Item 2A: Approval of City Council Minutes

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Million Dollars ($46,000,000) For the Purposes of Refinancing Improvements to the Elec- tric Utility System and Providing for Related Matters E. Adoption of Resolution 4937 Authorizing Interim and Long Term Financing for Local Im- provement Projects and Terminating the Authority under Resolution No. 4807 F. Ratification of Intergovernmental Relations Committee Actions of February 5, 2008, and February 13, 2008 G. Approval of Eugene 08 Neighborhood Grants Councilor Pryor, seconded by Councilor Bettman, moved to approve the items on the Con- sent Calendar. Councilor Bettman noted she had submitted corrections to the minutes. She pulled Items C, D, E, and F. Mayor Piercy deemed the corrections to the minutes, without objection, approved. Roll call vote; the Consent Calendar with the exception of Items C, D, E, and F, passed unanimously, 7:0. Councilor Bettman stated that $36 million had been approved in 1999, and $21.4 million had been spent to date, and in 2002, $11 million had been approved and $10 million had been spent to date. She asked if reissuing the bond, as per Consent Calendar Item C, would re-extend the deadline. Sue Cutsogeorge, Financial Analysis Manager for the Central Services Department, responded that the deadline was from the time of issuance of the bonds. Councilor Bettman ascertained from Ms. Cutsogeorge that there was no 30-year timeframe on the bonds. She said the thing that was missing for her was a project list of what the money would be spent on. She could not support the bond. Cathy Bloom, Finance Manager for EWEB, explained that the money would be used for capital improve- ments to the aging infrastructure, the Hayden Bridge filtration plant expansion and enhancements, and the replacement of water mains. Councilor Bettman reiterated her desire for a list of projects. Councilor Zelenka ascertained from Ms. Bloom that the electric system bonds were existing bonds that were already embedded in the rates. He asked if the purpose of this action was to help lower costs and stabilize rates. Ms. Bloom confirmed this was the purpose. Councilor Zelenka asked if the projects the water bonds were intended to pay for were in EWEB’s Capital Improvement Program (CIP). Ms. Bloom affirmed that they were. She said every year as part of the budgeting process they developed what the capital costs were currently, and would be for the next year, and for the next four years. She stressed that this was part of the public process when they adopted the budget. Councilor Zelenka pointed out that EWEB Commissioners were elected and if someone did not like how things were going the ultimate accountability was being “un-elected.” Roll call vote; the motion passed 5:2; councilors Bettman and Taylor voting in opposition. MINUTES—Eugene City Council April 14, 2008 Page 7 Regular Meeting