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We'll call this meeting at the Common Council of the Town of Pace of the Order. It is 530 on October the 8th, 2009, almost stubble, stumbled on October and somebody today that it was in a meeting with said October.

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I'm still having trouble with 2009. I was funny and then an elderly gentleman said 2000. I'm still writing one nine before I recognize.

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We welcome you here. We'll begin this meeting this evening with an

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invocation. We've asked the Reverend Dr. Kenneth Lens from the Mount

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Cross Lutheran Church to offer that invocation following the

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invocation. We'll lead us in a pledge of allegiance. Let us pray.

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Gracious Lord, we thank you for the many gifts you have given to your

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people. We thank you for the gift of the beautiful creation which we find

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ourselves and ask that your spirit may so inspire us to take care and to be good stewards

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of that which has been wonderfully entrusted into our care.

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We thank you for the gift of family, thank you for the gift of community.

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We thank you for this group here this evening for the council of peace and thank you for those

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who have been willing to give of their time and their talents and their gifts in order

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to serve the people of their community.

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And we ask that your spirit may also abide with them

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as they seek to do those things,

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which are pleasing your side, reaching out

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to touch others with the power of the unconditional love

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you have given to them as they seek to be faithful stewards

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of those responsibilities and trusted to their care

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and as they seek to be servants of the people

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striving for justice and for equality and for fairness.

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For all these things and much more, we petition your throne if mercy and him of our Lord, who is Jesus the Christ of man.

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Please join me in the pledge of allegiance.

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I pledge allegiance to the flag of the United States of America and to the Republic for which it stands.

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One nation under God, indivisible with liberty and justice for all.

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Thank you, Dr. Lansson. Thank you, Ed.

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You call the roll?

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That's the record show that all council members are present.

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Thank you. First item on the agenda item A is probably a comment period.

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I have no forms that have been filled out.

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We have any members of the public that would like to address the council in open form.

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Seeing none, we'll move on to the consent agenda, what's your pleasure council members?

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I'm over the consent agenda. Thank you.

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I have a motion by A to seconded by Sue Discussion.

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Those were in favor of signify by saying I.

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I was a motion carried.

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Item C.

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I have re-presentation of current events by the town manager.

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I thought Deborah would panic when she looked across and saw the camera and was not there today.

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But Deborah.

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Actually, I did.

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I just want quick announcement candidate packets are available to be picked up.

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And now I'm going to turn it over to the run.

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I don't have nearly as much stuff as Cameron, but we do want to announce that on Saturday,

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October 17, the town is teaming up with the Arizona Department of Environmental Quality

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for an electronic recycling project.

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It will be at the Advanced Center from 9 to 1, and it's where you can bring computers.

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Any type of electronic equipment that you got at your house, that normally you would send

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a landfill, they are collecting them out there, and then 80 EQ will dispose of them.

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And then time again please, Wes.

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Brown, nine until one.

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Then into one.

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Thank you so much.

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I believe so, yes, anything electronic,

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even microwaves and stuff like that.

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Some be very helpful and see we don't have the press here, but we probably have to issue

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some kind of press release.

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And I've had two communications from Alantil that they're getting those people or sneak

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him into their other stuff and dumping them out there and that really is an environmental

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hazard.

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Yeah, that's the problem for them.

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So this will be a good opportunity for people to get rid of that stuff.

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The other thing is we got the first group of proposals in on the Craig and Waterline last

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week.

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They were on the raw water section, which will go from Washington Part to the Freedom Plant.

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We received 15 proposals, all from reputable firms.

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We're finishing up the review on that checking references, and then hopefully our next meeting,

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we will be asking the Council to authorize us to negotiate with the number one ranked firm in order to get a contract going.

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That's all I've done.

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Yet.

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Maybe done.

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Angler wanted to mention this, but a friend of mine told me was very important to mention the low-cost

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rabies vaccination clinic for animals is rescheduled for October 24th.

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So, that's one week after the events center.

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Is that correct?

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That's correct.

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Yes, it was a scheduling conflict, and they had to make that adjustment.

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But, I have one more thing that I would like to do, John's always invites the town to

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food at the Presbyterian Church, and now tonight I have the honor to invite you to have

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Sunday brunch with 50 Mount Cross Luther members at the Rim Club on Sunday October 18th,

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because 25 tax deductible dollars per person, reserve it our Mount Cross Church office across

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I'd like to remind people that on the 17th of October, which is the Saturday, those of you who like to read,

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room country literacy is having their 10th annual use book sale in the Walmart parking lot

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on Highway 87. It'll be from 7 until 2. We have murders, mysteries mayhem to do children's

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books and how to books. Very reasonable, very cheap. We take most any price from a nickel

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up and we have over three small truckloads full of books and that's a lot of books so please come

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one and come all. Thank you. Thank you, sir. As long as you're promoting fundraising events,

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the friends of council basin and the friends of peace and parks and recreation are two people

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that are helping dispenser a golf tournament out of chapter L finds country club and there are some

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applications for joining up all right out in the table out in the hallway there and for only

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$250 you can have a round of golf out there and a nice meal afterwards and of that amount

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$150 of it will stay right here to help the two friends groups.

