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From YouTube: October 13, 2021 Board of Estimate and Taxation
Description
Additional information at
https://lims.minneapolismn.gov
B
B
B
B
B
D
B
A
B
The
motion
passes
in
the
agenda
is
adopted.
Next
is
the
acceptance
of
the
minutes
from
the
september
29th
meeting.
May
please
have
a
motion
to
accept
the
minutes.
B
D
B
B
B
Second,
moved
in
seconded,
we
have
a
proper
motion
before
us.
Is
there
any
further
discussion
before
the
clerk
calls
the
role
I?
I
must
say
that
this
calendar
will
be
the
first
calendar
in
a
dozen
years
that
doesn't
have
ms
becker
or
myself
attending
those
meetings.
As
members
of
the
board
of
estimated
taxation.
B
I
think
with
the
clerk
can
call
a
roll.
Please.
B
B
Excellent
now
we
have
passage
of
some
bonding
resolutions
and
the
they're
on
under
five,
the
providing
for
the
issuance
of
general
obligation,
bonds
and
the
principal
amount
of
125
million
five
hundred
and
fifteen
dollars
providing
for
the
forums
terms,
financings,
covenants
and
directions
relating
to
the
issuance
of
such
obligations
authorizing
and
to
authorizing
the
sale
in
issuance
of
general
obligation
bonds,
the
city
of
minneapolis
for
the
for
that
same
amount,
which
is
125
million
515
dollars.
B
Motion
made
and
seconded
okay
so
now,
let's
any
discussion
on
this
is
a
significant
amount
of
money,
and
people
may
want
to
know
some
details.
D
D
B
If
not,
then
I
would
call
I
I'm
supposed
to
call
alan
hoppy
from
finance
and
property
services
department
to
present
do
a
presentation
on
these
items.
Alan,
do
you
have
a
presentation?
We
we've
already
heard
of
a
lot
about
this
before,
but
we'll
turn
it
over
to
you.
A
President
wheeler
and
members
of
the
board,
we
don't
have
a
formal
presentation
beyond
what
you
have
in
front
of
you.
I
will
draw
your
attention
to
the
contents
of
the
resolutions,
so
in
the
case
of
the
authorized
resolutions,
if
you
take
a
look
at
the
detail
there,
it
shows
the
numerous
projects
that
we're
financing
here.
A
The
projects
that
were
basically
function
is
a
interim
cash
flow
in
the
sense
that
we're
doing
these
projects
we're
going
out
to
the
marketplace,
getting
bond
proceeds
and
then
over
time,
paying
back
the
bondholders
all
the
projects,
everything
that
we're
doing
here
has
already
been
included
in
the
capital
improvement
plan
of
the
city.
A
So,
from
the
standpoint
that
board
member
becker
referenced
the
fact
that
this
stuff
has
kind
of
been
here
before.
That's
that
that's
true
in
the
sense
of
the
various
projects.
I
can
summarize
some
of
the
tables
that
are
included
in
the
resolution.
A
A
You
know
maybe
some
lights,
some
some
type
of
street
things,
other
city
property
type
improvements,
including
some
parks
bonding.
We
have
almost
52
million
of
utility
revenue
bonds
included
here
about
10
million
of
parking
revenue
and
seven
and
a
half
million
of
special
assessment
bonds,
all
total
that's
about
125
and
a
half
a
million
dollars
general
obligation.
These
are
tax
exempt
bonds.
A
The
expected
interest
rate
probably
be
a
little
bit
above
one
percent,
true
interest
cost
and
the
maximum
levy
that
the
board
of
estimate
taxation
approved.
A
A
One
of
them
is
author
and
authorizing
us
to
go
out
and
sell
these,
or
excuse
me
to
do
this
transaction
and
list
the
details
of
what
we're
financing
the
other
one
is
basically
allowing
us
to
do
the
award
because
the
award
the
sale
is
going
to
happen
october
27th
two
weeks
from
today,
and
so
at
that
point
in
time.
A
The
bond
committee,
which
consists
of
your
senior
advisor
the
city's
chief
financial
officer
and
myself,
will
take
bids
at
that
time
from
the
underwriting
community
and
then
assuming
they're
within
reasonable
expectations,
move
forward
with
approval
in
that
particular
process
that
when
the
city
will
receive
the
proceeds,
usually
several
weeks
later,
so
a
little
more
background.
A
In
some
cases,
of
course,
projects
are
funded
with
other
city
sources
and
some
of
those
city
sources
may
be
used
on
an
interim
basis
and
then
replenished
with
these
bomb
proceeds.
In
other
cases,
the
projects
maybe
haven't
begun
yet,
and
these
bomb
proceeds
will
be
part
of
the
process
of
getting
the
projects
going.
A
So
that
other
questions
I'm
happy
to
answer
what
I
can.
B
Thank
you.
Thank
you
for
giving
us
some
good
background
on
that.
We
really
really
appreciate
that.
Is
there
a
motion
to
accept
these
two
bond
resolutions
so
moved?
Is
there
a
second
second
moved
and
seconded?
Is
there
any
further
discussion.
C
Vice
president
becker
hi,
president
wheeler.
There
are
six
eyes.