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HomeMy Public PortalAbout11/17/1998 specialCity of Greencastle City Hall ® Four East Walnut Street Greencastle, Indiana 46135 Pamela S. Jones Clerk- Treasurer GREENCASTLE COMMON COUNCIL SPECIAL SESSION TUESDAY, NOVEMBER 17,1998 4:00 P.M. FIRE DEPARTMENT The Greencastle Common Council met in Special Session, Tuesday, November 17, 1998, 4:00 p.m. at the City Fire Department. Mayor Michael called the meeting to order at 4:10 p.m. On the Roll Call, the following were found to be present: Councilor Roach, Councilor Hammer, Councilor Baynard and Councilor Masten. Councilor Green was absent. Also present was City Attorney Trudy Selvia, City Engineer Ron Smith, Tom Pitman - Baker and Daniels Law Firm and Jim Higgin - London Witte Group - Financial Advisors. Ordinance 1998 -28, An Ordinance Authorizing the Acquisition, Construction, and Installation by the City of Greencastle, Indiana, of Certain Improvements and Extensions to the City's Sewage Works, the Issuance and Sale of Revenue Bonds to Provide Funds for the Payment of the Costs Thereof, the Issuance and Sale of Bond Anticipation Notes in Anticipation of the Issuance and Sale of Such Bonds, and the Collection, Segregation and Distribution of the Revenues of Such ® Sewage Works and Other Related Matters, second reading. Tom Pitman, gave a brief overview statine this Ordinance allows the City to negotiate with local banks for interim financing regarding the Southside Interceptor and the new Sewage Facility. Closing on the interim financing is anticipated for mid - December. Jim Higgins - London Witte Group, Financial Advisors for the Project, stated once the 20 day remonstrance period is over without 40 or more citizens bringing a Petition stating they disagree with the interim financing, local banks will receive a Request for Proposal for the interim financing. Mr. Higgins stated the bond ordinance caps interest at 5.5 %, but sees more of a 44-1/2% interest rate. The funds will be on a draw basis, therefore, no interest will be accrued until the money is drawn. Motion to accept Ordinance 1998 -28, second reading, made by Councilor Roach, seconded by Councilor Hammer. Vote was unanimous. Ordinance 1998 -27, An Ordinance Amending Section 8 -30 of Greencastle City Code Schedule of On- Street Reserved Handicapped Parking Spaces, first reading. Leslie Hansen, representing Mainstreet and Mary Fielding were present for this discussion. Mayor Michael stated this Ordinance reflects a change on Washington Street, being one space on the south side of Washington Street immediately east of the intersection of Washington and Jackson Street. Indiana Street and Washington Street were discussed at the November 10th Council meeting and after speaking with Mary Fielding, it is obvious that the Washington Street space makes more sense for those who will be using this space. Councilor Roach questioned the turning radius and questioned if we would be putting anyone in harms way by placing a handicap space there. City Engineer Ron Smith stated he has checked out the turning radius and feels confident this will work safely. ® Motion to approve Ordinance 1998 -27, first reading, made by Councilor Roach, seconded by Councilor Hammer. Vote was unanimous. • Motion to adjourn made by Councilor Hammer, seconded by Councilor Roach. Vote was unanimous. Nancy A. I ael, Mayor ATTFfaT: Pamela S. Jones, Cl�rkMeasurer •