Feb 05, 2024 City Council Work Session

[1. CALL TO ORDER ]

[00:00:10]

EVERYBODY. WE ARE HERE WITH THE PRESIDENT AND THE CITY HALL CONFERENCE ROOM. THIS MEETING IS BEING CONVENED INTO CLOSED EXECUTIVE SESSION FOR THE PURPOSE OF SAFE AND CONFIDENTIAL LEGAL ADVICE ON ANY HEARING. AND FOR IN PERSON COMMENT OR REGISTRATION , THAT IS AVAILABLE OUTSIDE THE DOOR OF THIS ROOM. DOES ANYONE HAVE ANY NEED TO PROVIDE CITIZEN

[3A. Discussion of Debt Management Strategy Implementation and Ballot Propositions in support of recommendations from the Capital Improvement Program Task Force. (30 minutes) ]

OFF A CITY MANAGER? >> ] IF YOU GUYS GET TIRED OF HEARING MY VOICE, LET ME KNOW.

WE HAVE THREE QUESTIONS WE WANT TO FOCUS ON TONIGHT. GOING BACK AND JUST RE-EMPHASIZING THE GENERAL FUND CAPITAL PURPOSES AND PROVIDE PURPOSE FOR THAT. LOOKING AT THAT MANAGEMENT, WE WILL LOOK AT DIFFERENT WAYS OF HANDLING THAT , AND TAKING A LITTLE DEEPER THERE , THE QUESTION HERE IS WHAT WE CAN ASK THEM FOR. AND THEN, WE WILL GO OVER NEXT STEPS. I WAS JUST CONFIRMING WITH THE FINANCE DIRECTOR. YOU HAVE SEEN THIS KIND OF FINISH IN THE PAST. THE COUNCIL ARE DEVOTED TO APPROVE THOSE . WE DON'T KNOW THE PAYMENT UNTIL THEY ACTUALLY ARRIVE. WE CAN ACTUALLY ISSUE THAT LEASE AFTER SOLICITING BIDS FROM BANKS . EVEN IF IT'S NOT DEFINED BY THE. -- AND THEN, WHEN THE ITEM COMES IN , WE WILL BE PAYING FOR IT INITIALLY WITH CASH , AND THAT WE WANT TO BRING BACK THE DEBT AS A PACKAGE , AND TALK TO YOU LITTLE BIT MORE ABOUT HOW THAT HAPPENS. SO, THAT IS BASICALLY IT. ANY QUESTIONS ABOUT THAT CHAIN? DO YOU HAVE ANY NOTES OR QUESTIONS FOR HOW THIS FITS INTO OUR PORTFOLIO FOR WHEN THE TIME COMES? ANY QUESTIONS ABOUT THE CHANGE IN PROCESS?

>> YOU TALKED ABOUT THIS BEFORE. THE LEASE IS BASICALLY EFFECTIVELY PLUGGED IN . WHAT WE THE DIFFERENCE, IF ANYTHING BETWEEN THE COST IN THE INTEREST BE ON THE DEBT ?

>>

>> NO. I WILL TRY TO ANSWER IT.

>> I WANTED TO BE CLEAR FOR THE PEOPLE.

>> RAY. USUALLY, THE IMPLIED INTEREST RATE ON ALIAS --

[00:05:06]

>> AND THE REASON BEING IS UNDER THE LEASE STRUCTURE AND THE INS RATE , THIS IS PROBABLY MORE PROBABLY, BUT IT IS APPROPRIATION IN THE BUDGET WITH THE SECURITY THE BANK HAS THE ACTUAL EQUIPMENT. WE ARE PLEDGING OUR ACTUAL TAX RATE .

PLEDGING OUR TAX RATE IS MORE SECURE , THEREFORE, WE WOULD BE WILLING TO PAY MORE FOR RETURN ON THAT SECURITY.

>> YEAH. JUST TO UNDERSTAND, HERE, WE ARE TALKING ABOUT FIRE EQUIPMENT. IS THE LIST OF FIRE EQUIPMENT, IS THIS ILLUSTRATIVE OF HOW YOU'RE GOING TO OPERATE THIS? SOURCES SPECIFICALLY WHAT WE ARE TALKING ABOUT ?

>> THIS IS POSSIBLY WHAT WE ARE TALKING ABOUT THIS YEAR. THIS IS THREE PURCHASES, ONE IN WHICH YOU HAVE ALREADY APPROVED, AND WHEN YOU ARE BRINGING FORTH. AUTHORITY PREPARED, THAT IS WHERE YOUR BEHIND FOR THAT PURCHASE. IN A

APPARATUS WILL COME TO YOU . >> WE ARE LOOKING SPECIFICALLY

. >> WHAT IS GOING TO FACTOR INTO THE DECISION IF THIS IS A CERTIFICATE OF OBLIGATION?

>> DEPENDING ON HOW LONG IT GOES , AND THE LOWEST PRICE

FOR. >> OKAY.

>> IF I CAN ADDRESS COUNCILMEMBER SCHUPP'S QUESTIONS TO SOME DEGREE , WITH BEING TRANSPARENT, IS SHOWING YOU WHAT WE ARE TALKING ABOUT FOR FISCAL YEAR 24, THIS IS INTENDED TO BE A PARADIGM SHIFT NOT JUST FOR FISCAL YEAR 2024,

BUT GOING FORWARD. >> YES, SIR.

>> MOST OF US WILL BE APPARATUS, BUT THERE ARE THINGS

THAT WILL BE CONTEMPLATED. >> OKAY.

>> WHAT IS THE FULL AMOUNT OF DEBT AND ISSUANCE?

>> I THINK IT WILL VARY , BUT IT WILL BE 10 MILLION AND UP.

, 5 MILLION, SOMETHING LIKE THAT, WE CAN THROW HER ENTIRE DEBT ISSUANCE . I KNOW EITHER PAST, PRESENT, OR FUTURE , ANNUALLY, WE DO WATER SOLUTIONS . BEFORE A SMALLER AMOUNT , IF YOU DO THE PRIVATE PLACEMENT FOR BANKS, OUR EQUIPMENT NEEDS IS A CAPITAL MARKET SOLUTION.

>> THE PROPOSAL WOULD BE THEN TO PACKAGE THESE , AND WE'LL TALK ABOUT HOW WE ARE MAKING THAT HAPPEN. BUT WE PROBABLY

WANT TO USE THE TOOL RARELY. >> IF I'VE GOT ANY HESITATION ABOUT THIS , I WORRY. BUT, IF WE ARE RESETTING THE PARADIGM , WE HAVE TO LOOK AT HOW THIS IS GOING TO HOLD IT. IF WE ARE ABLE TO ISSUE CEOS FOR $10,000,000.00 , AND MAYBE WERE

NOT UNDERSTANDING THAT. >> IT WOULD BE SOME PACKAGE OF DEBT , AND THE CEOS ARE PART OF IT. SO, THERE ARE OTHER DEBTS

COMING TO YOU. >> WELL, I KEEP HEARING CEOS FOR AMOUNTS OF $10,000,000.00.

>> FOR DEBT ISSUANCE. >> THE CO IS JUST THE

INSTRUMENT. >> WITH SIMPLE FIAT A LITTLE

BIT. >> THEY ARE TALKING ABOUT DWINDLING THE DEBT. RIGHT? THAT CAN BE A COMBINATION MENTIONED, WHICH WOULD BE. SO, WE ARE TALKING ABOUT A PARADIGM

SHIFT, FIRSTLY. >> I SEE WHAT YOU ARE SAYING.

IN CEOS, BECAUSE THAT IS HOW WE ARE ASKING. THAT'S OKAY, THAT IS WHY WE ARE HAVING THIS CONVERSATION , SO WE CAN GET THESE QUESTIONS OUT ON THE TABLE.

[00:10:03]

>> I HAVE A QUESTION. I JUST WANT TO TRY TO FIGURE OUT HOW TO ASK THIS QUESTION. JUST LOOKING AT THE FIRE TRUCK FOR 1.5 MILLION, AND IS NOT ACHIEVABLE , WHAT IS THE GENERAL LIFECYCLE OF A VEHICLE THAT NATURE?

>> ABOUT 10 YEARS. >> ABOUT 10 YEARS?

>> LET ME CORRECT THAT. 10 YEARS FRONT-LINE.

>> OKAY. SO, DOES THAT MAKE SENSE IN TERMS OF SPREADING THAT OUT? IS THAT GOING TO OUTLIVE THE DEBT SET?

>> THAT'S THE WHOLE POINT USING DIFFERENT SETS. THERE'S THE LENGTH OF TERM CONSISTENT .

>> OKAY. IT WOULD BE SPECIFICALLY TAILORED TO THE

LIFECYCLE? >> THAT'S RIGHT. FOR GEOS, YOU HANDLE 30 YEARS , AND YOU HANDLE THEM FOR ANY MAJOR STREET. IN FACT, THE EMS EQUIPMENT, THAT SEVEN YEARS.

>> THAT'S WHERE IS CONFUSED. IF YOU'RE GOING TO HAVE A DEBT CYCLE OF 20 YEARS , THAT DOESN'T MAKE SENSE.

>> NO, 13. >> ON THAT NOTE , IS THERE ANY WISDOM? OR IS ANY PRACTICE? HAVE YOU MADE ANY PURCHASE LIKE THAT WERE SOME OF THAT COMES OUT, AND SOME OF IT GOES TO DEBT? IT'S LIKE, YOU KNOW, WHEN YOU BUY A HOUSE, YOU ARE PAYING FOR DEBT PAYMENT, AND THEN HE FINANCE IT. IS THERE ANY WISDOM TO MIX THOSE THINGS?

>> WE ALREADY ARE. RIGHT NOW, WE ARE BUYING THESE LEASES .