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You designate which one you want to be helped for both.

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Thank you, John.

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Any further announcements from Council members?

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Okay, we'll move down to Item D, Comments, Commendations and Presentations, and we have any

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from the staff.

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Thank you.

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And we will, about from the council.

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It's not, we'll move to Item D2 Proclamation, Sue.

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Why don't you before you read it, you want to take just a minute, you haven't had any notice

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of this, but would you like this to take a minute and explain it to Genesis, how we got

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where we are within?

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Yes.

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The Arizona League of Cities in towns of which we are a member and many of us attend their annual

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festivities and learning sessions and classes has deemed the week of August 19 through the 23rd

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as appreciation week to all of the towns within Arizona and also to the Staves, Staves,

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The multiple staves, which run all of the towns

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and do such an excellent job.

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And we often forget to say thank you to the people

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who work so hard and diligently throughout each town

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and make everything hum together and put up with the folks

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on the council.

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So it was deemed feasible that we would all have the same week

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as Arizona cities and towns week.

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And in light of that, we have a proclamation for all of the wonderful people in Paisons town and in their staff.

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Whereas the city citizens of Paisons rely on local government to experience a high quality of life in our community.

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And we have a representative. Thank you.

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wounded warrior at that. And whereas local governments around the state of Arizona work 24 hours a day,

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seven days a week to deliver town services such as fire, police, and emergency medical services

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to create safe communities, and whereas the methods of funding these vital town services

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are not always clearly understood by our citizens.

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And whereas it is one of the responsibilities of the town officials

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to ensure that legislature media.

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And citizens understand their local government through open and frequent communication using various avenues and means.

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And whereas it is important to work to encourage this connection and inform citizens and state-led legislators of the importance of state shared revenues in order to preserve the excellent delivery of services

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that our citizens have come to expect in our town and

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where as through education and awareness, citizens,

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community leaders, and town staff can all work together to ensure that services provided by the

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town of Pason can remain exceptional elements of the quality of life in our community.

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Now, therefore, be it resolved that the town of Pace and joins with the League of Arizona

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cities and towns and fellow municipalities across Arizona in declaring October 19 through

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23rd, 2009 as Arizona cities and townsweep. In witness thereof, on the great seal of

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The town of Pace the Arizona is to be a fix this eighth day of October 2009 by Kenny Jay Evans

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there.

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When they need to.

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Let me say something for her then.

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We are thrilled to have her here to represent the staff.

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We have a tremendous staff here in the town of Pace and many of you know we've gone through

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some of the most difficult economic times that any of us have.

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that most of us have experienced in our lifetimes, our staff has taken on extra responsibilities,

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they have worked long hours often with no extra compensation often times.

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They have truly stood up to the bar in these times of needs for this town and I hope they understand

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and know that we really do appreciate what they do and we do acknowledge it so

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It is not just a precursority thing but it is with real feeling on the part of the council that we recognize our staff including those who sit up here in management positions for the good that they do and I think our cross training is working well with the exception of a little slip there.

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We do appreciate the staff.

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Thank you very much.

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Next I don't be the minutes.

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I think they're all approved under the consent agreement.

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Item F1 is a public hearing.

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As you are aware, the alternative expenditure

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on the patient's so-called home rule

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has to be approved every fourth year across the state of Arizona.

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And so we will open this public hearing at this time.

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Are there any members of the public that would like to address this?

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If not, then I will turn the time over to Cindy.

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Cindy Smith or CFO.

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But Amy Marin Council, Cindy Smith, the Chief Management Officer for the Town of Pason,

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and this public hearing is indicated.

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Senors around the alternative expenditure limitation,

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which is also known as the Home Rule.

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In 1980, Arizona voters approved the tax reform package that placed an expenditure limitation

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on cities and towns. However, at the same time, the legislation allowed local voters

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to approve an exception to the state and post limitation in their city or town. Under

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the state imposed expenditure limitation, a city or town may only spend a certain amount

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funds. And regardless of the town's revenue or individual needs, the budget is limited by the

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state and state imposed ceiling. Under the home rule option, the city or town may determine

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its own expenditures based on the budget. So with voter approval of the option, the town

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will be limited to the expenditure of the estimated available revenues, whether such expenditures

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are less or more than the state imposed limit.

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So why is this issue on the primary election ballot?

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The town of Pace and Motors approved the home relapsion every four years since 1980, and to continue the home relapsion, we must pass.

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It must be passed by the voters every four years.

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So on March 9th, 2010, town voters will be asked whether to continue the authorization for the town of Pace and alternative expenditure.

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Permitation or Home Rule approved by voters in back in May 16th, 2006.

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A Miller City is in town's authorized home rule. Yes, they have.

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Casonous matter, fact was one of the first two Arizona towns to adopt home rule back in 1980.

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I believe the other town was Clarkdale. In 2006, 555 communities, the adopted home rule, and then in 2009,

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In the home room, permanent base adjustments had been voted on and approved in 75 Arizona

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cities and towns.

