HomeMy WebLinkAbout2016-11-01-minutes-public-finance-management-2016-11-01 MINUTES 1
COMMISSIONERS' MINUTES
KITTITAS COUNTY, WASHINGTON
COMMISSIONERS CONFERENCE ROOM
SPECIAL MEETING
TUESDAY 3:00 P.M. NOVEMBER 1, 2016
Board members present: Chairman Obie O’Brien; Commissioner Paul
Jewell; and Commissioner Laura Osiadacz.
Others: Julie Kjorsvik, Clerk of the Board; Judy Pless, Budget &
Finance Manager; Jerry Pettit, Auditor; Duncan Brown, Public
Finance Management Group; and Brett Wachsmith, Treasurer.
SPECIAL MEETING PUBLIC FINANCE MANAGEMENT COMMISSIONERS
At 3:00 p.m. Chairman O’Brien opened a Special Meeting to
discuss Bond planning and financing for various County projects.
Duncan Brown, Senior Managing Consultant for the Public Finance
Management Group, provided information on whether or not to
issue bonds to finance various projects including the purchase
of water banks; the purchase of a mobile home park; improvements
to the rodeo arena; and improvements to the County Jail HVAC
system. He compared information on two financial options for
consideration including commercial versus bond. They recommended
a dual track approach and noted the Resolution which the Board
will consider in the middle of November would allow for both.
Mr. Brown reviewed the estimated annual debt service; key dates
in financing; and market updates.
Commissioner Jewell noted the cost for the barns project at the
Fairgrounds is to be included with the rodeo arena project and
said they do not know what the cost of that will be yet. He did
not want to commit to anything at this time as there are too
many unknowns. The Board did not want to include the $500,000.00
debt for the engineering study of the rodeo arena project.
The Board of County Commissioners authorized to send out a
Request for Proposals and bring the information back to them at
a later date; and to submit a Resolution for their consideration
at the November 15, 2016 Agenda.
The meeting was adjourned at 3:45 p.m.
2016-11-01 MINUTES 2
KITTITAS COUNTY COMMISSIONERS
CLERK OF THE BOARD KITTITAS COUNTY, WASHINGTON
Julie Kjorsvik Obie O’Brien, Chairman