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Lakewood, leading to a final score of 2.55.Normally this figure would have led to a lower credit rating, however Moody's looks behind just the 12 statistics that compose the scorecard, and considers things such as the city's many stable institutions, stable budgeting over time, etc. Moody's does their assessments of each city in the fall annually, sometimes visiting the city and other times gathering information over the phone. Mayor George raised concerns regarding the city receiving a B-grade in the category of debt/pension liability. Mr. Rink explained that all cities in Ohio receive the same grade due to the singular pension system for municipal employees statewide. Councilmember Rader sought insight into how leadership of a city can quickly ruin its credit rating. Mr. Rink indicated that having an unbalanced budget and having multiple years where reserves were used to plug gaps in the budget due to the presence of more expenditures than revenues. The committee and the city's bond counsel then reviewed items 1-10 on the Finance meeting notice and the various projects that were associated with each debt. Councilmembers again surmised about the timing of projects and whether that$5.5 million was enough for new projects. Mayor George cautioned Council about upcoming significant financial commitments that the city has, such as the Cove Church project and the environmental issues found at the former Lakewood Hospital site. She noted that the $4.7 million in the city's land acquisition fund will not cover the cost of the Cove Church project, as its cost has doubled since last year. Her administration is in the process of meeting with Lakewood's state level representatives to attract funding to the project. Acting Director Schuster also noted the benefits of making steady improvements over time via a capital plan that has been and is currently in place, and its positive effect on maintenance schedules. Members of the committee briefly discussed street repair schedules, obstacles preventing the demolition of the Vista bridge, and the decision to lease public safety vehicles instead of purchasing them. Minor changes to Ordinances 49-19 and 50-19 were reviewed as well. Chairman Bullock made a motion to substitute Ordinance 49-19 as drafted, which was seconded by Councilmember Litten. All members voted in favor. Motion passed. Chairman Bullock made a motion to recommend Ordinance 49-19 as substituted for passage by full Council,which was seconded by Councilmember Litten. All members voted in favor. Motion passed. Chairman Bullock made a motion to substitute Ordinance 50-19 as drafted, which was seconded by Councilmember Neff. All members voted in favor. Motion passed. Chairman Bullock made a motion to recommend Ordinance 50-19 as substituted for passage by full Council,which was seconded by Councilmember Neff. All members voted in favor. Motion passed. Chairman Bullock made a motion to recommend Ordinances 51-19 through 57-19 for adoption by full Council,which was seconded by Councilmember Litten. All members voted in favor. Motion passed. Chairman Bullock made a motion to recommend adoption of Ordinance 58-19 pending an amendment on the floor that we anticipate from the Acting Finance Director, which was seconded by Councilmember Litten. All members voted in favor. Motion passed. The meeting was adjourned at 7:27 p.m.