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What happens if home rule is not continued?

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If home rule is not approved, the town of Pace will operate under the existing state imposed

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expenditure limit.

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Under this limit, the town of Pace may not be able to expand.

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All the revenues it collects provide the services.

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Those services such as police, fire, water, and examples of those revenues or sales tax,

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state sales tax, state-sharing contracts, all revenues are considered.

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Back in January 2006,

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when the home world was presented for approval, this was the summary

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analysis that was presented, and these were estimates.

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So in 2006 they estimated for 2007, 2008, 2009 and 2010.

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You see the town estimates, that was the budget estimates, and then at the time what the state imposed estimate would have been.

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So if homework was not approved, we're limited right here with these amounts for budget.

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So, this kind of, this graph will show you, based on those estimates, these amounts here were the estimated budgets.

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This was the state of post limit and then this was your actual adopted budget.

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So, you can see the difference between your budget and what the estimate, or excuse me, what the state expenditure limitation was for each of those years.

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This is the current year right here. Fiscal year 9 fiscal year 2019. You can see that the

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town estimate back in 2006 was a budget of 24 million. The state limitation was 17.4 million

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and our current budget sits at 57.7. So one thing I want to make clear is if in 2006

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voters had not approved this, our limit on our budget would have been 17 million. Even

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No, we estimate bringing in 57 million.

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This is the estimated state and post-limitation

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for next fiscal year, 2010, 2011.

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And the state limitation is based on population.

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And this population is 2009.

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They take a population if they divide the 2009 population

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by the 1978 population, which was 4,355.

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And that gives the state a population factor.

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They apply that to the 1980 Basel imitation,

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which was 1.267280, to give a estimate of $5 million.

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And then they adjust that estimate by the percent change

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in gross domestic product price to flatter,

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which currently is 2.77.

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So under the state expenditure limitation,

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and we would be looking at a $14 million budget for 2011.

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Does this approve or does he approve a home rule

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and give the city authority to impose new taxes?

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No.

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Approval to continue will only allow the town to spend the revenue

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that it collects is approved in the annual budget.

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And home rule does not change the property tax

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or the sales tax that the town currently collects.

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If home rule is continued,

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what will it mean for town residents?

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Well, with home rule, the town residents

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and the mayor and council will continue to decide what level of service is best for

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patient.

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00:19:15,660 --> 00:19:20,840
Homeworld allows the town to expand all the revenues it receives to provide services to residents.

230
00:19:21,780 --> 00:19:26,260
Each year the town will set the expenditure limit after citizen input through the budget

231
00:19:26,260 --> 00:19:27,720
and public hearing process.

232
00:19:28,660 --> 00:19:32,400
And then because the town is required to have a balance budget those expenditures will be restricted

233
00:19:32,400 --> 00:19:33,660
by available revenues.

234
00:19:36,080 --> 00:19:37,020
Any questions?

235
00:19:39,380 --> 00:19:44,080
difference between a GDP price deflator and the CPI.

236
00:19:48,830 --> 00:19:49,950
The state testament?

237
00:19:51,350 --> 00:19:52,290
I'm not sure.

238
00:19:54,900 --> 00:19:59,980
I just know that this price deflator is the...

239
00:20:00,000 --> 00:20:06,220
The estimate that comes from the state, it's part of their evaluation in the setting of limitation.

240
00:20:07,540 --> 00:20:15,680
Because the compound CPI from 1980 to now would be greater than that 2.77 percent, which I was wondering how we calculated that.

241
00:20:16,660 --> 00:20:26,760
Secondly, in the event, it's pretty draconian. The way you've got it on the chart there, I'm going back to the drop in our ability to spend.

242
00:20:26,760 --> 00:20:40,740
But as a practical matter, since it doesn't affect the ability to generate revenue, if we generated revenue hard, the limit would be much of that revenue is targeted for specific projects.

243
00:20:41,780 --> 00:20:50,660
And if we, for instance, the CC Craig and Project, we generate $10 million, we have to spend that $10 million on the project.

244
00:20:50,660 --> 00:20:52,020
we can just put it in a pocket.

245
00:20:52,720 --> 00:20:55,840
Suddenly, we only have 4 million left to spend

246
00:20:55,840 --> 00:20:58,340
in all the rest of the council's functions.

247
00:20:58,680 --> 00:20:59,360
That is correct.

248
00:20:59,480 --> 00:21:02,320
Our limitation would sit at that $14 million.

249
00:21:03,640 --> 00:21:05,860
So if we're going to allocate 10 million to that project,

250
00:21:08,020 --> 00:21:10,600
then it wouldn't matter if we brought in $60 million.

251
00:21:11,140 --> 00:21:14,640
Our limit would be 14 in how the town of Pace

252
00:21:14,640 --> 00:21:16,440
now equates that.

253
00:21:16,460 --> 00:21:19,660
Those expenditures is not restricted,

254
00:21:19,660 --> 00:21:21,820
but we are restricted at that limitation.

