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UTILITIES NOVEMBER 23.2015 4:00 P.M. <br /> Committee Members Present: Dr. David Varner, Gavin Ferlic, Dr. Fred Ferlic, Derek Dieter <br /> Citizen Members Present: Kathleen Petitjean (AB),Jack Smith (AB) <br /> Other Council Present: Tim Scott(XAB), Henry Davis,Valerie Schey(XAB), <br /> Oliver Davis(XAB), Karen White <br /> Others Present: Cecil Eastman,Jennifer Hockenhall,Jennifer Wilson (B&T), <br /> Phil Facenda (B&T),Jim Lopez, Eric Horvath, Mike Bronstetter, <br /> Jessie Davis,John Murphy <br /> Agenda: Bill No. 71-15 Refunding of Outstanding Sewage Works <br /> Revenue Bond of 2006,2007 and 2007B <br /> Bill No. 68-15 Amend Chapters 6, 17& 18 of SBMC to include <br /> New Rules, Regulations,and Service Charges for <br /> Various Permits and Review in Connection with <br /> Storm Water Control and Construction in the <br /> R-O-W <br /> Bill No. 25-15 Amend Chapter 16 of SBMC regarding to <br /> Provide Yard Waste Removal Solely from City <br /> Furnished Containers <br /> Bill No. 40-15 Amend Chapter 17 of the SBMC Updating <br /> Section 17-14 Addressing Drain and <br /> Downspouts Disconnections Requirements <br /> Full Utilities Committee was present as Chair Dr. David Varner called the review hearings to order. Four <br /> bills all sponsored by the City Administration were scheduled for consideration. <br /> Bill 71-15 was first. This bill was a request to allow the City to refund the outstanding 2006,2007 and <br /> 2007b Sewage Works Bonds. <br /> City Controller John Murphy made a brief presentation describing the purpose and intent, namely a <br /> refinance at a lower interest rate, before turning over the presentation to Phil Facenda Jr. Phil, a bond <br /> attorney from Barnes&Thornburg, is acting as the City's bond counsel. He, in turn, introduced Jennifer <br /> Wilson from the accounting firm Crowe Horwath. Between them they described the refunding as a city <br /> initiative to save money by refinancing from an original 4.45% rate on the bonds to an approximate rate <br /> of 2.00-2.25%. This would save an approximate$3 million in interest over the life of the bond. <br /> Eric Horvath,director of Public Works added that the plan was approved by the Board of Public Works. <br /> Once a brief Q&A session was completed, Dr. Fred Ferlic motioned to forward the bill favorably. Gavin <br /> Ferlic seconded. All affirmed. <br /> 1 <br />