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).
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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.
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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
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Council consideration of implementing organizational changes as recotmlended by
the City Administrator.
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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
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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.
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SUGGESTED ACTION
Adopt the proposed resolution.
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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.
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Catherine Wheatley
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Gerald R. , Mayor
Set*Amber 25, 1989
Date
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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:
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POLICY ISSUE
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Award of construction contract for SW 104th/Hillview Storm Drainage
Improvement Project.
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INFORMATION SUMMARY;
This project will install a storm sewer from SW 104th & McDonald Street to a
recently constructed storm sewer in SW Hillview Street.
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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
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} Engineers Estimate $ 55,000.00.
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The bids are within the project budget. s
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2.LTERNATIVES CONSIDERED
1. Award the contract to the lowest responsible bidder. i
2. Reject all bids.
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FISCAL IMPACT i
The project is funded by the Storm Drainage Capital Projects fund.
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SUGGESTED ACTION
Award the contract to Les Brown Excavating Inc.
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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.
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