2021-02-25 · City Council · Transcript · Public Facilities Authority Meeting

--- title: Public Facilities Authority Meeting date: 2021-02-25 source: 2021-02-25_Public_Facilities_Authority_Meeting.wav --- [0:00:01, 0:00:03]: Okay, so [0:00:13, 0:00:15]: Okay, so we are now live. [0:00:17, 0:00:18]: All right. [0:00:19, 0:00:21]: And Jeremy should be jumping on in just a second as well. [0:00:21, 0:00:23]: Okay, sure, appreciate it. [0:01:06, 0:01:07]: Robert. [0:01:12, 0:01:14]: Mr. Copec, good morning to you, sir. [0:01:15, 0:01:16]: Good morning, Mayor Ford. [0:01:17, 0:01:32]: Hey, I want you to know, sir, that uh I've had conversations with uh Mr. Culpepper briefly this morning and he will not be on the meeting. So you are, sir, by our last meeting notes, uh, you which we have to prove today, you are the vice chair. [0:01:33, 0:01:37]: So I'll work with you to facilitate the meeting as best as possible, okay? [0:01:38, 0:01:39]: Yes, sir. [0:01:39, 0:01:40]: Right. Good deal. Thank you. [0:01:45, 0:01:46]: And actually uh [0:01:47, 0:01:56]: Actually, we actually now it's actually now nine o'clock. Actually, and we have a quorum, is my understanding, quorum is uh four. [0:01:57, 0:02:02]: And we have four members of the PFA online. [0:02:03, 0:02:10]: And since we are live, how you doing, Miss U Rainey? So since we have a quorum, we'll uh go ahead and get started. [0:02:10, 0:02:11]: Um [0:02:12, 0:02:18]: So Mr. Kopeck, if you don't mind, I will call the meeting in order at this point if that's good with you. Well since we have a quorum, is that good, sir? [0:02:18, 0:02:38]: Yes, sir. Okay. On that note, also I'll do a quick uh invocation as well. Lord, thank you for bringing us together once again for a wonderful meeting. Allow us to make good logical decisions for the betterment of our citizens and our city. Allow us to have straight, good dialogue if we continue to do the the best things for our community and going forward and helping. [0:02:38, 0:02:43]: help it grow and become a greater city than it is today. Be us always Lord in your name. Amen. [0:02:44, 0:02:45]: Yeah. [0:02:45, 0:03:05]: And we also have a pledge. So typically typically when we have our council meeting, we stand up, but I know Mr. Kopek is in his car. I don't want I know he can't stand up. So if you don't mind, we'll just go ahead and we'll say the um the actual pledge by sitting at this point, okay? I pledge allegiance to the United States of the United States. [0:03:05, 0:03:10]: America. And to the republic is staying legal staying. [0:03:10, 0:03:13]: One nation. Under nation under God. [0:03:14, 0:03:18]: Indivisible. Indivisible. Liberty. Liberty and justice for all. For all. [0:03:19, 0:03:35]: All right. Obviously it wasn't well coordinated. I didn't sit up and give hand signals and everything, but we got it done. Okay. Um I need a roll call. Uh roll call will be next. And uh Ms. Rainey, you're gonna do that for us? [0:03:37, 0:03:38]: Can't hear you. [0:03:44, 0:03:47]: Can I still can't hear Miss Rainey? Okay. [0:04:02, 0:04:05]: What about now? Can you hear me? Got you now. Good deal. Yes, ma'am. [0:04:06, 0:04:07]: Can you guys hear me? [0:04:07, 0:04:09]: Yes we can. Yes ma'am we can hear you. No. [0:04:10, 0:04:11]: No, we can hear you. [0:04:11, 0:04:14]: Okay, okay, she can okay. [0:04:15, 0:04:16]: I can't hear you though. [0:04:18, 0:04:18]: How about now? [0:04:19, 0:04:21]: Okay, well let me do the roll call. [0:04:21, 0:04:22]: Okay. [0:04:25, 0:04:27]: Um part of the agenda. [0:04:28, 0:04:30]: Mr. Abdullah. [0:04:35, 0:04:37]: Mr. Abdullah, is he here? [0:04:38, 0:04:41]: Mr. Abdullah on our planning commission. [0:04:41, 0:04:42]: Yeah, it is I can't hear. [0:04:43, 0:04:48]: Yes. Okay. Okay. I'll tell you what. She can't hear. So let let me let me let May Mayor Ford. I'll I'll do this. I'll do this. All right. [0:04:49, 0:04:51]: Uh therefore, obviously I'm present, okay? [0:04:51, 0:04:56]: So uh or or call pepper is not present. [0:04:56, 0:05:05]: Uh Miss Aldula is uh not online. Uh T Edwards Collins is not online. Uh Miss George is present. [0:05:06, 0:05:09]: And uh Miss Jones is present. [0:05:09, 0:05:18]: And a vice