HomeMy WebLinkAbout07-18-2005
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FINANCE COMMITTEE
JULY 18, 2005
MINUTES
I. CALL TO ORDER
Chair Nancy Backus called the meeting to order at 6:30 p.m. in the
Council Conference Room at Auburn City Hall located at 25 West Main
Street in Auburn. Committee members present were: Chair Backus, Vice
Chair Lynn Norman, and Member Roger Thordarson. Also present were:
Mayor Peter B. Lewis, City Attorney Daniel B. Heid, Finance Director
Shelley Coleman, Human Resources and Risk Management Director
Brenda Heineman, Information Services Director Lorrie Rempher, and
City Clerk Danielle Daskam. Ms. Lindsey Sovde and Ms. Annette
Sommer of Seattle-Northwest Securities Corporation were also in
attendance.
II. APPROVAL OF MINUTES
A. Minutes of the July 5, 2005 Finance Committee meeting.
Vice Chair Norman moved and Member Thordarson seconded to
approve the July 5, 2005 Finance Committee minutes.
MOTION CARRIED UNANIMOUSLY. 3-0.
III. CONSENT ITEMS
A. Vouchers
1. Claims
F4.9.5
Claims check numbers 343026 through 343362 in the
amount of $1,993,785.05 and dated July 18, 2005.
2. Payroll
F4.9.2
Payroll check numbers 512869 to 513041 in the amount of
$683,186.84 and electronic deposit transmissions in the
amount of $1,000,080.75 for a grand total of $1,683,267.59
for the pay period covering June 30, 2005 to July 13, 2005.
Page 1
Finance Committee Minutes
Julv 18, 2005
Committee members reviewed the consent items and briefly
discussed claims vouchers 343172, 343027, 343028,
343156, 343221, 343235, 343259, 343268, 343278,
343326, 343289, 343319, 343324 and 343325.
Vice Chair Norman moved and Member Thordarson
seconded to approve the consent items.
MOTION CARRIED UNANIMOUSLY. 3-0.
IV. ORDINANCES AND RESOLUTIONS
A. Resolution No. 3861
F4.6.1
A Resolution of the City Council of the City of Auburn, Washington
declaring certain items of property as surplus and authorizing their
disposal
Resolution No. 3861 authorizes the surplus and disposal of 97
cases of Meals-Ready-to-Eat (MRE's) that were purchased in 2000
and are due to expire in September 2005. The resolution also
provides that the MRE's are to be donated to the Homeless
Outreach Mobilization Efforts.
Vice Chair Norman moved and Member Thordarson seconded to
recommend approval of Resolution No. 3861.
MOTION CARRIED UNANIMOUSLY. 3-0.
B. Resolution No. 3870
A3.9.3
A Resolution of the City Council of the City of Auburn, Washington,
approving the Collective Bargaining Agreement between the City of
Auburn and the International Association of Machinists and
Aerospace Workers, Local 160 for 2005-2007
Human Resources and Risk Management Director Heineman
presented Resolution No. 3870, which approves the Collective
Bargaining Agreement between the City and the International
Association of Machinists and Aerospace Workers Local 160
(police services specialists, receptionist, police services supervisor,
parking control attendant, corrections officers, and evidence
technicians) for the term 2005-2007.
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Finance Committee Minutes
Julv 18. 2005
Vice Chair Norman moved and Member Thordarson seconded to
recommend approval of Resolution No. 3870.
Chair Backus pointed out that the language in Section 1 of the
agreement regarding union membership appears unclear and may
contain a possible scrivener's error. Chair Backus also inquired
regarding the application of Section 5 of the agreement regarding
standby pay.
MOTION CARRIED UNANIMOUSLY. 3-0.
C. Resolution No. 3874
M.52. A3.16.6
A Resolution of the City Council of the City of Auburn, Washington,
authorizing the Mayor and City Clerk to execute a Technical
Services Agreement between the City of Auburn and Warren
Barber and Fontes, P.S. to procure temporary prosecuting attorney
services
Director Heineman presented Resolution No. 3874 which
authorizes a Technical Services Agreement for contract prosecutor
services during the medical leave of one of the City's prosecutors.
Vice Chair Norman moved and Member Thordarson seconded to
recommend approval of Resolution No. 3874.
MOTION CARRIED UNANIMOUSLY. 3-0.
V. DISCUSSION ITEMS
A. Draft Bond Ordinances
Finance Director Coleman introduced Lindsey Sovde and Annette
Sommers from Seattle-Northwest Securities Corporation. Seattle-
Northwest Securities is the bond underwriter for the City. Mr. Hugh
Spitzer of Foster Pepper and Sheffelman, who was unable to
attend the Finance Committee meeting, will be the City's bond
counsel for the bond refunding.
Ms. Sovde explained that bond pricing changes from day to day.
The objective of the bond refunding is to achieve maximum savings
levels, as there is only one opportunity to refinance during the life
of the bonds. Typically, bond refinancing is recommended when
the net savings is at least 3% of the current value.
Page 3
Finance Committee Minutes
Julv 18. 2005
It is proposed to refinance approximately $1.3 million of the 1999
General Obligation bonds resulting in a net savings of
approximately $51,000 or 4% of present value. Additionally,
approximately $2.9 million of the 1997 Revenue bonds will be
refinanced resulting in a net savings of $145,000 or 5.08% of
present value.
The bond refunding ordinances will be presented to the Council for
adoption on August 1, 2005.
Committee members concurred with the bond refunding proposal.
B. Resolution No. 3875
A3.17
A Resolution of the City Council of the City of Auburn, Washington,
authorizing the execution of a Lease Agreement between the City
of Auburn and the United States of America for rental of office and
light industrial space at the General Services Administration (GSA)
fire station/shop building, GSA Warehouse Complex, located at
2815 "C" Street SW
Finance Director Coleman presented Resolution No. 3875 which
authorizes a lease agreement between the United States General
Services Administration (GSA) and the City of Auburn for the lease
of GSA office and light industrial space for use as a City fire
station/shop building. The City has had two previous five-year
leases for the property.
Director Coleman reported that the third sentence of article 11 of
the lease agreement is to be struck on the recommendation of the
City's insurance carrier. Director Coleman also noted that the
lease rate is unchanged from the previous lease agreement.
There was no objection from the Finance Committee members.
The Resolution was presented to the Municipal Services
Committee earlier this evening for recommendation.
Page 4
Finance Committee Minutes
Julv 18. 2005
VI. ADJOURNMENT
There being no further business to come before the Committee, the
meeting adjourned at 7:06 p.m.
APPROVED THE /¿l: DAY OF AUGUST 2005
I:lclerklfinancelfca\2005fca07-16
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'elle Daskam, City Clerk