[0:04] previously mentioned
[0:09] costing
approximately $500,000 in cash
[0:23] financess.
[0:29] $95,000
[0:54] serviceely.
[1:16] I provided in the package
[1:27] authorized by statute.
using
[1:41] ultrives.
[2:01] question.
[2:09] » I'd maybe recommend it. I would probably
abstain.
[2:12] » Then we don't have
[2:16] » Well, then I'd maybe hand it like this.
So, conflicts of interest, you're you're
[2:22] disclosing it. Um I think
I think that would be satisfactory. I
[2:28] mean, it's being disclosed.
[2:32] » It's kind of a gray area.
[2:49] Okay.
>> So,
[2:51] » I'm not making anything up of it.
>> Yeah. You're You're not personally.
[2:55] » I I I would go with that.
>> Yeah. Go ahead and vote.
[3:00] » Okay.
>> All right. Do we have any questions for
[3:04] them
[3:07] there? Motion to approve?
>> I'll make that motion. Okay. Is there a
[3:14] second?
Second. All right. All in favor signify
[3:19] by saying I.
>> I.
[3:23] » Passes.
>> Thank you guys.
[3:28] » All right. We move on to 62,
which is issue bond for firet truck and
[3:34] water mane. Todd Hagen.
Welcome.
[3:52] the city bonds here.
[3:57] We always start out with pre-sale
reports
[4:03] and conditions of
[4:07] a couple options.
[4:10] Yeah. And I'll talk a little bit more
about that when appropriate.
[4:29] » Bonds
[4:32] options
[4:38] portion is at
000
[4:51] equipment
[4:55] truck
[5:07] issue.
[5:10] scale.
[5:34] The water portion of course is
[5:45] So yeah,
[5:54] also as a compction
[6:26] Approve
[6:33] 10 days or so.
[6:48] piece of equipment.
[7:13] is 576.
[7:20] Also,
city
[7:38] This bond is
qualified to sell
[7:58] about it.
[8:09] And
[8:26] know
[8:32] This is
[8:36] market.
[8:59] 75.
[9:19] We exist
high
[9:41] $5
[9:54] million for calendar year. So you can
invest your proceeds
[10:02] arbitrage
[10:06] fast
[10:09] for a while.
interest
[10:16] and I think we're using
your council everything.
[10:52] So, I'm here tonight for pre-sale.
[11:02] Agency calling
[11:08] period will end.
[11:12] see where we're at with that
statement
[11:18] that goes out.
I will come back
[11:23] with
[11:34] that as best we can. So
that council
[11:41] questions.
>> Um,
[11:43] » no questions, but just to talk a little
bit about the 15-year versus the 20-y
[11:47] year. I did propose both for council
conversation and what we want to do. Um,
[11:53] couple of things are, you know, staff's
recommendation after review is we do
[11:57] recommend the 15 year versus the 20-year
partly because, well, let's just take
[12:02] the the water um portion of the bonds
here. I mean, if we go 20-year, I mean,
[12:08] yes, the payment is is shorter, but
we're paying a lot more in interest. Uh,
[12:12] an additional $119,000 in interest,
which is quite a bit. Um, in full
[12:17] disclosure, we did do a rate increase
initially to help um cover this because
[12:23] we knew it was coming. Um, however, we
didn't know the full amount because of
[12:27] course, we didn't know fully what
interest would be at the time. Um, so if
[12:32] we do and and at that time the
calculation was based on a 20-y year.
[12:37] Um, so if we did a 20-year, we would be
about 44 cents short per account. Um,
[12:43] however, if we go with a 15-year, it'd
be we would have to as part of our rate
[12:48] analysis that we do again in the fall
because we know the water fund is going
[12:51] to continue to have phased increases.
Council's aware of that situation. Um,
[12:56] but as part of that, we would look at at
a$126
[13:00] and adding to make sure that the the
service debt is covered. And we would
[13:03] recommend to put that on the base fee to
ensure that revenue is coming in to meet
[13:07] the service debt demand. Um,
but with that said, um,
[13:14] you know, it is going to affect the
rates a little bit more, but um, saving
[13:18] long term on that interest the residents
does make a difference. So, I mean,
[13:22] staff would recommend that. And then in
terms of the fire, truck equipment side,
[13:27] again the plan for that is the first
three years of those payments um 15
[13:33] years it would equate to a little over
300,000 we would use internal reserves.
