Laserfiche WebLink
<br />Regular City Council Minutes -11/18/02 <br />Page 16 <br /> <br />of Ankeny Kell as the architect for the Police and Public <br />Works Maintenance facilities; and approved the staff s <br />suggested Overall Proj ect Timeline as presented in the <br />staff report dated November 18, 2002. <br /> <br />City Manager Beets had requested Council discussion of <br />selection of an architectural firm and the timing for a bond <br />sale or sales in consideration of the recent voter approval <br />of the $9.7 Million Bond referendum for Police and Public <br />Works Maintenance Facilities. <br /> <br />Councilmember Klausing asked for additional discussion <br />time to consider approval of the architectural firm, which <br />he supported rather than going out for RFP's again, but <br />asked that the motion be amended to delete the timeline <br />portion pending further Council discussion. <br /> <br />Mayor Kysylyczyn proceeded with the original motion, <br />stating that the time line provided a goal for staff, <br />Councilmembers and the community. <br /> <br />Roll Call <br />Ayes: Schroeder, Kough, Maschka, Klausing and <br />Kysylyczyn. <br />Nays: None. <br /> <br />Finance Director Miller identified four (4) issues for <br />Council discussion and consideration, consisting of <br />construction cash flows; interest rates; arbitrage; and <br />structure of the bond. <br /> <br />Mr. Miller provided a brief definition of what was meant <br />by "arbitrage." Mr. Miller anticipated fast-tracking the <br />process, allowing 3 - 4 months, with an anticipated bond <br />issue in early spring. Mr. Miller suggested that, given the <br />favorable interest climate, the Council may wish to <br />consider structuring the bond issue for ten (10) years, <br />rather than the anticipated fifteen (15) years. <br /> <br />Maschka moved, Kysylyczyn seconded, directing staff to <br />proceed as expeditiously as possible. <br /> <br />Issues Update <br />