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Home My WebLink About2009-07-20 - City Commission Workshop Meeting MinutesCITY OF TAMARAC CITY COMMISSION WORKSHOP MEETING CITY HALL - CONFERENCE ROOM 105 MONDAY JULY 20, 2009 CALL TO ORDER: Mayor Flansbaum-Talabisco called the workshop meeting to order at 9:30 a.m. in Room 105, Tamarac, City Hall, 7525 NW 88 Avenue, Tamarac, FL 33321. PRESENT: Mayor Beth Flansbaum-Talabisco, Vice Mayor Patricia Atkins -Grad, Commissioner Pamela Bushnell, Commissioner Diane Glasser, and Commissioner Harry Dressler. ALSO PRESENT: City Manager Jeffrey L. Miller, City Attorney Samuel S. Goren, Deputy City Manager/Interim Financial Services Director Michael C. Cernech, and City Clerk Marion Swenson. PLEDGE OF ALLEGIANCE: Mayor Flansbaum-Talabisco led the pledge of allegiance. 1. Item No. 6 (b) on the Consent Agenda. STORMWATER SYSTEM REFUNDING REVENUE BONDS, SERIES 2009: (TR11657) A resolution authorizing the issuance of not to exceed $6,000,000 Stormwater System Refunding Revenue Bonds, Series 2009 for the purpose of advance refunding a portion of the outstanding City of Tamarac, Florida Capital Improvement Revenue Bonds, Series 2004 and paying costs related thereto; pledging certain gross revenues of the stormwater system and providing a backup covenant to budget, appropriate and deposit non -ad valorem revenues for the payment of such bonds; providing for the rights of the holders of such bonds; providing for the issuance of temporary bond anticipation notes; making other covenants and agreements in connection therewith; and providing for an effective date. Deputy City Manager/interim Financial Services Director Cernech, Controller Cajuste, D.A. Davidson & Co. Senior Vice President & Regional Manager Jeff Larson, Duane Draper, Bond Counsel, and Alecia Ingram, Associate Bond Counsel appeared. Deputy City Manager/Interim Financial Services Director Cernech gave a presentation on Items 6(b) and 6(d). Vice Mayor Atkins -Grad likened the rates to those of adjustable mortgages. Commissioner Dressler questioned the underwriting commissions and fees, and Mr. Larson said the cost for issuance of the loan is approximately $75,000. The Bank's attorneys get $4,500 to review the documents, but there is no underwriting fee. Commissioner Dressler asked that in the future staff include the information both in dollars and percentages. Commissioner Dressler questioned the financial impact portion of the staff memo and questioned a cap. Deputy City Manager/Interim Financial Services Director Cemech and Mr. Larson explained the financial impact section presents the worst case scenario, and there is no cap. 2. Item No. 6 (d) on the Consent Agenda. SUPPLEMENTING STORMWATER SYSTEM REFUNDING REVENUE BONDS, SERIES 2009: (TR11662) A Resolution supplementing a resolution adopted on even date herewith authorizing the issuance of a not to exceed $6,000,000 Stormwater System Refunding Revenue Bond, Series 2009 for the purpose of advance refunding a portion of the outstanding City of Tamarac, Florida Capital Improvement Revenue Bonds, Series 2004 and paying costs related thereto, subject to the satisfaction of certain conditions contained herein and subject to the terms and conditions of a Purchase Contract ; fixing certain terms and details of such bond; authorizing the private negotiated sale of such bond to Bank of America, N.A., pursuant to the terms and conditions described herein; approving the form of and authorizing the execution of an Escrow Deposit Agreement; selecting a Paying Agent, Bond Registrar and Escrow Agent; making such determinations as are required to afford such bond "Bank Qualified" status; authorizing other required actions; and providing for severability and an effective date. 3. Item No. 6 (c) on the Consent Agenda. WATER & WASTE WAER-UTILITY SYSTEM REFUNDING REVENUE BONDS, SERIES 2009: (TR11658) A Resolution authorizing the issuance of not to exceed $6,000,000 Utility System Refunding Revenue Bonds, Series 2009A