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Date: 11/14/2011Board: City CommissionDocumentType: MinutesWeb Posted: 4/4/2012 11:04:30 AM
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BOARD OF CITY COMMISSIONERS
CITY OF SHAWNEE
SPECIAL CALLED SESSION
NOVEMBER 14, 2011

The Board of City Commissioners met in Special Called Session at the City Commission Chambers at City Hall, 16 West 9th Street, Shawnee, Oklahoma, Monday, November 14, 2011 at 1:30 p.m., pursuant to notice duly posted as prescribed by law. Mayor Peterson presided and called the meeting to order. Upon roll call, the following members were in attendance.

Linda Peterson
Chairman

Absent Frank Sims
Commissioner Ward 1 Vice Mayor

James Harrod Billy Collier
Commissioner Ward 3 Commissioner Ward 4

John Winterringer Steve Smith
Commissioner Ward 5 Commissioner Ward 6

Commissioner(s) absent: Pam Stephens


Others in attendance were City Manager Brian McDougal, City Clerk Phyllis Loftis, Senior Deputy City Clerk Donna Mayo, Finance Director/Treasurer Cynthia Sementelli, City Attorney Mary Ann Karns, Justin Erickson, Mike Jackson, John Krywicki, Russell Frantz, Steve Nolen, Jimmy Gibson and James Bryce. The media was represented by Kory Oswald, Shawnee News Star and Wayne Trotter, Countywide News.

The Call for said meeting was entered upon the records by the City Clerk, said Call being as follows:



NOTICE OF A CALLED SPECIAL SESSION OF THE BOARD OF CITY COMMISSIONERS OF THE CITY OF SHAWNEE, OKLAHOMA

TO THE CITY COMMISSION OF THE CITY OF SHAWNEE, OKLAHOMA:

You and each of you are hereby notified that by virtue of a call issued by me on this 10th day of November, 2011, a Special Called Session will be held of the Board of Commissioners of the City of Shawnee, Oklahoma at the City Commission Chambers at City Hall, 16 West 9th Street, Shawnee, Oklahoma at 1:30 p.m. on November 14, 2011, and you are hereby notified to be present at said meeting.

The purpose of said meeting will be discussion, consideration and action on recommendations from bond counsel and financial advisors for the method of funding capital improvement projects as approved November 7, 2011; and discussion, consideration and action regarding the issuance of private placement note, setting the sum, itemizing and prioritizing the projects, authorizing staff and financial advisors to negotiate terms with lending institutions.

(SEAL)

ATTEST:

s/s Phyllis Loftis s/s Brian McDougal
PHYLLIS LOFTIS BRIAN MCDOUGAL
CITY CLERK CITY MANAGER


STATE OF OKLAHOMA, COUNTY OF POTTAWATOMIE, SS.

I received this notice on the 10th day of November, 2011 at 1:09 o’clock p.m., and executed the same by delivering a true and correct copy thereof to each of the Commissioners of the City of Shawnee, Oklahoma as follows:

I delivered a true and correct copy to Mayor Linda Peterson
via e-mail at 1:09 o’clock p.m. on November 10, 2011 but no response was received

I delivered a true and correct copy to Commissioner Frank Sims
via e-mail at 7:56 o’clock a.m. on November 11, 2011

I delivered a true and correct copy to Commissioner John Winterringer
via e-mail at 8:35 o’clock p.m. on November 11, 2011

I delivered a true and correct copy to Commissioner Steve Smith
via e-mail at 1:09 o’clock p.m. on November 10, 2011 but no response was received

I delivered a true and correct copy to Commissioner James Harrod
via e-mail at 7:57 o’clock a.m. on November 11, 2011

I delivered a true and correct copy to Commissioner Pam Stephens
via e-mail at 1:51 o’clock p.m. on November 10, 2011

I delivered a true and correct copy to Commissioner Billy Collier
via e-mail at 1:09 o’clock p.m. on November 10, 2011 but no response was received


s/s Phyllis Loftis
City Clerk

CALL FOR SPECIAL SESSION OF THE SHAWNEE BOARD OF CITY COMMISSIONERS OF THE CITY OF SHAWNEE, OKLAHOMA TO BE HELD ON THE 14TH DAY OF NOVEMBER, 2011 AT 1:30 O’CLOCK P.M. AT THE CITY COMMISSION CHAMBERS AT CITY HALL, 16 WEST 9TH STREET, SHAWNEE, OKLAHOMA. THE PURPOSE OF SAID MEETING WILL BE DISCUSSION, CONSIDERATION AND ACTION ON RECOMMENDATIONS FROM BOND COUNSEL AND FINANCIAL ADVISORS FOR THE METHOD OF FUNDING CAPITAL IMPROVEMENT PROJECTS AS APPROVED NOVEMBER 7, 2011; AND DISCUSSION, CONSIDERATION AND ACTION REGARDING THE ISSUANCE OF PRIVATE PLACEMENT NOTE, SETTING THE SUM, ITEMIZING AND PRIORITIZING THE PROJECTS, AUTHORIZING STAFF AND FINANCIAL ADVISORS TO NEGOTIATE TERMS WITH LENDING INSTITUTIONS.

