06/12/1985 Meeting - Laserfiche WebLink

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B. Finance Resolutions (memo, resolutions attached to agenda) e City Manager Micheal Gleason introduced the agenda item. Finance Director Warren Wong gave the staff report. He said Resolution No. 3924 authorizes the issuance of $5 million tax anticipation notes to First Interstate Bank which submitted the low bid. The interest rate is about 5.6 percent. The notes are budgeted in the FY86 Budget the council will consider for approval on June 24, 1985. The notes will cover the cash flow deficit caused by property tax turn- over schedule. Mr. Wong said Resolution No. 3925 authorizes access to the City's bank accounts to Northwestern National Life Insurance Company, the City's new insurance carrier. Res. No. 3924--A resolution authorizing the issuance of tax anticipation notes. Res. No. 3925--A resolution designating those authorized to sign checks on behalf of the City of Eugene; authorizing automated clearinghouse debits; designating those authorized to sign grant appli- cations, bonds, contracts, etc., on behalf of the City; repealing Resolution No. 3872; and declaring an emergency. Ms. Hansen moved, seconded by Ms. Schue, to adopt the resolu- e tions. Roll call vote; the motion carried unanimously, 7:0. III. COMMUNITY PRESENTATION CONCERNING BACH FESTIVAL Ms. Bascom introduced Royce Saltzman, Director of the Oregon Bach Festival. Dr. Saltzman initiated the festival with Helmuth Rilling, Artistic Director of the festival. Ms. Bascom said there will be three, free concerts each week of the festival. They will be at noon in the lobby of the Hu1t Center and will make the center available to all Eugeneans. She said Mr. Saltzman was one of the first people to see the potential of the lobby. Mr. Saltzman said this is the 16th year of the festival. There will be 32 concerts in the two weeks this year. One of the philosophical concepts of the Bach Festival is that it should be accessible to everyone. The tickets for the afternoon concerts at 5:15 pm are $1.50 for seniors and students and $3.50 for the general public. The orchestra, chorus, and internationally known soloists will participate in the concerts at which Mr. Rilling will conduct and lecture. This year there will be 15 evening concerts. The Eugene Opera and the Eugene Ballet will present children's concerts. The orchestra and chorus will present two concerts in the Hollywood Bowl. About 35 percent of the ticket sales for the Bach Festival are to people out- side of the Eugene/Springfield area and about 10 percent are sold to people outside Oregon, Mr. Saltzman reported. e MINUTES--Eugene City Council June 12, 1985 Page 3