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01-04-2011 City Council Study Session PacketCity of Grand Island Tuesday, January 04, 2011 Study Session Packet City Council:Mayor: Jay Vavricek Interim City Administrator: Mary Lou Brown City Clerk: RaNae Edwards T u 7:00:00 PM Council Chambers - City Hall 100 East First Street Larry Carney Linna Dee Donaldson Scott Dugan Randy Gard John Gericke Peg Gilbert Chuck Haase Mitchell Nickerson Bob Niemann Kirk Ramsey Call to OrderCity of Grand Island City Council A - SUBMITTAL OF REQUESTS FOR FUTURE ITEMS Individuals who have appropriate items for City Council consideration should complete the Request for Future Agenda Items form located at the Information Booth. If the issue can be handled administratively without Council action, notification will be provided. If the item is scheduled for a meeting or study session, notification of the date will be given. B - RESERVE TIME TO SPEAK ON AGENDA ITEMS This is an opportunity for individuals wishing to provide input on any of tonight's agenda items to reserve time to speak. Please come forward, state your name and address, and the Agenda topic on which you will be speaking. MAYOR COMMUNICATION This is an opportunity for the Mayor to comment on current events, activities, and issues of interest to the community. Call to Order Pledge of Allegiance Roll Call Invocation This is an open meeting of the Grand Island City Council. The City of Grand Island abides by the Open Meetings Act in conducting business. A copy of the Open Meetings Act is displayed in the back of this room as required by state law. The City Council may vote to go into Closed Session on any agenda item as allowed by state law. City of Grand Island City Council Item -1 Recognition of Steve Riehle, City Engineer/Public Works Director for Service with the City of Grand Island Mayor Vavricek and the City Council will recognize Steve Riehle, City Engineer/Public Works Director for his years of dedicated service to the City of Grand Island. Mr. Riehle started with the City on May 10, 1999. During his tenure he led the way for the completion of many significant projects including the Wood River diversion project, South Locust Street I- 80 interchange, widening and streetscape between Husker Highway and Fonner Park Road of South Locust Street, and the completion of four-lanes on South Locust Street before the 2010 Nebraska State Fair. His last day with the City of Grand Island will be Friday, January 7, 2011. We thank Steve for his service to the City of Grand Island and wish him the best. Tuesday, January 04, 2011 Study Session City of Grand Island Staff Contact: Mayor Vavricek City of Grand Island City Council Item -2 Discussion Concerning Financial Guarantee Bond Related to Worker's Compensation Insurance Tuesday, January 04, 2011 Study Session City of Grand Island Staff Contact: Mary Lou Brown City of Grand Island City Council Council Agenda Memo From: Mary Lou Brown, Finance Director Meeting: January 4, 2011 Subject: Financial Guarantee Bond Related to Worker’s Compensation Insurance Item #’s: 2 Presenter(s): Mary Lou Brown, Finance Director Background A payment in the amount of $16,500.00 to Ryder Rosacker McCue and Huston for a financial guarantee bond annual premium was included in a past Schedule of Bills. The payment was related to the City’s worker’s comp coverage. The insurance company requires that security or collateral be provided for payments that extend for long periods of time. This provides the company assurance that they will be reimbursed. In private industry, this coverage would be provided through a letter of credit. As a municipality, the City does not have access to a letter of credit but provides the same assurance through the bond. An alternative method of addressing this perhaps would be the use of an escrow account where the City would put aside the funds. The $730,000 limit is based on the total dollars of outstanding claims. Item -3 Discussion Concerning Potential Bond Refinancing Tuesday, January 04, 2011 Study Session City of Grand Island Staff Contact: Mary Lou Brown City of Grand Island City Council Council Agenda Memo From: Mary Lou Brown, Finance Director Meeting: January 4, 2011 Subject: Potential Bond Refinancing Item #’s: 3 Presenter(s): Mary Lou Brown, Finance Director Background Ameritas Investment Corp is the City’s bond underwriter as approved by Council at the September 28, 2010 Council meeting. At that time, it was indicated that Ameritas would undertake a review of the City’s outstanding bond issues and make recommendations as appropriate. A meeting with Bruce Lefler of Ameritas was held in October 2010 to determine what, if any, actions were appropriate. The first action item from that meeting was the recommendation that we proceed with the redemption of the Solid Waste Bonds Series 2004. This item was brought to Council on December 7, 2010. Several other issues were determined to be candidates for refinancing. The purpose of the study session is to review the initial analysis with Council. Bruce will update the analysis with current interest rates and discuss the status of each of the outstanding bond issues. In the initial analysis, it appeared that refinancing both the Law Enforcement Center and the Library bonds would potentially be the first priorities. Item -4 Discussion Concerning Sanitary Sewer Extension along Highway 281 to I-80 Tuesday, January 04, 2011 Study Session City of Grand Island Staff Contact: Steve Riehle City of Grand Island City Council Council Agenda Memo From: Steven P. Riehle, Public Works Director Meeting: January 4, 2011 Subject: Presentation on Extending City Sanitary Sewer along US Hwy 281 to Interstate 80 Item #’s: 4 Presenter(s): Steven P. Riehle, Public Works Director Background The city has been approached by businesses along US Highway 281 near the Interstate 80 interchange about the possibility of extending city sanitary sewer to serve their property. The businesses currently treat their waste water and will have to invest significant dollars into their existing treatment systems in 2011. Consultants for the businesses have prepared estimates of costs for extending the sanitary sewer lines as well as upgrades to the private waste water treatment systems. Discussion With the potential for a significant investment into private waste water treatment systems, it is prudent at this time to consider extending city Sanitary Sewer. Conclusion The issue is being presented this evening for council to get a better understanding of the issue at hand. A resolution will come forward for council consideration at the January 11, 2011 meeting. The resolution will authorize the mayor to sign a "Letter of Intent" to the Nebraska Department of Environmental Quality to extend City Sanitary Sewer along US Hwy 281 to Interstate 80.