10/01/1990 Meeting - Laserfiche WebLink

Home Browse Search

e library on the Sears site. Because the voters will be presented with conceptual designs only, options for library financing will not be included. Mr. Holmer asked why the City would not be ready to seek a decision on library financing at a March election. Mr. Gleason explained that one potential financing option being considered for library funding is a General Obligation bond (GO). Because of the nature of this source of revenue, it would not be possible to put together a financing package which includes GO bond funding until there is greater certainty on what type of structure will be built. Mr. Holmer felt that the community would be capable of dealing with the library siting and downtown redesign issues at the same time. Responding to a question from Mr. Bennett, Mr. Boles said that the downtown redesign activities are not currently on schedule. He does not believe that the committee will have enough information in time for the December 12 council action deadline to make recommendations on this issue. Ms. Bascom said that while she shares the council's conviction that the Eugene community would support a library on the Sears site, she cautioned the council to remain attentive to public input in the library presentations. Ms. Ehrman moved, seconded by Ms. Bascom, to place a ballot measure on library siting before the voters at a March election and to tentatively target a vote on the downtown e redesign project for a May election. The motion passed 6:1; with councilors Ehrman, Bascom, Boles, Green, Rutan, and Bennett voting in favor; and Councilor Holmer voting opposed. II. WORK SESSION: FINANCIAL PLANNING Mr. Gleason reported that one of the council's goals for 1990 was to plan for the financial stability of the General Fund. In pursuit of this goal, the council requested a work session to discuss the financial status of the General Fund, review the most recent General Fund Six-Year Financial Forecast, discuss strategies being considered for balancing the FY92 Budget, and discuss strategies for bringing long-term stability to the General Fund. Mr. Gleason indicated that the council invited the lay members of the Budget Committee to attend this meeting and take part in the discussion. Those present included: Kappy Eaton, Don McLoud, Cheryle Hawkins, Joan Rich, Debra McMillen, Bobbie Green, and Jack Eberly. Mr. Gleason explained that a budget is a short-term, operational plan. Expenditures within the budget must always be balanced with revenues. He said that over the past ten years, the City has been operating 1.5 percent out of round within the budget. Since 1982, the City made several attempts to reduce the deficit; these have been moderately successful. e MINUTES--Eugene City Council October 1, 1990 Page 2 ~ .~