WEBVTT 00:00.000 --> 00:16.000 All we'll call the meeting to order at 7 p.m. 00:16.000 --> 00:18.000 Please stand for the pledge. 00:18.000 --> 00:45.000 We have the additions or corrections to the agenda. 00:45.000 --> 00:47.000 I have none. 00:47.000 --> 00:56.000 All in favor. 00:56.000 --> 01:04.000 Consent agenda. 01:04.000 --> 01:07.000 Okay, your consent agenda, you have the minutes from our last meeting. 01:07.000 --> 01:12.000 And then you have three sets of payables that were done during March. 01:12.000 --> 01:15.000 And then you also have the year to date budget in there. 01:15.000 --> 01:25.000 The only couple of things I wanted to point out with the expenses, there is some training and travel throughout, you know, different departments, different employees. 01:25.000 --> 01:30.000 And then there's some annual memberships that were paid. 01:30.000 --> 01:34.000 They're a job. 01:34.000 --> 01:40.000 The golf course does have a purchase of refrigerator, ice maker. 01:40.000 --> 01:42.000 That's in there. 01:42.000 --> 01:53.000 Yeah, that's about it. 01:53.000 --> 01:56.000 Motion to approve consent agenda. 01:56.000 --> 01:57.000 All in favor. 01:57.000 --> 02:04.000 All right. 02:04.000 --> 02:06.000 Public forum. 02:06.000 --> 02:11.000 Do we have anybody that would like to speak through public forum? 02:11.000 --> 02:16.000 Public forum. 02:16.000 --> 02:19.000 Moving on. 02:19.000 --> 02:21.000 Notices and communications. 02:21.000 --> 02:23.000 You have a couple items from the league. 02:23.000 --> 02:26.000 Should have been in your envelope. 02:26.000 --> 02:30.000 That's all I have. 02:30.000 --> 02:34.000 Council reports. 02:34.000 --> 02:41.000 We did not meet the golf course advisory board did not meet last. 02:41.000 --> 02:49.000 The personnel committee, we've been, well, we'll talk about that here and all that. 02:49.000 --> 03:00.000 I would like to replace the windows down there. 03:00.000 --> 03:05.000 We have the money that we can pay for them. 03:05.000 --> 03:15.000 But in order to put them in, we need a construction loan of some type that can pay as we go. 03:15.000 --> 03:21.000 We can't get the money from HUD until the project is completed. 03:21.000 --> 03:34.000 So the contractor won't start the project without payment or earnest money. 03:34.000 --> 03:44.000 In visiting with the lenders here, they said that 03:44.000 --> 03:48.000 they would need collateral. 03:48.000 --> 03:51.000 Park road board does not own the building. 03:51.000 --> 03:58.000 The city of Jamesville owns the building completely free of debt. 03:58.000 --> 04:13.000 So at some place we need to investigate if we can use that building against the project. 04:13.000 --> 04:24.000 We were at EDA here the other day and discussed quite a few things briefly. 04:24.000 --> 04:37.000 I can't think of one big item that we really went over. 04:38.000 --> 04:46.000 Park board did not meet planning commission a couple weeks ago. 04:46.000 --> 04:53.000 There was just a lot of talk about how we could improve different methods to bring more businesses into town, 04:53.000 --> 05:00.000 looking for grants to potentially improve our infrastructure so that we don't have to wait for somebody to make an offer. 05:00.000 --> 05:04.000 We're just ready to go when they want to come in. 05:04.000 --> 05:10.000 So just a kind of a lot of pipe dreams and maybe some possibilities. 05:10.000 --> 05:13.000 What do you mean? 05:13.000 --> 05:16.000 What do you mean? 05:16.000 --> 05:18.000 All right. 05:18.000 --> 05:22.000 Moving on. 05:22.000 --> 05:29.000 I mean you have the administrator report, but that's called for assistance. 05:29.000 --> 05:34.000 Well, that's a typo. 05:34.000 --> 05:37.000 Okay, I'll give the administrator for it. 05:37.000 --> 05:39.000 In your packet is the March reconciliation. 05:39.000 --> 05:43.000 You also have the cash balance and graphs dated last Friday. 05:43.000 --> 05:46.000 The local board of appeal and equalization. 