City Council - Budget and Finance Committee

City of Bellingham Finance and Personnel Committee Meeting Agenda 09/14/2015, 1:45 PM Mayor Kelli Linville Contact: (360) 778-8200, ccmail@cob.org Council Members Pinky Vargas, Chair www.cob.org/council Michael Lilliquist, Daniel Hammill All meetings are held in the City Hall Council Chambers at 210 Lottie Street, Bellingham, WA, unless otherwise noted. Call to Order Roll Call Council Standing Committee Meetings: Open to the public to attend. Note: there is generally no public comment period for Committee sessions. Standing Committee Members receive reports and information, ask questions and, when appropriate, vote on a recommended action for consideration by the full Council at the Regular Meeting. Committee Chairs give a report of the Committee Meeting at the Regular Meeting in the evening prior to deliberation and formal vote in the order shown below: Finance and Personnel Pinky Vargas Chair Michael Lilliquist; Daniel Hammill 20963 1. An Ordinance Amending the 2015/2016 Adopted Budget p. 1 Increasing Revenue in the Street Fund by $4,000,000 as a Result of $3,500,000 Proceeds from an Intergovernmental Loan and Award of a $500,000 Grant and Appropriating Related Expenditures in the Street Fund AN ORDINANCE AMENDING THE 2015 / 2016 ADOPTED BUDGET INCREASING REVENUE IN THE STREET FUND BY $4,000,000 AS A RESULT OF $3,500,000 PROCEEDS FROM AN INTERGOVERNMENTAL LOAN AND AWARD OF A $500,000 GRANT; APPROPRIATING $4,000,000 FOR STREET LIGHTING SYSTEM IMPROVEMENTS, TRANSFERRING $295,000 FROM STREET FUND RESERVES TO THE GOVERNMENTAL DEBT SERVICES FUND AND APPROPRIATING TRANSFERRED FUNDS FOR DEBT SERVICE PAYMENTS 1  20964 2. An Ordinance Amending the 2015/2016 Budget Authorizing p. 5 an Interfund Loan of $1,350,000 from the Solid Waste Fund to the Watershed Fund AN ORDINANCE AUTHORIZING AN INTERFUND LOAN OF $1,350,000 FROM THE SOLID WASTE FUND TO THE WATER FUND AND AMENDING THE 2015 / 2016 ADOPTED BUDGET IN THE WATER FUND BY APPROPRIATING $1,350,000 IN THE WATER FUND FOR PRINCIPAL REPAYMENT 20965 3. An Ordinance Approving the Advance Refunding of the p. 10 Outstanding 2006 Water & Sewer Bonds AN ORDINANCE OF THE CITY OF BELLINGHAM, WASHINGTON, AUTHORIZING THE ISSUANCE OF A WATER AND SEWER REVENUE REFUNDING BOND OF THE CITY IN THE PRINCIPAL AMOUNT OF NOT TO EXCEED $4,200,000 TO REFUND OUTSTANDING WATER AND SEWER REVENUE BONDS, MAKE A DEPOSIT TO THE RESERVE ACCOUNT (IF REQUIRED), AND PAY COSTS OF ISSUANCE; DELEGATING AUTHORITY TO APPROVE THE SALE AND FINAL TERMS OF THE BOND; AND RESERVING THE RIGHT TO ISSUE REVENUE REFUNDING BONDS ON A PARITY WITH THE BOND UPON COMPLIANCE WITH CERTAIN CONDITIONS Adjournment Agenda Information: Council Committee and Regular Meeting agendas and agendas packets, which contain the supporting documentation for agenda items, are available to the public Wednesday afternoon prior to the meeting. They are posted at www.cob.org/meetings. Meetings are streamed live on the internet as they occur. Accessibility: The Council Chambers is fully accessible. Elevator access to the second floor is available at City Hall’s west entrance. Hearing assistance is available and a receiver may be checked out through the clerk prior to the evening session. For additional accommodations, persons are asked to contact the Legislative Assistant at 778-8200 in advance of the meeting. Thank you. 2  Next City Council Meeting 09/28/2015 Deadline to submit material for the public hearing for inclusion in the published agenda packet is 10:00 a.m. on Wednesday prior to the meeting. 3