Finance Committee

900 Quay Street City of Manitowoc Manitowoc, WI 54220 www.manitowoc.org Meeting Minutes Finance Committee Tuesday, February 2, 2021 5:30 PM Council Chambers Note-Meeting will also be available via Remote Conferencing 1. Call to Order 2. Roll Call Present: 4- Brey, McMeans, Sitkiewitz and Schlei Absent: 1- Brunner 3. Public Comment No public comment at this meeting. 4. Presentations 21-0085 Refunding Bond Presentation from Baird, recommend to accept and place on file. Attachments: Refunding Bond Presentation from Baird.pdf Moved by Sitkiewitz, seconded by McMeans, that this Presentation be accepted and place on file. The motion carried by the following vote: Aye: 4- Brey, McMeans, Sitkiewitz and Schlei 5. Consent Agenda These items will be approved by one motion unless any Committee Member wishes to remove an item for discussion. REMOVAL OF CONSENT AGENDA ITEMS: Any Committee Member may request removal of any item from the Consent Agenda, and such item shall be removed without debate or vote. Any item or part thereof removed from the Consent Agenda shall be separately considered. Approval of the Consent Agenda Approval of the Consent Agenda Moved by McMeans, seconded by Sitkiewitz, to accept the Consent Agenda Items and recommendations of the various committees The motion carried by the following vote: City of Manitowoc Page 1 Finance Committee Meeting Minutes February 2, 2021 Aye: 4- Brey, McMeans, Sitkiewitz and Schlei 21-0083 Minutes of January 5, 2021 Finance Committee meeting, recommending approval and place on file. Attachments: Minutes 1-5-21.pdf 21-0084 Various minutes of the MPU Commission, recommending acceptance and place on file Attachments: MPU Minutes 10-12-20.pdf MPU Minutes 11-9-20.pdf MPU Minutes 11-23-20.pdf 6. Discussion and Action Items 21-0118 Resolution Authorizing the Issuance and Establishing Parameters for the Sale of Not to Exceed $2,700,000 General obligation Refunding Bonds Attachments: Manitowoc C of - 2021 GORBs - Parameters Resolution.pdf Moved by McMeans, seconded by Sitkiewitz, that this Resolution be accepted. The motion carried by the following vote: Aye: 4- Brey, McMeans, Sitkiewitz and Schlei 21-0119 Scope of Engagement relative to the Proposed Issuance of $2,700,000 City of Manitowoc General Obligation Refunding Bonds Attachments: City of Manitowoc - GORBs - Scope of Engagement.pdf Moved by McMeans, seconded by Schlei, that this Request be accepted. The motion carried by the following vote: Aye: 4- Brey, McMeans, Sitkiewitz and Schlei 21-0117 Resolution Authorizing the Issuance and Establishing Parameters for the Sale of Not to Exceed $2,600,000 Taxable General Obligation Promissory Notes Attachments: Manitowoc C of - 2021 Taxable GOPNs - Parameters Resolution.pdf Moved by McMeans, seconded by Schlei, that this Resolution be accepted. The motion carried by the following vote: Aye: 4- Brey, McMeans, Sitkiewitz and Schlei City of Manitowoc Page 2 Finance Committee Meeting Minutes February 2, 2021 21-0120 Scope of Engagement relative to the Proposed Issuance of $2,600,000 City of Manitowoc Taxable General Obligation Promissory Notes Attachments: City of Manitowoc - Taxable GOPNs - Scope of Engagement.pdf Moved by McMeans, seconded by Sitkiewitz, that this Request be accepted. The motion carried by the following vote: Aye: 4- Brey, McMeans, Sitkiewitz and Schlei 21-0086 Fiscal Agency Agreement for General Obligation Corporate Purpose Bonds, dated April 25, 2011, recommend to accept and Enter into Agreement. Attachments: General Obligation Corporate Purpose Bonds, 4-25-11.pdf Moved by McMeans, seconded by Sitkiewitz, that this Agreement be accepted. The motion carried by the following vote: Aye: 4- Brey, McMeans, Sitkiewitz and Schlei 21-0087 Fiscal Agency Agreement for Taxable General Obligation Refunding Bonds, Dated November 28, 2011, recommend to accept and Enter into Agreement. Attachments: Taxable General Obligation Refunding