FM110999
FINANCE COMMITTEE - CITY OF MUSKEGO Approved
MINUTES OF MEETING HELD TUESDAY, NOVEMBER 9, 1999
The meeting was called to order at 7:05 p.m. by Mayor De Angelis. Also present were
Committee members Slocomb, Sanders, and Salentine, Ald. Le Doux, Ald. Chiaverotti,
Finance Director Gunderson, Dave Anderson of Ehlers, and Deputy Clerk Blenski. Ald.
Patterson and Pionek arrived during the meeting.
The Deputy Clerk noted the meeting was noticed in accordance with the Open Meeting
Law.
PERSONAL APPEARANCES
Mr. Dave Anderson of Ehlers & Associates appeared before the Committee regarding
the City’s financing of future improvement projects. General obligation promissory
notes in the amount of $2,600,000 will be used to finance future capital fund projects.
The City will need over $5 million to finance city, sewer and water projects. He noted
that there is more flexibility in terms of spending the money and the interest earned if
the City does not exceed $5 million in one year. So it is anticipated that the City will
also issue promissory notes in 2000. The $2,600,000 will also be used to pay off some
existing debt because better interest rates are currently available. Mr. Anderson
distributed information schedules regarding the financing and repayment. It is the
recommendation of Ehlers that proposed sewer and water projects be financed on their
own by their own revenue bonds. The City is achieving the goal of levying off or
declining its principal payments for financing debt of the general fund.
There were no licenses to review. Minutes of previous meeting were accepted.
VOUCHER APPROVAL
Ald. Salentine moved to recommend approval of payment of General Vouchers in
the amount of $1,174,383.17 and Utility Vouchers in the amount of $59,805.40.
Ald. Slocomb seconded; motion carried unanimously.
ADJOURNMENT
Ald. Sanders moved to adjourn at 7:23 p.m. Ald. Slocomb seconded; motion
carried unanimously.
Respectfully submitted,
Jill Blenski, CMC
Deputy Clerk
jmb