12/17/1986 Meeting - Laserfiche WebLink

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different resolutions. However, resolutions can express the intent of the council and they can create policy. e Mr. Hansen said he supports letting the citizens vote on the proposal. He said paying the debt service with $550,000 from existing revenues probably will affect other City services to some degree but it will also create additional value which will result in additional revenues. He said the City's economy probably will not grow much if the airport is not improved. He said he does not support raising property taxes to pay the debt service. Mr. Hansen suggested the following addition to Section 1 of the proposed resolution (underlined material should be added): . . . Revenue-Backed General Obligation Bond measure passed by the voters be placed as a top priority in the capital improvement budget annually for at least five years and thereafter be paid from the following sources, in the following priority: Ms. Wooten said she supports the airport improvement but its financing has been vexing. She said she supports the airport expansion to improve the handling of freight and cargo, to assist manufacturers, to provide a service for new busi nesses, and to improve passenger service. She said she is committed to a customs station at the airport and a foreign trade zone. Ms. Wooten said she will support the funds to continue the airport expansion until the March 31, 1987, vote. She will also support the use of $1.1 up-front . money to reduce the amount borrowed. She said she does not understand how the City will pay $550,000 debt service from existing revenues without decreasing e city services. She said she regrets submitting to the voters a proposal for bonds that will be backed by property taxes that will add $13 annually to the taxes on a $60,000 home until the bonds are paid. However, she said the voters will decide the issue. Mr. Miller said he supports the airport expansion because it is the City's first priority. He said the voters should not be asked to approve additional property taxes. He said the airport expansion should be paid for from existing revenues but it will impact City services. He emphasized that the same prioritizing process should be used for other City services such as public safety and library services. He said the council should "live within our resources." Ms. Schue said good air transportation is very important for the future. She said she will support funds to continue the airport expansion until the March 31, 1987, vote. She said she will support providing $1.1 million up-front money to reduce the debt. She said she supports the use of General Obligation bonds for the project because the interest rate is lower than for other financing mechanisms. She said many people do not want existing City services reduced and, therefore, she prefers to pay the debt service on the bonds with additional property taxes. Mr. Holmer said the proposal will not have a major effect on other City services. He said the airport should be approved and it should be funded with e MINUTES--Eugene City Council December 17, 1986 Page 6