05:46.000 --> 05:52.000 That's where you've come to your county and discuss your evaluation. 05:52.000 --> 06:02.000 Well, that meeting for the city of James will be next Tuesday from 1 to 3 p.m. at the courthouse. 06:02.000 --> 06:15.000 Midco, this Thursday at the park here across the street, they're going to host an open house kind of a ceremonial first dig for their project that they're going to work on this here. 06:15.000 --> 06:19.000 That'll be at the park here at 2 p.m. 06:19.000 --> 06:28.000 The moon dogs did reach out and I asked the EDA last week, they're interested in hosting in James will night out again at the moon dogs game. 06:28.000 --> 06:31.000 This would be our fourth year that we've done it. 06:31.000 --> 06:35.000 So I'm getting some dates and stuff with them right now. 06:35.000 --> 06:43.000 And last but not least, the update from the coalition has some kind of first half legislative updates in there. 06:43.000 --> 06:49.000 If you had read through that, you can see how we're getting so much accomplished in St. Paul. 06:49.000 --> 06:54.000 That's all I have. 06:54.000 --> 06:57.000 We should approve administrative report. 06:57.000 --> 06:58.000 Thank you. 06:58.000 --> 06:59.000 All in favor? 06:59.000 --> 07:00.000 All right. 07:00.000 --> 07:05.000 Staff reports. 07:06.000 --> 07:08.000 Got the golf course tonight. 07:08.000 --> 07:11.000 The department heads. 07:19.000 --> 07:23.000 So official open date for the course was March 25th this year, so we've been open a few weeks. 07:23.000 --> 07:27.000 It's been a really good first few weeks with the weather. 07:27.000 --> 07:31.000 We had to close a couple days in there, so it's been awesome. 07:31.000 --> 07:36.000 I think we're up to 266 members right now, and we're still signing people up. 07:36.000 --> 07:40.000 I got about five or six in the stack right now that called in tonight and stuff like that. 07:40.000 --> 07:45.000 So we are well on their way to where our memberships usually are. 07:45.000 --> 07:50.000 A couple things we did have to do was ice maker died and our big beer cooler died. 07:50.000 --> 07:54.000 So both of those had to just get replaced right before we opened. 07:55.000 --> 07:57.000 But they're both installed, working great. 07:57.000 --> 08:01.000 We actually have a secondary smaller ice maker out by the bar, too, to keep up with ice. 08:01.000 --> 08:04.000 The last one sounds like the not keep up very well. 08:04.000 --> 08:05.000 It's just a tournament day. 08:05.000 --> 08:07.000 It's like that's a big one downstairs. 08:07.000 --> 08:12.000 I'm in a smaller one to try to keep up just like drinks and stuff that's right there. 08:12.000 --> 08:16.000 All I have. 08:16.000 --> 08:23.000 I have a question, you were doing memberships where people could pay like half now and half mid-year. 08:23.000 --> 08:28.000 How is the bookkeeping being done on that? 08:28.000 --> 08:35.000 Is that being, what are you charging for half now and half later? 08:35.000 --> 08:38.000 So there's been a couple of apps in half and half. 08:38.000 --> 08:40.000 Most are doing like a three payment plan. 08:40.000 --> 08:45.000 So they put a third down on May 31st, then we will run their credit card on May 31st 08:45.000 --> 08:48.000 or that next third and August 31st or down the next one. 08:48.000 --> 08:52.000 They give us a credit card that we keep on file in our system through the software system. 08:52.000 --> 08:54.000 My question comes in. 08:54.000 --> 09:04.000 My looking through the membership, the dollar amount is down from the previous year. 09:04.000 --> 09:10.000 Well, it might be hard that we don't have all the memberships that we've all sold to if you're looking at like a full year. 09:10.000 --> 09:13.000 I know we're probably going to sell at least another $50. 09:13.000 --> 09:15.000 That's my question. 