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Finance Committee Minutes November 7, 2017 <br />G. Park and Fire Impact Fees Legislative Process <br />Staff is seeking Committee approval to take all the fire and park impact fee -related legislation <br />through the Finance Committee for continuity of discussion. There will be three ordinances and <br />one resolution resulting from the project, which Berk Consulting is concluding. The Finance <br />Committee will be briefed on the legislation on November 21. UNANIMOUS APPROVAL. <br />H. Public Safety Plan Public Works Shops Facility Financing <br />Staff updated the Committee on the next steps regarding financing for the Public Works Shops <br />building in the Public Safety Plan. The shops financing will be accomplished through the <br />issuance of LTGO bonds with 50% of the debt service paid by the General Fund and 50% paid <br />by the utility funds. The project timeline anticipates the site acquisition to occur during first <br />quarter 2018 at an estimated cost of up to $15 million. To accomplish this financing the City <br />must consider interfund loans or a short term bank loan. The City's bond counsel is preparing <br />an ordinance that incorporates financing options for the Committee's review on November 21. <br />DISCUSSION ONLY. <br />III. MISCELLANEOUS <br />Adjourned at 7:05 p.m. <br />Committee Chair Approval <br />Mih`utes by LH <br />