08/20/1996 Meeting Minutes - Laserfiche WebLink

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Council Minutes of 8/20/96 4) On tonight's agenda are Ordinances 96-125 through 96-139, which are ordinances to ~.,- enable the bond issue. Currently, we have $42,435,000 in notes. One of the notes, Ordinance 96-140 in the amount of $150,000, is for the rescue squad. This note is intended to be paid out of the Hotel/Motel Fund by the EMS fees. This note will be rolled over each year paying down $50,000 a year. Also, we are paying off $310,000 of the notes that we brought into this year and $30,000 of the new money that was borrowed this year for a total of $340,000. We are adding $1,075,000 to the bond issue in anticipation of the cost of issuance of that debt. This is probably more than will be needed. The major item of this cost will be the bond insurance. The total bond issue is $43,020,000. Mr. Nashar asked Mr. Burns to comment on what the bond rating might be. Mr. Burns said that we are going to New York with an Al rating, and we have a good chance of maintaining that rating. He is sure the debt will be an investment grade. Mr. McKay reported that a newly formed organization has been formed to serve the city. Blanketing Our City with Prayer is an organization with the purpose of praying for residents, businesses and government. The primary goal of the organization is to give every person, family and home in North Olmsted the opportunity to receive prayer. The second goal is to see those who love God united around Jesus as they work together to fulfill their primary goal. Prayer request forms will be distributed at Homecoming, at local businesses and will be distributed door-to-door within the city. Mr. Nashar, Chairperson of the Public Safety, Health and Welfare Committee: 1) The Safety Committee met this evening to discuss a liquor permit transfer for the Bombay Express Incorporated. Present were Council Members Limpert, O'Grady, Lind and Nashar and Safety Director Kasler. The committee had no objection to the transfer. Mr. Nashar moved to accept the liquor permit transfer from Bombay Express, Inc., 26703 Brookpark Road Ext. to Kashmir Palace, 26703 Brookpark Road Ext. The motion was seconded by Mr. Limpert and unanimously approved. Mr. Limpert requested that the administration look into the idea of a police bicycle patrol. He understands that there are grants available for such projects--Allstate Insurance is one company that does give grants for training and equipment. He has spoken to various communities that have bicycle patrols and feels a bicycle patrol could help safeguard the neighborhoods. Mayor Boyle said that the administration would look into the matter. AUDIENCE PARTICIPATION Kathy Troyer, 28800 Berkshire Drive, expressed concern because the engineering on the Forest Ridge storm sewers was taking longer than expected. The original estimate for this portion of the project had been 12 weeks, and 26 weeks have now passed. Mrs. Troyer wondered how the completion date of December for the entire project could be met if the first phase is so far behind. She has attempted to speed the process herself by contacting residents who were tardy in providing measurements. Mr. Limpert stated that he and the Service Director had discussed the situation several times and asked Mr. Bohlmann for an update on the project. Service Director Bohlmann said that one hold-up on the project 5