Remarks by Darrin Palumbo
628 remarks on the record, newest first · Page 22 of 26
“You're going to have opportunity at the end of the meeting for public comment, and we're going to talk about this going forward in another bond proposal. So, Alan, I don't have to open this up for public comment.”
“If you could read it, Mario, you have an opportunity at the end of this meeting to make a public comment if you'd like, and that'll be for this, for anything you'd like. Joan, please read into the record.”
“I watched the planning board meeting, spoke to one of the members, a drive-by, and looked at it on Google Earth.”
“I saw this agenda so we can move pretty quick here. Mary, please.”
“Councilor, light signs if you have questions. Councilor Goehler, you were up first.”
“Second. Motion by Councilor Goehler, second by Councilor Gray. Any other light signs if there's a Councilor comment? Anybody signed up for public comment?”
“All right. Call the roll, please. Councilor Goler?”
“Yes. All right. Thank you, staff, and thank you, planning board, for the work on this. It made it easy for us. We're moving on to item 15, resolutions and city council items. This will be 15A, and I'll ask Joan to read this resolution to the record, please.”
“Thank you, Chief Byrne. Councillor Schwan, you're up first.”
“Motion by Councillor Schwan, second by Councillor Doan. I still have some light signs on.”
“Thank you. I see no other light signs. Anybody signed up for public comments on this?”
“All right. Call the roll, please. Yes, sir.”
“And Alan, thank you for keeping me on order when I printed out my own agenda as opposed to the one Joan gave me because I like them on one page. It looks like I cut a little bit off. So now we move on to item 15, resolutions and city council items 15A. And Joan, if you could read this please into the record.”
“We have Jay Glover on finance on Zoom call, and counselors if you need, and we have Dwayne Draper, he's the bond counsel. They're both on Zoom call if you have any questions for them.”
“Thank you for that. Mine was much shorter, but I appreciate it. Marcia, come on up. Thank you.”
“Very good. Gentlemen, did you want to weigh in, introduce yourself, or do you want me to open it up for questions for the counselors?”
“If I'll start for either one of you. Now, we have one, two, three, four, five, six, seven, about nine attachments here. We've had the opportunity as a council to review this. But as Councilor Dome said with the last conversation on our upcoming referendum, is this like a HELOC? Do you only take the money and use it when you need it? Can you put this in a little simple terms for the community so they can understand what we're doing here, refinance how it works, just maybe give them the highlights if that's possible?”
“Mr. OJ, I appreciate it and appreciate for the public watching, too, spelling out what type of refinance this is and how it seems like to me it has nothing but just good benefits. But I will turn it over to the counselors. Counselors, light signs.”
“All right. I don't see any other lights. I have a couple questions, and Councilor Gray covered one of mine and a few questions I wouldn't have thought to ask, so I appreciate the detailed analysis. Jay, a couple things. So we're still going to maintain our AA bond rating, correct, if I heard you correctly there?”
“Excellent. A couple things I picked up on your conversation. One, this is time sensitive due to market conditions, correct?”
“Great. I heard if I read what's in these nine attachments, I went through them, but I want to make sure I didn't miss this. About $200,000 was the total cost of the refinance. Did I get that right?”
“And then last question, keeping it simple for the citizens, do we have an estimated net savings amount for this whole refinance? What are the citizens going to end up saving if we go through with this?”
“Last question for you or staff. We approved this today. Market conditions move against us. Are we locked into this case here, or can we just simply not move forward with it? What is our judgment today, or what does our direction today commit us to?”
“Kind of knew the answer to that one. I want the citizens to hear it and the counselors to make sure they understood that as this has no downside risk to us and all upside reward. Counselors, any other light signs or questions?”
“A motion by Vice Chair Champagne, second by Counselor Schwan. Jim, anybody signed up for public comment?”