chair, which is Mr. Kopek, is also present. So it's four members of the PFA that are present. My understanding that a quorum is four. [0:05:19, 0:05:20]: Uh [0:05:20, 0:05:23]: So we can have a actual meeting in this case. [0:05:24, 0:05:25]: Okay. [0:05:25, 0:05:27]: Um now. [0:05:28, 0:05:46]: I would think that uh Rainey heard me, even though we couldn't uh I hope that she heard me. If not, uh I've got this written down of of who's present for this aspect. And uh Ms. Kopeck, uh please make note of who was present as well. Um the next thing would be to uh approve today's agenda. [0:05:47, 0:05:55]: Uh now what I like to do is make a motion to amend the agenda because what we have to do, folks, is we have to decide. [0:05:55, 0:05:59]: uh on our actual attorney that we want for uh the PFA. [0:05:59, 0:06:04]: So I'd like to make a motion to amend the agenda and have and if once that's approved, that that's approved. [0:06:05, 0:06:08]: Have that after we uh ha put that right after we have the [0:06:08, 0:06:11]: A reading of the approval of the minutes from our last meeting. [0:06:12, 0:06:13]: Is there a second? [0:06:14, 0:06:14]: Second. [0:06:15, 0:06:20]: Okay, uh mess I saw Mr. Kopek's hands. You know, he'll uh he's second that motion. Um [0:06:22, 0:06:42]: And then so what all in favor the mo all in favor of this motion, please indicate, raise your hand or speak. Okay, so I got a unanimous decision on that. Okay, fine. So what we'll do is we'll put that at the uh right after uh the um approval of the minutes from December 10th. Um but uh and then before we [0:06:42, 0:06:54]: talk about new business. Okay. And so what is next? And Miss Rainey, can you can you still speak or hear? Can you hear us? I can hear you, but I don't know if you guys can hear me. Yes, we can hear you. [0:06:54, 0:07:02]: Okay, the Okay, all right. So so uh now that you can hear it to so did you take copious notes of of the attendance and who was Yes. [0:07:02, 0:07:04]: You got everybody who's here, right? [0:07:04, 0:07:04]: Yeah. [0:07:05, 0:07:08]: We have four okay, good deal. So what's next would be the [0:07:08, 0:07:09]: approval [0:07:09, 0:07:21]: of the December 10th uh meeting minutes December 10th of 2019 was the last time uh that we met and unfortunately due to the pandemic and things of that nature. Uh so on that note [0:07:22, 0:07:37]: Uh I I I've m hope that you all already received all those minutes and that you read through them and are good with you. So I if that's the case, I need a motion to uh accept uh the uh minutes of December 10th, uh, 2019. [0:07:39, 0:07:39]: Yeah. [0:07:40, 0:07:42]: Okay, Ms. Kopeck, you making a motion on that, sir? [0:07:42, 0:07:46]: Yes, yes. Okay to accept the minutes. Okay. Is there is there a second? [0:07:49, 0:07:57]: Uh Miss Jones second then. Okay, fantastic. Okay. If there's no further discussion, all in favor of approving the minutes from December 10th, 2019, please indicate. [0:07:57, 0:08:17]: Yay, yay. Okay, it's unanimous decision. Fantastic. Okay. Now we'll now we'll talk in in reference the added uh thing here, item here would be in reference to the PFA attorney. Um now in the pre previously, as you had Cineminutes indicated, our attorney was our city attorney for the PFA was the actual city attorney. [0:08:17, 0:08:37]: Mike Williams. And um now what is what has occurred, Mike Williams is no longer the city attorney for the city of Stockbridge. Uh we've hired the city of Stockbridge, it's gone a different direction to hire a different law firm, Bail and Washington, um, in this aspect. Um, but it's up to the PFA if you wanted, even though must Mr. Williams has been familiar with the case and and and [0:08:37, 0:08:54]: and and and working with us, uh, it's up to the PFA whether or not you wanna retain uh Mr. Williams as an independent contractor attorney for the PFA or whether or not you wanna go with the city's attorneys, which is Bell and Washington, which we actually hired as the city attorneys two days ago. [0:08:55, 0:09:15]: And a recommendation for continuity purposes of this of the same process when we had our original city attorney with the PFA would be to go with Bell and Washington