255
00:21:23,660 --> 00:21:24,620
Thank you.

256
00:21:25,100 --> 00:21:36,040
I might say also that they really haven't talked much about the RF funding, the recovery, or the stimulus dollars.

257
00:21:36,980 --> 00:21:45,820
And that's going to have a big effect on state budgets, but they didn't have any specific guidelines on the stimulus dollars.

258
00:21:45,900 --> 00:21:47,620
It might come into a budget consideration.

259
00:21:48,680 --> 00:21:53,100
My concern, obviously, is that you've got $10,000 out of $14,000,000, and we will be well

260
00:21:53,100 --> 00:21:55,360
into the year before the voter curves in March.

261
00:21:56,240 --> 00:22:04,460
We would basically have to shut the town down completely, fire, please, down hall, because

262
00:22:04,460 --> 00:22:06,080
we would be over budget by March.

263
00:22:06,700 --> 00:22:08,040
We would definitely have to do that.

264
00:22:08,040 --> 00:22:14,420
This is a state statute that we're dealing with, and of course, era funding was not part

265
00:22:14,420 --> 00:22:16,180
when that statute was created.

266
00:22:17,740 --> 00:22:21,580
I would think that if we were stuck at the 14 million

267
00:22:21,580 --> 00:22:27,140
and the air of money did come in, it would probably be an issue

268
00:22:27,140 --> 00:22:28,760
that would have to go back to the state

269
00:22:28,760 --> 00:22:31,480
to see if they wanted to modify the statutes to say

270
00:22:31,480 --> 00:22:34,660
because there's air of funding out there and some people have it.

271
00:22:36,360 --> 00:22:38,080
But I don't, I don't need, they would do it.

272
00:22:38,420 --> 00:22:40,940
I think the problem with doing that is that it's a voter.

273
00:22:41,300 --> 00:22:43,060
It was an initiative that was not a referendum,

274
00:22:43,060 --> 00:22:44,740
I was wondering what's happening.

275
00:22:44,920 --> 00:22:47,240
I think you'd be able to say you deal with it.

276
00:22:47,480 --> 00:22:49,540
It's 14 million figure out what you're going to do with it.

277
00:22:49,580 --> 00:22:54,200
In which case we would have to severely start cutting things back to meet it.

278
00:22:54,340 --> 00:22:55,600
Long vacation, though.

279
00:23:00,380 --> 00:23:02,100
Yes, add an engine.

280
00:23:03,060 --> 00:23:06,640
I just want to say I appreciate this heads up.

281
00:23:06,780 --> 00:23:08,740
A long time before the vote.

282
00:23:09,120 --> 00:23:13,360
I think in my own case, it caught us little by surprise in 06.

283
00:23:13,360 --> 00:23:21,480
And it was like, oh, that's on the ballot too. Now, this is really shows we simply must vote yes on this.

284
00:23:21,800 --> 00:23:33,020
Otherwise, it'll be a big strategy ever in this town. So I appreciate this heads up and the detailed things and most people won't know a deflator from an inflator.

285
00:23:33,780 --> 00:23:41,280
But they will know the difference between yes and no, and we vote or simply must vote yes to keep our town running. Thank you.

286
00:23:42,970 --> 00:23:50,190
John, four years ago, when we did this, I made a analysis of the Tom budget.

287
00:23:50,950 --> 00:23:56,750
So what was the central services that is required to be provided, what were not essential,

288
00:23:57,590 --> 00:24:04,610
and then went around, made myself available to any organization that wanted to have an explanation

289
00:24:04,610 --> 00:24:05,950
of how this worked.

290
00:24:06,330 --> 00:24:11,510
I'm not going to do that analysis again, but I will be willing to go to any organization

291
00:24:11,510 --> 00:24:19,190
that wants to have this explain to them. I'm glad to go and talk to them and tell them what

292
00:24:20,090 --> 00:24:29,230
the options are and why it's an overranger as to the yes option. Thank you Sue. I too am

293
00:24:29,230 --> 00:24:37,410
very supportive of this several people have said well if they vote yes it just opens up the

294
00:24:37,410 --> 00:24:44,710
to unlimited spending and and that's far far from the truth. The town cannot spend more

295
00:24:44,710 --> 00:24:52,190
dollars than it has. That's it. Pre-arrient and home rule doesn't allow us to have

296
00:24:52,190 --> 00:24:58,750
free spending without any checks and balances. It does provide flexibility and

297
00:24:58,750 --> 00:24:59,970
manageability to meet.

298
00:25:00,000 --> 00:25:18,780
Take the budget that the citizens and the town staff have worked so diligently to put together to meet the needs of our citizens and to continue to improve our quality of life here by providing the diversity of town programs.

299
00:25:18,780 --> 00:25:28,460
If we were to vote no, $40 million as everyone agrees would mean more cuts, more loss of

300
00:25:28,460 --> 00:25:35,400
jobs to our town, loss of jobs and services like parks, our beautiful parks and what

301
00:25:35,400 --> 00:25:37,680
goes on and possibly the library.