>> I UNDERSTAND THAT. I AM SAYING IF YOU DO SOME, AND YOU ARE PUTTING OUT THERE AND PUTTING THE PAYMENTS OFF ON IMS , IS ANY TYPE OF PRACTICE THAT YOU HAVE SEEN?

>> THAT IS ACTUALLY WHAT WE ARE APPROACHING. IS A TOTAL OF $14,000,000.00 THERE WAS IDENTIFIED THOSE ELIGIBLE AS DEBT FOR SOME KIND. WE ARE LOOKING AT ABOUT 7 1/2. GO

AHEAD. >> WELL, IT FEELS TO ME LIKE YOU'RE ASKING AKIN TO A DOWN PAYMENT.

>> RAY. >> THAT IS WHAT I AM HEARING.

AND I DON'T THINK THAT YOU SEE THAT COMMONLY. RIGHT? HAVE TO UNDERSTAND THAT THERE IS A REASON THAT THE RATING EXISTS.

THERE'S A SINKING FUND THAT EXISTS. IT IS TO BE ABLE TO SECURE TIES OF DEBT. THERE IS NOTHING PREVENTING YOU FROM DOING THAT. RIGHT? SO, JUST ANSWER THAT VERY POINTEDLY.

THERE IS NOTHING STOPPING YOU. BUT WOULD YOU ALSO ASKED, IS IT WISE? IS IT A COMMON PRACTICE NOT IN MISYS PERIODS. I SUSPECT NOT IN YOURS. I DON'T KNOW IF ANYONE WAS TO ADDRESS

THAT, BUT NOT USUALLY, NO. >> WE RESTARTED THIS WAS IN TEXAS. WHICH IS HOW YOUR PROPERTY TAX AUTHORITY IS MARKED. THAT IS UNIQUE TO TEXAS. AND BASED ON THAT, THERE IS A DIFFERENT SET OF RECOMMENDATIONS THAT COME ON THE FINANCIAL SIDE TO MATCH THOSE RESTRICTIONS. IN OTHER STATES, THERE ARE DIFFERENT RESTRICTIONS, AND YOU HAVE TO PAY ATTENTION TO WHAT YOUR AUTHORITY IS LIKE THE BODY FOR HOW YOU MANAGE DEBT, AND CASH, AND YOUR PRODUCTS.

>> MAY ASSESS QUESTION DIFFERENTLY?

>> SURE. >> FOR AN UNDEREDUCATED PRODUCT MANAGER. WHAT ARE THE RISKS? WHAT ARE THE GUARDRAILS? JUST ASKING, BECAUSE I DON'T KNOW. SOME OF THESE THINGS WANT TO BE RESTRUCTURED FOR A GOOD, LONG TIME, AND I JUST WANT TO MAKE SURE WE COVER WHATEVER LOOPHOLES OR ANGLES, OR GET WHATEVER IN HERE THAT IS NOT AS POSSIBLE.

>> WHEN YOU SAY RISK, RISK OF?

>> LET'S SAY WE HAVE A RISK. OUR BILLS ARE WAY OF , OUR J AND I WAS GOING TO BE SHRINKING TO SOME EXTENT. RIGHT? THE ECONOMY TURN DOWNWARD, I DON'T KNOW. BUT IF THE ECONOMY TURNS DOWNWARD, PRICES DROP, TAXES DROP, OKAY, NOW, I MEAN, IN MY PERSONAL FINANCE, IF I HAD A BUNCH OF CREDIT CARDS OUT THERE, YOU KNOW, I GOT FIRED , BUT IS OFF TO MAKE THOSE OBLIGATIONS. IS THIS OFF-THE-WALL?

>> THESE AREN'T OFF THE WALL. THESE ARE GREAT QUESTIONS, AND I WILL JUMP INTO THEM JUST A MOMENT. IS A VERY SIMPLISTIC,

[00:15:02]

RIGHT? THERE IS A GREATER RISK FOR MULTIPLE REASONS. NUMBER ONE, YOU HAVE RESTRICTED OUT OF YOUR FUND. THAT IS A FACT. IN THE PURPOSE OF THE AMINAL FUND IS TO FUND YOUR MAINTENANCE AND OPERATIONS. NOW, YOU ARE FUNDING ALL OF THESE LARGE PURCHASES, AND YOUR UPPER GETTING YOURSELVES. THERE IS A CAVEAT THAT IN THE APPROPRIATIONS CLAUSE IN THOSE LEASE AGREEMENTS, YOU COULD DECIDE NOT TO APPROPRIATE THAT MONEY. GUESS WHAT? IS GOING TO BE PUSHING AROUND COURSES AND PUMPERS ON THE MAP BECAUSE THEY'RE GOING TO TAKE THE VEHICLE. SO, WANT TO OBLIGATE YOURSELF TO THIS , IN REALITY,

WHAT ARE YOU GOING TO DO? >> RAY.

>> THE ONLY THING YOU WOULD HAVE REALLY DONE IS HAMSTRUNG YOUR MINUTES OPERATIONS. SO, THE QUESTIONS YOU HAVE TO ASK IS ARE YOU WILLING TO PAY FOR THIS ? SO, THAT IS NUMBER ONE.

WE ARE NOT GOING TO COME AND PROPOSE A BRAND-NEW SET OF OFF-THE-WALL STUFF. YOUR MELISSA KRISTOF SHOWED YOU? WAS MORE COMPREHENSIVE. I DON'T THINK ANYONE CAN ARGUE THAT ANY OF THOSE THINGS HAVE ALREADY BEEN AUTHORIZED TO BE PURCHASED OR WILL BE PURCHASED. SO, THERE IS A RISK. IF THE ECONOMY RISKS, AND PROPERTY TANKS, WHAT HAPPENS? A COUPLE OF THINGS. BUT THAT IS GOING TO IMPACT EVERYTHING. THERE ISN'T GOING TO BE A WAY AROUND THAT. FOLDER BE AN IMPACT? SURE. BUT, IF YOU HAVE BURDENED YOUR CASH , IF YOU WILL, THINK OF M AND O AS YOUR CASH . IF YOU THINK OF THAT AS THESE DEBT OBLIGATIONS, WHAT IS GOING TO BE THE IMPACT OF THE

ECONOMY TANKS? >> AND THAT'S A GOOD

APPLICATION. I GET THAT. >> AND ALSO, IN TERMS OF THE RISK, WHO COUNSELS THIS AND THAT, THERE ARE CONSEQUENCES .

GUESS WHAT? GET VOTED OUT THE NEXT ELECTION. UNFORTUNATELY, YOU KNOW, THE NEXT ELECTION OFFICIALS WILL BE LOOKING AT WILL BE SIMILAR TO THAT SITUATION. I THINK IT WAS EXPLAINED WELL THAT WE FOUND OURSELVES IN A DIFFICULT PREDICAMENT FINANCIALLY , WHERE, YOU KNOW, WE, IF NOT FOR MAKING SMART DECISIONS ON MOVING AND RESTRUCTURING OUR FINANCIAL SITUATION, WE WOULD BE LOOKING AT A DEFICIT IN FUTURE YEARS. THAT'S IF WE DON'T PLACEMENT FOR NO ONE.

AND I CAN BE ONE OF THE WAYS VERY GET THE BURDEN OFF OF OUR M&O FUNDS, AND PAY FOR THE STAFF, THOSE FIREFIGHTERS A WAY TO PAY FOR IN FUTURE YEARS , WHEREAS NOW, WE WOULD NOT BE ABLE TO LOOK AT FUTURE FISCAL YEARS. SO, YOU KNOW, I DON'T KNOW , I THINK THERE IS MORE RISK DOING IT THE WAY WE HAVE BEEN DOING IT. LET'S JUST KEEP DOING IT THE WAY EVERYONE HAS BEEN DOING IT. I THINK THERE IS MORE RISK DOING THAT THAN ADJUSTING TO WHAT WE KNOW, WHICH IS WE ARE GOING TO HAVE TO BE MORE CREATIVE WITH THAT WE STRUCTURE OUR FINANCIAL SITUATION IN ORDER TO AVOID A DIFFICULT SITUATION.

>> THAT IS QUESTION ONE. >> IN TERMS OF MAINTENANCE, IS THERE ANYTHING PRACTICE THE WAY THAT IT IS SEEN IN COMMERCIAL

VERSUS THE OTHER? >> NO. ONE OF THE THINGS, FOR EXAMPLE, THE LEASE WAS PUT TOGETHER TO INCLUDE MAINTENANCE AS WELL. BUT IT WILL ALSO INCLUDE THAT AS PART OF THE PURCHASE PRICE AS WELL. SO, WE COULD MAKE THOSE THE SAME , AND HAVE THEM WITH AN EXTENDED MAINTENANCE.

>> WE ALSO HAVE THE OUTLINE IN THE GENERAL FUND AS WELL FOR YOUR MAINTENANCE. FOR EXAMPLE, A FIRING APPARATUS. I DON'T KNOW IF THAT IS GOING AWAY JUST BECAUSE WE ARE CHANGING , SO, WE ARE SO GOING TO BUDGET THE MAINTENANCE THINGS.

>> IS IN YOUR QUESTION WAS TO THE FACT THIS AT LEAST CONTAINS SOME KIND OF IT IS? WELL, NONE OF IT IS FREE. BUT HE EVER GIVES IT AWAY. YOU ARE PAYING FOR. SO, THAT MAKES THE

PURCHASE PLAN MORE DIRECT. >> SO, IS THAT THE RECOMMENDED WAY TO DO IT? TO CAPITALIZE THE MINUTES PIECE OF IT, WE ARE ALREADY DOING IT, YES. BUT IS IT THE RIGHT WAY TO DO?