as the recommended choice at this time. But it is still up to the PFA to uh make that decision. Uh so I want there are four of us here as a quorum. [0:09:14, 0:09:30]: So I just want to get your ideas and thoughts on whether or not you want to go with the recommended recommended attorneys for the PFA as as for this as the city attorneys, or you want to remain as an independent attorney with Mr. Mike Williams. Any thoughts from yes, yes, Mike, go ahead, sir. [0:09:30, 0:09:44]: Um I just wanted to speak just briefly about that. Um normally normally I would I would suggest that for continuity, as you indicated, there's no reason to have a separate city attorney from the PFA attorney. [0:09:44, 0:09:49]: Um however in this case, you know, I've helped the team advance the ball down to the five yard line and [0:09:50, 0:09:53]: My uh request is that you allow me to uh [0:09:54, 0:09:58]: You know, run the ball over the goal line and and finish this project. [0:09:58, 0:10:11]: There's been a lot that's occurred to this point and there's still some things that need to be get done and I can assist the authority as well as the new city attorneys in finishing this out very smoothly. And so that's my request. [0:10:18, 0:10:38]: You your your own meeting mayor. Yeah, I just I just got it. Thank you very much. Appreciate it. I appreciate it. Um well well uh members of the PFA, I mean what what are your desires? What is your conversation? How how what did you wanna um do with this in this aspect? How do you wanna handle this? Do you wanna stay with Mike Williams or would you wanna go and actually our new attorneys are online right now if [0:10:38, 0:10:47]: if if they're selected, they'll remain online and and Mike would get off or vice versa. But I just wanted to ask you what what are your thoughts? There is a recommendation, but what are your individual thoughts? [0:10:50, 0:10:52]: Mr. Kopeck, is the vice chair, sir? What are your thoughts, sir? [0:10:53, 0:11:11]: My thoughts is uh Mr. Williams has had it, um, has done well with it. And I know his contract didn't get renewed with the city. Um, and then I also go with the recommendation. If the recommendation is to switch to law firms as long as there's you know, continuity, that would be the best uh idea is to follow the recommendation. [0:11:12, 0:11:18]: Okay, so you've you're saying you re follow recommendations, is what your your thoughts are there. Yes. Okay. All right. Ms. Jones, do you have any ideas and thoughts? [0:11:20, 0:11:22]: Um my idea is that um [0:11:23, 0:11:23]: Okay. [0:11:24, 0:11:27]: I I I can't can't can't hear can you turn up your volume, please? [0:11:28, 0:11:28]: Any down? [0:11:29, 0:11:31]: Uh uh could you turn up your volume, please? Okay. [0:11:39, 0:11:42]: Can you hear me now? Okay, so but that's better. Go ahead. [0:11:43, 0:11:47]: Um because of the wheels have problems with me with it. [0:11:49, 0:11:50]: Hello. [0:11:50, 0:11:51]: Okay. [0:11:51, 0:11:56]: Um I have a powerful I think possibly perfectly. [0:11:56, 0:11:57]: Okay. [0:11:57, 0:12:03]: I'm sorry, Ms. Jones. Somehow you you're coming in and out. I I've I've it's hard to hard to hard to hear you, hard to hear what you're saying. [0:12:03, 0:12:04]: Mr. Elson. [0:12:04, 0:12:05]: Is this better? [0:12:06, 0:12:10]: It's a little it's a little better now. I don't know if you're too far back initially or not, but [0:12:10, 0:12:12]: Now now I can't hear you. [0:12:13, 0:12:13]: Yeah. [0:12:13, 0:12:16]: Now now we can. If you stay yes. [0:12:16, 0:12:24]: All right, I was saying that because Mr. Williams has started with us and we are a uh a board, I I would like to continue to work with Mr. Williams. [0:12:25, 0:12:27]: We project in the [0:12:27, 0:12:31]: Now we can say uh he talked about that. [0:12:31, 0:12:32]: What? [0:12:33, 0:12:40]: Okay. So if I understand you right, Miss Jones, you would rather remain with Mr. Williams since he's had the project thus far. Okay. Miss George. [0:12:43, 0:12:44]: Excuse me, you are [0:12:44, 0:13:04]: Yes, sir. Mr. Ebbs. Uh Mr. I've been here the whole time, but for some reason I couldn't talk or anything. But I I was here even before you did the role. Uh