Welcome to the City of Eastborough

Special Westside Street Finance Meeting - November 8, 2011 - 5:00 pm

PRESENT

Council President:

Britt Brown

Council:

• John Johnson
• Dave Anderson
• Chris Owen

Treasurer:

Norman Farha

City Clerk:

Ann Townsend

Assistant City Clerk:

Barbara Kratzer

ABSENT

Mayor, Thom Rosenberg; Councilman, Greg Shelton

GUESTS:

Larry Kleeman, Cooper, Malone McClain, Inc. (Bond Council)

Minutes

Council President, Britt Brown, opened the meeting and turned it over to Larry Kleeman, Bond Council, to review the tentative financing schedule for the Special Westside Street Project.

Kleeman outlined the process as follows:

11/08/2011	Special Meeting: Certify the final costs and proposed assessments Set Public Hearing (11/22/2011 regarding proposed specials
11/11/2011	Publish resolution and mail proposed assessment letters to Westside residents
11/22/2011	Regular Council Meeting: Public Hearing; Approve special assessment ordinance and any pre-sale documents that might be needed
11/30/2011	Publish Ordinance and mail special assessment information to Westside residents
12/27/2011	Regular Meeting: No action taken
12/30/2011	Prepaid specials due (finalize bond amount)
1/10/2012	Notice of Private Sale published (Cooper Malone underwriting)
1/24/2012	Regular Meeting: Approve bond ordinance and resolution
2/22/2012	Bond closing; money wired to state treasurer
3/01/2012	Series 2011 Temp Note matures Certify special assessments to county for 2012 assessments

Larry Kleeman reviewed the following documents: (Exhibit A) Statement of Final Costs; (Exhibit B) Assessment Roll Certification; Exhibit C) Notice of Public Hearing; Exhibit D) Form of Notice of Hearing and Statement of cost Proposed to be Assessed and answered questions concerning the process.

After full consideration thereof, Council member John Johnson moved to take the following action as amended by 11-08-2011 update:

1. Approve each of the said documents;
2. Establish November 22, 2011 at 5:30pm to meet for the purpose of hearing any and all written or oral objections to the respective assessments set forth therein;
3. Cause the City Clerk to publish the Notice of Public Hearing in the official City newspaper not less than 10 days prior to such public meeting date
4. Mail the form of Notice of Hearing and Statement of Cost Proposed to be Assessed to each and all owners of property affected by such assessments at their last known post office address on the same date as the publication of Notice of Public Hearing; and
5. File each of said documents of record in the office of the City Clerk and make the same available for public inspection.

The motion was seconded by Councilmember David Anderson, and approved by the following roll call vote:

Yea: David Anderson, Chris Owen, John Johnson
Nay: None

Meeting adjourned