Finance Committee

City of Oconomowoc Finance Committee Meeting Minutes February 16, 2021 - 6:50 PM Aldermen Present: Matt Rosek, Kevin Ellis, Karen Spiegelberg Also Present: Mayor Magnus, Matt Mulder, Lou Kowieski, John Zapfel, Charles Schellpeper, Laurie Sullivan, Joe Pickart, Matt Trebatoski, Jason Gallo, Craig Hoeppner, James Pfister, Mark Frye, Lucas Caine, Ivan Lam, Stan Riffle, Diane Coenen Chairman Rosek called the Finance Committee Meeting to order at 6:50 PM. Call to order and confirmation of appropriate meeting notification Committee Business a. Consider/recommend Budget Amendments for Grants/Donations Received and NE Region Development - 4th Quarter (10/1 - 12/31/20) Motion to recommend budget amendments for grants/donations received and NE Region Development - 4th Quarter (10/1 - 12/31/20) made by Ellis and seconded by Spiegelberg. Motion carried 3-0-0. b. Consider/recommend Various Resolutions for 2021A Tax Exempt GO Bonds and 2021B Taxable GO Bonds - TID #7 Olympia Fields Philip Cosson, Ehlers reported on Items b. 1. - 6. 1. Consider/recommend Initial Resolution 21-R2916 Authorizing General Obligation Bonds in an Amount Not to Exceed $8,860,000 for Community Development Projects in Tax Incremental District No. 7 Motion to recommend initial Resolution 21-R2916 authorizing General Obligation Bonds in an Amount Not to Exceed $8,860,000 for Community Development Projects in Tax Incremental District No. 7 made by Ellis and seconded by Spiegelberg. Motion carried 2-0-1. Rosek recused himself due to a conflict with his firm. 2. Consider/recommend Initial Resolution 21-R2917 Authorizing Taxable General Obligation Bonds in an Amount Not to Exceed $4,475,000 for Community Development Projects in Tax Incremental District No. 7 Motion to recommend initial Resolution 21-R2917 authorizing Taxable General Obligation Bonds in an Amount Not to Exceed $4,475,000 for Community Development Projects in Tax Incremental District No. 7 made by Ellis and seconded by Spiegelberg. Motion carried 3-0-0. 3. Consider/recommend Initial Resolution 21-R2918 Authorizing General Obligation Refunding Bonds in an Amount Not to Exceed $1,035,000 1 Finance Committee - February 16, 2021  Motion to recommend initial Resolution 21-R2918 authorizing General Obligation Refunding Bonds in an Amount Not to Exceed $1,035,000 made by Ellis and seconded by Spiegelberg. Motion carried 2-0-1. Rosek recused himself due to a conflict with his firm. 4. Consider/recommend Resolution 21-R2919 Directing Publication of Notice to Electors Relating to Bond Issues Motion to recommend Resolution 21-R2919 directing Publication of Notice to Electors relating to bond issues made by Ellis and seconded by Spiegelberg. Motion carried 2-0-1. Rosek recused himself due to a conflict with his firm. 5. Consider/recommend Resolution 21-2920 Providing for the Sale of Not to Exceed $9,895,000 General Obligation Corporate Purpose Bonds, Series 2021A Motion to recommend Resolution 21-R2920 providing for the sale of Not to Exceed $9,895,000 General Obligation Corporate Purpose Bonds, Series 2012A made by Ellis and seconded by Spiegelberg. Motion carried 2-0-1. Rosek recused himself due to a conflict with his firm. 6. Consider/recommend Resolution 21-R2921 Providing for the Sale of Not to Exceed $4,475,000 Taxable General Obligation Community Development Bonds, Series 2021B Motion to recommend Resolution 21-R2921 providing for the sale of Not to Exceed $4,475,000 Taxable General Obligation Community Development Bonds, Series 2021B made by Ellis and seconded by Spiegelberg. Motion carried 2-0-1. Rosek recused himself due to a conflict with his firm. c. Consider/act on Vouchers 1. January 2021 Voucher Report Motion to approve the vouchers in the amount of $5,774,914.53 made by Ellis and seconded by Rosek. Motion carried 3-0-0. Adjourn Motion to adjourn made by Rosek and seconded by Spiegelberg. Motion carried 3-0-0. The meeting adjourned at 7:04 PM. . ________________________________ Minutes taken by Diane Coenen, City Clerk Alderman Ellis, Secretary 2 Finance Committee - February 16, 2021