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City Council

Regular Meeting

Paola, KS · December 18, 2015

AgendaMinutes

Minutes

MINUTES OF THE SPECIAL COUNCIL MEETING OF THE CITY OF PAOLA, KANSAS 12:45 P.M. – December 18, 2015 HELD AT THE PAOLA CITY HALL 19 E Peoria Street in Paola The Governing Body of the City of Paola, Kansas, met with Mayor Stuteville presiding. Council Members present: Mayor Artie Stuteville and Council Members Jim Pritchard, Gee Gee Wilhoite, Leigh House and Aaron Nickelson. Council Members absent: None. Also present: City Manager Jay Wieland, City Clerk Dan Droste, Greg Vahrenberg with Piper Jaffray, and Brian McCauley with the Miami County Republic. Agenda Item 1 – Call to Order: The special council meeting was called to order by Mayor Stuteville at 12:45 pm after the conclusion of the Paola, Kansas Public Building Commission meeting. Agenda Item 2 – Roll Call: Mayor Stuteville and Council Members Pritchard, Wilhoite, House, and Nickelson were all present. No one was absent. Agenda Item 3 - Consider an Ordinance approving the issuance of Paola, Kansas Public Building Commission refunding revenue bonds, Series 2016. In the Paola, Kansas Public Building Commission meeting held immediately prior to this meeting, Mr. Greg Vahrenberg with Piper Jaffray reported that the sale of the refunding bonds was completed yesterday. He reported that the original 2007 PBC bonds had an average interest rate of 4.2% and the purpose of refinancing the bonds was to take advantage of lower interest rates and to extend the repayment term. Mr. Vahrenberg reported that Standard and Poor’s provided the financial rating for the bond issue and their report reaffirmed a rating of “A+ / Stable Outlook” for both the City of Paola and the Paola, Kansas Public Building Commission. Mr. Vahrenberg presented the final results of the sale of the refunding bonds noting that the final principal amount of the issue was $2,185,000 with a “True Interest Cost” of 2.345%., a slight improvement over the pre-issue estimate $2,190,000 with a “True Interest Cost” of 2.375%. If approved, the closing on the bond issue will take place on January 12, 2016. Pursuant to that discussion, Council Member Wilhoite made a motion to approve AN ORDINANCE OF THE CITY OF PAOLA, KANSAS, APPROVING THE ISSUANCE OF $2,185,000 AGGREGATE PRINCIPAL AMOUNT OF THE PAOLA, KANSAS PUBLIC BUILDING COMMISSION REFUNDING REVENUE BONDS, SERIES 2016 TO FOR Paola City Council Minutes – December 18, 2015 Page 1 THE PURPOSE OF PROVIDING FUNDS FOR THE REFUNDING AND EARLY REDEMPTION OF THE COMMISSION’S REVENUE BONDS, SERIES 2007 (POLICE STATION); AUTHORIZING THE EXECUTION OF A LEASE OF THE FACILITIES BY THE CITY FROM THE PUBLIC BUILDING COMMISSION; AUTHORIZING THE EXECUTION OF A SITE LEASE OF THE LAND BY THE COMMISSION FROM THE CITY; AUTHORIZING THE EXECUTION OF A BOND PURCHASE AGREEMENT AND OTHER NECESSARY DOCUMENTS RELATED TO THE TRANSACTIONS AUTHORIZED HEREIN. Council Member Nickelson seconded the motion and all voted aye. The motion passed 4 to 0 and the Ordinance was assigned number 3089. Agenda Item 4 – Adjournment. With no additional business to come before the Council, Council Member Wilhoite made a motion to adjourn. Council Member Nickelson seconded the motion and all voted aye. The motion passed 4 to 0. _________________________________ Artie Stuteville, Mayor ATTEST: [seal] ______________________________ Daniel G. Droste, City Clerk Paola City Council Minutes – December 18, 2015 Page 2