but nonetheless, I just want to let you know I am present. I I had to keep logging off to finally get in. Thank you, Mr. Collins. I appreciate that. Uh Miss Rainey, uh could you note it's nine eleven and Mr. Collins has officially [0:13:04, 0:13:17]: join the meeting. Um and uh we're discussing our attorneys right now, uh Mr. Collins. So okay. I I've I've heard it all. I've heard the whole conversation. Since you since you are talking then sir, what are your what are your concerns? What do you what would you like to do? [0:13:18, 0:13:20]: Well uh what what would be [0:13:21, 0:13:25]: any alternative other and and understand that uh of course Mr. Williams is as [0:13:26, 0:13:30]: He's carried the ball as you said to the down to the five yard line, but uh [0:13:31, 0:13:32]: What would be [0:13:33, 0:13:37]: Is there any alternative there? And and that's a question. Is there is there uh [0:13:38, 0:13:42]: uh someone already capable of doing the work or some I mean [0:13:43, 0:14:03]: Well what it amounts to is that the the incoming let me answer this if I can. The inc our incoming law firm uh would be briefed up, has been briefed up and and willing to carry the ball if need be. If that's the decision of the of the public uh facilities authority, they can handle that. They'll be all right. But the point of it is is it's your decision as a group here, there's five of us here, and and whether what you will [0:14:03, 0:14:23]: want to do. I just wanted to uh make sure you understand it and you have you make the decision because it is your decision and and uh in this aspect so it's it's uh and I'm pretty sure all of all the attorneys that are here are very professional individuals so whatever the whatever the the PFA decides we'll move out and move forward and we'll keep and getting this job done. [0:14:23, 0:14:26]: So uh since we are talking, what what are your concerns, sir? [0:14:27, 0:14:35]: Well, no no real concerns other than uh if if if Mr. Williams has been has been paid for the job. [0:14:35, 0:14:39]: Then of course I think he should carry it across the good finish line, if not. [0:14:39, 0:14:41]: And if there is going to be a need to pay. [0:14:41, 0:14:46]: An additional attorney uh to come back and take over pick up where he left off. [0:14:46, 0:14:48]: And of course, I don't like that idea. [0:14:49, 0:15:06]: Okay. Well I I I don't I can't I can't really answer about the payment aspect of th uh thus far that I know off the top of my head, but I mean he Williams has been currently been working that, but the point of it is is whether or not the the the P PFA wants to change this or not or or change what the in if I I I I [0:15:07, 0:15:14]: Okay, then I I then vote to I keep Mr. Williams. Okay. All right. Uh okay. Uh Miss George, your thoughts, please. [0:15:15, 0:15:19]: Um good morning. Morning. Um I too uh had [0:15:20, 0:15:38]: uh questions about um I know that the new attorneys have been briefed up um by uh regarding the the work of the PFA, but um with regard to where we are in the process, I think it would probably be better for continuity to continue with Mr. Williams. [0:15:39, 0:15:40]: Okay. [0:15:40, 0:15:57]: So be it, if that's if that is the case. So uh we've had this discussion. Uh so let's uh let uh Mr. Copet, if if you don't mind, uh we'll put this to an official vote since everybody has spoken in this aspect on whether to retain uh Mr. Williams or go another way. Is that all right with you, sir? [0:15:58, 0:15:58]: Yes, sir. [0:15:59, 0:16:00]: Okay, so um [0:16:01, 0:16:02]: Um [0:16:02, 0:16:21]: I'll I'll tell you what, I'll I'll I'll make the motion this base. Uh I'll make a motion that uh that the PFA would uh retain Mr. Williams uh at this time to finish out this process uh for uh the bond issues that we're dealing with now and versus changing the attorneys. Is there a second to that motion? [0:16:23, 0:16:24]: Can Miss Jones seconds that motion? [0:16:24, 0:16:26]: All in favor of the motion, please indicate. [0:16:28, 0:16:48]: One, two, three. Okay. Uh Mr. Mr. LK4. All right. So so miss so in this case, Mr. Williams, based on the PFA making own independent decision, uh, you will retain be