>> WELL, I THINK THAT IS OPEN TO DEBATE. THE QUESTION BEING THE LIFECYCLE OF THE ASSETS, YOU WILL HAVE A MAINTENANCE

[00:20:02]

KNOW. >> I EQUALIZE IT TOO, BECAUSE RAISING CONSUMER EXAMPLES. RIGHT? I EQUALIZE IT TO. WHEN YOU YOUR CAR, DO YOU BY ALL OF THE CHANGES UP FRONT?

>> AND SOME PEOPLE DO THAT. IS ACTUALLY BECOMING A MORE COMMON OCCURRENCE , BECAUSE YOU'RE LOCKING IN A MAINTENANCE PRICE TODAY FOR THE NEXT FIVE YEARS GUARDING AND SAFEGUARDING EXCUSES. SO, WHILE YOU ARE THING YOU'RE PAYING INTEREST ON THE MONEY, THAT IS INTEREST RATE AND OTHER THINGS.

>> LET'S FOLLOW THAT ANALOGY A LITTLE BIT. WE DO HAVE A VEHICLE MAINTENANCE DEPARTMENT HERE. WE MAKE THE PURCHASE OF A VEHICLE THAT WE KNOW HOW TO MAINTAIN, AND WE TAKE ON THAT BURDEN? IT DEPENDS. WHEN IT COMES TO THE SPECIALIZED EQUIPMENT, WE DON'T KNOW ANYONE WHO KNOWS THAT. SO, NO CONTACT WITH UNDER TO GET THAT LIST .

>> BUT TO YOUR QUESTION , MAYBE YOU GUYS CAN ANSWER THIS. DOES IT MAKE MORE SENSE TO ROLL THAT INTO THE LOAN, IF YOU WILL , THAT IS THE ANALOGY, OR PAY FOR THAT RIGHT? I DON'T KNOW THE ANSWER TO THAT. I THINK WE WOULD HAVE TO RUN THE FINANCIAL SCENARIOS TO SEE WHAT MAKES THE MOST SENSE, BUT AGAIN, THE PURCHASER TODAY, OR DO YOU PAY AS YOU GO? AGAIN, IF YOU CAN PURCHASE AND GUARANTY PRICES AGAINST INFLATION, BUT SO IS PREFERRED. NOW THE QUESTION IS AGAINST INTEREST RATE THAT YOU MAY PAY ON THAT, BECAUSE OF THIS KIND OF YOUR QUESTION, I THINK WE WOULD HAVE TO RUN THE NUMBERS. BUT I DON'T KNOW THAT IT WILL BE SUCH A CERTIFICATE DIFFERENCE IN TERMS OF THE MONETARY CONSIDERATION. THERE MAY BE ONE, AND WE LOOK AT THAT, BUT I DON'T KNOW HOW IT IS POSITIVE. BECAUSE YOU ARE PAYING FOR. AND REMEMBER, WHEN YOU PUT IN THE LEASE, THERE IS AN INTEREST RATE ON THAT LEASE, AND WE ARE ALREADY DOING THAT.

SO, IF WE CONTINUE TO DO WHAT WE ARE DOING, WE ARE FINANCING THAT MAINTENANCE AGREEMENT . SO, MAYBE WE DON'T, ANYBODY PAY CASH OUT OF HAND. I DON'T KNOW IF WE ARE PREPARED TO

ANSWER THAT TODAY. >> THIS MAY BE MY LAST QUESTION. MAYBE. IN TERMS OF POLICY ISSUES WE ARE TALKING ABOUT HERE, ARE WE LOOKING AT BUILDING A POLICY AROUND THIS AND DEMORALIZING THAT SOMEHOW? SO THAT THIS IS A PLAN FOR

FUTURE COUNCILS? >> SO, I LAST QUESTION. DON'T HAVE A POLICY AROUND WHAT YOU'RE DOING NOW. IF YOU WANT US TO, WE CAN ARTICULATE SOMETHING. WE ARE HAPPY TO. BUT HOW YOU WERE DOING IT NOW IS AT THE CITY MANAGER'S DISCRETION, BRINGING IT TO YOU, AND YOU APPROVED IT. WE ARE GOING TO DO THE SAME THING. NONE OF THIS WILL BE APPROVED BY STAFF.

REMEMBER THAT ALWAYS. WE BRING IT TO YOU, JUST LIKE THAT IS HAPPENED IN THE YEARS SINCE, AND YOU ARE IMPROVING IT. WHAT WE ARE DOING IS PREPARING YOU SO THAT WE DON'T GET INTO A SITUATION WHERE WE PAY FOR SOMETHING CASH UP FRONT, THE EXAMPLE KRISTOF GAVE LAST TIME, AND THEN COUNSEL DOESN'T APPROVE THE DEBT ISSUANCE IN A FEW MONTHS. RIGHT?

>> WE CAN BUILD SOME KIND OF POLICY THAT YOU CAN AGREE TO, BUT YOU HAVEN'T HAD A POLICY IN YOUR WAY OF DOING IT. WE HAVE TO GET OFF OF THIS IDEA THAT THE WAY WE ARE DOING IT IS THE RIGHT WAY. IT WASN'T. I'M NOT QUITE TRYING TO CAST DISPERSIONS, IT IS JUST PROVEN THAT IT WASN'T, BECAUSE OTHER CITIES DO IT A DIFFERENT WAY AS WELL. IT DOES NOT MEAN IT COULD NOT WORK, BUT IT HASN'T. I WILL GO BACK TO THIS, THE PREMISE OF IT. I DON'T WANT THIS TO SOUND TRITE , BUT WHY WOULD YOU BURDEN YOUR CASH FLOW WITH YOUR DEBT? MOST PEOPLE, UNLESS THEY GOT A LOT OF MONEY, ARE NOT GOING TO PAY FOR A CAR OUT OF HAND OR PRIVATE A HOUSE OUT OF POCKET. THIS IS REALLY THE SAME THING. SO, CAN WE BUILD YOU A POLICY? SAME SURE WE COULD. BUT YOU HAVE NOT HAD A POLICY AND ALL THIS TIME. I WOULD BE HAPPY TO DO THAT IF THAT IS WHAT YOU LIKE WITH THE COUNCIL. I'M HAPPY TO DO IT THAT IS THE WILL OF THE COUNCIL. I AM HAPPY TO DO IT. I AM NOT SURE WHAT IT WOULD SAY, BUT WE CAN CERTAINLY TAKE A CRACK AT IT.

>> THE WAY THAT WE'VE BEEN DOING IS ONLY PART OF THAT.

WE'VE NOT HAD CLEAR, DESIGN POLICIES.

>> WELL, HELP ME UNDERSTAND --

>> THIS IS MY QUESTION OUT THERE. ABSENT OF POLICY, WE HAVE HAD A POLICY. WE TALKED ABOUT RISK EARLIER. WE HAVE ALWAYS OF THE RISK OF FUTURE COUNCILS REVERTING BACK, GOING BACK TO THE WAY THEY USED TO DO THINGS. SO, I, FOR ONE, WOULD LIKE TO SEE THIS POLICY CONFLICT, WHERE THIS IS THE STANDARD OF POLICY AND HOW WE DO MEANT MANAGEMENT HERE IN THE CITY.

>> BUT YOU DO SOMETHING TO THE DEGREE OF WORK , IT IS NOT EASY

TO DO THAT. >> YEAH, YOU HAVE TO HAVE, IF

[00:25:05]

WE WILL HAVE TO TALK ABOUT IT. I WILL BE IN MULTIPLE COUNCIL MEETINGS, AND I AGREE WITH YOU. I DO THINK A GOOD, ROBUST SET OF POLICIES AROUND THIS IS IMPORTANT.

>> IS IS A GOOD FRAMEWORK? >> YEAH, WE ARE HAPPY TO TAKE A

STAB AT IT. >> WHENEVER THERE IS A CHANGE, THERE'S SOMETHING PERCEIVED THAT IS LOST. THIS IS A PRETTY BIG SHIFT IN THE WAY WE ARE DOING THINGS. SO, BY GOING THROUGH THAT PROCESS , WHATEVER YOU WANT TO CALL IT , WE ARE BEING MORE INTENTIONAL ABOUT IT WITH THOSE FEDERAL BOUNDARIES IN PLACE . I DON'T KNOW WHAT ALL THE VARIABLES COULD BE.

YOU MIGHT NOT BE ABLE TO BOX YOURSELF AND LIKE THAT, I UNDERSTAND, BUT WHAT OTHER FRAMEWORKS ARE THERE?

>> I THINK YOU'D FRAME IT IN A SENSE OF CATEGORIZING EXPENDITURES CORRELATED TO THE DEBT INSTRUMENT. RIGHT? BECAUSE IF I'M HEARING YOU, I THINK WHAT THE CONCERN SEEMS TO BE IS MAKING SURE THAT WE DON'T GO OFF THE RAILS. RIGHT? ULTIMATELY, YOU'RE THE CHECK AND BALANCE WITH THAT, BUT CHECK THE FUTURE COUNCILS. SURE. YOU DEFINITELY DON'T WANT TO TRY TO SAY IT IS GOING TO BE 20% INS, AND THEN 80%, YOU KNOW, TAX-FREE. BUT, YOU CATEGORIZE MAYBE WE WOULD NOT ISSUE THIS FOR X, BUT WE WOULD ISSUE IT FOR THIS. WE CAN TAKE A STAB AT IT FOR SURE. BUT LET ME CAUTION. PLEASE, CONTINUE , BUT WE WILL HAVE THAT FOR YOU ON THE 14TH OR THE 16TH. AND PART OF THIS IS UNDERSTANDING THAT WE KIND OF NEED SOME HEAD NODS TO KNOW WHAT DIRECTION WE ARE GOING TO GO IN. ABSOLUTELY BRING IT BACK. IT IS YOUR DOCUMENT, SO WILL CRAFTER, YOU WILL TWEAK IT, YOU WILL TELL US WHEN YOU'RE HAPPY WITH IT AND WHEN YOU ARE NOT. BUT, PRINCIPALLY, WE DO NEED SOME DEGREE OF UNDERSTANDING WITH HOW YOU FEEL ABOUT THIS PARADIGM SHIFT. UNDERSTANDING THE NEED FOR DEVELOPMENT OF

POLICY. >> I DON'T DISAGREE WITH THE SHIFT OR ONSET AT ALL , THIS IS A MULTI-YOUR PHASING PROCESS THAT WE WILL DO. I THINK THERE NEEDS TO BE SOMETHING BUILT BY THE COUNCIL SITTING BEFORE YOU TODAY BEFORE THE POTENTIALLY

CHANGES IN A YEAR OR TWO. >> FAIR ENOUGH.

