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From YouTube: August 26, 2020 Board of Estimate and Taxation
Description
August 26, 2020 Board of Estimate and Taxation Meeting
A
A
B
C
Good
afternoon
welcome
to
this
live
broadcast
of
our
virtual
meeting.
This
meeting
includes
the
remote
participation
of
members
as
authorized
under
minnesota
statutes,
section
13d
0.021,
due
to
the
declared
local
health
pandemic.
For
the
record,
my
name
is
carol
becker.
I
am
the
president
of
the
board
of
estimated
taxation
and
will
now
call
this
meeting
to
order.
Ask
the
clerk
to
call
the
rule
that
we
may
verify
the
presence
of
a
quorum.
C
Let
the
record
reflect
that
we
have
a
quorum,
we'll
now
proceed
to
our
agenda,
a
copy
which
was
posted
for
public
access.
The
city's
legislative
information
system,
which
is
available
at
limb.minneapolismn.gov
for
all
voting
roll
call,
will
be
used,
given
that
we
are
working
remotely
next
thing
on
the
agenda
is
the
adoption
of
the
agenda
board
members.
The
agendas
before
us
can
have
a
motion
to
adopt
the
agenda.
B
C
A
A
D
A
D
A
D
E
C
A
C
A
D
A
D
A
D
C
F
I
apologize
madam
chair.
My
name
is
dushani
dai.
I've
been
with
the
city
now
as
the
cfo
for
two
and
a
half
weeks.
I'm
excited
to
be
here.
I
come
from
government
sector.
Most
of
my
career
has
been
in
hennepin
and
ramsey
county,
so
I
bring
a
lot
of
government
finance
experience
and
I'm
excited
to
join
the
bet
as
well.
B
C
Much
item
five
on
the
agenda
moving
on
is
three
resolutions
for
bond
sale.
One
number
one
is
a
refunding
bond
and
the
amount
of
22
million
dollars
number
two
authorizes:
the
sale
in
issuance
of
taxable
general
obligation
convention
center
refunding
bonds,
the
principal
amount
of
26
million
dollars
item
three
authorizes:
the
sale
and
issuance
of
general
obligation
parking
assessment
refunding
bonds
in
the
principal
amount
of
13
805..
G
Hello
president
becker,
thank
you.
The
city
has
a
bond
issue
that
was
authorized
earlier
this
spring.
These
three
proposed
refundings
will
be
combined
with
that
earlier
bond
issue.
The
earlier
bond
issue
was
delayed
because
of
like
everything
else,
all
the
complexities
and
difficulties
involved
with
the
coca
19
issues,
so
we're
looking
at
selling
these
bonds
all
together
in
september,
so
in
just
a
few
weeks,
what's
going
on
with
these
refunding
bonds,
these
three
issues
in
particular.
G
G
We
also
have
a
bundled
bond
issue
here,
refunding
bonds,
which
is
multiple
things,
multiple
purposes,
such
as
the
library
of
bond
issues,
some
improvement
bond
issues
that
are
involved
in
the
refinancing,
so
that's
kind
of
the
basic
of
what's
going
on
here.
The
convention
center
doesn't
necessarily
have
any
savings.
Of
course
it
depends
where
we
end
up
with
interest
rates,
but
that's
a
structuring
for
the
sake
of
cash
flow.
B
G
President
backer
and
board
members
so
just
to
point
out
the
city
has
a
aaa
bond
rating
from
s
p
and
a
double
a
plus
from
fitch.
So
at
the
moment
we
expect
that
to
continue,
but
it's
been
tough
times
for
government
entities
across
across
the
nation,
so
everybody's
under
the
same
stresses
and
taking
progressive
measures
to
manage
their
situations.
C
C
A
D
C
C
E
Madam
president,
this
is
casey,
I'm
sorry
to
interrupt.
I
believe,
and
I
can
check
with
the
clerk.
The
vote
we
just
took
was
on
the
passage
of
several
resolutions
related
to
2020
bond
refunding
resolutions.
There
were
a
series
of
those
three,
but
we
did.
I
think
we
skipped
over
six,
which
is
a
separate
resolution.
Item
number
six
is
the
tax
levy
for
2021
for
the
bet.
C
Oh,
thank
you
so
much.
I
did
miss
item
six.
I
apologize
if
we
have
any
other
directions
to
staff,
but
let's,
let's
get
backwards,
item
six
item.
Six
on
the
agenda
is
the
passage
of
the
bet's
preliminary
budget
and
recommended
tax
levy
and
for
people
who
don't
know
the
mayor
includes
our
requested
levy
in
his
recommended
levy,
and
this
is
formally
taking
an
action
to
recommend
a
levy
and
also
to
do
a
preliminary
approval
of
our
budget.
C
C
C
B
H
E
E
Mr
mr
mayor,
to
clarify,
you
are
not
approving
the
maximum
tax
will
be
set
for
the
entire
city
budget
for
fiscal
year
2021,
and
I
know
that
deputy
cfo
lori
johnson's
on
the
phone
might
be
able
to
pitch
in
and
help
as
well.
This
item
is
specifically
asking
this
body
to
approve
its
own
preliminary
budget
and
the
associated
tax
levy
for
fiscal
year.
2021
specific
to
the
agency,
known
as
the
board
of
estimated
taxation.
E
C
Just
to
also
be
clear
that
that
we
have
not
entertained
the
mayor's
budget
yet
in
the
board
of
estimate,
and
that,
in
fact,
we
have
three
meetings
coming
up,
there
will
be
a
meeting
on
the
ninth
where
the
mayor's
budget
will
be
presented
as
well
as
the
park
board's
budget.
There
will
be
a
public
hearing
on
the
16th,
we're
going
to
have
to
add
an
extra
meeting
that
will
be
one
week
later,
that
will
be
our
public
hearing
and
then
we
will
adopt
on
the
23rd
the
whole
maximum
levy
for
everybody.