302
00:25:38,800 --> 00:25:46,900
So we are suffering very tough economic times and my concern is I hope everyone who doesn't

303
00:25:46,900 --> 00:25:53,060
understand that we'll ask and hopefully the press will help us put it out there very clearly

304
00:25:53,060 --> 00:25:59,520
and distinctly like Cindy has so that we can all be aware of the decision we're making

305
00:25:59,520 --> 00:26:05,560
because yes, in my mind, is the only answer to this question. Thank you. Thank you, John.

306
00:26:06,160 --> 00:26:12,240
Just a little clarification. Based on my recollection of how I did the analysis four years ago

307
00:26:12,240 --> 00:26:21,260
With this limitation, we would not even be able to fund essential services that are mandated by the state that we have to do.

308
00:26:21,700 --> 00:26:24,680
So we would even have to stop the police and fire departments.

309
00:26:25,440 --> 00:26:27,740
It would be that to account their Conean.

310
00:26:29,680 --> 00:26:30,240
Thank you.

311
00:26:30,700 --> 00:26:35,880
And to the point that Sue raised this doesn't in yet as well.

312
00:26:36,120 --> 00:26:39,440
This doesn't lift all limitations.

313
00:26:39,440 --> 00:26:45,880
We have a whole complicated series of revenue limitations as well that have been passed through the years.

314
00:26:46,180 --> 00:26:50,860
Many of you remember the process we went through with the secondary property tax rate last year.

315
00:26:51,980 --> 00:26:58,160
In the final analysis, we spent a meeting and a half arguing about $70,000.

316
00:27:00,080 --> 00:27:08,660
So there are some pretty restrictive limits placed on revenue, which then ties to the amount that we have.

317
00:27:08,660 --> 00:27:10,780
that we can't exceed in terms of expenditure.

318
00:27:12,180 --> 00:27:14,820
So the expenditure limitation was created,

319
00:27:14,820 --> 00:27:16,140
I think, in a different era.

320
00:27:16,860 --> 00:27:20,500
I was created at a different time, certainly in the history

321
00:27:20,500 --> 00:27:23,480
of the state spending, and was not intended.

322
00:27:23,740 --> 00:27:25,520
I don't believe when it was passed by the voters

323
00:27:25,520 --> 00:27:29,420
to be one where you can, in reality, end up with a budget

324
00:27:29,420 --> 00:27:31,680
with 30 or 40 million dollars in it,

325
00:27:32,000 --> 00:27:34,680
and the ability to only spend half of that.

326
00:27:34,680 --> 00:27:39,960
I think also, people should keep in mind that our budget is sent to the state.

327
00:27:40,700 --> 00:27:44,900
They know what the budget is at the council adoptive and we are held to that budget.

328
00:27:46,280 --> 00:27:50,500
In 1980, I wasn't here, I'm not sure if budgets were sent to the state at that time.

329
00:27:50,560 --> 00:27:56,820
This may have been their way of trying to keep track of our keeps ending, you know, at a certain limit force that isn't.

330
00:27:56,960 --> 00:27:58,060
Well, I think...

331
00:27:58,060 --> 00:27:58,940
I think it's a doubt it is.

332
00:27:59,060 --> 00:28:01,340
I think there were several things going on at that time.

333
00:28:01,340 --> 00:28:05,720
If you remember, we were looking at two percent of them on the interest rates and inflation running

334
00:28:05,720 --> 00:28:11,940
at 20 percent a year or so, I think it was a whole different set of concerns that the

335
00:28:11,940 --> 00:28:16,660
public was dealing with, and this was their reaction to that.

336
00:28:16,880 --> 00:28:25,080
Anything further on the public hearing, any additional questions for, or either Sandy or

337
00:28:25,080 --> 00:28:29,120
Sandy or for the staff, not then we will close this public hearing?

338
00:28:29,180 --> 00:28:29,600
Thank you.

339
00:28:29,600 --> 00:28:30,800
Item

340
00:28:33,580 --> 00:28:44,100
G2, discussion resolution 2518 regarding the sale of bonds, general obligation bonds.

341
00:28:45,320 --> 00:28:46,300
What's your pleasure, Council?

342
00:28:47,600 --> 00:28:48,380
Move approval.

343
00:28:48,740 --> 00:28:48,960
Second.

344
00:28:49,740 --> 00:28:56,840
I have a motion by John Wilson a second by Mike Vogel to support the resolution, discussion

345
00:28:56,840 --> 00:28:57,760
on that motion,

346
00:29:00,900 --> 00:29:01,820
probably up

347
00:29:04,450 --> 00:29:05,070
on good.

348
00:29:05,470 --> 00:29:07,390
Those in favor signify by saying aye.

349
00:29:07,390 --> 00:29:18,370
This is the 1.525 million of that was voted on by the voters in 2003 to build our

350
00:29:18,370 --> 00:29:23,550
for public safety but in particular to focus on building additional infrastructure for the

351
00:29:23,550 --> 00:29:32,170
fire department. Would you like to bring us up to date on the fire station and the location and

352
00:29:32,170 --> 00:29:32,630
land.

