05/06/1998 Meeting Minutes - Laserfiche WebLink

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Council Minutes of 5/6/98 Mr. Limpert noted that the notes do contain new wording and asked the Finance Director to comment. Mrs. Copfer said the words were changed to include "aggregate maximum" of borrowing so that it will allow us to borrow based on the contract of the bid price rather than an estimate which could be much higher than the bid. Additionally, by law, the funds can only be spent on the projects and any excess funds are required to be paid down on the note. Mr. Lambert said he was concerned about surplus borrowing. Mr. Limpert replied that the whole point of the new wording is that there will not be surplus borrowing. Mrs. Copfer again noted that should there be a surplus, the law stipulates those funds must be used to pay down the note. We are required to do this. Mr. O'Grady noted that the decision to combine the two projects was based on the question of whether it was the prudent thing to do. Based on the answers from bond counsel and the Law Director, it was determined that it was prudent. It would put the city in a bad light to borrow a small amount for aproject--that is why the decision was made not to borrow the $40,000 for the fire station roof. Also, he does not believe we should take on the added expense, even a small amount, for separating the projects into two notes. Susan Morrow, 6195 Stafford Drive, who attended the previous Council meeting also, distributed a letter to Council concerning flooding in the Bretton Ridge development. She said that no one had contacted her since the previous Council meeting. Mr. O'Grady thanked Mrs. Murrow for the letter and told her that the city is moving forward on this issue. One thing that has occurred was the cleaning out and cutting down of some trees in a ditch that is used to drain the water in that area. Mrs. Morrow said she had not been informed of this action. Mr. Nashar said he has been in contact with Mr. Bohlmann about this issue, but before he got back to her, he wanted to have concrete information. Mr. Bohlmann has informed him that this project will be taken care of this year, but he does not yet have a definite date. Mr. Miller noted that he did send Mrs. Morrow a note regarding this issue, and he encourages her and her neighbors to keep the city informed of flooding problems for tracking purposes. Sandy Prioletti, 6115 Christman Drive, also lives in the Bretton Ridge development and her back yard is a duck pond. She would really appreciate that some action be taken. Yvonne Petrigac, 26653 Sweetbriar Drive, is president of the Community Council and spoke about lighting for North Olmsted Park. In 1992, the Community Council promised to donate $10,000 for the project, and the city does have about $5,700 of the amount. Last year, it was not possible to get the underground wiring accomplished. Earlier this year, she sent a letter to the administration asking that the project be put into the budget. The sum discussed was $100,000, and she believes that is high. She has recently heard that the project is not in the budget and will not be accomplished this year. Community Council would like a copy of the cost figures that the Mayor reported he gave to Council today. She asked what Community Council could do to help get this project going. This project is more than the wiring that goes down the midway, it is also a safety issue since there are greater demands on the electricity during Homecoming. Mr. O'Grady said the Finance Committee came in looking at or anticipating a cost of $50,000 with an expectation of a contribution from Community Council of slightly more than half of that 7