The Finance Committee will meet with the Audit Committee Monday, February 29, 2016 at 6:00 PM in the Council Conference Room of Lakewood City Hall, 12650 Detroit Avenue, Lakewood, Ohio. The following items will be discussed.
Review of the City’s strategy for issuing debt from the City’s bond counsel and bank
ORDINANCE NO. 5-16 – authorizing the issuance of not to exceed $18,000,000 of bonds for the purpose of currently refunding notes issued for the purpose of (i) (a) the city’s west end sewer separation project, together with all necessary appurtenances thereto, (b) resurfacing various streets in the city, (c) improving parks within the city, including Lakewood Park, Wagar Park and the Lakewood Park state house, together with all necessary appurtenances thereto, (d) improving sidewalks within the city and (e) replacing or improving the roofs of city hall, city hall annex, Winterhurst ice rink and the city’s service garage and (ii) retiring the city’s various purpose improvement notes, series 2014, which were issued to pay costs of (a) improving Madison avenue by providing new traffic signalization; (b) improving and renovating the refuse facility; (c) replacing the roof on city hall; (d) resurfacing various streets in the city; (e) improving Detroit Avenue, Franklin Street, Hilliard Street and Madison Avenue by providing new and upgraded traffic signalization and pedestrian signals; (f) improving the municipal garage ventilation system; (g) improving parks within the city, including Lakewood Park, Wagar park and the Lakewood Park skate house, together with all necessary appurtenances thereto; (viii) reconstructing Madison avenue; (h) constructing a sheet pile bulkhead, docks and a parking area, together with all necessary appurtenances thereto; (i) improving sidewalks within the city, (j) replacing a salt storage facility and (k) improving the sewer system in the city by constructing the west end sewer separation project and a new sanitary sewer and improvements and renovations to the existing sanitary sewers and storm water sewers along Edgewater drive, together with all necessary appurtenances thereto; approving related matters in connection with the issuance of the bonds; and declaring an emergency. (1st Reading & Referred to Finance Committee 2/1/16, 2nd reading 2/16/16)
ORDINANCE NO. 6-16 – authorizing the issuance of not to exceed $26,500,000 of bonds for the purpose of currently refunding the city’s Rockport Square improvement general obligation bonds, series 2004 (limited tax obligation) (taxable), dated August 11, 2004; various purpose general obligation bonds, series 2005, dated May 26, 2005; sewer system revenue bonds, series 2006, dated August 30, 2006 and watersystem revenue bonds, series 2006, dated August 30, 2006; approving related matters in connection with the issuance of the bonds; and declaring an emergency. (1st Reading & Referred to Finance Committee 2/1/16, 2nd reading 2/16/16)
ORDINANCE NO. 7-16 – authorizing the issuance of notes in the amount of not to exceed $4,845,000 in anticipation of the issuance of bonds; to pay costs of designing, engineering and constructing sewer improvements, together with all necessary appurtenances thereto; and declaring an emergency. (placed on 1st reading & referred to the Finance Committee 2/1/16, placed on 2nd reading 2/16/16)
ORDINANCE NO. 8-16 – authorizing the issuance of notes in the amount of not to exceed $1,640,000 in anticipation of the issuance of bonds; to pay costs of designing, engineering and constructing water improvements, together with all necessary appurtenances thereto; and declaring an emergency. (placed on 1st reading & referred to the Finance Committee 2/1/16, placed on 2nd reading 2/16/16)
ORDINANCE NO. 9-16 – authorizing the issuance of notes in the amount of not to exceed $1,500,000 in anticipation of the issuance of bonds; to pay costs of improving Andrews Avenue, Athens Avenue, Chesterland Avenue, Concord Drive, Delaware Avenue, Erie Cliff Drive, Hall Avenue, Lake Point Drive, Leedale Avenue, Leonard Avenue, Mars Avenue, Mckinley Avenue, Northwood Avenue, Richland Avenue, Shaw Avenue and West 117th Street, and other streets located within the city, between certain termini, by resurfacing and replacing concrete, together with all necessary appurtenances thereto; and declaring an emergency. (placed on 1st reading & referred to the Finance Committee 2/1/16, placed on 2nd reading 2/16/16)
ORDINANCE NO. 10-16 – authorizing the issuance of notes in the amount of not to exceed $750,000 in anticipation of the issuance of bonds; to pay the costs of improving parks within the city, including Kids Cove playground, together with all necessary appurtenances thereto; and declaring an emergency. (placed on 1st reading & referred to the Finance Committee 2/1/16, placed on 2nd reading 2/16/16)
ORDINANCE NO. 11-16 – authorizing the issuance of notes in the amount of not to exceed $650,000 in anticipation of the issuance of bonds; to pay costs of improving sidewalks within the city; and declaring an emergency. (placed on 1st reading & referred to the Finance Committee 2/1/16, placed on 2nd reading 2/16/16)
ORDINANCE 12-16 – authorizing the issuance of notes in the amount of not to exceed $355,000 in anticipation of the issuance of bonds; to pay costs of improving Franklin Avenue and Hilliard Road, between certain termini, by providing new traffic signalization, together with all necessary; and declaring an emergency. (placed on 1st reading & referred to the Finance Committee 2/1/16, placed on 2nd reading 2/16/16)
ORDINANCE 13-16 – authorizing the issuance of notes in the amount of not to exceed $200,000 in anticipation of the issuance of bonds; to pay the costs of replacing or improving roofs of the fire station and Winterhurst ice rink, together with all necessary appurtenances thereto; and declaring an emergency. (placed on 1st reading & referred to the Finance Committee 2/1/16, placed on 2nd reading 2/16/16)
ORDINANCE 14-16 – authorizing the issuance of notes in the amount of not to exceed $704,000 in anticipation of the issuance of bonds; to pay costs of providing, constructing and installing a revetment on the northerly property line of the meridian condominium to protect the meridian condominium’s westerly property line with Lake Erie, eastward to the intersection of meridian condominium’s easterly property line with Lake Erie; and declaring an emergency. (placed on 1st reading & referred to the Finance Committee 2/1/16, placed on 2nd reading 2/16/16)
ORDINANCE NO. 19-16 – authorizing the Director of Finance to enter into Equipment Leases in forms approved by the Director of Law on behalf of the City of Lakewood (“City”). (Placed on 1st reading and referred to Finance Committee 2/16/16)
ORDINANCE NO. 20-16 – AN ORDINANCE to take effect immediately provided it receives the affirmative vote of at least five members of Council, or otherwise to take effect and be in force after the earliest period allowed by law, authorizing the transfer and advance of certain funds. (Placed on 1st reading and referred to Finance Committee 2/16/16)
Thomas R. Bullock, Chair
Ryan Nowlin, Dan O’Malley; Members
FINANCE COMMITTEE