[13:38] However, in 2030 when we see a
significant decrease in our bonding debt
[13:43] um for the remainder life of the bo the
bond, we would add that amount to the
[13:48] levy and pay ourselves back which
roughly equates to about $23,000 a year.
[13:53] to pay ourselves back for what we use
for internal funds. That way the
[13:56] residents don't see any debt increase
impact again from the purchase of the
[14:02] fire truck.
So just a little refresher on the plan
[14:06] there. Um so with that open discussion,
it is fully a council decision. We can
[14:12] go either way of staff. Um
[14:17] » so either way the base rates got to go
up 44 cents or a buck 26.
[14:23] Correct. Now that we have what the
interest rate is,
[14:27] » where we're at,
>> better better understanding
[14:30] financial picture at this point.
[14:40] » 80 cents
save $119,000.
[14:47] » Correct.
>> Think anybody's going to miss 80 cents
[14:51] on their statement
[14:55] » save even more in the long run
>> a lot.
[14:59] So
[15:08] biggeriz
[15:22] more attractive.
[15:36] That's
[15:41] » sounds like the best way to do it.
>> Yeah,
[15:46] » you need a motion to Yes. Pick one or
the other.
[15:49] » Yep. There's Yeah, I would include it.
Um, so there's clear direction
[15:53] recommending the 15-year and then
approval of the the pre-sale approving
[15:57] the resolution and closed. And again,
we'll get that advertised in the paper.
[16:01] I'll get it sent over right away.
>> Sure.
[16:03] » Um, sometimes the paper gets a little
finicky. So, I'll let you know um for
[16:09] sure when it can be published, but I'm
hoping to get it published next week.
[16:16] Sure.
[16:34] » Okay.
Do we have a motion
[16:40] [clears throat]
[16:43] » for questions?
>> Nope. I guess I'll make the motion
[16:47] 15-year issued 15-year bond.
>> Okay.
[16:50] » Is there a second on that?
[16:54] » Any other discussion?
If not, in favor signify by saying I.
[17:01] » I.
>> Close.
[17:03] » Okay.
>> Passes.
[17:07] » A couple resolutions.
[17:13] Resolutions.
[17:17] Um for clarity, are you comfortable with
original motion including both?
[17:25] » Yeah.
>> Okay, then we're we're okay.
[17:30] » Oh,
>> okay.
[17:33] » Let me pull it up
>> then.
[17:36] » Yeah. No, sorry. Um that's a good point.
for the sale of the bonds first.
[17:42] » We'll do for the sale of the bonds and
then let's look for another motion and a
[17:45] second for the second one then. And
that's for the equipment certificate,
[17:48] right? Y.
>> Okay.
[17:51] » Is there a motion for the second
resolution?
[17:56] » I'm trying to find it so I know what I'm
[18:04] Yeah. The first one's for the pre-sale.
The second one is for the equipment
[18:08] certificate.
And that's the one we're doing is the
[18:11] equipment certificate.
>> Correct. And that's the one that, you
[18:15] know, again ties with the newspaper and
election portion that he talked about.
[18:24] » Just anybody else can jump in.
[18:30] Uh,
[18:36] » yeah, that's uh
>> age 77, I think, is what you're looking
[18:40] for.
>> I'm on 74. Okay. 7078.
[18:54] Okay. [sighs]
So, I'll make the motion we publish in
[19:00] the newspaper the resolution. And now
I'm freaking lost again
[19:14] » for the
>> Yeah, it's again equipment.
[19:18] Okay. Yeah. Make the motion that we
>> Okay.
[19:21] » Yeah. Matter.
>> That's fine. That's all you That works.
[19:24] » We got it.
>> I'll make that motion. [laughter]
[19:27] » Is there a second?
>> No second.
[19:30] » Great. Second. All
>> right. Any other discussion?
[19:34] » If not, all in favor signify by saying
I.
[19:37] » I.
>> Post. All right. There we go.
[19:41] » There we go. That way they have two
resolutions.
[19:46] » Thanks, Todd. Appreciate you.
>> You can get back on the highway.
[19:50] » Yeah. [laughter]
All right, we are a little past 620, but
[19:54] that's okay. We'll have Nicole swing up.
