2. Council Minutes - Special Meeting August 22, 2005A SPECIAL MEETING OF THE KALISPELL CITY COUNCIL WAS HELD AT 7:00 P.M.
MOD AY, AUGUST 22, 2005 N THE COUNCIL CHAMBERS AT CITY HALL IN
KALISPELL, MONTANA. MAYOR PAME A B, KENNE Y PRESIDED. COUNCIL
MEMBERS JIM A KINSON, KART GA REEL, BOB HAFFERMAN, RANDY KEPT oN,
TIM KLUESN R, DUANE LARSON, ,AND HANK OLSON WERE PRESENT. COUNCIL
MEMBER BOB HERRON WAS ABSENT.
Also present: City Manager James Patrick, City .Attorney Charles Harball, City Clerk Theresa white,
`finance Director Any Robertson, Community Development Director Susan Moyer, and Community
Redevelopment Manager Sandy Wheeler.
Mayor Kennedy called the meeting to order and led the Pledge of Allegiance.
A. AGENDA APPROVAL
Kenyon moved approval of the Agenda. The motion was seconded.
There was no discussion.
The notion carried unanimously upon vote*
B. .PUBLIC COMMENT
None.
C. REPORTS/RECOMMENDATIONS AND SUBSEQUENT COUNCIL ACTION
C 1. AUTHORIZATION OF BOND PURCHASE AGREEMENT — KALISPELL CITY
Y
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 200 A. (Non -.AM and for
the Series 2005B AM Bonds on the Tax Increment Urban Renewal Revenue Bonds as
presented by Bridget Ekstrom of D.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.
Patrick gave a staff .report.
Bridget Ekstrom, D.A.D., 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 of 3. % to a. high of . 0 over the term of the bond.
Patrick answered questions.
Kalispell City Council special Meeting Minutes
August 22, 2005
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Hafrerman stated he will be voting against the resolution because several things reed 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, Klesner, Larson,
Olson, and Mayor Kennedy voting in favor, Haf erman voting against, and Herron absent.
C 2. 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 5o , a resolution of intent by the City of Kalispell to enter into a
loan agreement with the Board of Investments of the State of Montana for the principal sun of
$1,100,000 for the purpose of purchasing the real property and improvements at 201 First
Avenue East, Kalispell, and to call for a public hearing. The motion was seconded.
Patrick gave a staff report and answered questions.
Haffennan eommented he'll vote for the public hearing, but he'11 be surprised if anyone from the
public shows up because it doesn't make a `%eck of a lot of difference if a whole flock of there show
p opposed to it because the resolution is probably ready and go and ready to be voted o".
Olson said this moved faster than he would have liked, but since the maj
�ority 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 $5,000 a year more.
Haffennan stated if it costs more to own then rent, 1 say rent". He suggested an economic analysis
be prepared for the public to review prior to the public hearing.
Klesner agreed, asking; that good documentation be provided to the public.
The notion carried unanimously upon roll call vote.
ADJOURN
The .meeting was adjourned at :35 p.m.
ATTEST;
Theresa White
City Clerk
.Pamela B. Kennedy
Mayor
Kalispell City Council it special Meeting Minutes
August 22, 2005
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