for the purpose of advance refunding a portion of the outstanding City of Tamarac, Florida Capital Improvement Revenue Bonds, Series 2004, funding necessary reserves, and paying costs related thereto, not to exceed $6,000,000 Utility System Refunding Revenue Bonds, Series 2009B for the purpose of currently refunding all of the outstanding city of Tamarac, Florida Capital Improvement Revenue Note, Series 2006, funding necessary reserves, and paying costs related thereto and not to exceed $6,000,000 Utility System Revenue Bonds, Series 2009C to finance the cost of improvements to the Utility System, funding necessary reserves, and pay costs related thereto; pledging certain net revenues of the Utility System for the payment of such bonds; providing for the rights of the holders of such bonds; providing for the issuance of temporary bond anticipation notes; making other covenants and agreements in connection therewith; and providing for an effective date. Deputy City Manager/Interim Financial Services Director Cernech, Controller Cajuste, D.A. Davidson & Co. Senior Vice President & Regional Manager Larson, Duane Draper, Bond Counsel, and Alecia Ingram, Associate Bond Counsel appeared. Deputy City Manager/Interim Financial Services Director Cernech gave a presentation on Items 6(c) and 6(e). Mr. Larson reviewed the underwriters and the time line, and recommended RBC Capital Markets, Stevens, and Luke Capital. Vice Mayor Atkins -Grad left the room at 10:17 a.m. and returned at 10:20 a.m. Commissioner Bushnell questioned marketing of the bonds via post cards and Mr. Larson explained in today's market individuals and institutional investors purchase bonds. Due to the economy, we have lost half the institutional investors in the United States and we are looking first to individual purchasers of the bonds. There was discussion regarding underwriters sending post cards to individuals for marketing of the bonds. Commissioner Dressler expressed concern regarding the appearance of the City advocating the bond sales. City Attorney Goren said there is disclaimer language included in the post cards. City Attorney Goren spoke of minor changes made to the escrow agreement of the Sales Tax Bonds by Mellon Bank. Mr. Draper recommended accepting the changes and City Attorney Goren added the risk is insignificant. Deputy City Manager/Interim Financial Services Director Cernech asked the Mayor and City Commission to submit any questions they may have about the bond items being presented to them on Wednesday so the questions could be answered before the meeting, as he did not intend to have Messrs. Larson and Draper and Ms. Ingram return for the meeting. 4. Item No. 6(e) on the Consent Agenda. SUPPLEMENTING UTILITY SYSTEM REFUNDING REVENUE BONDS, SERIES 2009A: (TR11663) A Resolution supplementing a resolution adopted on even date herewith authorizing the issuance of not to exceed $6,000,000 Utility System Refunding Revenue Bonds, Series 2009A for the purpose of advance refunding a portion of the outstanding City of Tamarac, Florida Capital Improvement Revenue Bonds, Series 2004, funding necessary reserves, and paying costs related thereto, not to exceed $6,000,000 Utility System Refunding Revenue Bonds, Series 2009B for the purpose of currently refunding all of the outstanding City of Tamarac, Florida Capital Improvement Revenue Note, Series 2006, funding necessary reserves, and paying costs related thereto and not to exceed $6,000,000 Utility System Revenue Bonds, Series 2009C to finance the cost of improvements to the Utility System, funding necessary reserves, and paying costs related thereto, subject to the satisfaction of certain conditions contained herein and subject to the terms and conditions of a Purchase Contract ; approving the form of the Purchase Contract, Preliminary Official Statement, Continuing Disclosure Certificate and Escrow Deposit Agreement; authorizing the execution and delivery of a Purchase Contract, Final Official Statement, Continuing