[20:00] » Well, I want to thank you guys. Um,
whoever made the suggestion last meeting
[20:04] to involve the arts communities. I would
have honestly never thought of that and
[20:10] they were both so receptive and it's
just a it offers like the opportunity to
[20:16] involve people of all ages and kind of
open it up for broader education too and
[20:22] make it look like a space that actually
is cared about maybe that psycholog
[20:32] I updated on the progress of that will
take about a
[20:37] just due to everybody finding the the
time kind of starting after summer and
[20:43] then um with approvals and also
fundraising um for that depending on
[20:49] what whoever the group is decides that
they would like to do. Um so in the
[20:55] meanwhile I would love it uh if I could
reopen the initial request just for a
[21:01] couple basic wildlife signs and then um
I've secured for that and
[21:09] after the first meeting I had talked to
John Oz and it sounds like he's
[21:14] supportive of helping get whatever sign
[21:23] » and to clarify you one on the west end
and one on the east end of the Dyke road
[21:28] is that correct
>> yeah um kind of by Carter's field that
[21:33] they have there would be there and then
ideally kind of right that incline
[21:40] » top of the hill there.
>> Yeah.
[21:41] » Yeah. There's a couple of posts in
either end. So just be adding it to
[21:45] existing post
>> is what
[21:48] » John had said.
>> Okay. Is there any thoughts or other
[21:54] questions on it?
>> You talk to John about those speed
[21:58] bumps. I mean is he able to do
>> Oh.
[22:01] » So I I had a conversation with John. We
do not recommend the speed bumps. One,
[22:06] it makes it difficult for snow removal
purposes and because that road floods
[22:10] all the time and it's part of the our
flooding byway channel there. Um, not
[22:15] ideal. So, um, the recommendation from
staff would be to try other avenues
[22:19] before speed bumps.
[22:24] » That road is 30 miles an hour, correct?
>> Yep.
[22:31] I mean, if John's got some sign
capabilities, I'll make the motion. Then
[22:35] if she's got the final,
>> we were okay with the signage. There's a
[22:38] couple exist.
>> She's got the financial for the other
[22:40] signage. I I'll make a motion that we at
least put up the signs for now and then
[22:45] look into
uh different avenues instead of if we're
[22:51] not recommending the speed bumps.
You know, I mean, our major concern was
[22:57] is
shooting people shooting the signs up is
[23:01] our only concern is just throwing the
money out. But right there, I would
[23:05] think it's close enough to town where if
they're going to shoot, they're going to
[23:10] shoot. But at least it's somewhat close
to town. Might defer it a little bit.
[23:14] » Plus, we got I think two cops living
right down there. So,
[23:18] » well, it would be on post with already
existing signage. So, if they're
[23:21] shooting that sign, they're going to
shoot the other signs, too. Yeah, I'll
[23:24] make a motion to move forward on the on
the two city or the speed limit signs
[23:31] » and approving uh
uh putting up the signs that the bank is
[23:38] willing to sponsor. So, okay. Is there a
second to that motion?
[23:43] » I'll second it.
>> Okay. Any other questions or concerns?
[23:49] [snorts]
If not, uh, all in favor signify by
[23:53] saying I. I
>> post. There we go.
[23:58] » Thank you guys.
>> Cross your fingers.
[24:00] » Keep you posted.
>> I'll let you know when we order this.
[24:04] » Oh, perfect.
And then
[24:06] » sounds good.
[24:11] » Sure.
>> Unfolds.
[24:12] » Sure.
>> Sounds good.
[24:14] » I appreciate you guys. Thank you.
>> I hope it helps.
[24:17] » Thank you.
>> All right. We will continue on with the
[24:21] state competitive funding contract.
>> So this is uh tied with the substation
[24:25] project. Um again the state matched our
federal well contributed as a match uh
[24:32] to the federal EDA grant we received.
That was that 979,963.
[24:37] Um so closed as a state contract for
that funding. Um they also match the
[24:44] timeline in 2029 um as per the federal
contract of when the project needs to be
[24:49] completed. Um the state will not pay any
funding until the federal funding is
[24:54] paid out. And again we need the contract
in place for the install portion uh
[24:59] before the federal funding will pay. And
um luckily we didn't do the installation
[25:06] contract yet because otherwise we
wouldn't have gotten the state funding.
[25:10] So, it's been a very complex um process,
but it all aligned perfectly. Um so, at
[25:17] this time, looking for approval of that
contract with the state.
