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FINANCE COMMITTEE
CITY HALL, 100 LOCKVILLE ROAD
TUESDAY, NOVEMBER 2, 2021

SPECIAL MEETING MINUTES
7:20 P.M.
             
   1. ROLL CALL

Mr. Barletta called the meeting to order at 7:20 PM.
 
Present: Mrs. Sanders; Mrs. Rohaly; Mr. Romine; Mr. Barletta; Mr. Wisniewski; Mrs. Hicks
Absent: Mr. Derksen
Others Present: Mayor Gray; Greg Butcher; Chris Schornack; Phil Hartmann; Heather Moore; and others
             
   2. SCHEDULED MATTER
             
   A. Review and request for a motion to approve a draft ordinance providing for the issuance and sale of bonds in the maximum principal amount of $2,975,000, for the purpose of paying the costs of refunding bonds previously issued by the city for the purpose of refunding a loan from the Ohio State Infrastructure Bank incurred for the purpose of paying part of the costs of constructing the northern extension to Diley Road in the municipality

Mr. Schornack stated that a portion of our 2012 various purpose bonds is eligible to be refinanced (also referred to as an advanced refunder) and in working with our municipal advisor and bond counsel we would like to have the legislation moved forward to council and request three readings this evening. He continued that by refinancing we are looking at a savings of $20,000 a year or $200,000 over ten years.
             
  Moved by Mr. Romine to approve and forward to Council, seconded by Mrs. Rohaly

 
Yes: Mrs. Hicks, Mrs. Rohaly, Mr. Wisniewski, Mr. Barletta, Mr. Romine, Mrs. Sanders
6 - 0 Passed
             
   3. OTHER BUSINESS

Mr. Barletta stated he would like to schedule Finance Committee Budget Work Sessions for November 15, 2021 at 6:00 P.M., November 16, 2021 at 6:00 P.M., and November 17, 2021 at 6:00 P.M.
             
   4. ADJOURNMENT
             
  Moved by Mr. Barletta to adjourn, seconded by Mr. Romine

 
Yes: Mr. Wisniewski, Mrs. Hicks, Mr. Barletta, Mr. Romine, Mrs. Rohaly, Mrs. Sanders
6 - 0 Passed
  The Special Finance Committee adjourned at 7:23 P.M., November 2, 2021.
RESPECTFULLY SUBMITTED:


__________________________
Heather Moore, City Clerk

    

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