Bonds, 11-28-11.pdf Moved by McMeans, seconded by Sitkiewitz, that this Agreement be accepted. The motion carried by the following vote: Aye: 4- Brey, McMeans, Sitkiewitz and Schlei 21-0088 Fiscal Agency Agreement for General Obligation Promissory Notes, dated June 11, 2012, recommend to accept and Enter into Agreement. Attachments: General Obligation Promissory Notes, 6-11-2012.pdf Moved by McMeans, seconded by Sitkiewitz, that this Agreement be accepted. The motion carried by the following vote: Aye: 4- Brey, McMeans, Sitkiewitz and Schlei 21-0089 Fiscal Agency Agreement for General Obligation Promissory Notes, dated May 17, 2013, recommend to accept and Enter into Agreement. Attachments: General Obligation Promissory Notes, 5-17-13.pdf Moved by McMeans, seconded by Sitkiewitz, that this Agreement be accepted. The motion carried by the following vote: Aye: 4- Brey, McMeans, Sitkiewitz and Schlei City of Manitowoc Page 3 Finance Committee Meeting Minutes February 2, 2021 21-0090 Fiscal Agency Agreement for General Obligation Promissory Notes, dated March 24, 2014, recommend to accept and Enter into Agreement. Attachments: General Obligation Promissory Notes, 3-24-2014.pdf Moved by McMeans, seconded by Sitkiewitz, that this Agreement be accepted. The motion carried by the following vote: Aye: 4- Brey, McMeans, Sitkiewitz and Schlei 21-0091 Fiscal Agency Agreement for General Obligation Promissory Notes, dated April 6, 2015, recommend to accept and Enter into Agreement. Attachments: General Obligation Promissory Notes, 4-6-15.pdf Moved by McMeans, seconded by Sitkiewitz, that this Agreement be accepted. The motion carried by the following vote: Aye: 4- Brey, McMeans, Sitkiewitz and Schlei 21-0092 Fiscal Agency Agreement for General Obligation Refunding Bonds, dated December 21, 2015, recommend to accept and Enter into Agreement. Attachments: General Obligation Refunding Bonds, 12-21-2015.pdf Moved by McMeans, seconded by Sitkiewitz, that this Agreement be accepted. The motion carried by the following vote: Aye: 4- Brey, McMeans, Sitkiewitz and Schlei 21-0093 Fiscal Agency Agreement for General Obligation Promissory Notes, dated May 9, 2016, recommend to accept and Enter into Agreement. Attachments: General Obligation Promissory Notes, 5-9-2016.pdf Moved by McMeans, seconded by Sitkiewitz, that this Agreement be accepted. The motion carried by the following vote: Aye: 4- Brey, McMeans, Sitkiewitz and Schlei 21-0094 Fiscal Agency Agreement for General Obligation Promissory Notes, dated June 5, 2017, recommend to accept and Enter into Agreement. Attachments: General Obligation Promissory Notes, 6-5-17.pdf Moved by McMeans, seconded by Sitkiewitz, that this Agreement be accepted. The motion carried by the following vote: Aye: 4- Brey, McMeans, Sitkiewitz and Schlei City of Manitowoc Page 4 Finance Committee Meeting Minutes February 2, 2021 21-0095 Fiscal Agency Agreement for General Obligation Refunding Bonds, dated November 5, 2018, recommend to accept and Enter into Agreement. Attachments: General Obligation Refunding Bonds, 11-5-2018.pdf Moved by McMeans, seconded by Sitkiewitz, that this Agreement be accepted. The motion carried by the following vote: Aye: 4- Brey, McMeans, Sitkiewitz and Schlei 21-0097 Fiscal Agency Agreement for General Obligation Promissory Notes, dated September 9, 2019, recommend to accept and Enter into Agreement. Attachments: General Obligation Promissory Notes, 9-9-2019.pdf Moved by McMeans, seconded by Sitkiewitz, that this Agreement be accepted. The motion carried by the following vote: Aye: 4- Brey, McMeans, Sitkiewitz and Schlei 21-0098 Fiscal Agency Agreement for General Obligation Refunding Bonds, dated November 12, 2019, recommend to accept and Enter into Agreement. Attachments: General Obligation Refunding Bonds, 11-12-19.pdf Moved by McMeans, seconded by Sitkiewitz, that this Agreement be accepted. The motion carried by the following vote: Aye: 