>> I WOULD AGREE. IN PRINCIPLE, I WOULD LIKE THIS. AS LONG AS WE HAVE VERY ROBUST TRAINING EDUCATION PROCESSES , FOR THE CITIZENS TO UNDERSTAND ON THE TO DO LIST.

>> ONE OF THE THINGS WE HAVE BEEN HOLDING, FOR EXAMPLE, IS SOMETHING WE WOULD LIKE TO BRING TO VERY QUICKLY. IT WOULD BE VERY SIMILAR ASKING YOU TO PROVE THE PURCHASE AT THIS

POINT AT A LATER DATE. >> CAN WE PAUSE THERE? IS EVERYONE CLEAR ON THAT PIECE? I DON'T WANT TO GLOSS OVER THAT.

RIGHT? BECAUSE I WILL BE A HUGE PIECE AND HOW WE DO OUR BUSINESS. BEFORE, WE BROUGHT YOU LEASE AGREEMENTS. NOW, WE ARE GOING TO BRING YOU A PURCHASE AGREEMENT, WITH OUR SAVINGS PAID FOR WITH GETTING REIMBURSED . OKAY.

>> SO, THAT WAS QUESTION ONE.

>> 30 MINUTES FOR THAT? >> SO, RECOMMENDATION AT THAT MANAGEMENT IS BASICALLY DIVERSE DEBT INSTRUMENTS. WHEN I WAS GOING TO MAKE TOWARDS THE END OF THIS LAST CONVERSATION ABOUT A POLICY THAT THE COUNCILS OF THE TARGET IAS RATE. THAT IS VERY BASICALLY COME TO YOU WITH AN ADAGE TO THAT TARGET. THAT HANDLES THE GAS PEDAL HERE COMES TO THE TAX RATES. THE THE VOTE THAT WAS PROVED IS THE CENSUS IS SERVED THAT LIMIT. THE COUNCIL CAN CHANGE THEIR MIND AT SOME POINT, AND THAT WILL IMPACT WHAT WE DO WITH HOW WE MANAGE THE DEBT STRATEGY. WE WILL BURY THAT THAT TERM BASED ON WHAT IS BEING FINANCED . IS NOT 30 YEARS OR SOMETHING LAST FIVE. STIFF DIFFERENT INSTRUMENTS AND HOW YOU PLAY OUT THE PRINCIPLE OVER TIME. AND THEN, WE PUT THAT ALL TOGETHER TO STABILIZE . SOMETIMES, DEPENDING ON HOW LONG YOU GUYS HAVE BEEN ON THIS BOARD, YOU

[00:30:02]

AUGUST? >> THE PRAISE VALUE IS JULY.

>> SO, WE ARE A JULY , AND WE ARE TRYING TO GET TOGETHER A BUDGET. THAT IS WHAT WE KNOW THIS WILL ACTUALLY GENERATE IS REVENUE. SO, YOU'RE ACTUALLY MAKING CALCULATIONS AFTER THAT PERIOD TO TRY AND FIGURE OUT HOW MUCH THAT CAN BE ISSUED IN ORDER TO MAKE THE TARGET. SO, IT'S A SHORT WINDOW FOR US TO GET THAT CALCULATION. SOMETIMES, THAT MEANS YOU WANT TO USE A SHORT-TERM DEBT INSTRUMENT IN ORDER TO GET THERE AND IN ORDER TO PRESERVE THAT RATE AT THE TARGET LEVEL.

SO THEN, YOU WILL TAKE HOW YOU WILL USE THAT MONEY FOR THE FUTURE. CASINO THAT YOU'RE GOING TO REPLACE A TRUCK NEXT YEAR. WE KNOW WE ARE GOING TO BUILD AN ANIMAL SHELTER THE

NEXT YEAR. RIGHT? >> AS LONG AS YOU BUY IT,

RIGHT? >> WE ARE BUYING.

>> BUT WE ARE NOT READY TO ACTUALLY ISSUE A DEBT FOR THAT.

WE KNOW THAT WILL NEED TO BE SUPPORTED . SO, LET'S ISSUE A SHORT-TERM NOTE, AND THEN PAY IT OFF IN ORDER TO PASS THE ISSUE THE FOLLOWING YEAR. IS THAT A GOOD QUESTION OF HOW

THAT MIGHT WORK? >> YOU SMOOTHING THE RATE SO

THEY DON'T DO THIS. >> RAY.

>> SOME OF US ARE TRYING TO KEEP THAT LEVEL SO THAT YOU HAVE THE ABILITY TO DEAL WITH HE BIGGER QUESTION IS HAPPENS AND HOW YOU MANAGE THAT . SO, WE WOULD THEN BE BUNDLING THAT DEBTS, AND BRING IT TO YOU IN THE AUGUST TIMEFRAME. WE CAN BRING IT TO YOU LATE AFTER THAT EVALUATION TO FACILITATE MATCHING IT . SO, THE TIME SHIFTS TO AUGUST. PROPERTY VALUATIONS ARE KNOWN. THIS IS ONE OF THE REASONS WHY THIS ACTUALLY FACILITATES ISSUANCE OF DEBT . BUT I HAVE HEARD FROM OUR EXPERT OVER THE YEAR IS THAT IT GETS PAID OFF JUST BEFORE THAT. THAT MAKES IT EASIER FOR US TO GET LOWER RATES OF THAT AUGUST TIMEFRAME. BUT I REALLY HELPS US DO IS HELP MANAGE THAT INS RATE. IT'S ALSO THE SAME TIME ARE YOU MAKING A LOT OF BIG SALES . YOU WILL HAVE THE BUDGET IN FRONT OF YOU. SO, THAT IS ALWAYS AUTHORIZED BY VOTERS , AND THAT TIME HE DEPENDS ON VOTERS AND HOW THEY REACT.

THAT IS MANAGED ON ITS OWN. OF COURSE, SO THE CAPITAL PURCHASES. THE REST GOES BACK TO THE DIRECTION THAT YOUR PROVIDING US. WE ARE FILLING IN THE GAPS BASED ON THE INFORMATION YOU GIVE US. THAT'S IT. TWO SLIDES. ANY QUESTIONS ABOUT DEBT MANAGEMENT?

>> IS THE INTENT TO SHIFT THE BOND ISSUANCE TO AUGUST IN PERPETUITY? HORSES FOR THIS YEAR?

>> IN PERPETUITY. >> SOUND LIKE A GREAT PIECE OF INFORMATION FOR POLICY. ALL RIGHT. NO QUESTIONS ABOUT THAT?

LET'S GO BACK TO CIP. >> YOU JUST DISCUSSIONS ABOUT THE SECOND AND THIRD BULLET POINT ON THE FIRST. SO, WE ARE REALLY LOOKING FOR WHAT YOU WANT TO PUT FORWARD. THE OF THE PRESENTATION FROM THE TASK FORCE . THROUGH THE STRATEGIES WE DISCUSSED , WE ARE PROPOSING TO MAKE ANOTHER $10,000,000.00 IF AUTHORIZED BY VOTERS CAN BE ISSUED. THERE WAS ONE SUGGESTION TO HOW THIS PLAYS OUT. THESE ARE SOME PERKS THAT HAD SOME'S CLARIFICATIONS. THIS IS THE PERKS PROJECT THAT WAS THERE , THE FIRE STATION , STREETS AND ALLEYS , AND REALLY

[00:35:01]

WOULD JUST FURTHER . >> I DON'T KNOW WHERE

BROADMOOR IS. >> YOU GO DOWN A LITTLE FURTHER, THERE'S A GATED NEIGHBORHOOD, AND THAT IS WHEN IT GOES TO THE TWO ENVIRONMENTAL THREE.

>> DOES THIS PROPOSE COME ALL THE WAY FORWARD?

>> NO, THIS IS ON THE OUTSIDE. THIS IS THE WAY OUTER SIDE.

THIS IS GOING TOWARDS THE VERY, VERY NORTHEASTERN TIP OF THE CITY. SO, THIS IS THE PARKWAY, THIS IS BROADMOOR. IT GOES INTO TWO LANES HERE . SO, TO FUND THE 7 MILLION , IT WILL GET ALL THE WAY HERE FOR CURB, GUTTER, AND STREETLIGHTS. THERE ISN'T ROOM FOR MORE GROWTH , SEE WILL NOT SEE A SIGNIFICANT INCREASE IN TRAVEL . SO, MY PREFERENCE OR SUGGESTION WOULD BE THAT WE JUST GET THE ROAD IN A GOOD CONDITION BY ILLUMINATING THE CURRENT ASPHALT , AND RELAYING IT , AND THEN ALLOCATING THIS TO A MORE TRAVERSED ROAD THAT WILL SEE A LOT MORE TRAFFIC IN THE FUTURE. THAT IS MY SUGGESTION.

>> THERE WAS ONLY CHANGED TO WHAT WAS PROPOSED BY COUNCILMEMBERS. WAS THERE ANY OTHER ISSUES OR THOUGHTS ?

>> AND YOU GET BACK TO THE PROJECT LIST?

