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05-12-1982 - Special ~ ~ , ~ v J CITY OF EDGEWATER CITY COUNCIL SPECIAL MEETING MAY 12, 1982 In the absence of the Mayor, Vice Mayor Pendleton called the Special Meeting to order at 3:00 PM in the conference area of the Community Center. ROLL CALL Mayor Robert Christy Councilman Jacob Lodico Councilman David Ledbetter Councilman Wilbert Pendleton Councilman John Wilbur Excused Present Present Present Present City Atty. Clay Henderson City Manager Joe Mitchell City Clerk Nancy Blazi Police Chief Earl Baugh Present Present Excused Present Also present were representatives from H. I. Henann and Company, Inc., Harvey I. Henann and Robert Kurlander, and Mrs. Susan Wadsworth, Deputy City Clerk. Vice Mayor Pendleton stated that the Special Meeting had been called by the City Manager for the purpose of considering the engagement of investment bankers, and to discuss and take action upon matters pertaining to the paving of roads. City Manager Mitchell referred to policies established by the Council at the time of considering the present road program. He noted that the Council had approved an allocation of $136,000. in the FY 1982 budget and approximately $31,000. of this was presently being used for road sealing and re-surfacing in the older parts of Edgewater and $100,000. has been set aside for new roads in Florida Shores. All of the processing necessary to proceed with the Florida Shores paving have been completed short of taking bids and enacting the final assessment rolls. He noted, however, that the City needs a long range financing plan because it does not have sufficient capital to finance the homeowners' assessments, adding that many people would like to pay the assessment on a time payment plan and this is not possible either under present circumstances. He stated that if a long range financing plan could be achieved it would speed up the work in Florida Shores, permit a time payment plan for assessments, and possibly free.up some funds to speed up work in older parts of Edgewater. At this point, he introduced Harvey I. Henann of the firm of that name which specializes in handling municipal bond issues. Councilman Ledbetter noted that the people had defeated a referendum on paving several years ago and felt that a bond issue of this magnitude should be put on referendum. Vice Mayor Pendleton noted that this meeting was for inform- ation only. Councilman Lodico asked what the requirements were for referendum and the City Manager said that a general obligation bond requires a referendum whereas a revenue bond does not and this would be a revenue bond. City Attorney Henderson verified this. Mr. Henann discussed various aspects of bonding, noting that his services would be of no charge unless a bond issue were actually sold, that his firm would offer to buy the bond issue but the Council could elect to offer it to others. He said that the whole process of preparing recommendations for Council would take from 4 to 6 weeks and that his final report would offer various options and give the Council a clear idea of the feasibility of a bond issue. He noted that his firm specializes in the municipal bond area and that they would work with our engineers and with bond attorneys, the latter also being on a contingency basis. He then went on to discuss at length various aspects of a bond issue for paving. At this point Vice Mayor Pendleton opened the meeting to discussion by members of the public. Robert Garthwaite of 10 Lee Drive inquired about whether or not the streets would be ripped up after being paved in order to install sewers. The City Manager noted that the water installations would be complete prior to paving and that any sewer installations under the low pressure system would be done parallel to the road and tunneling under the road where necessary. Mr. Garthwaite also asked about foreclosures in the event of .". ~ ,. .~ I . . , <.> ~ ..,.,,- <J of failing to pay the assessment. Mr. Mitchell noted that the long range financing plan by bond issue would offer the option for time payments, thus avoiding this problem in most cases, although the City Attorney noted that foreclosures would be a possibility. Superintendent of Public Works Earl Copeland noted that it is possible to lay pipe in advance of the paving, thus avoiding tunneling. Dan Holahan of 1403 Queen Palm asked about priorities of liens and the City Attorney stated that the City would have priority. Jack Spencer of 2604 Victory Palm would like the work to proceed as soon as possible and questioned whether or not all of the work had to be done as quickly as is being suggested, noting that he is quite satisfied where he is. He was most concerned about a delay in the currently authorized program. Don Billups of 1860 Pine Street asked if those living on streets already paved would be assessed and Mr. Henann noted that only those who benefit from th:( paving could be assessed. Mr. Billups noted that his property assessments had been rising dramatically and wondered if paving streets would add to t e assessments. Councilman Wilbur made a motion that the Council engage the firm of H. I. Henann & Company, Inc. according to an agreement prepared by that firm. Councilman Lodico seconded the motion and it was carried 3-1 with Councilman Ledbetter dissenting. Vice Mayor Pendleton noted that the engagement of the firm was for the purpose of getting more information and no final commitment had been made. CounG~lman Wilbur moved to adjourn the meeting. Councilman Lodico seconded, and the meeting was adjourned at 3:55 PM. Minutes submitted by: ... ~~. Susan J. Wadsworth, Deputy City Clerk ~ ATTEST: c= 1f ~. Approved this / l' day of . May, :~2. , ~ / --: ~-'_ -k ~~~ ~ Mayor Special Council Meeting -2-