4- Brey, McMeans, Sitkiewitz and Schlei 21-0018 Request to approve structural assessment of River Lofts river walk Attachments: Memo to Finance Committee Regarding Structural Assessment .pdf Amended and Restated Easement Agreement w-Exhibit A.pdf Moved by Sitkiewitz, seconded by McMeans, that this Request be denied and referred to Council. The motion carried by the following vote: Aye: 3- McMeans, Sitkiewitz and Schlei Nay: 1- Brey 21-0115 Request to install Speed Display Board on Waldo Boulevard, recommend to accept request and not to exceed a cost of $750. Attachments: LTR Waldo Blvd - Fleetwood dr. - Michael Merrill Letter.pdf Michael Merrill - Speed Survey.pdf Moved by Sitkiewitz, seconded by McMeans, that this Request be accepted and not to exceed a cost of $750. The motion carried by the following vote: Aye: 4- Brey, McMeans, Sitkiewitz and Schlei City of Manitowoc Page 5 Finance Committee Meeting Minutes February 2, 2021 21-0047 Resolution Terminating TID District 10 and Authorizing Treasurer to Distribute Excess Increment to Overlaying Districts Attachments: Resolution Terminating TIF District No. 10 Moved by McMeans, seconded by Sitkiewitz, that this Resolution be accepted. The motion carried by the following vote: Aye: 4- Brey, McMeans, Sitkiewitz and Schlei 21-0048 Resolution Terminating TID District 12 and Authorizing Treasurer to Distribute Excess Increment to Overlaying Districts Attachments: Resolution Termination TIF District No. 12 Moved by McMeans, seconded by Sitkiewitz, that this Resolution be accepted. The motion carried by the following vote: Aye: 4- Brey, McMeans, Sitkiewitz and Schlei 21-0099 Amendment to Ordinance Section 11.100 of the Municipal Code to clarify license fee for Mobile Food Vendor License. Attachments: Ord 21-0099 sec 11.100.pdf Moved by McMeans, seconded by Sitkiewitz, that this Ordinance be accepted. The motion carried by the following vote: Aye: 4- Brey, McMeans, Sitkiewitz and Schlei 21-0100 4th Quarter Claims Report from City Attorney, recommend to accept the report and place on file. Attachments: Claims Report to Finance Committee Jan to Dec 2020.pdf Moved by McMeans, seconded by Sitkiewitz, that this Report be accepted and place on file. The motion carried by the following vote: Aye: 4- Brey, McMeans, Sitkiewitz and Schlei 21-0101 Lakeshore Community Foundation quarterly performance report, recommend to accept and place on file. Attachments: Q4 2020 VIAS Performance Report.pdf Moved by Sitkiewitz, seconded by Schlei, that this Report be accepted and place on file. The motion carried by the following vote: Aye: 4- Brey, McMeans, Sitkiewitz and Schlei City of Manitowoc Page 6 Finance Committee Meeting Minutes February 2, 2021 21-0102 Fund statement balances from Lakeshore Community Foundation for K-9 Preservation Fund and Eternal Flame and Veterans Memorial Fund, recommend to accept and place on file. Attachments: Q4 2020 - City of Manitowoc K-9 Preservation Fund.pdf Q4 2020 - Eternal Flame and Veterans Memorial Fund.pdf YTD 2020 - City of Manitowoc K-9 Preservation Fund.pdf YTD 2020 - Eternal Flame and Veterans Memorial Fund.pdf Payout Auth - City K9 Preservation Fund.pdf City of Manitowoc K-9 Preservation Fund - 12-2020.pdf LCF - At a Glance.pdf Moved by Sitkiewitz, seconded by McMeans, that this Report be accepted and place on file. The motion carried by the following vote: Aye: 4- Brey, McMeans, Sitkiewitz and Schlei 21-0103 2021 Budget Amendment to include $135,000 to the contingency and offsetting the Fund Balance Applied Attachments: 2020 Tax LEVY FINAL to Council AMENDED.pdf 2021 Budget Amend for City of Manitowoc ERP.pdf budget amended amount.pdf Staff Email Communication.pdf Moved by Schlei, seconded by Sitkiewitz, that this Action Item be accepted. The motion carried by the following vote: Aye: 4- Brey, McMeans, Sitkiewitz and Schlei 7. Adjournment Motion by S McMeans, seconded by B Schlei to adjourn. City of Manitowoc Page 7