>> THIS IS THE ONE FOR STREETS AND ALLEYS.

>> DID YOU WANT TO ALLOCATE SEVEN?

>> 7.3.

>> I HAD TO PROPOSE A $3,000,000.00 ASPHALT TREATY.

SINCE WE DO HAVE A COUPLE OF MEMBERS FROM CIP, I WAS HOPING THAT THEY COULD POTENTIALLY CHECK IN FOR WHAT THEIR

THOUGHTS MIGHT BE ON THAT. >> THE DRIVING FORCE FOR US IN PRIOR CONVERSATION TRAVERSING THAT ROAD. DO YOU HAVE ANY IDEA WHERE THE 7 MILLION WOULD END?

>> THAT'S WHY I SAID AS FAR EAST AS 7 MILLION WOULD TAKE IT. ARE NOT SUGGESTING IT TO CONTINUE THE FOUR-LANE DIVIDE ,

[00:40:01]

QUADRANT OF THE CITY. >> SO, WAS A PRETTY GROWTH

CONSIDERED? >> THE ONLY REASON WHY ASK HOW MUCH IS BECAUSE IF WE ARE LOOKING AT POSSIBLY RAISING OUR DEBT CAPACITY TO 10 MILLION , AND WE WERE TALKING ABOUT 7 MILLION , THAT LEAVES A 3 MILLION SHORTFALL .

>> THIS WOULDN'T BE -- THIS WOULD BE -- SORRY, IT WOULD -- INDISCERNIBLE - LOW VOLUME ] I UNDERSTAND WHAT YOU'RE SAYING

NO. >> TAKING THE CAPACITY AND

ALLOCATING IT TO THAT. >> WHEN WE GET TO THESE RECOMMENDATIONS, WE SEE THESE NUMBERS , AND THEY WILL HAVE TO

WORK BACK FROM THAT. >> IF YOU'RE HEADED IN THAT DIRECTION, YOU AT LEAST BE ABLE TO --

>> TRY, YES. >> AND HERE IS THE OTHER PART.

WHILE WE HAVE GROUPED AND SHOWN YOU ALL THESE RESPECTIVE PROJECTS, RIGHT? MOST LIKELY THEY WILL BE GROUPED AS PROJECTS IN MILLIONS. WE BRING THE PROJECT BACK FOR CONSIDERATION, YOU MAY DECIDE TO GO TO ELM, AND WHATEVER THE COST IS WHAT YOU ARE WILLING TO PUT.

>> YES. IT'S NOT LIKE WE CAN'T COME BACK AND TRY TO

RESTRUCTURE THIS. >> YOU COULD.

>> WELL, I DON'T DISAGREE. BUT I DO THINK WE HAVE TO BE SOMEWHAT CAREFUL WITH THAT. WITH THE SUSPICION RESIDENCE, THERE WILL BE SOME SEMBLANCE OF CONCEPTS FOR ALL BE DONE WITH

THIS MONEY. >> THERE IS , AND THE POLICY STUFF IS THERE, BUT THERE IS ALWAYS ROOM. I MEAN, THERE IS A LITTLE BIT OF ROOM FOR GROWTH.

>> BUT IF YOU SAY 7 MILLION OF HOWEVER MUCH MONEY IS GOING TO THE ROAD, OR VICE VERSA , IF YOU LIKE THAT IS DISINGENUOUS.

NOW HERE TO CHANGE THE 7 MILLION . YOU ARE ALSO ON CPT.

OUR CONCERNS RENT THE DEGREE TO WHICH THE FIRE APPARATUS NEEDS TO USE THAT PROGRAM. JUST LIKE IT WAS NOT EASY FOR US TO JUDGE THE CONDITION FOR EACH YEAR IN PERSPECTIVE. BUT, IT IS SERVICEABLE IF THE HIGHER PRIORITY JUDGMENT IS THE OTHER PRIORITY. I THINK THAT WAS HER CHANCE TO LEAVE IT OPEN FOR YOUR DISCUSSION. DOES THAT MAKE SENSE?

>> AND IN FACT, EVEN TALKED ABOUT STREETS AND ALLEYWAYS , WE WERE GOING TO GO AHEAD AND DO THAT.

>> RAY. >> SO, LET ME OFFER THIS BIT OF INFORMATION IF IT HELPS. SEVEN $300,000.00 APPEARS TO BE FOR AN ENLARGEMENT PROJECT. BUT IF WE ARE JUST WORRIED ABOUT THE SERVICEABILITY , WE HAVE ESTIMATES, BECAUSE WE ARE CONCERNED ABOUT IT AS WELL. OUR LAST TESTAMENT RECONSTRUCTION OF THE ROAD IS APPROXIMATELY $650,000.00.

>> AND THERE BE FOR TOOLED UP? >> ASPHALT, THE BASE,

EVERYTHING. >> THIS WOULD ACTUALLY BE GOING

DOWN TO THE BASE . >> YOU CAN ACTUALLY FIX THE BASIN COME BACK UP FROM THE ISSUES.

>> AND, YOU KNOW, CHIEF IS GOING TO MAKE SURE THOSE WATER TANKS AND ALL THOSE ENGINES ARE EMPTY.

>> YEAH, JUST DON'T FILL IT UP ALL THE WAY.

[00:45:01]

>> OTHER QUESTIONS, CONCERNS, OR OPPOSITION TO THAT?

>> WE DEFINITELY NEED IT. I STRUGGLE TO UNDERSTAND THESE MEETINGS. NOT FROM YOUR PERSPECTIVE, PERFORM A STAFF PERSPECTIVE, BECAUSE THAT IS IS A NEED. THAT ROAD HAS BEEN IN TERRIBLE CONDITION. IT'S NOT LIKE IT'S A NEW THING THAT IS POPPED UP LAST YEAR. THIS IS BEEN GOING ON FOR A LONG TIME.

SO, YOU KNOW, WE TAKE THE BACK ROADS THROUGH ELM GROVE AND LIBERTY GROVE IN THAT AREA. AND WITH 800 HOMES GOING UP

THERE -- >> FERAL COUNTRY ROADS.

>> AND I KNOW THE RESIDENCE UP THERE WOULD APPRECIATE SEEING SOME ATTENTION IN THAT AREA OF THE CITY. IT HAS REALLY BEEN

NEGLECTED FOREVER. >> I WAS REALLY HOPING YOU GUYS WOULD SAY YEAH, WE CONSIDERED A, HERE IS WHY WE SAID NO. BUT

IT DID NOT EVEN COME UP. >> NO, WE WOULD'VE LOOKED AT

THIS CAPACITOR . >> YOU NOT SUPPOSED TO GO THROUGH THERE. BUT THEY DO. THEY DO.

>> OKAY, ALL RIGHT. WHAT'S NEXT?

>> COUNCILMEMBER BOWERS, DID YOU SEE WHAT YOU WANTED TO SEE?

MEMORY. >> THAT ONE CHANGE AS UP TO 63.

THIS IS THE OTHER THINGS WE RECEIVED , COUNCILMEMBER.

>> SORRY. >> YOU HAVE TO FLASH THESE BASED ON WHAT THEY BELONG TO. BECAUSE WE COULD TO THE VOTERS, WE WILL BE ASKED TO SEE THE QUESTIONS. SO, THESE ARE THREE DIFFERENT QUESTIONS. PARKS AND RECREATION WILL BE ON THE THIRD. SO, THESE ARE WHAT WE RECEIVED. IS ANYONE WANT TO GO THROUGH THE ONES THAT THEY RECOMMENDED?

>> I DO WANT TO ADD -- I DO WANT TO ADD THAT THE CITY MANAGER WAS RIGHT. RIGHT? HE WAS RIGHT ABOUT THE TRAFFIC SIGNALS. I WAS WRONG. I WAS WRONG! I WAS SO WRONG, ACTUALLY . THE QUOTE THAT , YOU ALL SAW IT, I SENT IT TO YOU . I WAS IN THE UNDERSTANDING THAT I CAME IN LATER. IT DID NOT. SO, SHAME ON ME. NOW, UNFORTUNATELY, THOUGH, SINCE I DID GET THE QUOTE BACK WITH EVERYTHING, AND I DID TRIPLE CHECK TO MAKE SURE OF IT THIS TIME , IT IS ACTUALLY FOUR-POINT $1,000,000.00 , NOT THREE-POINT IT AS WE ORIGINALLY THOUGHT. THAT IS A $300,000.00 DIFFERENCE FOR A TRAFFIC SIGNAL BOX . SO, SHAME ON ME. CITY MANAGER WAS RIGHT. BUT, IT IS AN ADDITIONAL $300,000.00. IF YOU WANT TO LOOK AT THAT PARTICULAR TECHNOLOGY THAT WE REALLY ENHANCED WITH OUR TRAVELING AND MAKING REPAIRS . SO, THAT IS DO SOMETHING TO PUT OUT THERE WHILE WE LOOK AT THIS LIST, BECAUSE WE WERE TALKING ABOUT I THINK THE TOTAL WAS ABOUT 11 MILLION? SO, THERE IS A VERY SIGNIFICANT ITEMS.

>> I THINK KNOWING BACK, YOU KNOW, WE HAVE NOT HAD AN OPPORTUNITY TO GO THROUGH THIS WHEN WE DO PARTIAL DESIGN. FOR EXAMPLE, I THINK WHEN WE HAD A NEW SENIOR CENTER --

>> I WAS TAKING A SHOT IN THE DARK FOR SOME OF THESE, AND NOT

HAVE ANYTHING OFF THE TABLE. >> WE ARE PART OF BUILDING THE COMMUNITY CENTER A FEW YEARS AGO. I DON'T KNOW HOW GRANDIOSE YOU WANT TO BE. THAT WAS PRETTY GRANDIOSE.

