02/21/2017 - Work Study - MinutesCity of Port Orchard
Council Meeting Minutes
Work Study Session Meeting of February 21, 2017
CALL TO ORDER AND ROLL CALL
Mayor Robert Putaansuu called the meeting to order at 7:00 p.m.
Roll call was taken by the City Clerk as follows:
Councilmember Chang Present
Councilmember Clauson Present
Councilmember Cucciardi Present
Councilmember Ashby Present
Councilmember Lucarelli Present
Councilmember Diener Present
Councilmember Donlin Present
Mayor Putaansuu Present
Staff present: City Clerk Rinearson, Public Works Director Dorsey, Treasurer Martin, Office Assistant
II Whisenant, and City Attorney Cates were also present.
Pledge of Allegiance
Mayor Putaansuu led the audience and Council in the Pledge of Allegiance.
1. Presentation: Limited Tax General Obligation Bonds 2017 Tremont Widening Project
Treasurer Martin introduced the presenters from D.A. Davidson Capital Markets, Dave Trageser and
Alice Ostdiek, who are presenting the topic.
Presenter Trageser explained details of what the City is looking at for a bond on the 2017 Tremont
Widening Project, reviewing in detail:
• Tentative Schedule of Events;
• Bond Buyer Rates, stating the difference in lending rates versus ratings;
• Sources and uses of funds;
• Bond Pricing; and
• Debt Service.
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Presenter Ostdiek overviewed municipal borrowing and its process, reviewing in detail:
• Long term financing;
• Tax exempt bonds;
• Sources of repayments;
• Participants in financing;
• Expectations of Bond Counsel; and
• Process Overview.
Presenters, Mayor, Councilmembers, and staff discussed; bond amount based on bid, Code City
versus Second Class City, debt services to be identified, and logical timeframes for all involved.
The cash flow requirements were discussed, stating that this project has been factored into the
budget within the supplemental portion and where the money would come from.
Public Works Director Dorsey explained the cost management and foreshadowing of the project.
Councilmembers and Staff discussed cost cuts made to minimize overall project cost.
Council Direction: No direction was given.
2. Discussion: Energy Audit
Mayor Putaansuu introduced the discussion on the Energy Audit topic and the main factors that need
attention at this time, while being cost effective and inclusive to the budget; leaking roof, inefficient
windows and siding, HVAC system, weatherization of doors, recirculation system for hot water,
additional insulation, adding solar, and led light fixtures.
Mayor, Councilmembers, and staff discussed the cash flow, possible grant funding, budget
allocations, and the temperature variations throughout the building.
Council Direction: No direction was given.
3. Discussion: Code City
Mayor introduced the discussion topic with stating that the transition to move forward to a Code
City is not as large of an undertaking as originally thought.
City Attorney Cates discussed the topic on differences between Code City and Second Class City;
Annexation Petitions for Election Method, Initiative and Referendum, and LID Assessment Collection
Deferral.
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Councilmembers, Mayor, and staff discussed; details of the differences, the efficiencies with the
changes, the impacts to current policies and code, voter impacts, timeline for implementation, and
the process to become a Code City.
Council Direction: Public Hearing is set to be held at the February 23th City Council Meeting; then
depending on testimony it may be brought forward for consideration at the March 23th City Council
Meeting.
4. Discussion: Fee Resolution
Mayor Putaansuu explained that last year's adoption of the Property Tax Abatement Ordinance is
requiring a fee and application be created, and those are going to be presented at next week's
Council meeting.
Public Works Director Dorsey stated that this is a current revision of what is in place, but they will be
evaluating the fee schedule and presenting an amendment to the fee schedule in the future.
Council Direction: No direction given.
ADJOURNM ENT
The meeting adjourned at 3:37 p.m. No other action was taken. Audio/Visual was successful.
~. -~---t:::~n, CMC, City Clerk Robert Putaansuu, Mayor