353
00:29:33,610 --> 00:29:36,530
They closed our last property last Thursday, right?

354
00:29:37,530 --> 00:29:39,370
The one day last week, I don't, I haven't been thirsty.

355
00:29:39,750 --> 00:29:40,290
I signed it.

356
00:29:40,510 --> 00:29:43,410
And the floor plans are fairly well done.

357
00:29:43,670 --> 00:29:47,510
The exterior sections might have been drawn up.

358
00:29:47,810 --> 00:29:47,850
Right.

359
00:29:47,850 --> 00:29:49,430
And the specs are in the process.

360
00:29:49,770 --> 00:29:56,750
So probably in November, the first of December, we should get the plans to start going

361
00:29:56,750 --> 00:29:59,150
to the review on them before they go to bed.

362
00:29:59,790 --> 00:29:59,970
The most.

363
00:30:00,000 --> 00:30:08,900
Moving along, I guess it didn't grow from the rarer going out to lay out of the side of you, at least that's what I've told just now.

364
00:30:09,880 --> 00:30:10,400
So it's moving.

365
00:30:13,000 --> 00:30:22,560
We take a little with the council's unanimous consent. I would like to take a little literary license and maybe ask our balance counsel to give us an update on where...

366
00:30:22,560 --> 00:30:25,800
I was going to say grants already sold everything, so we're all sad, but yeah.

367
00:30:29,140 --> 00:30:33,520
Any objection to any some time to them? Okay. Grant would you like to come forward in?

368
00:30:40,970 --> 00:30:45,050
Mr. Mayor, members of the council, the pleasure is always to be up here visiting.

369
00:30:46,030 --> 00:30:52,550
The town of Pason, my name is Grant Hamel. I'm a managing director with the investment banking firm of Stone at Youngberg.

370
00:30:52,550 --> 00:31:01,310
and I'm joined this evening for your action on this item this evening by Fred Rosenfeld,

371
00:31:01,470 --> 00:31:06,210
who is your bond council with the firm of Pestrose and Feld in Phoenix,

372
00:31:08,230 --> 00:31:12,390
with your decision to proceed this evening with this fun sale.

373
00:31:12,950 --> 00:31:19,270
What we will do is to continue to work with the town manager and the chief fiscal officer

374
00:31:19,270 --> 00:31:27,750
to prepare for the issuance of these bonds that will require two steps, so one more step

375
00:31:27,750 --> 00:31:34,390
with the Council and what will do this evening with your action tonight is that as part

376
00:31:34,390 --> 00:31:42,670
of that resolution, the Council approved a notice of sale that we will send out to all

377
00:31:42,670 --> 00:31:51,710
prospective bidders on these bonds. And we would look to receive bids for these bonds in November

378
00:31:51,710 --> 00:32:01,310
at your regular meeting on November 19. I would like to add that the towns general obligation

379
00:32:01,310 --> 00:32:10,590
bonds are rated A plus, which is an outstanding credit rating, which should be a lot of attention

380
00:32:10,590 --> 00:32:16,750
with regards to your bonds, but I would also add that in the municipal bond world, a sale

381
00:32:16,750 --> 00:32:24,170
of 1.525 million is relatively small. So I think potentially just because of that reason

382
00:32:24,170 --> 00:32:30,770
and that reason alone, the town may expect to get several bids for the bonds, but it wouldn't

383
00:32:30,770 --> 00:32:36,870
as many as if it was a say of 10, 15 or 20 million dollar financing.

384
00:32:39,070 --> 00:32:44,270
But our firm, no chance it would get it at 2.8% than you telling me.

385
00:32:45,030 --> 00:33:00,670
Well, you know, that depends and one of the things that we're going to work with staff on is just to determine the duration of the financing. Mr. Mayor, we've provided them information on three different scenarios of either a 10 year financing

386
00:33:00,670 --> 00:33:10,510
a 15 or a 20 year financing and I can assure you interest rates have come down pretty significantly this year.

387
00:33:11,850 --> 00:33:22,730
But because these particular bonds don't involve any kind of subsidy or support from the government as part of the ARRA,

388
00:33:22,730 --> 00:33:29,630
which is the American recovery and reinvestment act that Cindy referred to earlier or the stimulus act

389
00:33:29,630 --> 00:33:38,210
that these bonds we sold basically on the outstanding rating of the town itself and at the eight plus rating,

390
00:33:38,730 --> 00:33:46,130
we would expect that a ten-year financing for the town at this point would be in the neighborhood of three and a half percent

391
00:33:46,130 --> 00:33:54,210
is our estimate if the town elected to pay off these bonds over a 15 year period of time we think

392
00:33:54,210 --> 00:34:01,970
the rate might be 3.75% and if you decide to sell the bonds over a longer period of time say 20 years

393
00:34:01,970 --> 00:34:10,190
that interest rate would be approximately 4%. So after it's our received on the bonds mid-November

394
00:34:10,190 --> 00:34:17,090
we would expect that the transaction would close in early December at that time proceeds would be deposited

395
00:34:19,070 --> 00:34:33,490
effectively into the towns bond building fund or project account in the available at that time for construction of the proposed fire station and acquisition of land for that fire station.

