HomeMy WebLinkAbout09-08-12 Utilities UTILITIES SEPTEMBER 8, 2012
Committee Members Present: Tim Scott, Valerie Schey, Oliver Davis,
Karen White
Citizens Members: Chris Sopczynski, Dawn Pontius
Other Council Members: Henry Davis, Dr. Ferlic, Dr. Varner, Gavin Ferlic
Derek Dieter
Other Members: Kathryn Roos, John Burke, Gary Gilot Phil Faccenda
Agenda: Bill No. 52-12—Sewage Works Bonds
Bill No. 53-12—Water Works Bonds
Energy Update—Jon Burke
Three agenda items were discussed at Chairperson Tim Scott's Utilities Committee
hearing. The first two Bill Nos. 52-12 & 53-12 were for the issuance and sale of water
and sewage works bonds. For purposes of public hearing Chairperson Scott allowed a
combined presentation. Phil Faccenda from Barnes &Thornburg addressed the purpose
and mechanics of the proposed bonds while Gary Gilot Director of Public Works
described the reasons behind the request for issuance. He said the storm/sewage
separation project mandated by the EPA was proceeding a pace successfully. He added
every effort was being made to find efficiencies and green solutions to this next set of a
series of bonds and resultant rate adjustments previously approved by Council. This
particular issue was not to exceed $25 million. Ultimately after clarifying questions
Oliver Davis motioned 52-12 got to Council favorably. Karen White seconded and all
approved.
Bill No. 53-12 was characterized as a refinance of earlier bond issues allowing the City to
enjoy an interest rate reduction of near 2% from an original issuance rate of 5%to an
expected 3%. Finally, Oliver Davis motioned a favorable recommendation which Valerie
Schey seconded receiving support from all.
The other topic on the agenda was an update on what the City was doing to find energy
efficiencies. This presentation was made by John Burke who heads the City's energy
office. Mr. Burke described efforts made to date as well as proposed initiatives all
detailed in a handout for the Council attached to these minutes. Council discussion
followed during which Oliver Davis suggested teaming with Transpo to take advantage
of possible economies of scale in particular,relating to full costs. Henry Davis suggested
the school corporation be collaborated with as well. David Varner advised a close look at
the financial considerations of a public/private approach to the investment in a CNG
fueling station.
After additional Q &A, Tim Scott adjourned at 4:34.
Respectfully Submitted,
Tim Scott, Chairperson
Utilities Committee
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