09:15.000 --> 09:17.000 That's how it was being done. 09:17.000 --> 09:23.000 Yeah, so I just, I mean, as we've opened the doors, I mean, every day I'm selling memberships yet too right now. 09:23.000 --> 09:29.000 So I don't see that slowing down any time because some people aren't even, I mean, I've come off to the first round yet, that kind of thing. 09:29.000 --> 09:31.000 Leagues start next week. 09:31.000 --> 09:38.000 This week Thursday will do senior league and feeling, you know, those might come in and do memberships and then next week with the Men's League. 09:38.000 --> 09:46.000 We got 120 guys signed up for Monday Night League and 100 guys signed up for Tuesday Night League, so I have a feeling they'll be quite a few memberships with that. 09:46.000 --> 09:47.000 That's right. 09:47.000 --> 09:49.000 Coming in that they haven't gotten me that too. 09:49.000 --> 09:50.000 So. 09:50.000 --> 09:51.000 Thank you. 09:51.000 --> 09:52.000 Yep. 09:52.000 --> 09:53.000 Anything else? 10:05.000 --> 10:06.000 All right. 10:06.000 --> 10:08.000 So kind of a big thing for us. 10:08.000 --> 10:15.000 It really started last fall, but with some ash tree removal, we got started on that last fall. 10:15.000 --> 10:26.000 Kind of lost track, but I would estimate we cut down maybe 50 ash trees last fall, so we're still cleaning up some of that. 10:26.000 --> 10:36.000 There's still a lot of stumps out there to take care of and patch the turf in, but so that's something we're working on right now. 10:37.000 --> 10:45.000 Something we've been discussing with JAGA a little bit, possibly a rain shelter replacement. 10:48.000 --> 10:49.000 We used to have two. 10:49.000 --> 10:51.000 We tore one down a couple of years ago. 10:51.000 --> 10:54.000 It was just in rough shape, couldn't fix it. 10:54.000 --> 10:57.000 The one that's left is kind of in the same boat. 10:57.000 --> 11:00.000 It's original to the property. 11:01.000 --> 11:07.000 So we're discussing replacing that and hopefully we'll get some help from JAGA on that. 11:10.000 --> 11:14.000 We've got it in the budget this year to replace the siding on the building. 11:14.000 --> 11:18.000 That also is original to the building. 11:18.000 --> 11:21.000 Still getting bids on that. 11:21.000 --> 11:26.000 Hopefully they'll be coming in the next couple of weeks and we'll put together some kind of plan. 11:27.000 --> 11:32.000 The last thing I'd like to mention is just how good a good job Kevin's doing. 11:32.000 --> 11:35.000 I think he's really doing a nice job. 11:35.000 --> 11:38.000 Making some good changes. 11:38.000 --> 11:41.000 He's well received by the members. 11:41.000 --> 11:44.000 Very well organized, but I think he's doing a good job. 11:44.000 --> 11:46.000 So it's a pleasure working with him. 11:46.000 --> 11:47.000 Great to hear. 11:50.000 --> 11:52.000 Anything else? 11:52.000 --> 11:54.000 How much do you pay to save? 11:57.000 --> 12:05.000 I think it's the first time I've been in front of the council since. 12:05.000 --> 12:09.000 It's been hired, so I thought I had to sneak that in there. 12:09.000 --> 12:13.000 Are you going to replace the trees that you're taking out? 12:13.000 --> 12:19.000 It's kind of up for discussion, but it certainly won't be like a one for one. 12:19.000 --> 12:22.000 Has it opened up the course a lot? 12:23.000 --> 12:31.000 It has, but I would say in a beneficial way almost. 12:31.000 --> 12:33.000 We've discussed like replacing five trees. 12:33.000 --> 12:40.000 We cut down 50 and maybe we'll replace five sort of important ones. 12:40.000 --> 12:44.000 But yeah, it certainly won't be a one for one. 12:44.000 --> 12:51.000 So yeah, we're still putting a plan together on that too, but yeah, it's not the highest priority. 12:52.000 --> 12:53.000 I guess so. 12:53.000 --> 12:54.000 Yeah. 12:54.000 --> 12:55.000 I'll just wonder how it will come. 12:55.000 --> 12:57.000 I'll fill it there and check it out. 12:57.000 --> 12:58.000 Yeah. 12:58.000 --> 12:59.000 Yeah. 12:59.000 --> 13:04.000 That's why you can't embed it in where you wouldn't even find it. 13:04.000 --> 13:09.000 If you know much about the golf course, a lot of the ash trees, I don't believe we're intended 13:09.000 --> 13:17.000 on being there by the architect, so a lot of them won't be missed. 