>> WELL, I WILL REMEMBER THIS. BECAUSE WE DID MENTION THIS.

WE TALKED ABOUT THE MUSICAL CONTEST, WE SAID THAT THAT WOULD BE INDICATING SOME FACILITIES, AND THAT THERE IS THE POSSIBILITY OF CONVERTING THOSE INTO A SENIOR FACILITY.

SO, THERE ARE SO MANY THINGS MOVING RIGHT NOW, BUT IT IS VERY DIFFICULT WITH DEFINITIVE ANSWERS. THE SOMETHING ON OUR RADAR, AND SOMETHING WE ARE TARGETING. COULD YOU DEDICATE SO MANY THAT?. HOW MUCH? WE HAVE NO CLUE AND NO WAY OF KNOWING RIGHT NOW. AND UNDERSTOOD, BUT TO KRISTOF'S POINT, ALL OF THIS IS YOU MOVE FORWARD WITH IT. WE HAVE TO ASSOCIATE SOME AMOUNT WITH IT.

>> SO, I HAVE BEEN THINKING ABOUT THIS A LOT , OBVIOUSLY,

[00:50:03]

IF WE DO NOT HAVE THE STAFF TO TAKE CARE OF THE VOTE RAMP ON THE EAST SIDE, I DON'T WANT TO BUILD IT. I THINK IT IS VERY IMPORTANT, WHATEVER, IF WE ARE ADDING THINGS , THAT WE HAVE THE CAPACITY OF STAFF TO TAKE CARE OF IT.

>> I TOTALLY AGREE. >> YOU KNOW, I LIKE TO THINK , OH, YEAH, I WOULD LIKE REALLY LIKE TO HAVE THAT. BUT IF WE DON'T HAVE THE STAFF TO TAKE CARE OF THE DRAFT COME INTO TAKE CARE OF THIS, AND TO TAKE CARE OF THAT, I JUST DON'T

WANT TO DO IT. >> AND IF IT MAKES YOU FEEL ANY BETTER, I HAVE THOUGHT A LITTLE BIT ABOUT THIS AS WELL, AND HOW THERE COULD BE A FUTURE OPPORTUNITY. WHENEVER WE ARE READY OPERATIONALLY TO UTILIZE THE REIMBURSEMENT ZONE FOR THE QUADRANT OF THE CITY TO POTENTIALLY INVEST IN THE FUTURE AND THAT IMPROVEMENTS TO THE PARK , YOU KNOW, I THOUGHT A LITTLE BIT ABOUT THAT , AND HOW WE CAN LEVERAGE THAT IN THE FUTURE. AND WE GOT TO THE POINT OF BEING ABLE TO

MAINTAIN OUR ASSETS. >> RAY. SO, THAT IS ONE OF, YOU KNOW, ONE OF THE THINGS I WANT TO BE VERY AWARE OF. I LOVE THE IDEA OF A DOWNTOWN ENHANCEMENT FUND , BUT WE HAVE TO HAVE THE PARKS PEOPLE TO MAKE SURE THAT THESE MODS WORK.

IF THERE IS A LIGHT BULB OUT, WE NEED 70 TO FIX IT. IF SOME FLOWERS ARE DEAD, THERE IS A BUDDY TO REPLACE THEM, AND THERE IS SOMEBODY TO DO IT. SO, I JUST FEEL LIKE THAT IS VERY,

VERY IMPORTANT. >> ANY OTHER QUESTIONS OR

THOUGHTS ? >> I THINK, YOU KNOW, WE'LL PROBABLY GO INTO OUR RANKING SOON , BUT I DO, YOU KNOW, WANT TO AT LEAST SAY THAT A LOT OF THE ITEMS , EXCEPT FOR A FEW , THE DECORATIVE STREETLIGHTS, AND THE TRAFFIC SIGNAL INSTALLATION , THOSE ARE WELL ON THE AUTOMATIC GATES, BUT THOSE OTHER FUNDS ARE NUMBERS THAT ARE NOT REALLY TIED DOWN TO SPECIFIC THEMES. IF WE HAVE TO REDUCE THE ALLOCATION TO SOME OF THESE THINGS IN ORDER TO GET US TO THE RIGHT NUMBER , THAT IS PERFECTLY FINE AND ENCOURAGED. SHOULD WE ALLOCATE 1 1/2 MILLION? MAYBE IT IS JUST 1 MILLION. WE CAN DO

THINGS LIKE THAT. >> THE THING IS, THE VAST MAJORITY OF WHAT WE ARE TALKING ABOUT ASSAF WE JUST NEED TO DO JUST TO KEEP THE CITY FUNCTIONAL, AND TRAFFIC SIGNALS NOT HAVING HOLES IN THE ROADS. WE ARE NOT GOING THROUGH THINGS THAT ARE SUPER CRAZY. SO, TO LISA'S POINT, I AGREE.

WE REALLY HAVE TO DAMPEN OUR EXPECTATIONS ON THE SPECIAL STUFF THAT WE CAN ASK FOR AND TO WE CAN PROPERLY MAINTAIN IT.

BECAUSE, UP TO THIS POINT, THAT IS THE REASON WHY REARING WE ARE IN THE POSITION WE ARE IN. BUT GENERALLY SPEAKING , MOST

OF THIS IS JUST TO KEEP UP. >> I AGREE.

>> YEAH, THE NATURE TRAIL, THAT IS EXACTLY WHAT THAT IS. IT'S

VERY USEFUL. >> SO, THERE ARE LOTS OF QUESTIONS ABOUT THE PROPOSALS, AND TRYING TO GIVE US SOME DIRECTION. IF YOU RANK THESE, ONE BEING THE HIGHEST PRIORITY, THE COOLEST THING IS IF REALLY DON'T BELIEVE IT SHOULD MOVE FORWARD, YOU CAN PUT A ZERO. IF YOU DON'T THINK SOMETHING SHOULD MOVE FORWARD, THAT IS SOMETHING THAT WE SHOULD NOT HAVE MOVING FORWARD. THERE ONE, TWO, THREE, FOUR, FIVE, SIX, SEVEN, EIGHT, NINE, 10, 11. SO, ONE THROUGH 11, UNLESS THERE IS ZERO, THEN ALL THE WAY TO 10. DOES ANYONE NEED A PEN? THIS IS UP TO YOU. ONCE YOU HAVE DONE THAT, BRING IT BACK TO ME, AND WE WILL TAKE A SHORT BREAK.

>> YOU WANT TO RECESS NOW? >> YEAH, THAT ALLOWS US THE OPPORTUNITY TO AFFECT GREATNESS AND TABULATE. SO, THE 6:55 P.M. COUNCILMEMBER, LET'S GO TO RECESS, AND WE

[00:55:01]

THE RESULTS HAVE BEEN TABULATED. LET'S SEE. HIGHER SCORE WINS? SLOWER SCORE WINS?

>> HIGHER SCORE WINS. >> WAIT, HOLD ON A MINUTE.

WAIT! >> THAT IS CORRECT. ONE GOT 11 POINTS. SO, IT TAKES PRECEDENT OVER THE ZEROS.

>> OKAY. >> IS THERE A TRAFFIC SIGNAL? OR INSTALLATION ? SECOND IS ASPHALT ROAD MAINTENANCE FUND, 3 MILLION . LESSEE, WHERE THE THIRD? THIRD LOOKS LIKE IT IS A DOWNTOWN ENHANCEMENT FUND. THE FOURTH SEEMS TO BE AUTOMATIC PARKING LOT RESERVE , THE FIFTH IS SPEAK ON ROAD, AND AM I MISSING SOMETHING? THE FIFTH IS CITIES THAT ARE A FAIR LANDSCAPE INSTANCE. SEVENTH IS THE RCC IMPROVEMENTS. THE EIGHTH IS SENIOR CENTER. TWIN STAR, I MISS THAT. WHERE IS

THAT? IT IS. OKAY. >> THE SENIOR CENTER DID NOT GET THREE VOTES. LIKE, DID NOT GET FOUR VOTES.

>> OKAY. >> EVERYTHING ELSE GOT FOUR

VOTES EXIT THE PROGRAM? >> CORRECT.

>> ALL RIGHT. SO, I WILL TABULATE UP TO THAT.

>> SO, DO WE JUMP UP TO THE TALLY OF THAT AMOUNT?

>> ALL THE WAY BEFORE WE GET UP INTO THAT.

>> WELL, ULTIMATELY, MAYOR, DO WE WANT TO INCLUDE EVERYTHING THERE? OR JUST TO WHAT THE 10 MILLION GETS US?

>> WITH THE 10 MILLION GETS US, PLUS, WHEN WE TALK ABOUT SETTING ASIDE A CERTAIN AMOUNT. LIKE, 500,000, OR 1 MILLION , OR OVERAGES. ANY PROJECTS THAT WE MAY SEE

ISSUED. >> I THINK THAT'S 1025.

>> ARE YOU TABULATED WITH THIS IS BASED ON?

>> YES. >> THE KNOWN COST.

>> SORT THEM, AND IN TABULATE THEM.

>> AND WE GET THIS TO 1 MILLION, AND THEN, TAKE OUT ABOUT 300,000 FROM CITY THOROUGHFARE LANDSCAPE MINING ENHANCEMENT ? WE ALSO NEED TO SHIP THAT 300,000 AND INSTALLATION. THAT WAY, WE ARE UP TO PAR WITH FOUR-POINT 4

MILLION. >> SO, THE TOTAL UP THERE WITH EVERYTHING IS 10.5. AND THEN, YOU CAN START WITH LOWER ITEMS

. >> OR, YOU CAN READ A PORTION .

THAT IS UP TO YOU. >> IS IT OKAY THAT WE TAKE 500,000 OFF OF DOWNTOWN EASEMENT? OR DO YOU WANT TO

KEEP IT AT 1.5? >> I'M OPEN TO THAT.