By virtue of the authority vested in me by Section 4, Article IV of the Charter of the City of Shawnee, Oklahoma, a Special Session of the Board of City Commissioners of the City of Shawnee, Oklahoma is hereby called to meet at the City Commission Chambers at City Hall, 16 West 9th Street, Shawnee, Oklahoma at 1:30 p.m. on November 14, 2011 for discussion, consideration and action on recommendations from Bond Counsel and Financial advisors for the method of funding capital improvement projects as approved November 7, 2011; and Discussion, consideration and action regarding the issuance of private placement note, setting the sum, itemizing and prioritizing the projects, authorizing staff and financial advisors to negotiate terms with lending institutions.
Witness my hand this 10th day of November, 2011.

s/s Brian McDougal BRIAN MCDOUGAL
CITY MANAGER

(SEAL)

ATTEST:

s/s Phyllis Loftis
PHYLLIS LOFTIS, CITY CLERK


CALL TO ORDER:

DECLARATION OF A QUORUM

Roll was called with six Commissioners present and a quorum was declared.

AGENDA ITEM NO. 1: Discussion, consideration and action on recommendations from Bond Counsel and Financial advisors for the method of funding capital improvement projects as approved November 7, 2011.


City Manager Brian McDougal explained that this meeting was to talk to the bond advisors to discuss projects, amounts and funding sources. The City Manager also provided copies of a proposed ordinance regarding authorizing an election for voters to consider a ½ cent sales tax and for the issuance of general obligation bonds for the completion of capital improvement projects. Commissioners examined these documents at great length prior to discussion with the bond advisors. Commissioners will vote on this ordinance in a future meeting.

Mr. Nathan Ellis of The Public Finance Law Group spoke to the Commission regarding this ordinance and each proposition for capital projects was discussed.

Mr. Chris Gander, also with The Public Finance Law Group, distributed a Financial Analysis and General Obligation Bond Proposal, which included a “net assessed property valuation” graph and projected property taxes through the year 2019.

Mr. Allan Brooks spoke regarding the proposed city excise tax (sales tax) increase stating that, if approved, it would become effective July 1, 2012 and continue through June 30, 2022.

Commissioner Harrod again stated his opposition to the projects, proposed amounts and funding terms.

Commissioner Smith said it was time to let the city bosses (voters) decide on the issues.


A motion was made by Commissioner Sims, seconded by Vice Mayor Collier, to instruct the bond advisors to continue to finalize documents along the lines of the documents presented at this meeting. Motion carried 6-0.

AYE: Sims, Collier, Winterringer, Smith, Harrod, Peterson
NAY: None

AGENDA ITEM NO. 2: Discussion, consideration and action regarding the issuance of private placement note, setting the sum, itemizing and prioritizing the projects, authorizing staff and financial advisors to negotiate terms with lending institutions.

City Manager McDougal presented this item and explained third penny short term note and provided a spread sheet showing the projects, their original costs, the amount of any additional funds to help with the project and their net estimated costs. The project list is as follows:

Project Original Extra Total

Expo Parking Lot $1,300,000.00 $200,000.00 $1,100,000.00
Expo RV Electrical $ 500,000.00 500,000.00
Expo Comfort Stations $ 250,000.00 250,000.00
Library Roof $ 250,000.00 250,000.00
Airport Track $ 400,000.00 400,000.00
Cemetery Building $ 500,000.00 500,000.00
Squad One Apparatus $ 465,000.00 $265,000.00 200,000.00

$3,715,000.00 $3,250,000.00

It was noted that Pottawatomie County Home Finance Authority has donated approximately $59,000 toward the Expo Parking lot and that Pottawatomie County will also help finance.

It was agreed by Commissioners that priority should be given to the first three items on the project list.

Mr. McDougal and Allan Brooks informed Commissioners of another option to consider. Mr. Brooks noted that there are five years left on bonds for the north side sewer plant improvements. Bond experts advise that these could be refinanced at the much lower rate of 2¼ percent. It was further noted that after refinancing the original OWRB loan and paying transaction costs would provide a $38,000 savings to the City/SMA.
A motion was made by Commissioner Smith, seconded by Commissioner Harrod, to approve $3,250,000.00 placement note and to include refinancing of OWRB loan all as one Shawnee Municipal Authority note. Motion carried 6-0.

AYE: Smith, Harrod, Peterson, Collier, Winterringer, Sims
NAY: None

AGENDA ITEM NO. 3: ADJOURNMENT

There being no further business to come before the meeting, a motion was made by Commissioner Sims, seconded by Commissioner Winterringer, that the meeting be adjourned. Motion carried 6-0. (2:35 p.m..)

AYE: Sims, Winterringer, Smith, Harrod, Peterson, Collier
NAY: None



LINDA PETERSON,
MAYOR
(SEAL)

ATTEST:

_________________________
PHYLLIS LOFTIS,
CITY CLERK


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This document is provided as a public information device. Please contact City Hall at 405-878-1604 for official documents.