13:17.000 --> 13:20.000 That's maybe my opinion. 13:21.000 --> 13:22.000 Yeah. 13:22.000 --> 13:23.000 So, okay. 13:23.000 --> 13:24.000 Yeah. 13:24.000 --> 13:27.000 Anything else for Jacob? 13:27.000 --> 13:30.000 You've got the shelter and the sighting. 13:30.000 --> 13:34.000 I know the deck out there has just been reserved shortly or not. 13:34.000 --> 13:36.000 Yeah, just a few years ago. 13:36.000 --> 13:37.000 Yeah. 13:37.000 --> 13:43.000 And it seems like all these items are punched together, which is normal with a new course. 13:43.000 --> 13:48.000 It all wears out at the same time, but it will help with things to see space. 13:48.000 --> 13:49.000 Right. 13:49.000 --> 13:52.000 I mean, in that actually, that is our intention. 13:52.000 --> 13:58.000 We've kind of been plugging away at it over the last few years. 13:58.000 --> 14:01.000 Citing is this kind of this year's project. 14:01.000 --> 14:07.000 I think there's a real full look at. 14:07.000 --> 14:10.000 There's quite a few things we're going to have to look at over the next few years. 14:10.000 --> 14:11.000 Yeah. 14:11.000 --> 14:17.000 I think each year we'll have to pick something out. 14:17.000 --> 14:22.000 On a list of importance, just start replacing things. 14:22.000 --> 14:23.000 Yeah. 14:23.000 --> 14:25.000 Everything's about 30 years old right now. 14:25.000 --> 14:35.000 And it just, no more life left a lot of it, so. 14:35.000 --> 14:36.000 Very good. 14:36.000 --> 14:43.000 Thank you. 14:43.000 --> 14:46.000 So, if you look at the staff reports, the first two items tonight. 14:46.000 --> 14:53.000 It relates to the bond that we are taking out for the electric improvements. 14:53.000 --> 14:57.000 George Eilertsson from Northland was going to be here tonight. 14:57.000 --> 15:01.000 He's fine on coming down, but I talked to him mid-afternoon due to the weather. 15:01.000 --> 15:06.000 He thought it was probably better if he stayed home, so I'm going to call him. 15:06.000 --> 15:11.000 And he's going to kind of walk through those first couple items with us if you're okay with that. 15:11.000 --> 15:21.000 So, just get him on speakerphone here. 15:21.000 --> 15:22.000 Hello, question. 15:22.000 --> 15:23.000 Hello, George. 15:23.000 --> 15:27.000 You are on speakerphone in front of the world. 15:27.000 --> 15:29.000 Hey, fantastic. 15:29.000 --> 15:32.000 I hope the weather is okay down there. 15:32.000 --> 15:37.000 I was just seeing some 40 in the morning, so. 15:37.000 --> 15:39.000 You're here all day, right? 15:39.000 --> 15:41.000 So far. 15:41.000 --> 15:43.000 Okay, I'll get it. 15:43.000 --> 15:50.000 Well, thank you for the time here, and I'm here at console George Eilertsson here for Northland security. 15:50.000 --> 15:57.000 Sorry, he's going to be with you tonight, but sometimes weather gets in the way. 15:57.000 --> 16:01.000 But a couple different items on your agenda this evening. 16:01.000 --> 16:06.000 It highlights here, and then certainly to address any questions you may have. 16:06.000 --> 16:11.000 So, the first is debt management policy. 16:11.000 --> 16:19.000 And that's something that a lot of cities throughout Minnesota that get bond ratings are adopting. 16:19.000 --> 16:31.000 And that is a policy which kind of serves as a driver or kind of a policy if you will for debt consideration. 16:31.000 --> 16:37.000 I'm going to do some limitations on debt into structuring practices, et cetera. 16:37.000 --> 16:38.000 And they are in console. 16:38.000 --> 16:43.000 I can go through this and hit some of the highlights and then certainly address any questions. 16:43.000 --> 16:55.000 It is good that a community would have a debt manager policy when recently clicked in Andrea and I were on a moderate call to the standard course. 