retained as an independent contractor to work with the PFA to work through the process of these bonds. And in the process of that, Mr. Washington and Jen. [0:16:48, 0:17:08]: Jeremy, uh Mr. Berry, um uh the PFA as you were listening, uh made this particular decision to move forward, Mr. Williams. Obviously, you you you will still have involvement. You're still our attorney for the city, and assassin will continue to be so for hopefully many, many years. Um so on that note, um I would I would think that um [0:17:08, 0:17:19]: I don't know if it's really necessary for you. I mean, I don't know if it's necessary for you gentlemen to be online. If you want to continue to be online, I imagine to be fine, but uh in this aspect, if you want to remain, because it deals with the city in this aspect as well. [0:17:20, 0:17:40]: Okay. Um on that note, Mr. Nighton, uh I uh I'd like for you to, if you can, sir, uh before we get a new business, if you can at least introduce uh our uh uh our uh Ed Wall and uh explain his position and things of this nature. And I see Mr. Doug Selby, I don't see him on unless he's on the telephone. [0:17:39, 0:17:55]: I don't see them online here. Um, but uh if you can uh introduce these gentlemen, please, if you can. Or the individual. Sure. Um Doug Selby, his uh bond counsel is not on currently on the line, but Ed Wall is Ed Wall is [0:17:55, 0:17:57]: Our financial advisor. [0:17:57, 0:18:02]: Um and uh he and Mr. Selby and their groups have uh structured everything as it relates to [0:18:03, 0:18:05]: uh the amphitheatre [0:18:05, 0:18:06]: Cultural Arts Center. [0:18:07, 0:18:08]: uh trail [0:18:08, 0:18:11]: програм and also uh the [0:18:11, 0:18:12]: At the [0:18:12, 0:18:14]: uh development of police department. [0:18:14, 0:18:16]: Bond financing. [0:18:16, 0:18:20]: The council has approved uh twenty five milyen dollars. [0:18:20, 0:18:23]: Um for uh the completion of the amphitheater. [0:18:24, 0:18:26]: Um for a cultural arts center. [0:18:26, 0:18:30]: Um and uh a trail uh program. [0:18:30, 0:18:33]: uh as well as the beginning of a police department. [0:18:33, 0:18:37]: Севен мільйон формтеатр комплечь. [0:18:37, 0:18:39]: Fourteen miljon for cultural art center. [0:18:40, 0:18:42]: One million for trail program. [0:18:42, 0:18:47]: And three million for the start of a police department, a city police department. [0:18:48, 0:18:49]: Which was approved by the council. [0:18:50, 0:18:56]: By virtue of that, the financial advisor and again the bond council have structured how those bonds [0:18:56, 0:18:59]: Three series of bonds a series A, B, and C. [0:18:59, 0:19:03]: Um, how that would be structured and how uh they could move forward. [0:19:03, 0:19:06]: based on interest rates and financing. [0:19:06, 0:19:10]: uh over the next uh several years, including about fifteen years total. [0:19:10, 0:19:15]: Mister Wall is here. Uh, he certainly can uh provide you with uh details. [0:19:16, 0:19:20]: Of what is being requested of you as a public facilities authority. [0:19:21, 0:19:23]: as it relates to uh bond financing. [0:19:24, 0:19:25]: Mr. Wall. [0:19:25, 0:19:30]: Thank you very much, Mr. Knight. And I see down at the bottom there's a 404-888 number. [0:19:30, 0:19:35]: That's uh hunt and curse number. Is that you, Ben, or is it Doug? [0:19:36, 0:19:37]: Whoever it is is on mute. [0:19:41, 0:19:43]: The eight eight eight four oh one seven. [0:19:47, 0:19:48]: How? [0:19:49, 0:19:58]: whoever it is they ain't showing themselves. But I think that's Hunt and Curse number. But anyhow, Doug Selby is a bond lawyer. He's drafted up the paperwork that you all are um [0:19:58, 0:20:15]: um to consider this morning. Uh I'm Ed Wall. I'm your financial advisor. Uh I handle uh crunching all the numbers and um finding the buyer for the bonds. Uh you have before you a bond resolution this morning to approve the issuance of three series of bonds. And um [0:20:16, 0:20:18]: We've uh sold them to Truist Bank. [0:20:18, 0:20:22]: And um the series A bonds are four year maturity. [0:20:23, 0:20:29]: Um it funds the amphitheater for seven million and two point eight million of the cultural arts center. [0:20:30, 0:20:33]: It's