Minutes 07/25/2000 - Laserfiche WebLink

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July 25, 2000 The principal concept is pooling of money. We already have the money, but arbitrage would be a better option." Mayor Crabtree declared the Public Hearing open. Travis, of 401 Fifth Street, asked, "It almost sounds too good to be true. Are there any risks?" City Manager Reynolds replied, "lt's the same concept as the school [Albert Harris] project." Mr. Sanders asked, "Is there a penalty for early pay off?" Paul Jacobsen, bond counsel of Sands, Anderson, Marks and Miller, replied, "There is no penalty for prepayment." Mayor Crabtree declared the Public Hearing closed. Council Member Roop moved to adopt. the attached Ordinance (Attachment A); the motion was duly seconded and carried by the following vote, with all members voting: Vote 5 - 0; Yeas (5) - Crabtree, Dallas, Ferrill, Roop, Teague; Nays (0) - None. Council Member Ferrill moved to adopt the following Consent Agenda, accepting and appropriating the following items received from State Forfeited Assets in the General Fund for FY1999-2000; the motion was duly seconded and carried by the following vote, with all members voting: Roop, Teague; Nays (0) - None: Vote 5 - 0; Yeas (5) - Crabtree, Dallas, Ferrill, J $530.93 - Revenue 01101917-442402, 01221082-506105 - CommonwealthAttorney. $4,153.83 - Revenue 01101917-442401, 01311085-506078 - Police. Expenditure Expenditure Michael Rogers, Chief of Police, stated, "Our National Night Out will be held on August 1, 2000, in the Broad Street Parking Lot, sponsored by all constitutional officers." City Manager Reynolds stated, "A group photograph of Council is scheduled for August 8, 2000, 7:00 P. M. A work session to discuss the compensation program is scheduled for August 10, 2000, 10:00 A. M.- 12:00 P. M.