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~`"„_ <br />~.:. <br /> <br />MINUTES OF THE SPECIAL MEETING OF THE COUNCIL <br />OF THE CITY OF NORTH OLMSTED <br />FEBRUARY 9, 2010 <br />Present: President of Council Kennedy, Council Members Barker, Brossard, <br />Gareau, Dailey Jones, Kearney, Orlowski. <br />Also Present: Mayor Kennedy, Law Director Gareau, Finance Director Copfer, Clerk of <br />Council Gallo. <br />President Limpert called the meeting to order at 7:30 p.m. in Council Chambers, 5200 <br />Dover Center Road, North Olmsted, Ohio. <br />Members of the audience were invited to join Council in the recitation of the Pledge of <br />Allegiance. <br />REPORTS <br />Councilman Barker, Chairman of the Finance Committee: <br />The Finance Committee met February 9, 2010 at 7:00 p.m. Present were Council <br />committee members Barker, Kearney and Jones; Council President Limpert; members of <br />Council; Mayor Kennedy; Law Director Gareau and Finance Director Copfer. <br />• They met to discuss Ordinances 2010-15, 2010-16, and 2010-17. These are <br />Ordinances providing for the issuance and sale of Notes that are maturing April 1. <br />This current legislation is to fund those; to pay those off. They will be looking for <br />Bonds. The Notes that they're borrowing now will be due September 30. After a <br />brief discussion on the three Ordinances on borrowing on streets that have already <br />been done in the past three years, a motion was made to recommend approval by <br />Councilman Barker. The motion was seconded by Councilwoman Jones, and the <br />vote was 3-0 to recommend approval. <br />• 2010-18 is for streets being done this year -issuance of the $1,015,000 in Notes. <br />After a short discussion, a motion was made to recommend approval by <br />Councilman Barker. The motion was seconded by Councilman Kearney, and the <br />vote was 3-0 to recommend approval. <br />2010-19 is $320,000 Notes for a Sewer Jet Truck. It was discussed that they may <br />go to a capital lease program on this depending on rates when the Finance <br />Director discusses that. After a brief discussion on the truck, a motion was made <br />by Councilman Barker to recommend approval of 2010-19. The motion was <br />seconded by Councilman Kearney, and the vote was 3-0 to recommend approval. <br />The meeting was adjourned at 7:18 p.m. <br />