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OIHT MEETING OF COONCTT awmheld novemb ^8^^?S™ commissionJtal and a v addressedstaiiment purchase contracr JIk that which^ you have the cash advantages tnBars which you have bonded^^vov** ™3ke money during in*E%o^„ ‘’"'1"'= “>« y°“Bctualli make Ibouiat 8 0"! l/«*ro “ ' ’ O'- 7^1/S»®anrv*®°‘"®®o you acf“ii-ai 1I and you areUp^ and doM ^^®*^*^ility^iith^thafc°"“® ">oney. Thisup and down years you stil? mSreyTvYi’iahW^o"rt/^?l“'‘°"'’'"'’a“bu1\dL\°fund^ 1/2 million and the <br />t Bel-'nhY'a "‘lll°a 10 b?l!/“tht'bu"il'=d’’®’'® "1' ’•oaso*indicated that ir and not pay <br />’^^'at you are^hrt^*” could invest the <br />make money over the life of ^t does two <br />ou flexibility to borrow from^fH secondly 1? <br />ed th"l?i^ two or ?hrS5 if <br />2 or 3 n,ff P^^i°®ophical question Mayor <br />ed if cash you nied ?o* V '"c 9<>t <br />n/ amount in our reserSn® ^®®P a buffer. <br />Carolyn Durde stated th/fM®! affected the city's <br />s very difficult t"o^7n them d™®"® ' ^haf l fst" <br />fund balance should Je! ?heTL^ Philosc^hy as* <br />=e lower than the Dr^,-J"®^ "®t like to see a <br />eo"i„* at an'^poiir® /e't?';- '''’?1' look atgoing to bond part and na„^®el^®® said assuminq <br />at would be your suaapci-? ^ part out of the <br />^ou say 50 - 50 or what^ ®uch of <br />fould^nl that the City wiif bf '*® a^’ould^ould need to be done to doing^ more of <br />overall scheme of things in Mi need money <br />^latively flexible, but ther“^'’"*’®°ta your borrowing <br />can borrow money for ® limited number of <br />'as brought to Moody's Lte‘nfi« facilities <br />ssipment, so this wul? not b " *'^® ®^*'y'sIS IS comiwg up. a surpirse, they ire <br />7 Grtbek"ltated thVt^tht^® ‘’i®®" selected, is this <br />jy sit® and the®Oro^o®sewe®r®p"l'it®^'«®KP®^‘' <br />Id B®® u® *'^at the City woufd^*.. -ohen asked if a <br />'vstai^n^"*’®r‘*®°" stated there Is theseyatml B,y ,ue and part <br />mm <br />ijk •'■'v^'-.'- <br />mmkmmmmm■wmmPrwm&.•"■ I a'H,■r?i^ <br />tMMM'-A <br />sm»’SMKr-!0mmmsAm.--: •V":;-v/-■^:' ■• ■" • V ":-^v^=m■::m <br />wmKmsmmmmmm. <br />aArva;.vAV.,-;'wmm^sipW' <br />iMB. <br />pm0mm^-wp--i^mrn ^; v.}^>-;,Viv^j:-iWkrpmtia^ <br />^ ^ <br />■■ f <br />mmm <br />■ ■ :y‘-'-4 J <br />-■■S <br />t <br />tv <br />'J!^ .1”' ..r4 iJOINTBTING OF COONCIL AND PIANNING COMMISSION HELD NOVEMBER 8, 1989of leasing is that you do not have to go for a referendum but that makes me uncomfortable because it sounds like we are trying to slip around the public. Grabek stated we can offset that by giving them information at public meetings. Grabek agreeded this will be one of the most difficult decisions the City has to make. Stating that he had not talked to anyone who doesn't realize the need for a facility. I think if you put it on a referendum and talk about it as a normal course of business and is explained to the public how it is going to be paid for, once we decide, where the building is going to be, and what it will look like and give them enough opportunities to come and talk to us they will come <br />to understand that what we are trying to put here is prudent and <br />it is the responsibility of a city government. I think to make a <br />decision the Council should be given a number of different <br />alternatives for financing along with the direction already given <br />of the kind of a ouilding we are looking at. <br />Bernhardson stated that we have a range of quality and rstaff can <br />put a package together as to what it will cost, take out what <br />additional site costs there are if we go to a different site and <br />what we can save from this site and then plug those numbers into <br />what we are looking for as far as cash, for a cash buy out, <br />general obligation bonds or some combination and a lease <br />purchase. <br />Mayor Grabek stated we have to put the figures together before we <br />debate where to put the facility. This would include the sale <br />price for the Crystal Bay and sewer plant site. Grabek directed <br />staff to make a list of steps that have to be completed in the <br />process and to put estimated completion dates on these. <br />ADJOURNMENT 7:42 P.M. <br />Motion by Mayor Grabek, seconded by CounciImember Nettles to <br />adjourn at 7:42 P.M. Motion, Ayes 4, Nays 0, Motion passed. <br />Jameslesl^V GrabekySta^or <br />ATT >T: <br />, __________________ <br />■borothy M./^allin, City Clerk <br />nr-Vv- idt'i <br />fr-; <br />RlSP^'WPr ■ <br />^ .V -1.:^- il; <br />fcSiifiiM^ 'A: ■ AV-;.A -A-: y^:^r.r >-V ; A ,■ A tAA'A a ^-vt yA; v^prTTTTvr.^ <br />:;-y^cAA-AL^;Av.:A:;;r>yA^i^A .7. <br />•r.,vv <br />r.< <br />..""S’. <br />:■■ ■■; <br />Fa :^:a -# <br />j' ■*v *"■ '■■•: ;■■ .'; ' <br />i. /fj* ■' •■ ' ■ <br />PIra : <br />mPP:- . <br />*." y'«|ri:VAA-:^~"S?AvAAA«AAA7i- <br />■ ....^^AAA»As7fAplM <br />l:::m <br />■v<m mmm <br />illiliflmasm <br />mAL?m:A ’mmmm <br />/S^iS#'y.Q <br />:.; :•■■ '-mmmmmmMprn <br />aa =a :-‘:'='j# <br />It 7mT'l -