Agenda

REQUEST FOR SPECIAL MEETING OF THE GOVERNING BODY OF THE CITY OF PAOLA, KANSAS TO THE HONORABLE MAYOR, ARTIE STUTEVILLE, OF THE CITY OF PAOLA, KANSAS: We, the undersigned being duly elected, qualified, and acting Councilmembers of the City of Paola, Kansas, hereby respectfully request you to call a Special Meeting of the Governing Body of the City of Paola, Kansas to be held in the Second Floor Conference Room at Paola City Hall at 19 E Peoria Street in Paola on Friday, December 18, 2015. There will be a Paola Kansas Public Building Commission meeting at 12:15 pm on this same date and at the same location. The starting time for the Paola City Council Special Meeting will be dictated by the conclusion of the Public Building Commission meeting. The agenda for this meeting is attached. _______________________________ ___________________________________ Jim Pritchard, Councilmember Ward 1 Gee Gee Wilhoite, Councilmember Ward 2 _______________________________ ___________________________________ Leigh House, Councilmember Ward 3 Aaron Nickelson, Councilmember Ward 4 * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * CALL OF SPECIAL COUNCIL MEETING I, the undersigned Mayor of the City of Paola, Kansas having received a request for a special meeting of the Governing Body of said city, do by these presents call a special council meeting of the City of Paola, Kansas for the purpose set forth in the foregoing request. _________________________________ Artie Stuteville, Mayor AGENDA SPECIAL COUNCIL MEETING OF THE CITY OF PAOLA, KANSAS TO BE HELD IN THE 2nd FLOOR CONFERENCE ROOM AT PAOLA CITY HALL 19 E Peoria Street Paola, KS 66071 December 18, 2015 Note: The meeting of the Paola City Council will begin at the conclusion of the Paola, Kansas Public Building Commission meeting that is scheduled for 12:15 pm on this same place and date. The starting time for this meeting will be dictated by the conclusion of the previous meeting. ~ Thank you for turning off your cell phone. Council Meetings are tape recorded. ~ 1. Call to Order 2. Roll Call - Pritchard ___ Wilhoite ___ House ___ Nickelson ___ Mayor Stuteville ___ 3. Consider an Ordinance approving the issuance of Paola, Kansas Public Building Commission refunding revenue bonds, Series 2016. Action: Motion to approve AN ORDINANCE OF THE CITY OF PAOLA, KANSAS, APPROVING THE ISSUANCE OF $2,185,000 AGGREGATE PRINCIPAL AMOUNT OF THE PAOLA, KANSAS PUBLIC BUILDING COMMISSION REFUNDING REVENUE BONDS, SERIES 2016 TO FOR THE PURPOSE OF PROVIDING FUNDS FOR THE REFUNDING AND EARLY REDEMPTION OF THE COMMISSION’S REVENUE BONDS, SERIES 2007 (POLICE STATION); AUTHORIZING THE EXECUTION OF A LEASE OF THE FACILITIES BY THE CITY FROM THE PUBLIC BUILDING COMMISSION; AUTHORIZING THE EXECUTION OF A SITE LEASE OF THE LAND BY THE COMMISSION FROM THE CITY; AUTHORIZING THE EXECUTION OF A BOND PURCHASE AGREEMENT AND OTHER NECESSARY DOCUMENTS RELATED TO THE TRANSACTIONS AUTHORIZED HEREIN. (Ordinance No 3089) 4. Adjournment Action – Motion to adjourn. ~ NOTICE ~ In compliance with the American with Disabilities Act, individuals needing assistance or other services or accommodation for this meeting should contact City Clerk Dan Droste at least 24 hours in advance of this meeting at 913-259-3600. * * * It is possible that sometime between 5:30 p.m. and 6:00 p.m. immediately prior to this meeting, during breaks, and directly after the meeting, that a majority of the Governing Body may be present in the meeting room, hallway, or parking lot. No one is excluded from these areas at any time.

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