[25:22] » I might have missed it. What uh contract
was this for? What
[25:25] » this is for?
>> Yep. So, the substation project. Yep. So
[25:29] this was the state match the 979
963 that they were willing to match
[25:35] because we got the federal EDA grant
>> because they had this funding set aside
[25:39] for IIJ JA funding with the feds but
since people weren't getting that
[25:44] funding the shift the state shifted and
opened it up towards other grants. So I
[25:50] pitched and advocated for the federal
EDA and they were open to it. So they
[25:53] added that to the list. So now we were
able to get this as a state matched to
[25:59] federal grant funding that we received.
>> Okay.
[26:03] So that's good. So we need a motion for
that.
[26:06] » Just approve the contract.
>> Yeah.
[26:07] » Okay.
[clears throat]
[26:10] » So
>> Okay. Can we get a second? Second. All
[26:15] right. All in favor signify by saying I.
>> I. Post.
[26:20] There we go. Call for bids on the
substation equipment installation. So
[26:24] because we now have the contract um the
979,000 to add even more again details
[26:31] that is the state portion is matching
the installation costs because again we
[26:37] already ordered the transformer and
switch gear. So we can't we can't get
[26:41] grant reimbursement for something that
we've already done. So now since this is
[26:46] approved, we're allocating the 979
because that was the estimate that was
[26:50] in the federal application for the
installation portion. So by now having
[26:55] this contract signed, I did get
permission from the state even though
[26:58] they haven't signed it yet because I
asked, you know, can I still bring this
[27:01] to council? Can we get this all done
even though you guys haven't signed it
[27:04] yet? They said we just can't accept any
bids until they sign the contract. So
[27:10] note that. So um with that, yes. Now the
next step would be to call uh for bids
[27:16] for the installation portion.
>> Okay,
[27:21] » I'll make that motion.
>> Okay, is there a second?
[27:26] » Second.
>> Any uh discussion on that? If not, all
[27:32] in favor signify by saying
>> I post.
[27:36] All right, next up 6B2, computer
replacements. So, this is a budgeted
[27:43] item. Um, every so many years we do need
to upgrade our computers. Um, they're
[27:48] pretty aged and they're nine years old
now. Hard to hard to think. Yep.
[27:52] » Um, so between what we budgeted for last
year and this year's budget, there was
[27:56] funding put in there um not only for the
council tablets that we did, but also to
[28:01] upgrade all of the uh computers. Um,
they're they're get again getting
[28:06] outdated. Um, per tradition, we've
typically gone with Dell. We have a Dell
[28:11] server. We went through and upgraded all
of our server stuff too. Um so the
[28:15] recommendation continues to go with
Dell. Uh the quote and close is not just
[28:19] for city hall but all departments. Um so
looking at a little over 30,000
[28:24] just looking for approval to move
forward and order them and then uh Sean
[28:29] will assist various staff and swapping
out their computers. Is that the desktop
[28:36] and monitor?
>> And keyboards and
[28:41] » mice. Yeah,
>> like I say, I saw the keyboard and mice.
[28:43] I didn't see any monitors, so I didn't
know if that
[28:45] » Yep. Monitors in there. 24 inch. Um,
some staff have dual monitors, some
[28:50] don't.
>> Sounds good.
[28:54] » Need a motion to move forward on that.
>> Yes.
[28:56] » Okay,
I'll make that motion, too.
[29:01] » All right. Is there a second?
>> Second.
[29:05] » Any questions for Crystal on the
computers?
[29:09] If not, is there
motion to move? Sorry.
[29:16] » All in favor signify by saying I.
>> I.
[29:19] » I. Oppos. All right. There we go.
Struggling. All right. Public asset
[29:25] access coordinator contract. This is
just to continue our contract with uh
[29:31] Dylan. He's very uh kind and continuing
to help with us uh with our channel 8
[29:37] services and reporting of meetings. Um
no changes from the contract, just a
[29:43] renewal.
>> I'll make that motion to renew his
[29:45] contract.
>> Okay. Is there a second?
[29:48] » Second.
>> All in favor signify by saying I.
[29:53] » I post.
There we go. Anything else to come
[29:59] before council this evening?
>> Motion to adjurnn.
[30:04] » Sounds good.
[31:12] » [music]
[32:04] » Bing.