DRAFT CC Packet 2022.03.15 Public4.RESOLUTION: To Vacate a Portion of the Unimproved Yarbrough Right-Of-Way.
(Sponsored By: Councilor Jackson)
5.RESOLUTION: To Grant a Lounge Retail Liquor-Class I License for Cloud 9 Hookah
Lounge. (Sponsored By: Council President Starnes)
6.RESOLUTION: To Authorize the Mayor to Enter into an Agreement with Sain Associates
to Develop a Bicycle and Pedes trian Plan at a Total Cost Not to Exceed $150,000.00 (Net Cost
to City Not to Exceed $30,000.00). (Sponsored By: Council President Starnes)
7.ORDINANCE: To Amend the City of Prattville Code of Ordinances, Chapter 66 -Utilities,
Article I. -In General, Sec. 66-1. -Waterworks Boa rd; to Amend Article Ill. -Sewers and
Sewage Disposal, Division 5. -Prohibited Discharges, Sec. 66-211. -Fats, Oils and Grease
Control; to Adopt Sec. 66-212; to Amend Division 9. -Enforcement and Penalties, Sec. 66-
326.-Punishment of Violators; and to Adopt Secs. 66-327 -66-330. (Sponsored By: Council
President Starnes)
8.ORDINANCE: To Amend the Stormwater Illicit Discharge Detection and Elimination (IDDE)
Procedures in Compliance with the City of Prattville's National Pollutant Discharge Elimination
Systems (NPDES) Permit. (Sponsored By: Council President Starnes)
9.ORDINANCE: To Amend the Post Const ruction Stormwater Management Procedures in
Compliance with the City of Prattville's National Pollutant Discharge Elimination Systems
(NPDES) Permit. (Sponsored By: Council President Starnes)
10.0RDINANCE: To Establish Regulations for the Lateral Rehabilitation Assistance Program.
(Sponsored By: Council President Starnes)
11.RESOLUTION: To Amend the FY2022 Budget-and to Authorize the Release of Funds for
the Purchase of P25 L3 Harris Portable and MobileRadios through State Contract#
T3004020005 from Communications International, Inc. for the Fire and Police Departments at
a Net Cost Not to Exceed $812,767.33. (Sponsored By: Council President Starnes)
12. ORDINANCE: To Amend City of Prattville Code. of Ordinances, Chapter 2 -Administration,
Article V, Investment o_f Municipal Funds. (Sponsored By: Council President Starnes)
13. RESOLUTION: To Amend the FY2022 Budget and to Authorize the Mayor to Enter into
an Agreement with Civil Southeast LLC for Professional Engineering and Architectural
Design Services for Stanley Jensen Stadium Improvements for the Parks and Recreation
Department at a Net Cost Not to Exceed $694,000.00. (Sponsored By: Councilor Strichik)
14.0RDINANCE: To Adopt City of Prattville Code of Ordinances, Chapter 50, Article Ill,
Division 1, Secs. 51 -54 -Loitering. (Sponsored By: Council President Starnes)
15.RESOLUTION: To Authorize the Mayor to Enter into an Amended Agreement with Pratt
Mill Properties LLC to Purchase Property for the Parks and Recreation Department at a Net
Cost Not to Exceed $975,000.00. (Sponsored By: Councilor Strichik)
COMMENTS FROM PERSONS PRESENT:
CLOSING COMMENTS:
ADJOURN:
The next City Council meeting is scheduled for Tuesday, April 5, 2022, at 6:00 p.m.
1 towards the debt service of other public entities; and revenue securities issued for the purpose
2 of extending, enlarging or improving water, electric, gas or sewer systems and payable solely
3 from the revenue of one or more of such systems.
4
5 The City has established the following target limitations:
6
7 Target limitation on General Obligation Indebtedness: The City shall, as a matter of policy,
8 strive to manage its finances so that the amount of direct, general obligation, indebtedness and
9 full faith and credit lease purchase obligations outstanding at any time applicable to the
10 Constitutional Debt Limit does not exceed ( 10%) of the assessed property value of real and
11 personal property in the City. Furthermore, the City shall strive to limit the annual debt service
12 requirements on these obligations to an amount not greater than ( 10%) of annual General Fund
13 revenues. These limitations apply to debt obligations issued with a specific pledge of the City's
14 General Fund, obligations secured by a pledge of the City's full faith and credit, obligations that
15 are secured by available general funds, and which are not self-supporting, or which are paid
16 for from General Fund monies. Also included within this limitation are any other loan
17 agreements entered into directly by the City or secured indirectly by a pledge of the City's
18 General Fund.
19
20 Target Limitations on Lease-Purchase Financing of Equipment and Furnishings. The
21 City may enter into short-term lease-purchase obligations to finance the acquisition of capital
22 equipment and furnishings with estimated useful lives of less than ten years. Outstanding
23 lease-purchase obligations issued to finance capital equipment and furnishings shall not
24 exceed 0.125% of the estimated market value of real and personal property located in the City.
25 Repayment of these lease-purchase obligations shall occur over a period not to exceed the
26 estimated useful life of the underlying asset or in any case, no longer than ten years from the
27 issue date of such obligations.
28
29 IV.Types of Debt
30
31 Long Term Debt:
32 Depending on the specific circumstances, the City may use the following types of long-term
33 (long-term is defined as having a term of more than one· year) financing instruments:
34
35 A.General Obligation Bonds and Warrants: The City may issue bonds and warrants
36 payable from its general revenues.
37 B.Revenue Bonds and Warrants: The City may issue bonds secured by a specific revenue
38 stream.
39 C.Master Lease Agreements: The City may enter into a lease agreement with a provider,
40 or bank, to lease equipment. The terms of the lease should coincide with the life of the
41 equipment to be leased and a tax-exempt rate shall be sought. The City will strive to
42 obtain the lowest rate possible using competitive bidding or current market analysis.
43 D.Pooled Financing: If it is financially or strategically beneficial, the City may participate
44 in debt pools with other entities and low-interest loans from state agencies or other
45 organizations on either a long-term or a short-term basis. The structure of any such
46 pool shall be extensively evaluated to identify any potential risks to the City.
47
48 Short-Term and Interim Debt:
49 Short-term obligations (those due in less than one year) may be issued in anticipation of
50 particular revenues such as taxes or grants, and such revenue may be pledged for repayment
51 of the debt issuance. Short-term debt may also be issued to finance projects or portions of
52 projects for which the City ultimately intends to issue long-term debt. Under certain other
53 circumstances, short-term obligations may be warranted upon the recommendation of the
54 Finance Director.
55
56 Interim financing may be appropriate when long-term interest rates are expected to decline in
57 the future. In addition, some forms of short-term obligations can be obtained quicker than long-
58 term financing can be obtained. Short-term obligations include:
59
60 A.Line of Credit: The City may establish tax-exempt or taxable lines of credit with financial
61 institutions or other providers. Draws shall be made on the line of credit when the need
62 for financing is so urgent that time does not permit the issuance of long-term debt or the
63 need for financing is so small that the total cost of issuance of long-term debt would be
64 prohibitive.