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Motion by Mr. Bullock, seconded by Mr. Rader to substitute Ordinance 49-19 with the version presented in Finance Committee. He explained the nature of the substitute and reported that the Finance Committee recommended adoption of the substitute. Mr. Bullock also explained that Ordinance 58-19 was recommended for adoption pending the insertion of information from the Finance Department. Acting Director Schuster confirmed that it is acceptable to wait until the Feb. 3rd meeting for passage of Ord. 58-19. A role call vote was taken as follows: Yeas: Bullock, Litten, Neff, O'Malley, Rader, Shachner Nays: none Motion passed. Ordinance 49-19 substituted. Motion by President O'Malley, seconded by Mr. Litten to adopt Ordinance 49-19 as substituted. Mr. Bullock provided the following oral report from the Finance Committee: We had a 90-minute productive Finance Committee Meeting immediately prior to tonight's General Meeting. We heard from the City's financial advisor at Key Bank, .Teff Rink and our bond counsel at Bricker & Eckler, as we do annually; as well as the Mayor and our Acting Finance Director. Ordinance 49-19 and the following set of ordinances would position the City's debt and enable a series of capital projects called for in the 2020 budget (which we already approved during the budget process in December). Deliberation had to do with financial management. We had a satisfactory discussion of this. Committee members asked good questions and many of us came away with continued confidence in our financial strategy. Ord. 49-19 is to roll the last major portions from 2017-2019 once more into a one- year note that we anticipate next spring converting into long term bond debt. We anticipate that there will be favorable interest rates and a series of other debts will come into alignment and so we can get some economies of scale and only pay financial fees involved with issuing debt that one time. So,for those reasons, the Committee moved to recommend Ord. 49-19 for adoption with that substitute. A role call vote was taken as follows: Yeas: Bullock, Litten, Neff, O'Malley, Rader, Shachner Nays: none Motion passed. Ordinance 49-19 adopted as substituted. 10. ORDINANCE 50-19 - Authorizing the issuance of special obligation income tax revenue notes in the amount of not to exceed $1,500,000 in anticipation of the issuance of bonds; to pay costs of improving Lakewood Heights Boulevard, Riverside Drive, Bonnieview Avenue, Cannon Avenue, Mars Avenue, Victoria Avenue, St. Charles 5