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MINUTES OF THE <br />ORONO CITY COUNCIL MEETING <br />Monday, February 13, 2017 <br />7:00 o'clock p.m. <br />Walsh stated he did reach out to some people who did know Mr. Reeder and that they felt he was very <br />professional and knowledgeable. Walsh stated he would concur with the sentiment of the others on the <br />Council. <br />Seals, moved, Crosby seconded, to direct the City Attorney to negotiate terms of a contract with <br />Doug Reeder. Vote: Ayes 5, Nays 0. <br />18. CLOSE FUND 317 - 2004 GO IMPROVEMENT REFUNDING BOND — RESOLUTION <br />Loftus stated this item, as well as Item No. 19, consists of closing a general obligation bond that has been <br />paid off. The City is required by the state to collect 105 percent of the City's debt obligation so when a <br />fund is closed out, there is a positive balance. Loftus stated that balance can be put toward the Pavement <br />Management Fund or a different fund if the Council so chooses. <br />Loftus noted the City was not able to close them out until the beginning of February but that there is the <br />opportunity now to close out those funds and transfer the fund balance. Staff is recommending the <br />balance be transferred to the Pavement Management Fund but the Council could consider another fund. <br />Walsh noted the total is approximately $182,000 between the two and that he would recommend that the <br />money be transferred to the Pavement Management Fund. <br />Seals stated the Pavement Management Fund makes the most sense. Seals asked how long the money has <br />been sitting there. <br />Loftus indicated they have just been paid off. <br />Seals asked if there are any other funds that will be paid off in the near future. <br />Loftus indicated there is not. <br />Crosby moved, Dankey seconded, to adopt RESOLUTION NO. 6723, a Resolution to Close the <br />2004 General Obligation Refunding Bond Fund, and to transfer the equity to the Pavement <br />Management Fund. VOTE: Ayes 5, Nays 0. <br />19. CLOSE FUND 320 - 2009 GO IMPROVEMENT REFUNDING BOND — RESOLUTION <br />NO. 6724. <br />Crosby moved, Dankey seconded, to adopt RESOLUTION NO. 6724, a Resolution to Close the <br />2009 Generation Obligation Refunding Bond Fund, and to transfer the equity to the Pavement <br />Management Fund. VOTE: Ayes 5, Nays 0. <br />*20. AUTHORIZATION FOR DISPOSAL OF WEAPONS <br />Printup moved, Crosby seconded, to authorize the disposal of the weapons through Streicher's and <br />Frontiersman as outlined in Police Chief Farniok's February 13, 2017, memorandum, with the <br />Page 17 of 18 <br />