Disclosure Certificate and Escrow Deposit Agreement; appointing a Paying Agent, Registrar and Escrow Agent; delegating to the Mayor and City Manager to award the sale of the bonds to the Underwriter named herein pursuant to a negotiated sale and subject to the conditions and terms set forth herein and in the Purchase Contract ; authorizing the City to opt to insure all, a portion of or none of the bonds with a policy of Financial Guaranty Insurance, whichever is in the best financial interest of the City; designating the series 2009 bonds as Qualified Tax -Exempt Obligations within the meaning of the Internal Revenue Code; authorizing other required actions; and providing for severability and an effective date. 5. Item No. 6 (f) on the Consent Agenda. GRANT AWARD FOR HYDRAULIC STRETCHERS: (TR11645) A Resolution of the City Commission of the City of Tamarac, Florida accepting an Emergency Medical Services grant in the amount of $42,055 from the Florida Department of Health, Bureau of Emergency Medical Services for hydraulic stretchers and to enter into an Agreement to purchase five (5) hydraulic stretchers from Stryker and associated patient lift -assist devices, not to exceed a total amount of $5"73 in grant funding and City match; authorizing the appropriate City Officials to- execute a Project Agreement and subsequent Agreements, if necessary, pending legal review and approval between the Florida Department of Health and the City of Tamarac; authorizing the disposal of five (5) outdated stretcher frames; providing for conflicts; providing for severability; and providing for an effective date. Interim Fire Chief Moral, Division Chief EMT Sheridan, and Purchasing/Contracts Manager Glatz appeared. Interim Fire Chief Moral and EMS Division Chief Sheridan gave a presentation. 3 City Attorney Goren left the room at 11:05 a.m. and returned at 11:07 a.m. Commissioner Dressler left the room at 11:05 a.m. and returned at 11:07 a.m. 6. Item No. 6 (g) on the Consent Agenda. FIRE ACT GRANT FOR A MOBILE SELF-CONTAINED BREATHING APARATUS (SCBA) REFILLING STATION AND SCBA BOTTLES: (TR11646) A Resolution of the City Commission of the City of Tamarac, Florida accepting an Assistance to Fire Act Grant, Federal Emergency Management Agency (FEMA) for a mobile Self -Contained Breathing Apparatus (SCBA) refilling station and SCBA bottles and to enter into an agreement from Channel Innovations Corporation and Hydro-Stat in grant funding and City match. Interim Fire Chief Moral, EMS Division Chief Sheridan, Special Projects Coordinator Gresek, and Purchasing/Contracts Manager Glatz appeared. Interim Fire Chief Moral and EMS Division Chief Sheridan gave a presentation. City Manager Miller commended Special Projects Coordinator Gresek on his work for the City. 7. Item No. 6 (1) on the Consent Agenda. TAMARAC FIRE RESCUE'S IDENTITY THEFT PREVENTION PROGRAM: (TR11661) Adopt Tamarac Fire Rescue's Identity Theft Prevention Program as required by the Fair Accurate Credit Transactions Act of 2003, and under the City's program for reducing identity theft. Interim Fire Chief Moral and EMS Division Chief Sheridan appeared. Interim Fire Chief Moral and EMS Division Chief Sheridan gave a presentation. 8. Item No. 6 (h) on the Consent Agenda. FDOT MAINTENANCE AGREEMENT SR7 (US 441): (TR11650) A Resolution of the City Commission of the City of Tamarac, Florida, authorizing the appropriate city officials to execute a District Four Maintenance Memorandum of Agreement between the State of Florida Department of Transportation (FDOT) and the City of Tamarac for right-of-way landscaping on State Road 7 (US 441) south of NW 49th Street to south of West Prospect Road; providing for conflicts; providing for severability; and providing for an effective date. Public Works Director Strain gave a presentation. There being no further business to come before the Mayor and City Commission. Mayor Flansbaum-Talabisco adjourned the workshop meeting at 11:20 a.m. Marion Swensonc CIVIC City Clerk - 4