Finance Committee

900 Quay Street City of Manitowoc Manitowoc, WI 54220 www.manitowoc.org Meeting Minutes Finance Committee Tuesday, February 4, 2025 5:30 PM Council Chambers / Virtual (Via Zoom) 1. Call to Order 2. Roll Call Present: 5- Brey, Reckelberg, Sitkiewitz, Schlei and Norell 3. Public Comment Finance Committee Chair Alderperson Brey declared the meeting open for public comment. In accordance with policy, the public comment portion of the meeting is not made part of the official record. 4. Presentations 25-0074 Presentation by Brad Viegut from Robert W. Baird & Co. Inc. on City's 2025 Debt Financing Plan. Attachments: prs finance committee plan_manitowoc 02.04.25 5. Discussion and Action Items 25-0083 Resolution Authorizing the Issuance and Establishing Parameters for the Sale of Not To Exceed $8,680,000 General Obligation Promissory Notes Attachments: City of Manitowoc (GOPNs) - Parameters Resolution Moved by Reckelberg, seconded by Schlei, that this Resolution be adopted. The motion carried by the following vote: Aye: 5- Brey, Reckelberg, Sitkiewitz, Schlei and Norell 25-0084 Resolution Authorizing the Issuance of Not to Exceed $7,000,000 General Obligation Promissory Notes and Authorizing the Issuance and Establishing Parameters for the Sale of Not To Exceed $7,000,000 Note Anticipation Notes in Anticipation Thereof Attachments: City of Manitowoc (NAN) - Parameters Resolution Moved by Reckelberg, seconded by Norell, that this Resolution be adopted. The motion carried by the following vote: Aye: 5- Brey, Reckelberg, Sitkiewitz, Schlei and Norell City of Manitowoc Page 1 Finance Committee Meeting Minutes February 4, 2025 25-0085 Resolution Authorizing the Issuance of Not to Exceed $9,000,000 General Obligation Promissory Notes and Authorizing the Issuance and Establishing Parameters for the Sale of Not To Exceed $9,000,000 Taxable Note Anticipation Notes in Anticipation Thereof Attachments: City of Manitowoc (TNANs) - Parameters Resolution Moved by Reckelberg, seconded by Sitkiewitz, that this Resolution be adopted. The motion carried by the following vote: Aye: 5- Brey, Reckelberg, Sitkiewitz, Schlei and Norell 25-0086 Scope of Engagement Re: Proposed Issuance of $8,680,000 City of Manitowoc (the "City") General Obligation Promissory Notes (the "Securities") Attachments: City of Manitowoc (GOPNs) - Scope of Enagement Moved by Reckelberg, seconded by Schlei, to authorize and approve the City to enter into the Agreement. The motion carried by the following vote: Aye: 5- Brey, Reckelberg, Sitkiewitz, Schlei and Norell 25-0087 Scope of Engagement Re: Proposed Issuance of $7,000,000 City of Manitowoc (the "City") Note Anticipation Notes (the "Securities") Attachments: City of Manitowoc (NANs) - Scope of Engagement Moved by Reckelberg, seconded by Norell, to authorize and approve the City to enter into the Agreement. The motion carried by the following vote: Aye: 5- Brey, Reckelberg, Sitkiewitz, Schlei and Norell 25-0088 Scope of Engagement Re: Proposed Issuance of $9,000,000 City of Manitowoc (the "City") Taxable Note Anticipation Notes (the "Securities") Attachments: City of Manitowoc (TNANs) - Scope of Engagement Moved by Reckelberg, seconded by Schlei, to authorize and approve the City to enter into the Agreement. The motion carried by the following vote: Aye: 5- Brey, Reckelberg, Sitkiewitz, Schlei and Norell 6. Consent Agenda These items will be approved by one motion unless any Committee Member wishes to remove an item for discussion. 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. REMOVAL OF CONSENT AGENDA ITEMS: None City of Manitowoc Page 2 Finance Committee Meeting Minutes February 4, 2025 Approval of the Consent Agenda Moved by Sitkiewitz, seconded by Schlei, to accept the Consent Agenda Items and recommendations of the various committees The motion carried by the following vote: Aye: 5- Brey, Reckelberg, Sitkiewitz, Schlei and Norell 25-0075 Minutes of the January 7, 2025 Finance Committee meeting, recommending approval and place on file. Attachments: 1-7-2025 Finance Committee Minutes 25-0076 Minutes of the January 20, 2025 Finance Committee meeting, recommending approval and place on file. Attachments: 1-20-2025 Finance Committee Minutes 25-0077 4th Qtr. 2024 Capital Allocation Working Group (CAWG) Request Log