Dickinson's rating with Standards & Poor has increased.
Linda Carlson, interim city administrator, reported at Tuesday's city commissioners meeting that the city has received a global rating report on bonds issued in 2013 to finance the West River Community Center expansion.
"S&P revised its outlook to stable from negative on dickinson series 2013A and taxable series 2013B sales and hospitality tax revenue bonds," Carlson said, "and affirmed its triple B+ rating on the bonds."
The outlook revision reflects their view that pledged sales and hospitality tax revenues have stabilized following sharp declines in 2015 and 2016, Carlson said.
"With relatively stable oil prices supporting an uptick in oil drilling in the region will continue to provide at least adequate near-term coverage on the bonds," she said.
This report has been done ever year, Carlson said.
"With our audits being completed and bonds going down, and we'll have the small series paid off in 2019, they will come in and doing another rating for us," she said.
She added, "I see it continuing going up and staying stable."
Commissioners also approved contract for a 2017 audit with Bismarck-based firm Eide Bailly.
An engagement letter presented to commissioners.
"It is exactly the same engagement letter we've had for the last three audits," Carlson said, "and the pay has been almost exactly the same."
Carlson said that, per the North Dakota Century Code, the city has two years to complete an audit for any year.
Audits for all other years have been completed.
"This will be the last one and then we will be in compliance with our audits going forward," she said. "We would like to get this going."
Eide Bailly representatives are already in the city and have started work, Carlson said.
"We would like to be able to have the '17 done and completed by the end of this year," she said, "so then we will be in compliance with our audits going forward."
An annual maintenance certification with the North Dakota Department of Transportation was also approved.
"What it states is that (the city) is properly inspecting and maintaining projects that have been constructed using federal aid," Loretta Marshik, assistant city engineer, said, "and that we're doing that to the standards specified in the DOT cost participation, construction and maintenance agreement that we enter into with each project."
The projects, Marshik said, include Villard Street paving from the Interstate-94 east and west exits; traffic signals on Highway 22 from 14th to 23rd streets; railroad grade separation; and a section of Museum Drive.
A development agreement with Odyssey Theaters for a new eight-screen theater complex to be located downtown was revised.
Per the agreement, the site will have three sidewalk lights, with the city now paying for the materials and labors for the installation of one light.
An agreement was previously approved by the commission to only include the materials, but not the labor, for the light.
City Attorney Jan Murtha said she reached out to Odyssey Theater Vice President Bryan Sieve about the provision in the contract.
"Mr. Sieve did object to the light pole and said he wanted the city to cover the labor, which had not been part of discussions until immediately prior to approval," she said.
The agreement has been revised to reflect this preference.
The cost for the amendment, with labor, is less than $2,000.
Mayor Scott Decker brought to the attention of commissioners that a planned Dickinson Hills development to be located on I-94 asked for a two-week extension to meet its arrangement with the city.
In exchange for the city completing a $1.3 million section of road for the project, Five Diamond Development was told to present the promised four signed leases to the city by the end of October.
"They're asking for two more weeks," Decker said.
Commissioners gave their approval for Five Diamond to deliver the leases by Nov. 11.