>> AND THAT WOULD BE THE TRAFFIC SIGNALS?

>> THAT WOULD BE I WOULD LIKE TO SET ASIDE, IF WE CAN,

500,000. >>

] >> THAT WILL BE 280.

>> I THINK THAT WOULD DO WITH ALL OF THOSE GENERATORS.

>> SO, 500,000 WOULD BE A GENERAL FUND FOR OVERAGES.

HOPEFULLY, WE DON'T HAVE TO GO THERE. WE HAVE BEEN PRETTY GOOD ABOUT MOVING THINGS AROUND ENOUGH.

>> SO, YOU WANT TO REDUCE THE AMOUNT OF 5 MILLION?

>> WITH THE THOROUGH SKI MINING ENHANCEMENTS, TAKE A 300,000, AND SHIFT THAT TO THE TRAFFIC SIGNAL BOXES.

[01:00:09]

>> SORRY, SAY THAT AGAIN? >> TAKE A 300,000 OF THE 1 MILLION FROM CITY THOROUGHFARE ENHANCEMENTS , AND SHIFTED OVER

TO TRAFFIC SIGNALS. >> THAT WAY, WE ARE NOT $300,000.00 SHORTER ON TECHNOLOGY.

>> I WAS JUST CLARIFYING THE TRAFFIC SIGNAL.

>> IT WON'T SHOW UP THERE. >> OKAY. SO, THAT IS THE TOTAL, THOSE SHIFTS I BELIEVE, WITH 900 IN THE ROADS WITH THESE PROJECTS. $8,900,000.00? 900,000 FOR THE FIRST ONE. I WILL GO OVER THEM BASED ON THE RANKS. HE ASPHALT ROADS ARE 3 MILLION , ENHANCEMENTS OR 1 MILLION , UPDATES OR 300,000 , THE DECORATIVE STREETLIGHTS , THE CITY THOROUGHFARE LIGHTING, 700,000 . THAT IS A TOTAL OF 8.9. IN THE PARK AREA, WE HAVE 400,000 . WE HAVE 250,000 FOR TRADE-OFF CONSTRUCTION PARKING LOT IN NATURE TRAIL , AND 500,000 FOR IMPROVEMENTS. SO, THE TOTAL IS ONE .15. SO, YOU CAN ADD THOSE TWO TOGETHER .

>> WEAR YOU OUT WHEN YOU ADD THEM TOGETHER?

>> AND I WAS GOING TO SAY, REMEMBER, BE CAREFUL. THE 300,000 MOVED INCREASED AN ALLOCATION. SO, WE SOUGHT EXCEEDED THE CAPACITY TO SOME DEGREE. SO, LET'S NOT LOSE

THAT 300,000. >> WITH THIS , IT'S 350,000.

>> WE DID, BUT THE QUESTION IS THIS. YOU HAVE 10 MILLION IN ADDITIONAL CAPACITY. JUST BECAUSE WE SHIFTED IT DOESN'T MEAN WE GENERATED ADDITIONAL CAPACITY. WE STILL EXCEEDED

THE 10 MILLION CAPACITY . >> CORRECT.

>> PLUS, DON'T FORGET, DO WE WANT TO KEEP 500,000 ?

>> WHEN YOU GO TO 11 MILLION. >> RAY.

>> IT IS CERTAINLY POSSIBLE THAT WE CAN HAVE THE CAPACITY IF, YOU KNOW, OUR CONSERVATIVE PROJECTIONS ARE EXCEEDED BY THE ACTUAL VALUES. BUT FOR THE PURPOSES OF PLANNING WHAT IS GOING TO GO ON THE BOND ISSUANCE , ESPECIALLY THE GEO BONDS, WHICH WORKS THE STUFF WELL , RIGHT NOW, YOU'RE KIND OF IN EXCESS OF THAT . WE HAVE TO MAKE SURE WE DON'T MOVE IF WE ARE AGAINST THAT. I'M JUST PUTTING OUT THERE FOR YOU SO WE CAN STOP THERE AND FIGURE OUT WHAT WE ARE GOING TO

DO. >> WELL, I ALSO THINK THAT THERE COULD BE A CASE MADE TO NOT ISSUE ALL THE DATA THAT WE HAVE THE CAPACITY FOUR. NOW, I REALLY LIKE ALL THESE PROJECTS AND THAT KIND OF STUFF , BUT I DO THINK, YOU KNOW, WE DON'T KNOW WHAT WE DON'T KNOW. SO, I COULD EASILY SAY, YOU KNOW WHAT? MAYBE I WANT TO -- MAYBE WE DON'T WANT TO DO THAT WHOLE $10,000,000.00, I THINK WE WANT TO DO NINE, OR 8.5. I DON'T KNOW. BUT I DO THINK THAT THAT IS SOMETHING THAT WE SHOULD CONSIDER . JUST BECAUSE I HAVE X AMOUNT OF MY CREDIT CARD IS A LIMIT DOES NOT MEAN THAT I WANT TO TAKE IN ALL THE

WAY UP THERE. >> EXACTLY.

>> I WAS JUST ABOUT TO GET THERE. WE CAN COMPLETELY ELIMINATE THE CITY OF THOROUGHFARE . COMPLETELY TAKE THAT OUT. THROUGH THAT MILLION DOLLARS INTO THIS , AND MAKE

[01:05:06]

MIGHT HAVE MISSED. >> SO, WITH 20 WANT TO TAKE A

COMPLETELY? >> ILLUMINATE THE CITY THOROUGHFARE LANDSCAPES. THAT IS ACTUALLY 700,000.

>> I WOULD ALSO SAY , PARKWAY DOESN'T NEED LIGHTS.

>> WELL? >> IT'S DEPENDENT WANT TO ARE

MOBILIZE TO DOING. >> IF YOU WE TO DO ALL OF IT, IF YOU DO IT IN PHASES, GETTING ALL THAT DOWN IMMEDIATELY NOW INSTEAD OF LATER , THAT IS GOING TO BE THE MOST DIFFICULT

PART OF THAT PROJECT. >> AND WHAT NUMBER WAS

DECORATIVE? >> OF THE THREE PROJECTS, IT IS THE SECOND TO LAST. THE SECOND STORIES WERE ACTUALLY RANKS UP.

IT IS FOURTH FROM THE BOTTOM.

>> ON THE AUTOMATIC FLOODGATES, HOW MANY TIMES A YEAR DOES IT

OPEN? >> ANY TIME IT RAINS.

>> REALLY? >> HE MUCH ANY TIME IT RAINS, THAT AREA IS GETTING FLOODED. BUT REALLY, IT HAPPENS WHENEVER THEY DRIVE BY OR WE GET A CALL . THE SYSTEM MAKES IT TO WHERE AS SOON AS THE LEVEL OF THE GAUGE GETS HIT , THOSE SHUT AUTOMATICALLY ON THEIR OWN.

>> THIS IS TO INSTALL A LASER THE CUTS OFF THE TOP OF THE TRUCK? I JUST HAD ONE THIS WEEK.

>> OKAY. SO, WAS THE PROPOSAL TO INCREASE THE THOROUGHFARE

LANDSCAPE LIGHTING TO ZERO? >> ZERO.

>> LET'S SAY 700,000. >> WAS TO SAY 2 MILLION ON THREE PROJECTS, ONE .15 300,000 FOR A TOTAL OF MY MILLION

600,000? >> OKAY.

>> I WOULD BE OKAY TAKING OF THE PARKWAY ONES.

>> I MOVE THAT AS WELL. THAT IS A LOT OF MONEY.

>> I MEAN, I DON'T TAKE IT AS A NEED.

>> WE HAVE OUR HEADLIGHTS ON ANYWAYS.

>> I UNDERSTAND. IT IS NOT WELL IT AT ALL. EVERY DEVELOPED CITY AROUND US HAS INVESTMENTS IN STREETLIGHTS.

>> BUT WITH ALL THE DOWNTOWN PLANNING , AND EVERYTHING PUT TOGETHER , THAT IS PROBABLY NOT HAPPENING . AND MAYBE THAT IS A BETTER TIME TO WAIT FOR THAT, IS WHEN IT GETS INTEGRATED .

>> YEAH, IT DOES NOT MEAN WE WILL NEVER GET THEM.

>> RIGHT. THIS IS MAYBE A BETTER WAY TO LOOK AT THEM.

>> SO, WAS A FOUR? >> SO, THAT BRINGS US TO 5.2 MILLION FOR ADDITIONAL STREET PROJECTS, AND ONE .15 FOR PARKS. THAT'S A TOTAL OF 6.65 OF ADDITIONAL IN THE

PROJECT. >> AND I THINK THIS IS A GOOD MESSAGE TO THE CITY. ALL THAT WE HAVE A CAPACITY , WE ARE NOT

GOOD ON PHILIP. >> THERE WEREN'T ANY ADDERS IN

THE PIT. >> JUST SO THAT I AM CLEAR, THE SENIOR CENTER , THOSE TWO, ARE THEY STILL ON THE LIST WITH

[01:10:03]

NOW? >> I WILL SAY FOR US THAT THERE IS AN AFFILIATED DOLLAR AMOUNT. IF THE DEPUTY MEMBER WANTS TO THROW SOMETHING OUT THERE AND PUT SOMETHING TO IT --

>> THIS MAY FREE UP SOMETHING .

>> ABSOLUTELY. AND SOME POINT TIME, GOING BACK TO THE GETTING OF THIS CONVERSATION, WHY WE ARE SUGGESTING THE STRATEGY CHANGES , IT ALLOWS US TO BE NIMBLE ENOUGH THAT IF THIS UNKNOWN CAPITAL NEED ARISES, WE'LL BE ABLE TO FUND SOME IMPROVEMENT THAT BECOMES A SENIOR CENTER. WE THEN HAVE THE ABILITY TO COME BACK TO IT AND TO BRING IT TO YOUR

ATTENTION. >> THERE IS THE ONE QUESTION.

