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Regular City Council Meeting Monday, August 17,2015 Page 4 Finance Director Miller advised that he had the report available if of interest to the City Council. Mayor Roe sought public comment on this matter. No one appeared to speak to this issue. Willmus moved, Etten seconded, adoption of Resolution (Attachment A) entitled, "Resolution Accepting Proposal on the Competitive Negotiated Sale of $3,060,000 General Obligation Tax Increment Revenue Bonds, Series 2015A, and Levying a Tax for the Payment Thereof;" as amended At the request Councilmember McGehee, Ms. Heaton advised that the spend- down time for the City to expend bond proceeds was within twenty-four months, with an outside limit of three years, based on new regulations and other issues ap- plying to the bond. Ms. Heaton further reported that those expenditures were as specified to be used for public improvements within TIF District 17 and a certain percentage available within the immediate area of the district as also stipulated. At the request of Councilmember Laliberte, City Manager Trudgeon reported that staff has initiated internal discussions for bringing recommendations for those specific infrastructure improvements, and would bring those and a recommended schedule for moving forward to the City Council in the very near future. Roll Call Ayes: Willmus, Laliberte, Etten, McGehee, and Roe. Nays: None. Mayor Roe noted how pleasing it was to hear that the strong financial efforts of the City Council and its taxpayers were paying off. Recess Mayor Roe recessed the meeting at approximately 6:24 p.m., and reconvened at approximately 6:27 p.m., with Councilmember Willmus leaving the meeting at approximately 6:25 p.m. b. Joint Meeting with Finance Commission Mayor Roe welcomed the full Finance Commission, consisting of: Chair Robin Schroeder, Commissioners John Bachhuber, Angela Byrne, Edwin Hodder, Naga- raja Konidena, Justin Rohloff, and Peter Zellar. Finance Director and staff liaison to the commission, Chris Miller was also present in the audience. Chair Schroeder provided an overview of activities of the Commission since their inception, as detailed in the RCA dated August 17, 2015; and listed attachments to the RCA representing recommendations of the commission to the City Council for their consideration, comment and/or action. Attachments included recom- mendations on financial policies, capital improvement program (CIP) funding