08/22/05 City Council Minutes. SPECIAL MEETING OF THE KALISPELL CITY COUNCIL WAS HELD AT .00 RM,
MON AY, AUGUST 22, 2005, IN THE COUNCIL CRAMBERS AT CITY HALL IN
KALISPELL, MONTAN . MAYOR PAMELA B. KENNE Y PRESIDED. COUNCIL
MEMBERS JIM A KINSON, KARI GABRIEL, BOB HAFESN, RANDY KENYON,
TIM KLI ES E� DUANE LARSON, AND HANK o SON WERE PRESENT, COUNCIL
MEMBER. BOB HERRoN WAS ,ABSENT.
Also present. City Manager James Patrick, City Attorney Charles Harball, City Clerk Theresa White,
Finance Director Amy Robertson, Community Development Director Susan Moyer, and Community
Redevelopment Manager Sandy Wheeler.
Mayor Kennedy called the meeting to order and fed the Pledge of Allegiance.
A. AGENDA APPROVAL
Kenyon moved approval of the Agenda. The motion was seconded,
There was no discussion.
The motion carried unanimously upon vote.
B. PUBLIC COMMENT
None.
C, REPORTS/RECOMMENDATIONS AND SUBSEQUENT COUNCIL ACTION
C/L AUTHORIZATION of BOND PURCHASE ,AGREEMENT — KALISPELL CITY
AIRPORT REDEVELOPMENT PLAN
Staff requested the Council authorize the City Manager and Finance Director to accept the bids and
sign the Bond Purchase Agreement for the sale of Airport Urban Renewal Bonds.
Atkinson moved the City Council approve the pricing for the Series 2005A (Non-AMI) and for
the Series 2005E AM Bonds on the Tax Increment Ur an Renewal Revenue Bonds a
presented y Bridget Ekstrom of I .A, Davidson, with the authority given to the City Manager
and Finance Director to approve the Sale within 5,0 basis points of the structure presented,
The motion was seconded.
'trick gave a staff report.
Bridget Ekstrom, . ...I ., explained that she,, the City Manager, City Attorney and the Finance
Director participated in a pricing call this afternoon to discuss market rates and comparable financing
and they determined the proposed rates that will be presented tomorrow morning. She said the
interest rates range from a low or 3,55 % to a high of 4.40% over the terra of the bond;
Patrick answered c est OTIS.
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August 22, 2005
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Hafferman stated he will be voting against the resolution because several things- need to be done first
such as meeting FAA requirements. He said in the meantime the taxpayer is on the hook and the City
should not be financing any portion of private development.
The motion carried upon roll call vote with Atkinson, Gabriel, Kenyon, Kdnesner, Larson,
Olson., and Mayor Kennedy voting in favor, Haller .an voting against, and Herron absent.
C . RESOLUTION 5048 — RESOLUTION of INTENT AND CALL FOR PUBLIC
HEARING — BOARD OF INVESTMENTS LOAN
This resolution schedules a public hearing; for September 6 for public comments concerning a Board
of Investments Loan to purchase the Wells Fargo Building for City offices.
Larson moved Resolution 5048, a resolution of intent by the City of Kalispell to enter into
loan agreement with the Board of Investments of the State of Montana for the principal sum o
$1,100,000 for the purpose of purchasingthe real property and improvements at 201 First
Avenue East, Kalispell, and to call for a public hearing. The notion was seconded.
Patrick gave a staff report and answered questions.
Ha ern an commented he'll vote for the public hearing, but he'll be surprised if anyone from the
public shows up because it doesn't make a "heck of a lot of dferen.ce if a whole flock of then show
up opposed to it because the resolutioji is probably ready and go and ready to be voted on".
Olson said this moved faster than he would have lied, but since the majority of the Council is in
favor of it he will go along with the purchase. He said at least the City will own the building in ten
years and he noted the difference between the bond payment and the lease payments the City is
making right now is only $ ,ono a year more.
Hafferman stated if it costs more to own then. rent, ``I say rent". He suggested an economic analysis
be prepared for the public to review prior to the public hearing.
Kluesner agreed, asking that good documentation be provided to the public.
The notion carried unanimously upon roll call vote.
.ADJOURN
The meeting was adjourned at 7:35 p, .
ATTEST:
Theresa White
City Clerk
.Approved September 6, 2005
f-
Pamela B. Kennedy -
Mayor
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