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<br /> said it was recommended that the one percent for art be deleted. Ms. <br /> Schue said if the one percent for art was deleted, it would require an <br />e ordinance change and could result in community dissatisfaction. <br /> It was agreed to hold a meeting and public hearing on this subject on <br /> December 15. The subcommittee will finalize its recommendations and will <br /> provide information on the up-front cash and the means to service the debt <br /> by that date. <br /> Ms. Bascom said that she would like the pros and cons discussed on the 30 <br /> feet of the ticket lobby to provide for the fifth airline. Mr. Hansen <br /> said that if the fifth ticket bay is not built it will limit the growth <br /> capacity of the airport in the future. Mr. Rutan said that the bid could <br /> be structured to reflect that the 30 feet of the ticket lobby may be cut <br /> from the proposal at a later date. Mr. Hansen said that he thought it was <br /> important to decide whether this would be a five-airline project or not <br /> from the beginning of the project. <br /> Mr. Holmer expressed his support to the subcommittee on the project, but <br /> asked for the assurance that the City does not face a property tax when <br /> the general obligation revenue bond issue goes to the voters in March. He <br /> suggested looking to the Ilbeginning working capital fund II of $7 million to <br /> reduce the amount of the required bond issue. It would also give much <br /> greater assurance to the voters that property taxes would not be required <br /> to payoff the bond issue. The City could then go to the voters with a <br /> revenue-backed general obligation bond that will not have'any possibility <br /> of bei ng subject to a property tax. He said the City could begin <br /> restoring that beginning operating capital fund just as the staff <br />e recommendation is that the City pay back the bonds out of the funds that <br /> the City would otherwise put in the beginning operating capital. He said <br /> that the airport project should be viewed as one that the City wants <br /> adopted without a hazard of a property tax so that when the counci 1 <br /> considers the possible library expansion, it will have the option of <br /> levying a property tax for that purpose. Mr. Holmer's recommendation will <br /> be evaluated and the councilors will hear the merits of this suggestion. <br /> Ms. Schue said that she is pleased with the work done by the Airport <br /> Commission, council subcommittee and staff. She said she likes the idea <br /> of the general obligation revenue bond and is pleased that the issue will <br /> go to the voters. Ms. Schue said she wants the one percent towards art <br /> included in the project. <br /> Mr. Rutan said that staff was initially asked to come back with a proposal <br /> that would be totally internally funded with no possibility of an <br /> obligation onto property taxes. He said the subcommittee chose to present <br /> a combination proposal. He discussed the certificates of participation <br /> and asked if the City Council was interested in exploring the certificate <br /> of participation in the context Mr. Holmer referenced or a portion <br /> thereof. <br /> Mr. Miller said he would like to see the feasibility of having the porte <br /> cochere and the 30 feet of ticket counter space be alternate bids without <br />e MINUTES--Eugene City Council Dinner Session November 17, 1986 Page 6 <br />