16:55.000 --> 17:04.000 They asked you about what policies and procedures do you have such as debt management policy and investment policy for the balanced policy, et cetera. 17:04.000 --> 17:12.000 And so the more of these that you have, you get another checkbox in the management score. 17:12.000 --> 17:22.000 But then if you've got this up on the screen, actually have you go to page two at the top that should save debt limits? 17:22.000 --> 17:37.000 Okay, just one second here. 17:37.000 --> 17:38.000 Okay. 17:38.000 --> 17:40.000 It's on the bottom there. 17:40.000 --> 17:43.000 Bottom of the first page, debt limits. 17:44.000 --> 17:49.000 So again, Mayor Counsel, I just hit some of the highlights here in respect to your time. 17:49.000 --> 17:56.000 So a few of these items that are loaded in here are right out of Minnesota State statutes. 17:56.000 --> 18:12.000 For example, under debt limits, under A, it's just referencing a number of the statutes that Minnesota Municipal Police issue bonds under Chapter 479 is the key statute that everything kind of starts with. 18:12.000 --> 18:20.000 And then you have different authority, the net, depending on what type of revenue source, what kind of project that you have. 18:20.000 --> 18:25.000 So the policy, here's where they want to see that you have defined some parameters. 18:25.000 --> 18:33.000 So for example, the debt shall not be issued for capital projects or assets would be useful in less than five years. 18:33.000 --> 18:37.000 Now that's typically the case for most municipalities. 18:37.000 --> 18:45.000 I mean, you might have some public works equipment, public safety equipment that might be close to useful life on that. 18:45.000 --> 18:47.000 I don't patrol or squad cars. 18:47.000 --> 18:57.000 Sometimes have a shorter life, but as a general practice, you want to be issuing four things that have a longer use for life than five years. 18:57.000 --> 19:01.000 See, you should not be funding current operations. 19:02.000 --> 19:03.000 So that would be an issue. 19:03.000 --> 19:07.000 That would be a red flag to enter any agency if you are funding. 19:07.000 --> 19:17.000 You need to issue debt just to get through the school for, get through the calendar year that is under D. 19:17.000 --> 19:19.000 This is what's called the statutory debt limit. 19:19.000 --> 19:25.000 You're limited to 3% of the market, overall market value within your city. 19:26.000 --> 19:31.000 So that's some of the starting parameters that you have in your policy. 19:31.000 --> 19:34.000 Debt structuring practices next. 19:34.000 --> 19:39.000 The term of the bond shall not exceed useful life on the asset. 19:39.000 --> 19:49.000 So for example, if we were financing a new building for public works, you know, just to pick an example. 19:50.000 --> 19:53.000 And that added useful life of 10 years. 19:53.000 --> 19:57.000 And I know that's certainly not the case, but we've seen that. 19:57.000 --> 20:00.000 But you had bonds that were issued for 30 years. 20:00.000 --> 20:10.000 I mean, that would be an example of something where you should be either matching up the useful life or shorter than the useful life of the asset. 20:10.000 --> 20:17.000 So just a little bit of debt structuring under D, call features. 20:17.000 --> 20:20.000 That's what's called the redemption feature. 20:20.000 --> 20:24.000 We'll make sure that we have those in the bonds that we issue with you. 20:24.000 --> 20:29.000 That's where you can pre-pay or refinance it if market conditions are favorable. 20:29.000 --> 20:34.000 Under E, you'll issue fixed rate debt, not variable debt. 20:34.000 --> 20:39.000 Variable rate debt would be where you're tied to an index that maybe is tied to, 20:39.000 --> 20:44.000 I'd say, the 10-year treasury in your fixed for five years and then a recess to the treasury market. 