396
00:34:34,650 --> 00:34:39,330
So with that, I'd be very happy to respond to any questions that the council may have.

397
00:34:39,330 --> 00:34:40,430
Excuse me, Councillor.

398
00:34:43,720 --> 00:34:44,480
I appreciate that.

399
00:34:50,980 --> 00:34:51,520
No Councillor.

400
00:34:52,120 --> 00:34:54,220
No question for Councillors for a Friday there.

401
00:34:54,460 --> 00:34:54,560
Okay.

402
00:34:55,080 --> 00:34:56,500
Thank you.

403
00:34:57,060 --> 00:34:57,680
Thank you, gentlemen.

404
00:35:01,140 --> 00:35:11,060
The next item would be item H1, a CVR file by Leron Gerard regarding the purchase of the 13 and a half acres sounded to face an airport around.

405
00:35:11,900 --> 00:35:25,400
Mr. Mayor, members of the council, several years ago, the town opted to move forward with a purchase of 13 and a half acres adjacent to the southwest part of the airport for airport expansion and airport uses.

406
00:35:25,400 --> 00:35:32,000
And that property was tied up for roughly 14 years in a land exchange, and then it went

407
00:35:32,000 --> 00:35:35,340
to, in the private hands, and became available for the town to purchase.

408
00:35:36,460 --> 00:35:40,560
About a year ago, we, the town entered into a contract with the owners that property to

409
00:35:40,560 --> 00:35:47,620
purchase it, and moved forward, the purchase of that time was to buy three and a quarter

410
00:35:47,620 --> 00:35:51,800
acres of the 13 and a half, and then an option on the remaining.

411
00:35:53,600 --> 00:35:57,880
During the escrow process, it was discovered that there were some issues with the title that

412
00:35:57,880 --> 00:36:03,220
need to be cleared up before the town could move forward with the purchase and so the escrow

413
00:36:03,220 --> 00:36:04,040
was canceled.

414
00:36:05,340 --> 00:36:09,600
Instead of tying the owners have taken care of those title issues, I would believe it has

415
00:36:09,600 --> 00:36:13,640
a clear title now according to the title company, and the owners have come back to the town

416
00:36:13,640 --> 00:36:16,180
with a request to go ahead and move forward with the purchase.

417
00:36:17,180 --> 00:36:21,840
There are some issues at this time with the purchase from the town standpoint, the fact

418
00:36:21,840 --> 00:36:26,020
that it is not in the current fiscal budget because we didn't know when those issues

419
00:36:26,020 --> 00:36:27,340
were going to be cleared up on the title.

420
00:36:28,280 --> 00:36:33,260
But the earliest that we could get it in the budget would be in the 10-11 fiscal year.

421
00:36:34,600 --> 00:36:40,940
The other thing is we're looking at funding this purchase with an FAA grant, which will be

422
00:36:40,940 --> 00:36:49,820
5% of the cost of the property. The current FAA grant cycle, which starts at the first

423
00:36:49,820 --> 00:36:55,100
of this month, does not include the purchase of this property. They have a couple other

424
00:36:55,100 --> 00:37:01,820
projects, over $700,000 that they're paying to award the town. But they can't award

425
00:37:01,820 --> 00:37:06,620
us the grant to purchase this property until the environmental assessment is complete, which

426
00:37:06,620 --> 00:37:12,220
is also being paid for by the FAA grant, another FAA grant, and is in process right now and

427
00:37:12,220 --> 00:37:14,000
we hope to have completed by the end of the year.

428
00:37:15,660 --> 00:37:22,900
So that would make it eligible to be in the 2010-2011 fiscal year for the grants, which would

429
00:37:22,900 --> 00:37:26,200
coincide with our fiscal year of next year if we wanted to put in the budget.

430
00:37:27,340 --> 00:37:31,000
However, in today's economy, there was always that risk of the FAA, and did not get the funding

431
00:37:31,000 --> 00:37:35,560
planning on and so we would not be able to get the property at that time they may not be able to

432
00:37:35,560 --> 00:37:40,580
fund the grant. And currently the town doesn't have that equipped reserves to fund it and then

433
00:37:40,580 --> 00:37:47,560
wait until they can reimburses. So I guess the issue at Hampton Ideas, how do we want to

434
00:37:47,560 --> 00:37:54,080
proceed on this property? It is part of the master plan. It's included in the airport layout plan

435
00:37:54,080 --> 00:37:59,920
that has been approved by the council and it's waiting to final approval from the FAA right now.

436
00:38:00,620 --> 00:38:06,820
One reason why the FAA moved Airport Road was so we could purchase this property and include it in the Airport.

437
00:38:07,960 --> 00:38:12,940
So there's a lot of things that are starting to fall into place, it's just matter of the tiny now.

438
00:38:13,700 --> 00:38:23,180
But without having any funding available this year and no reserves, staff recommendation is that we include the purchase of this property in next year's budget.

