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City Council Packet - 10/16/1989 CITY OF TIGARD, OREGON COUNCIL AGENDA ITEM SLDOMY AGENDA OF: September 25, 1989 DATE SUBMITTED: September 13, 1989 ISSUE/AGENDA TITLE: Authorization PREVIOUS ACTION: of Interfund Loans _ N/A PREPARED BY: _Wayne Lowry, Fin. Dir. DEPT HEAD O CITY ADMIN 6W REQUESTED BY: Wayne Lawry, Fin. Dir. POLICY ISSUE Shall the City Council authorize certain interfund loans between the LID Cip Fund, Streets SDC Fund, and the Sewer Fund to meet short term cash needs in anticipation of the issuance of debt. INFORMATION SUMMARY ORS 294.460 gives the City Council the authority to approve loans between city furxis. Such loans must be repaid by the end of the next fiscal year. This authority allows the city council to borrow among the funds in its control to meet short term needs without incurring traditional financing costs. This resolution is intended to bring all existing interfund borrowings into coupliance with state regulations. In addition, this resolution is intended to set up a short term loan arrangement for the 135th Street LSD closure. The bond anticipation notes issued in June 1988 are due on October 1, 1989, however Bancroft Bond proceeds from which the notes were to be repaid will not be available until December 20, 1989. Following is a sLmunary of the loans described above: EFFECTIVE LOAN ESTIMATED PROJECT DATE AMOUNT REPAYNENT DATE FUND Dartmouth LID 10/1/89 350,000 3/1/90 Streets SDC 68th Parkway 10/1/89 67,000 12/20/89 Sewer Hall/Burnham 10/1/89 60,000 12/20/89 Sewer 135th LID 10/1/89 670,000 12/20/89 Sewer TOTAL 1,147,000 The Streets SDC Fund and the Sewer Fund currently have cash available in amounts necessary to fund the above loans. Note that $797,000 will be repaid on December 20, 1989 when proceeds from Bancroft Bonds are scheduled to be received. The remaining $350,000 will be repaid when bond anticipation notes are issued for Dartmouth LID (projected to be by March 1, 1990). C ALTERNATIVES CONSIDERED 1. Authorize interfund loans pending permanent financing 2. Issue traditional interim financing (only $700,000 available in 1989) FISCAL IMPACT 1. o Streets SDC & Sewer Funds - no impact as interest will be earned on loaned funds. o LID-CTP Fund - provides necessary cash to meet October 1, 1989 bond anticipation note maturity date. 2. o Incurs approximately $5,000 in debt issuance costs. o Does not provide cash necessary to meet maturing obligation. SUGGESTED ACTION Staff reconmends the approval of the interfund loans. t i 3.a F CITY OF TIC", OREIMN COUNCIL AGENDA ITEM SLA24ARY AGENDA OF: September 25, 1989 DATE SUBMITTED: September 13, 1989 ISSUE/AGENDA TITLE: Authorize - PREVIOUS ACTION: ment of City Recorder ,.L) PREPARED BY: Cathy Wheatley DEPT HEAD OK CITY ADMIlJ O REQUESTED BY: Pat Reilly PO CY ISSUE f F Council consideration of implementing organizational changes as recotmlended by the City Administrator. C~. INFORMATION SLD24ARY The City A&dnistrator has recmmvnded the appointment of Catherine Wheatley as the Tigard City, Recorder to reflect current staff utilization. Council consensus, during a previous Executive Session discussion, was in favor of the proposed appointment. The recmvwnded effective date for record keeping purposes is August 1, 1989. ALTERNATIVES CONSIDERED r 1. Adopt the proposed resolution. 2. Adopt the proposed resolution with amendments. 3. Decline action at this time. FISCAL IMPACT Recommendation for salary range of this position will be submitted upon c' completion of the Classification Study. t SUGGESTED ACTION Adopt the proposed resolution. cw.rcrdrres t z p€, r I OATH OF OFFICE State of Oregon ) City of Tigard ) I, Catherine Wbeatley, do solemnly swear that I will uphold and support the Constitution and laws of the United States of America and the State of Oregon and the Charter and ordinances of the City of Tigard. I will faithfully, honestly, and impartially discharge the duties of office of City Reccwder during my continuance therein to the best of my ability, so help me God. I further affirm that I am not now, nor have I ever been at any time, a member of any organization advocating the overthrow of the United States Government. T; Catherine Wheatley AZ`=* . Gerald R. , Mayor Set*Amber 25, 1989 Date cw.recoath i E CITY OF TIGARD, OREGON COUNCIL AGENDA ITEM SUMMARY LOCAL CONTRACT REVIEW BOARD AGENDA OF: September 25, 1989 DATE SUBMITTED: 9-13-89 ISSUE/AGENDA TITLE: Award of SW PREVIOUS ACTION: 104th Hillview Storm Draina e Improvement P ect PREPARED BY: Greg N. Berry DEPT HEAD O ITY ADMIN OR REQUESTED BY: sasaaaaaaassa assxsssassasvs = sxssaassassasscaz sscxcssacoosasass=a=ssscass • POLICY ISSUE l Award of construction contract for SW 104th/Hillview Storm Drainage Improvement Project. xxaaaxasssassaasssasssasssassssaasssaaescssccsecssscroasssaaassssssssssaxssaaaas INFORMATION SUMMARY; This project will install a storm sewer from SW 104th & McDonald Street to a recently constructed storm sewer in SW Hillview Street. t Three bids were received as 1011OWS: Les Brown Excavating Inc., Gresham, OR $ 57,375.82 John Arnold Co., Oregon City, OR. $ 60,060.00 C Benge Construction, Lake Oswego, OR. $ 61,557.72 E } Engineers Estimate $ 55,000.00. t The bids are within the project budget. s asxassssaaaxasssssaaass-----^._-------- 2.LTERNATIVES CONSIDERED 1. Award the contract to the lowest responsible bidder. i 2. Reject all bids. t FISCAL IMPACT i The project is funded by the Storm Drainage Capital Projects fund. massaaaaaaaxaxaxassssaaaaaxxaasaxsssssssssssasssssss =saasssassssssasaaxasaaaaxx l SUGGESTED ACTION Award the contract to Les Brown Excavating Inc. dj/SS-SDIMP.GB CITY OF TIGARD, OREGON ` COUNCIL AGENDA ITEM SUMMARY AGENDA OF: September 25, 1989 DATE SUBMITTED: September 13, 1989 ISSUE/AGENDA TITLE: Call For PREVIOUS ACTION: Election on City Center Develo e t Plan PREPARED BY: Elizabeth Ann Newton DEPT HEAD CITY ADMIN OK REQUESTED BY: POLICY ISSUE Shall the Council call for an election on the City Center Development Plan and Funding? INFORMATION SUMMARY As outlined in the attached resolution calling for a November election, the current City charter requires approval by the voters prior to the activation or implementation of tax increment financing as a method of funding activities set forth in the City Center Development Plan. ALTERNATIVES CONSIDERED 1. Approve the attached resolution calling for an election on the November ballot. 2. Revise the resolution. 3. Postpone setting the election to a later date. FISCAL IMPACT The possible impact of tax increment financing on the composite tax rate and affected taxing jurisdictions is outlined in the City Center Development Report. SUGGESTED ACTION Adopt the attached resolution calling for a vote on the City Center Development Plan and funding methods on the November ballot. br/SumSht.mst