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Mr. Caldwell feels the bond market is strong now <br />and advised us to proceed with issuing the bonds <br />immediately. Once the bonds are issued, the City <br />has up to two years to utilize the proceeds. <br />Russ Caldwell detailed the bond underwriting <br />process for the sewer bond including a $1.30 rate <br />increase for residential service. Bond interest <br />rates are at a 5-year low and recommends to <br />proceed with issuing the bonds immediately. <br />Mayor Meier moved that staff be authorized to <br />proceed with issuance of bonds for the wastewater <br />treatment plant. Luce seconded. Unanimous. <br />APPROVAL OF ENGINEERING SERVICES - <br />CENTENNIAL ENGINEERING - SOUTH <br />BOULDER ROAD PROJECT <br />Phare explained that the 1986 Capital Improvement <br />Program is the So. Boulder Road project. The <br />project anticipates completion of four traffic <br />lanes, bike lanes, and some sidewalks on So. <br />Boulder Road from Via Appia to McCaslin. A large <br />portion of this project fronts County enclave <br />parcels on the southside of So. Boulder Road <br />between Washington Avenue and McCaslin Blvd. For <br />this reason the City has made arrangements with <br />Boulder County to participate in project cost <br />sharing and the County agreed that the City should <br />be the agency arranging and managing the project. <br />Staff requested a proposal from Centennial <br />Engineering to complete the design and prepare <br />project specifications. A good portion of <br />engineering has been completed on that portion of <br />So. Boulder Road from Via Appia to Washington <br />during 1985. <br />Cussen moved that Centennial Engineering be <br />approved for engineering services not to exceed <br />$53,000 for the South Boulder Road project. Mayor <br />Meier seconded. Unanimous. <br />APPROVAL OF ENGINEERING SERVICES - <br />ROCKY MOUNTAIN CONSULTANTS - <br />NORTH LOUISVILLE SEWER TRUNK <br />Phare explained that the Public Works Department <br />with assistance of RMC has been reviewing the <br />wastewater flows and capacities of the wastewater <br />collection system in the North Louisville drainage <br />area. The impetus for the study was the belief <br />that the existing lift station and certain <br />portions of the collection system were at or near <br />capacity and a flow monitoring program confirmed <br />this assumption. Cost analysis indicated <br />6 <br />