439
00:38:23,700 --> 00:38:29,100
But that we don't actually move forward until we get the final commitment from FAA to fund the 95% of the project.

440
00:38:31,270 --> 00:38:32,830
Thank you.

441
00:38:33,470 --> 00:38:33,710
Council?

442
00:38:34,070 --> 00:38:35,190
Got he had first.

443
00:38:36,110 --> 00:38:42,110
Based on Lorenz, excellent oral presentation and the printed presentation which is available

444
00:38:42,110 --> 00:38:43,270
on the website.

445
00:38:44,210 --> 00:38:50,270
I move to direct staff to include the purchase of the 13.5 acres adjacent to the face and airport

446
00:38:50,270 --> 00:38:57,770
in the towns 2010, 2011 budget, but to only move forward with the purchase.

447
00:38:57,770 --> 00:39:03,430
Once the FAA has committed to funding their portion of the purchase

448
00:39:03,430 --> 00:39:05,150
Do I have a second?

449
00:39:06,630 --> 00:39:11,610
Mr. Mayor Michael Hughes, if I might add one thing the owner's representative of that property

450
00:39:11,610 --> 00:39:14,390
Mr. Tom Collins is here tonight if you have any questions for him

451
00:39:15,710 --> 00:39:18,850
Did you need did you want to address the issue Tom?

452
00:40:05,620 --> 00:40:26,540
And I think we're, you know, I notice where the world will go with the next few months, but our best estimate is with the commitment to stand me as the stimulus money that there will not be additional second phase money is available within the FAA for additional unscheduled items.

453
00:40:26,540 --> 00:40:32,500
and that coupled with just the nuances of our having get the environmental assessment done before

454
00:40:33,060 --> 00:40:39,000
we can then commit them, you know, it just seems that 2011 is the earliest that we're going to be able

455
00:40:39,000 --> 00:40:39,480
to do that.

456
00:40:54,120 --> 00:40:57,840
Thank you. I should have had you come forward to the microphone. Are you picking up his

457
00:40:57,840 --> 00:40:59,600
voice back there? No.

458
00:41:01,740 --> 00:41:04,600
Yes, would you come forward, give your name and address and

459
00:41:04,600 --> 00:41:07,260
and a reader's digest version of what you just told us.

460
00:41:10,720 --> 00:41:18,380
Tom Collins is my name. I live at 305 East Pine in Paisam. I've been in Paisam since

461
00:41:18,380 --> 00:41:29,360
1983. I had a business here for 25 years and more or less retired about a year ago.

462
00:41:29,680 --> 00:41:34,960
But I've been involved in this land situation for a long time. We went through a lot to

463
00:41:34,960 --> 00:41:42,420
purchases land, my group only owns a part of it, we don't own the whole thing, but I think

464
00:41:42,420 --> 00:41:48,020
some of the nicest property is the property that the town wants. If any of you guys have

465
00:41:48,020 --> 00:41:53,490
been out there to look at it, it's it's really a nice piece of property and it'll be an asset to the town.

466
00:41:55,520 --> 00:42:01,120
Plus we're gonna go into a little property so you can put up a view tower out there or whatever you

467
00:42:01,120 --> 00:42:13,560
to do. And the whole idea behind the purchase of a lot of this property up there is to expand

468
00:42:13,560 --> 00:42:18,340
to paste some little bit, bring some jobs in here and open it up here a little bit because

469
00:42:18,340 --> 00:42:21,260
it's been so closed in by the forest series.

470
00:42:23,980 --> 00:42:26,040
And when we first got involved with this,

471
00:42:26,040 --> 00:42:34,100
I was told many times, you'll never get the trade done, and fortunately we went through

472
00:42:34,100 --> 00:42:40,620
Congress Senate signed by the President, all kinds of stuff to get where we're at today.

473
00:42:44,000 --> 00:42:49,760
But we're at a point where so many people are so frustrated not knowing where we're going

474
00:42:49,760 --> 00:42:57,840
in which way to move we feel that we need a little something to rely on and I think Loran

475
00:42:57,840 --> 00:43:05,890
is kind of explain the situation pretty well and that's all I've got to say really

476
00:43:06,770 --> 00:43:12,770
it I hope I'm up the next guy buried up there on that property we do two more results

477
00:43:14,950 --> 00:43:15,830
Thank you.

478
00:43:15,830 --> 00:43:16,870
Thank you.

479
00:43:19,780 --> 00:43:21,640
Those in any further discussion.

480
00:43:22,260 --> 00:43:24,360
Those in favor of the motion signify by saying aye.

481
00:43:24,840 --> 00:43:26,220
Coz the name motion carried.

482
00:43:26,800 --> 00:43:27,920
I show no further business.

483
00:43:28,180 --> 00:43:29,140
It's like correct.

484
00:43:29,900 --> 00:43:31,380
We have a public comment period.

485
00:43:31,880 --> 00:43:35,500
There are any members of the public that would like to address this at this time.

486
00:43:36,420 --> 00:43:38,800
Seeing none, this meeting stands adjourned.