07/14/2015 - Laserfiche WebLink

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3 9:05 a.m. Held a Board of Equalization meeting 10:00 a.m. adjourned the Board of Equalization meeting and returned to the regular meeting. PUBLIC PARTICIPATION — Mrs. Peterson requested to address the board regarding the truck by pass. She expressed concern that they are using the engine brakes all day and night and that is prohibited and she also expressed concern on the speed limit. She stated that it needs to be posted. Mr. Schuppan stated that public works will take a look at it and the signs have been ordered. The city is also doing some signage. She also expressed concern on the railroad crossing. AUDIT COMMITTEE RECOMMENDATION 7a .Discuss the possibility of bond refunding —The audit committee met regarding the bond refinancing and Paul Grieger with D A. Davidson was present and distributed a time line and a summary of the bond information. The interest is 4.5% and this may be a good time for the refinancing there is additional cash that could be applied to the bonds and it could shorten the length of the bonds from 2033 to 2027. Mr. Grieger reviewed the time line. This would set the stage for the transactions and move forward. There would be a substantial savings on the interest. Lancaster sated that there is $1.2 million dollars that have been levied for the bonds that could be applied. Purdy asked when the 2011 bonds would mature and that would be 2033 and with the refinancing it would be 2027. The action today would start the process. A. Discuss and take action on a Resolution of the Board of Supervisors of Hall County, Nebraska calling for the early redemption and prepayment on nine million six hundred thousand dollars in aggregate principal amount of the county's general obligation refunding bonds, series 2011 B. Discuss and take action on a resolution of the Board of Supervisors of Hall County, Nebraska authorizing the issuance by the County of its general obligation refunding bonds, series 2015, in an aggregate principal amount not to exceed ten million dollars ($10,000,000); and related matters Lancaster made a motion and Quandt seconded to approve the resolution calling for the early redemption of the 2011 bonds and the resolution authoring the issuance of the general obligation refunding bonds series 2015. Arnold, Lancaster, Lanfear, Purdy, Quandt, Richardson and Schuppan all voted yes and none voted no. Motion carried. 9.10:15 AM — BID OPENING — HALL COUNTY OFFICE BUILDING RESTROOM REMODEL PROJECT— Building &Grounds Director Loran Humphrey was present and stated that there were some adjustment that had to be made and some sheetrock will have to be replaced with cement board and they will use ceramic tile on the walls. This was added to the bid specifications.