DO WE INCLUDE THE TWIN STAR PART?

>> AND WE CAN TRY TO TAKE A STAB AT IT. WE CAN COME BACK WITH A BEST ESTIMATE. THAT IS A PROJECT THAT WE CAN COME BACK ON. SO, WE CAN COME BACK ON THE 14TH OR SOMETHING.

>> FOR ANYONE WHO DOES NOT HAVE A HISTORY ON THAT ONE , WE HAVE THE INCIDENT OF TWIN STAR PARK , IT WAS CLOSE TO A YEAR I GUESS. TWIN STAR PARK HAS A SITTER FOR TWO PICKLEBALL COURTS OR A SOCCER COURT. AT THE LAST MINUTE , WHEN IT WAS BUILT, THERE IS A BASKETBALL THAT WAS ADDED TO THE SIDE OF IT. IT'S IN SUCH A POSITION THAT IF THERE IS BASKETBALL, THERE ARE PEOPLE EVERYWHERE. RIGHT? AND SO, WE DISCUSSED, THE COUNCIL AT THE TIME HAVE DISCUSSED FUNDING BEFORE HE REALIZED WE REALLY DID NOT HAVE SOME ACCESS FUNDING. WILL TURN IT OFF OVER THERE TO MAKE IT MORE USEFUL FOR EVERYBODY.

RIGHT? NOT JUST ONE GROUP THAT IS PLAYING ONE TIME. INITIAL THING WAS TO DO A SOIL SAMPLE, A SOIL SAMPLE WAS DONE , I AM DELIGHTED WITH THE SET A SAMPLE OF THAT ONE WAS. EVERYTHING GOT PUT ON POSITIVE AFTER THE SOIL SAMPLE. SO, WE DO HAVE A SOIL SAMPLE OUT THERE SOMEWHERE, BUT THE REST OF THE FUNDING WAS RECLAIMED TO GO BACK INTO COVERING OTHER EXPENSES AND STUFF LIKE THAT. I THINK THERE IS STILL A DESIRE TO HAVE ONE THERE. IS IT NECESSARY? PROBABLY NOT. THE PRIOR AMOUNT THAT WAS ALLOCATED WAS 250. I DON'T KNOW HOW MUCH IT COSTS TO BUILD A BASKETBALL COURT.

>> CURRENTLY, YOU'RE AT 69,650. YOU CAN PUT UP TO 70

MILLION ON THE BALLOT. >> WELL, I WOULD BE GOING WILLING TO GO TO THE 70. YEAH, AND GET THE BASKETBALL COURT.

? >> TOTAL?

>> NO, I AM SORRY. AVAILABLE.

>> OH. 73. THAT IS OUR CAPACITY. BETWEEN 69 AND 650.

CAPACITY? >> NO. THE TOTAL IS 73. YOU HAVE 350. 3,000,003 AND 50,000.

>> OKAY. WANT TO SEE OUR IMPROVEMENTS.

>> I THOUGHT THAT WAS INCLUDED.

>> IT IS. >> THEY HAD SOME ALLOCATED

THERE. >> THAT WAS OUR PARKING LOT.

>> I WAS JUST THE DOWNSTAIRS CAMPUS.

>> IS THAT RIGHT? >> WERE IMPROVED INCLUDED IN

THAT? >> THAT IS SOMETHING WE NEED TO

IDENTIFY. CORRECT? >> NO, I'M TALKING ABOUT THIS.

WHAT THE TEAM IS WORKING ON . >> IT IS.

>> I WANT EVERYONE TO KNOW THAT.

>> YES. YEAH, DON'T WHAT ITEMS THAT ARE NOT INCLUDED -- THIS IS FOR THE SENIOR CENTER, THE LIGHTING ENHANCEMENTS , AND STREETLIGHTS ON THE PARKWAY. WE DON'T HAVE A NUMBER FOR THE

[01:15:01]

MAY OCCUR. >> I HOPE IT DOESN'T COST

NEARLY THAT MUCH. >> IT WILL.

>> THANK YOU. I JUST NEEDED FROM STAFF TO HEAR THAT. I REALLY APPRECIATE YOUR POINT FROM EARLIER ABOUT NOT USING PUBLIC CAPACITY. WE AS A COUNCIL HAVE TO DESIGN, IF WE ARTY PUT THAT USE, WHERE DO YOU WANT TO USE THAT ROADWAY? INFRASTRUCTURE? IF THERE IS SOMETHING THERE, I THINK IT MIGHT BE WORTH CONSIDERING USING THE WORST OF THE CAPACITY SO THAT WE CAN ADDRESS AS MANY NEEDS AS POSSIBLE IF PEOPLE ARE AGREEABLE WITH THAT. ULTIMATELY, THE VOTERS WILL HAVE THE FINAL SAY , BUT THAT $3 MILLION , IF THAT'S BETWEEN THE 70 IN THE 73 , AT THE END OF THE DAY, THAT IS NOT A VERY BIG PERCENTAGE FOR WHAT THAT IS. I DON'T KNOW WHAT IT CAN DO IN TERMS OF CONSTRUCTING SOMETHING .

>> 3 MILLION? >> YES.

>> STREETLIGHTS? >> WELL, I'M TALKING ABOUT NATURE NEED. RIGHT? CONSTRUCTING A ROADWAY, SOMETHING THAT IS NEEDED AND VERY TANGIBLE, YEAH. I'M IN FAVOR OF THE STREETLIGHTS PERSONALLY, BUT THE COUNCIL IS NOT, AND THAT IS OKAY. I'M JUST THINKING WE WERE TO USE THAT CAPACITY TO THE TRUE NEED OF WHAT THE CITY HAS, WHAT WOULD THAT BE? OR IS IT BETTER TO SAY WE WANT TO STOP THERE?

>> WELL, YOU HAVE TO STOP! THAT'S A PAUSE! THAT IS WHAT WE KEEP TRYING TO REITERATE. INJURY WILL IDENTIFY A ROAD THAT DID NOT MAKE IT, MUCH LIKE LIBERTY GROWTH. HE COULD EVEN MAKE IT, FOR EXAMPLE. BUT WE HAVE THE ABILITY TO COME BACK ONCE FOR EVERY THREE YEARS . WE ARE GOING TO HAVE THIS CONVERSATION ALL THE TIME. IF THE COUNCIL DECIDES THAT THERE IS ANOTHER NEED UNKNOWN AT THIS TIME THAT HAS RISEN TO THE TOP, YOU WILL BE ABLE TO GRAB IT. ESPECIALLY IF IT IS OF THAT

NATURE. >> BECAUSE THE CAPACITY STILL

EXISTS. >> MAYBE EVEN ENHANCED. I

BELIEVE SO. >> I THINK THE OTHER THING IS IF YOU ARE WILLING TO CONSIDER CEOS , ALL OF THIS IS SEO

ELIGIBLE. >> WE HAVE TO! THANK YOU. I WAS GOING TO GET THERE. TO THE WHOLE POINT THAT YOU ALL HAVE MADE ABOUT ISSUING A 20 YEAR DEBT FOR THE FLOODGATES, THEY WILL PROBABLY NOT LAST 20 YEARS. RIGHT? SO, WHAT WE ARE GOING TO TRY TO BRING BACK TO YOU ON THE 14TH, SOME OF THESE THINGS IS A TRAIL. THE TRAIL? THERE YOU GO. SOME OF THIS STUFF, WELL WE RESENTED IT TO YOU HERE , WE CAN BACK ON THE 14TH, IT MAY NOT BE PART OF THE GEO, BUT WE WILL SHOW TO YOU, AND SHOWED THAT OF THE PLAN OF THE SEO ISSUANCE IN THE FUTURE.

THE REAL ISSUE IS CAPACITY , AND SEGUEING INTO THE NEXT PART OF THIS , YOU ALL HAVE SAID IT. YOU WOULD NOT ISSUE A 20 YEAR GEO FOR SOME OF THESE THINGS. WE'VE BEEN FOLLOWING YOUR INSTRUCTIONS. SO, WILL COME BACK AND SHOW YOU THAT. IT IS YOUR PLEASURE. IF YOU WANT TO DETERMINE NOW WHICH ONES YOU WOULD WANT TO PUSH OFF THE CO PILE, PLEASE DO.

>> I THOUGHT YOU NEED THAT DONE TODAY?

>> I DON'T THINK WE DO! WE WILL TAKE A GOOD STAB BASED ON THE FEEDBACK THAT WE HEARD, AND PRESENTED YOU ON THE 14TH FOR YOUR FINAL CONSIDERATION. AND REMEMBER, THAT IS WHY WE ARE COMING BACK ON THE 16TH. BECAUSE IF WE MISS THE MARK, WE HAVE THE ABILITY TO ADJUST AND COME BACK. I DON'T WANT ANYONE TO FEEL LIKE YOU HAVE TO MAKE SOME FINAL DECISIONS TONIGHT. I DO NOT WANT TO INCONVENIENCE YOU IN THE FUTURE.

>> I THINK THE 14TH AS WE LOOK AT ALL OF IT AND GET INTO IT.

OUT. ARE WE GOOD? >> JUST 30 MINUTES. I TOLD YOU.

[4. DISCUSS CONSENT AGENDA ITEMS FOR FEBRUARY 6, 2024 CITY COUNCIL MEETING. ]

>> ARRAY. WE ARE DONE WITH ITEM THREE A. ITEM FOUR IS TO

[01:20:04]

ALL RIGHT. THEN, WITH THAT , IT IS 7:40 P.M., AND WE ARE ADJOURNED.

* This transcript was compiled from uncorrected Closed Captioning.