CITY OF PICKERINGTON

FINANCE COMMITTEE OF COUNCIL

CITY HALL, 100 LOCKVILLE ROAD

MONDAY, MAY 5, 2003

6:45 P.M.

SPECIAL MEETING AGENDA

1. ROLL CALL. Mr. Wright called the meeting to order at 6:45 P.M. with Mr. Wright, Mr. Fox, and Mr. Parker present. No members were absent. Others present were: Lynda Yartin.

2. SCHEDULED MATTERS:

A. Review and request for motion to approve draft ordinance authorizing the issuance of not to exceed $3,500,000 of bonds for the purpose of paying part of the cost of refunding the city’s water system improvement bonds, Series 1994, dated as of April 1, 1994, and wastewater treatment plant improvement bonds, Series 1995, dated as of August 1, 1995, and matters related to such bonds. Mr. Wright stated the Committee had reviewed this issue at their last regular meeting, and a work session had been held on May 1, 2003, to allow all council members the opportunity to ask any questions they may have on this issue. Mr. Wright further stated he had discussed this with the Finance Director and it was her recommendation that there be at least a four percent savings for the City before she would authorize this transaction. Mr. Parker moved to forward the legislation to Council with the amount of savings resulting from the refunding being four percent; Mr. Fox seconded the motion. Roll call was taken with Mr. Parker, Mr. Wright, and Mr. Fox voting “Yea.” Motion passed, 3-0.

B. Review and request for motion to authorize the City Manager to file application with the Ohio Emergency Management Agency for reimbursement of costs related to snow removal in February 2003. Mr. Parker moved to authorize the City Manager to file the application; Mr. Fox seconded the motion. Roll call was taken with Mr. Fox, Mr. Parker, and Mr. Wright voting “Yea.” Motion passed, 3-0.

3. ADJOURNMENT. There being nothing further to bring forward at the special meeting, Mr. Fox moved to adjourn; Mr. Parker seconded the motion. Mr. Parker, Mr. Fox, and Mr. Wright voted “Aye.” Motion carried, 3-0. The Special Finance Committee of Council adjourned at 7:50 P.M., May 5, 2003.

RESPECTFULLY SUBMITTED:

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Lynda D. Yartin, Municipal Clerk