four year maturity because it's gonna be paid from splash to five. [0:20:34, 0:20:35]: And um [0:20:35, 0:20:38]: The interest rate on it is one point three two percent. [0:20:38, 0:20:42]: You have before you a series B bond issue for one million. [0:20:43, 0:20:47]: That bond issue is for the portion of the trail network. [0:20:47, 0:20:52]: It's four years payable from splos five. The interest rate's one point oh four percent. [0:20:54, 0:20:56]: And then you have a series C bond issue. [0:20:57, 0:21:00]: This the rest of the cultural arts center, eleven million in change. [0:21:01, 0:21:03]: It is three million for police equipment. [0:21:04, 0:21:08]: It is a fifteen year bond issue payable from the general fund. [0:21:09, 0:21:12]: It has an interest rate of two point five three percent. [0:21:13, 0:21:17]: And you have the right after five years to prepay it without any penalty. [0:21:17, 0:21:24]: And the reason we did it that way is when you vote splot six, you may want to include this project in splot six and pay it off early. [0:21:24, 0:21:27]: And we fixed it up so you would do it without any prepayment penalty. [0:21:28, 0:21:33]: And uh with that I'd turn it over to Mike who can talk about any specifics y'all might have. [0:21:34, 0:21:40]: Yeah, I'm it I'm Mr. Mayor Doug Selby is on the line now, too. How you doing, Mr. Selby? [0:21:40, 0:21:51]: I'm fine. I'm sorry. I was on the line, but you couldn't hear me for some reason. I was speaking and it just couldn't the audio didn't come through. So I joined another way. Thank you. Great. I thought it was you, Doug. [0:21:52, 0:21:57]: Yeah, I think Ben is on as well, but I think he may be in the same situation, can't speak for some reason. [0:21:58, 0:21:58]: Okay. [0:21:59, 0:21:59]: All right. [0:22:00, 0:22:12]: Is anything that right now? Mr. Mayor, I Okay, good. Doug is probably in a position to answer some of the questions that you may have. I would just observe that when we put the agenda together, we have the [0:22:12, 0:22:18]: uh individual series of bonds listed individually, but the bond resolution as drafted [0:22:19, 0:22:25]: Um covers all three series of bonds as well as the uh forms of the intergovernmental agreements with the city. [0:22:25, 0:22:26]: Um and and [0:22:27, 0:22:30]: the the it's structured as a lease agreement. So the [0:22:31, 0:22:34]: Title to the facilities will be in the name of [0:22:34, 0:22:45]: the public facilities authority, um, pursuant to a lease with the city and the and the lease payment obligations are sufficient to pay debt service on the bonds. And so [0:22:45, 0:22:52]: Um, all you will need is one vote on the bond resolution uh for this morning. [0:22:53, 0:22:53]: Okay. [0:22:54, 0:22:55]: All right, thank you for [0:22:55, 0:23:02]: What okay, so that'd be one vote for all okay, make sure I understand one vote for all three. Is that what you're getting? All right, Mr. Selby. [0:23:03, 0:23:13]: Did you add anything else, sir? Go ahead. No no, not nothing else to add other than uh, you know, the the resolution as as Mr. Williams has indicated would cover and approve. [0:23:13, 0:23:29]: uh the issuance of the bonds and the execution and delivery of intergovernmental agreements, each of which is attached to the bond resolution with the one vote. In terms of the process from this point forward, [0:23:29, 0:23:46]: Once this resolution is adopted, uh we would ask uh that we be able to work with the PFA attorney in commencing validation proceedings in the superior court. That will take approximately three weeks, after which time we'll be in a position to close. [0:23:47, 0:23:58]: Uh there'll be a series of closing documents and certificates that will have to be delivered. Um we'll need legal opinions, one from the city, one from DDA's council, and one from my firm. [0:23:58, 0:24:01]: А вели від респект то entire transaction. [0:24:01, 0:24:09]: There one series of these bonds is tax exempt. So there'll be a tax certificate that we'll also need to have executed and delivered. [0:24:09, 0:24:14]: But with that, um I you know I think this this resolution approves. [0:24:14, 0:24:22]: Final rates. So the rates that are