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Councilmember Burg appreciated the efficient nature of option three. <br />Lotter discussed a global levy spreadsheet that he offered to the Council six or seven years ago. He <br />commented that the spreadsheet was not fully supported by the Council at the time and therefore did not gain <br />favor. He understood that Councilmember Bauman was disappointed, but wanted to reiterate that staff had <br />tried to provide the Council with a financial picture in the past and was shot down. <br />Councilmember Jacobsen was interested in reviewing this financial forecast. Lotter believed that a copy might <br />be available in the file archives. <br />Mayor Jacobsen believed this would also be beneficial. <br />Davitt reported that with the 2016 budget she would be including a capital improvement plan for the next five <br />years. <br />Councilmember Bauman was in favor of readdressing the proposed street project plans in order to smooth out <br />and seek a balance that would reduce the debt impacts on the City. She believed the City should get away <br />from a specific number of miles and focus rather on the actual roadway needs. <br />Mr. Ruff provided the Council with information on possible savings for outstanding TIF debt. He reported that <br />in order to maximize interest rates the City could pursue bank qualification, which would keep interest rates <br />one-half of a percent lower. For this reason, he recommended that the bond refunding for 2015 be delayed <br />until the end of November of early 2016. He discussed the savings the City would see through the length of <br />the bond issue by pursuing the bank qualification. He anticipated that he would come back before the Council <br />late this fall with a bond resale if the interest rates remain favorable. <br />Worksession adjourned at 6:27 pm <br />Respectfully submitted, <br />Terri Haarstad <br />City Clerk <br />