

Ordinance No. 452 shall be amended to add:

 

5.07.  Build America Bonds.  The City may designate the Bonds as “Build America Bonds” under Section 54AA of the Internal Revenue Code of 1986, as amended (the “Code”) and the City may elected under the Code Section 54AA(g) to receive a credit from the United States Treasury equal to 35% of the stated interest paid on the Bonds as provided in Code Section 6431.  The City covenants to comply with the requirements of Section 54AA(g) of the Code to assure eligibility of the City for receipt of the direct payment interest credit.      

 

        Section 2.  All other provisions of the Ordinance shall remain in force and effect as passed.

 

The above and foregoing Ordinance was read by Mayor Grosek and was moved for adoption by Monson seconded by Jesme and upon roll call vote,

 

voted aye, Dorsett, Klungseth, Monson, Jesme

 

voted nay, no nay votes

 

whereupon the Mayor of the City Common Council declared the Ordinance to be duly passed and adopted.

 

                                                                        Mike Grosek

                                                                        Mayor

 

ATTEST:                                                        

 

 

Linda Hoberg

Finance Officer

 

(SEAL)

 

First Reading:  April 7, 2010

Second Reading:  April 13, 2010

Adopted:  April 13, 2010      

Published:  April 19, 2010     

Effective Date:  April 13, 2010

All councilmen voting aye.  Motion carried. 

 

            Motion by Jesme, seconded by Monson approving the plat for Wik Addition in NW ¼ of Section 1, Township 121N, Range 56W, Day County, SD.  All councilmen voting aye.  Motion carried. 

            The resignations of patrolmen Wyatt Koens and Ryan Kiefer were accepted with a motion by Monson, seconded by Klungseth.  All councilmen voting aye.  Motion carried. 

            Motion to adjourn by Jesme, seconded by Dorsett.  Motion carried. 

 

           

                                                            _____________________________________

                                                            Mike Grosek, Mayor

_________________________________

Linda Hoberg, Finance Officer         

This institution is an equal opportunity provider, and employer. 

 

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