set forth in the agreement are the ones that are going to be approved, and I'm available to answer answer any questions. [0:24:23, 0:24:29]: Absolutely. Uh thank you, Mr. Shelby and Mr. Wall, uh and and Mike here. Okay. So [0:24:30, 0:24:38]: Commission. I mean, do what kind of questions, Mr. Colpick, anybody questions you have for these gentlemen questions that you may have before we take this uh of official vote? [0:24:39, 0:24:42]: And questions of concerns, things that you may be unc uncertain about. [0:24:44, 0:24:52]: Yeah, on on bond C, the uh interest rates uh a little bit higher than the others. Is that because of the 15 year mark with the five year kick out? [0:24:52, 0:24:53]: Yes, sir. [0:24:53, 0:24:54]: That's it exactly. [0:24:57, 0:24:58]: Anybody else? [0:24:58, 0:25:13]: And the last thing step at the yield curve was flat throughout 2019, 2020. Starting in January, the yield curve started to rise. And so the long term is now a little bit higher than the short term. And you can see that's the difference between four years and 15 years. [0:25:18, 0:25:19]: Any other questions from the commission? [0:25:20, 0:25:23]: Before Ms. Jones, any questions or concerns that you have? [0:25:26, 0:25:28]: Ms. George, Mr. Collins, anything at all? [0:25:31, 0:25:32]: Okay. [0:25:32, 0:25:34]: Mr. Walls, Doug, anything else you need to add? [0:25:36, 0:25:37]: No [0:25:37, 0:25:38]: Nope no no mayor. [0:25:39, 0:25:41]: I think Mr. Robert had one more question. [0:25:42, 0:25:43]: Yeah, Cope. Go ahead, sir. [0:25:43, 0:25:47]: Yeah, reading through the trails, it said basically that um [0:25:48, 0:26:01]: entered in any agreement to make sure they're completed, but that we still would be able to make the pick the best person or get bids out on those. We're just not locked in the uh open checkbook on that, right? [0:26:02, 0:26:05]: Mike seems to be shaking his head, yes. Okay. [0:26:06, 0:26:06]: Okay. [0:26:07, 0:26:08]: I'm good then. [0:26:09, 0:26:09]: All right. [0:26:10, 0:26:25]: All right. So if there are no questions, no other questions, concerns, um, then we need a motion on the floor. And and Mike, could you draft that idea for that motion so we can get this accurate for everybody a clear complete understanding that Miss Rainey has it written down properly? [0:26:26, 0:26:36]: So Mayor, um a motion would be in order to adopt the bond resolution authorizing the issuance of the twenty twenty-one A, twenty twenty-one B, twenty-one. [0:26:37, 0:26:41]: Twenty twenty one C bond issues as presented to the PFA board this morning. [0:26:42, 0:26:43]: Okay. [0:26:44, 0:26:51]: So um I'll tell you what, since you made it, I'll say so moved. Okay. And then I need a second. [0:26:53, 0:27:03]: Uh okay. Ms. Mr. Copeck's hand was up quicker than yours, Mr. Collins. That's all there. Mr. Copec second that. Okay. Any further discussion at all on this on this at all? [0:27:04, 0:27:07]: No further discussion. All in favor of the of the uh motion, please indicate. [0:27:08, 0:27:12]: Okay, everybody's good? She now she says outstanding. All right. [0:27:12, 0:27:13]: Good deal. [0:27:13, 0:27:22]: Um that should make everybody pleased and happy as we move continue to move forward. Um, are there any other issues or concerns or things we need to do this morning? [0:27:22, 0:27:32]: Yes, Mr. Mr. Mayor, um I was remiss in uh offering uh my uh gratitude to the board for your continued uh confidence and I look forward to finishing this project. [0:27:33, 0:27:36]: Good deal. They hear you and they they um they acknowledge that, sir. Good deal. [0:27:37, 0:27:50]: Any other any other closing comments for anybody else before we adjourn the meeting? Because no need to go in the executive session. Uh Doug or Ed, anything else that we need to go before we we close out? No, sir. Very quick meeting. Uh okay. [0:27:50, 0:27:59]: Well, thank you, folks. I appreciate it. Uh like to adjourn the meetings. No other questions, we'll adjourn the meeting. It's roughly what uh uh I have nine twenty six. So outstanding. [0:27:59, 0:28:04]: God bless y'all. We're gonna continue forward. All right, thank you. I mean bye brother. Goodbye. [0:28:04, 0:28:05]: Thank you.