Report; recommending approval and place on file. Attachments: 2024 Log of CAWG Requests - Unaudited 25-0079 4th Qtr. 2024 Investment Report; recommending approval and place on file. Attachments: Q4 2024 Investment Reconciliation 25-0080 2024 Municipal Court Revenues & Caseload Statistics Report; recommending approval and place on file. Attachments: 2024 Municipal Court Revenues & Caseload Statistics 7. Discussion and Action Items 25-0091 Application for "Class B" Intoxicating Liquor & Fermented Malt Beverage License, TAB-2471, Brittiann LLC, 905 Washington St Attachments: Memo to Finance Re Brittiann LLC Class B License Application 2024 TAV - BRITTIANN LLC - APPLICATION Brittiann LLC Denial Letter 905Washington_BufferMap B. Perkins CCAP J. Golden CCAP J. Golden Farmers Market Application Moved by Reckelberg, seconded by Sitkiewitz, that this Application be denied. The motion carried by the following vote: Aye: 5- Brey, Reckelberg, Sitkiewitz, Schlei and Norell City of Manitowoc Page 3 Finance Committee Meeting Minutes February 4, 2025 25-0081 4th Qtr. 2024 Claims Report Attachments: City Attorney Quarter 4 Claims Report 2024 Moved by Reckelberg, seconded by Sitkiewitz, that this Report be accepted and placed on file. The motion carried by the following vote: Aye: 5- Brey, Reckelberg, Sitkiewitz, Schlei and Norell 25-0082 Out of State Travel Request - Community Development - GIS Coordinator - 2025 ESRI User Conference in San Diego, CA - July 14-18, 2025 Attachments: Out of State Travel Request Form - Jeremy - San Diego CA 2025 Out of State Travel Request Form - Jeremy - San Diego 2025 Moved by Norell, seconded by Schlei, that this Request be approved. The motion carried by the following vote: Aye: 5- Brey, Reckelberg, Sitkiewitz, Schlei and Norell 24-1724 Grant Management Policy Attachments: City of Manitowoc Grant Management Policy.Procedure - Draft This Policy was discussed and held over until the March Finance Committee meeting for further review by City staff 8. Closed Session Notice is hereby given that the above governmental body may adjourn into a closed session during the meeting as authorized by Section 19.85(1)(g) of the Wisconsin Statutes, which authorizes the governmental body to convene in closed session for the purpose of conferring with legal counsel for the governmental body who is rendering oral or written advice concerning strategy to be adopted by the body with respect to litigation in which it is or is likely to become involved. The specific subject matter that may be considered in closed session is: 25-0089 Settlement of Damage to Red Arrow Park Tennis Courts Attachments: Red Arrow Park - Proposed Release of All Claims 25-0090 L24-00125 Claim for Damages - E. Allain Attachments: Emily Allain Adjudication of Contempt of Court 12 11 2024 Emily Allain correspondence BJ054426-1 City of Manitowoc Page 4 Finance Committee Meeting Minutes February 4, 2025 Moved by Reckelberg, seconded by Sitkiewitz, that this meeting be convened in closed session. The motion carried by the following roll call vote: Aye: 5- Brey, Reckelberg, Sitkiewitz, Schlei and Norell 9. Reconvene In Open Session Moved by Schlei, seconded by Reckelberg, that this meeting be reconvened in open session. The motion carried by the following roll call vote: Aye: 5- Brey, Reckelberg, Sitkiewitz, Schlei and Norell 25-0089 Settlement of Damage to Red Arrow Park Tennis Courts Attachments: Red Arrow Park - Proposed Release of All Claims Moved by Reckelberg, seconded by Schlei, to accept the Settlement Proposal and direct the City Attorney to execute the property damage release and any further documents as he determines is necessary to complete this matter. The motion carried by the following vote: Aye: 5- Brey, Reckelberg, Sitkiewitz, Schlei and Norell 25-0090 L24-00125 Claim for Damages - E. Allain Attachments: Emily Allain Adjudication of Contempt of Court 12 11 2024 Emily Allain correspondence BJ054426-1 Moved by Sitkiewitz, seconded by Norell, to deny the Claim and place on file. The motion carried by the following vote: Aye: 5- Brey, Reckelberg, Sitkiewitz, Schlei and Norell 8. Adjournment Moved by Norell, seconded by Sitkiewitz, that this meeting be adjourned. The motion carried by the following vote: Aye: 5- Brey, Reckelberg, Sitkiewitz, Schlei and Norell City of Manitowoc Page 5