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Regular City Council Meeting Monday, October 24, 2011 Page 25 Mayor Roe recognized the concerns expressed; however, he opined that this was the first step to move forward with the City's Port Authority, as staff had been di- rected by previous City Council action to proceed with these projects, and to do so in a manner that would take advantage of the best financing options available at the least impact. Mayor Roe opined that this could not occur if the City waited until the next opportunity for a referendum, one year from now; and therefore, he supported this option as an alternative other than through a park abatement bond- ing that was also not subject to a referendum. Regarding the fire station project, Mayor Roe noted that the option for equipment bonds would be subject to a reverse referendum, requiring a petition of 5% of par- ticipants from the last city election to bring to the voters. While being a supporter of using referendums, Mayor Roe advised that he did not make the decision for this alternative lightly, and respected the City's past history of voter referendums and City Council policy. Mayor Roe noted that the City Council, for purposes of upgrading the refrigeration system at the OVAL, had al- so bonded without referendum, so there was some precedent already. However, Mayor Roe recognized that this was larger in magnitude, and didn't deny it; how- ever, he opined that the Port Authority statutes were not outside of what the law allowed the City to accomplish; and he was supportive of using that approach in this case. Mayor Roe noted the complicated process in using a park abatement bond process; and further noted the less cumbersome administrative and issue process in using this option, while also allowing the City to get the best possible interest rates. While reluctant to use the Port Authority powers of the City Coun- cil, in this case, Mayor Roe expressed his support of doing so. Roll Call Ayes: McGehee and Pust. Nays: Willmus; Johnson; and Roe. Motion failed. Johnson moved, Willmus seconded adoption of Resolution No. 10944 (Attach- ment A) entitled, "Resolution Approving Modifications to the Redevelopment Project Area and Industrial Development District No. 1 Plan (Attachment B);" in conjunction with the sale of bonds to finance the construction of a new fire station and park improvements. While not taking the decision lightly, Councilmember Johnson expressed his total support for the park improvement and fire station bonding; opining that this was the best step forward for the City. Councilmember Johnson noted that he had looked at the various challenges for these two (2) extremely worthy projects; and while there remained a difference of opinion as to whether they were maintenance items, he believed the projects were maintenance-related and did not require a voter referendum. Councilmember Johnson stated that he had been elected by