Finance Committee Meeting The City of Lakewood, Ohio -

Finance Committee Meeting


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Finance Committee Meeting

January 19 @ 5:30 pm - 6:30 pm

The Finance Committee will meet on Tuesday January 19, 2021 at 5:30 p.m.

Under advisement of the Governor and Director of Health of Ohio, and pursuant to Ordinance 06-2020, adopted March 16, 2020, the Committee will meet remotely until further notice. The meeting may be viewed by the public via livestream on the City’s YouTube Channel at the following link:

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https://youtube.com/c/CityofLakewoodOhio

PUBLIC COMMENT PROTOCOL (Updated 9/20)

The public is invited to comment on agenda items. All public comment must be submitted through the eComment portal available HERE.

 Written Comments

  •       Written comments may be submitted in advance of the meeting or during the meeting using the eComment platform

Requests to Speak

  • The public is invited to participate in the remote online meeting by making a request to speak via the eComment platform. Requests to speak must be submitted by 3:00 p.m. the day of the meeting. Following your request, you will receive an email with the credentials to join the meeting. For the security of the meeting, please do not share this information.
  • A request to speak may be made after 3:00 p.m. by contacting the Chair directly.

The agenda is as follows:

Approval of the minutes of the Finance Committee held January 11, 2021.

ORDINANCE 40-2020 – Authorizing the issuance of special obligation income tax revenue notes in the amount of not to exceed $1,500,000 in anticipation of the issuance of bonds; to pay costs of improving Detroit Road, Hilliard Road and other streets located within the city, between certain termini, by resurfacing and replacing concrete, together with all necessary appurtenances thereto; providing for the pledge of revenues from the city’s 1.50% income tax to secure the payment of the principal of and interest on the notes in anticipation of bonds; and approving related matters; and declaring an emergency (Placed on 1st reading and referred to Finance 12/21/20; 2nd reading 1/4/21)

ORDINANCE 41-2020 – Authorizing the issuance of special obligation income tax revenue notes in the amount of not to exceed $250,000 in anticipation of the issuance of bonds; to pay costs of replacing or improving the roof of the public works garage and other public buildings, together with all necessary appurtenances thereto; providing for the pledge of revenues from the city’s 1.50% income tax to secure the payment of the principal of and interest on the notes in anticipation of bonds; and approving related matters; and declaring an emergency (Placed on 1st reading and referred to Finance 12/21/20; 2nd reading 1/4/21)

ORDINANCE 42-2020 – Authorizing the issuance of special obligation income tax revenue notes in the amount of not to exceed $4,000,000 in anticipation of the issuance of bonds; to pay costs of designing, engineering and constructing water improvements, together with all necessary appurtenances thereto; providing for the pledge of revenues from the city’s 1.50% income tax to secure the payment of the principal of and interest on the notes in anticipation of bonds; and approving related matters; and declaring an emergency (Placed on 1st reading and referred to Finance 12/21/20; 2nd reading 1/4/21)

ORDINANCE 43-2020 – Authorizing the issuance of special obligation income tax revenue notes in the amount of not to exceed $350,000 in anticipation of the issuance of bonds; to pay costs of improving sidewalks within the city; providing for the pledge of revenues from the city’s 1.50% income tax to secure the payment of the principal of and interest on the notes in anticipation of bonds; and approving related matters; and declaring an emergency (Placed on 1st reading and referred to Finance 12/21/20; 2nd reading 1/4/21)

ORDINANCE 44-2020 – Authorizing the issuance of special obligation income tax revenue notes in the amount of not to exceed $365,000 in anticipation of the issuance of bonds; to pay costs of improving heating, ventilation and air conditioning systems in various city facilities including the municipal utilities garage, wastewater treatment plant, women’s club pavilion and city hall; providing for the pledge of revenues from the city’s 1.50% income tax to secure the payment of the principal of and interest on the notes in anticipation of bonds; and approving related matters; and declaring an emergency (Placed on 1st reading and referred to Finance 12/21/20; 2nd reading 1/4/21)

ORDINANCE 45-2020 – Authorizing the issuance of not to exceed $6,250,000 of bonds for the purpose of currently refunding all or a portion of the city’s various purpose improvement and refunding bonds, series 2011, dated February 9, 2011 to (i) refund the city’s outstanding various purpose bonds, series 1998, (ii) retire the city’s outstanding various purpose notes, series 2010 and (iii) pay the costs of issuance; approving related matters in connection with the issuance of the bonds; and declaring an emergency (Placed on 1st reading and referred to Finance 12/21/20; 2nd reading 1/4/21)

ORDINANCE 46-2020 – Authorizing the issuance of special obligation income tax revenue notes in the amount of not to exceed $2,810,000 in anticipation of the issuance of bonds to pay costs of (i)  designing, engineering, permitting and constructing a new outfall, stone revetment and rehabilitating the existing sewers, together with all necessary appurtenances thereto, (ii) improving and reconstructing the city’s recycling facility, (iii) improving the city’s jail and (iv) improving sidewalks within the city; and retiring notes previously issued for such purpose; approving related matters providing for the pledge of revenues from the city’s 1.50% income tax to secure the payment of the principal of and interest on the notes in anticipation of bonds; and approving related matters; and declaring an emergency (Placed on 1st reading and referred to Finance 12/21/20; 2nd reading 1/4/21)

ORDINANCE 47-2020 – Authorizing the issuance of not to exceed $25,750,000 of bonds for the purpose of currently refunding notes issued for the purpose of (i)  designing, permitting, engineering and constructing sewer improvements, together with all necessary appurtenances thereto, (ii) designing, engineering, permitting and constructing improvements to the city’s existing digester mixers, heat exchangers and tanks, together with all necessary appurtenances thereto, (iii) designing, engineering and constructing water improvements, together with all necessary appurtenances thereto, (iv) improving lake avenue, riverside drive, Lakewood Heights Boulevard, Bonnieview Avenue, Cannon Avenue, Mars Avenue, Victoria Avenue, St. Charles Avenue and other streets located within the city, between certain termini, by resurfacing and replacing concrete, together with all necessary appurtenances thereto, (v) replacing or improving the roof of the city hall, public works garage and other public buildings, together with all necessary appurtenances thereto, (vi) improving parking lots within the city by resurfacing and replacing concrete, together with all necessary appurtenances thereto, (vii) replacing equipment and backstop for police firing range, together with all appurtenances thereto (viii) improving parks within the city, including Lakewood Park, Edwards Park and Wagar Park, together with all necessary appurtenances thereto and (ix) improving sidewalks within the city; approving related matters in connection with the issuance of the bonds; and declaring an emergency (Placed on 1st reading and referred to Finance 12/21/20; 2nd reading 1/4/21)

Tom Bullock, Chair
John Litten, Tess Neff; Members
FINANCE COMMITTEE

Details

Date:
January 19
Time:
5:30 pm - 6:30 pm