20:44.000 --> 20:51.000 There's some of you just how these typically don't issue that type of debt, the usual fixed rate bond issue, 20:51.000 --> 20:56.000 like you'd be considering this image. 20:56.000 --> 21:01.000 I'll jump ahead here a little bit, Clinton, to the next page. 21:01.000 --> 21:08.000 And this is, again, just a little bit more in some of the key highlights under D. 21:08.000 --> 21:17.000 If that's the page that we're on it talks about bond ratings that will engage at least one of the three major rating agencies 21:17.000 --> 21:21.000 when you have the consideration of new debt. 21:21.000 --> 21:28.000 Certainly, the next C bond council backs, not your city attorney, but every time we do a bond, 21:28.000 --> 21:33.000 there's a specialized attorney that provides an opinion that you can issue taxes and that. 21:33.000 --> 21:37.000 That's what bond council refers to. 21:37.000 --> 21:43.000 And just gives a couple of parameters for if you ever consider refunding bonds. 21:43.000 --> 21:50.000 We haven't had the opportunity to do refunding bonds here in the most recent several years. 21:50.000 --> 21:59.000 Because the market conditions haven't been favorable, but certainly that's something we keep in touch with your staff. 21:59.000 --> 22:07.000 Debt management practices, this is the first section talking about investment of proceeds, 22:07.000 --> 22:16.000 meaning that you'll want to make sure that you put that closing the bond proceeds into an interest-bearing account. 22:16.000 --> 22:22.000 And so that speaks to that under D is something called continuing disclosure. 22:22.000 --> 22:33.000 And the city engages Northland to do this 41 on that basis, continuing disclosure means that we provide financial information 22:33.000 --> 22:44.000 to the broader investment public so that if they ever have a question about buying city of Jamesville bonds on the secondary market 22:44.000 --> 22:54.000 and bonds trade just like stocks on the secondary market, so they can look up this information just to see information on the city of Jamesville. 22:54.000 --> 23:02.000 C is what's called arbitrage rebate. That's where you typically don't have bonds that are subject to this. 23:02.000 --> 23:10.000 What arbitrage rebate means, council, is that if you are borrowing at, say, 4%, 23:10.000 --> 23:17.000 but the investment yields in the market are such that you can earn more than 4%. 23:17.000 --> 23:22.000 The interest earnings above what you're borrowing at is called positive arbitrage. 23:22.000 --> 23:34.000 And so this, the SEC governs that you are exempt from that when you issue bonds in a calendar year less than $5 million. 23:34.000 --> 23:45.000 So, Jamesville has, more often than not infected, I think you've always issued bonds except for that because they'd be less than $5 million. 23:45.000 --> 23:48.000 But nonetheless, you want to put that in your policy. 23:48.000 --> 23:56.000 The bottom of that, either E talks about the city will maintain a separate post issuance compliance policy. 23:56.000 --> 24:04.000 Your way ahead of the curve on this newly approved post issuance compliance policy is in 2012. 24:04.000 --> 24:11.000 So, that was done long ago. You don't have to do that with every bond issue. You just have to do that once. 24:11.000 --> 24:18.000 And that's basically just saying those are policies that govern bonds after their issue. 24:18.000 --> 24:23.000 And, you know, how long do you keep records in place, things of that nature. 24:23.000 --> 24:30.000 So, the next page, printed talks about conduit debt, for example. 24:30.000 --> 24:39.000 Conduit debt is probably not something that you've had brought to your attention that often, although certainly it may have been done. 24:40.000 --> 24:50.000 And that's where 501c3 entities oftentimes it's health care related or senior housing. 24:50.000 --> 24:59.000 They can issue taxes and bonds under all. They have to go through municipality. 24:59.000 --> 25:06.000 So, that's what conduit debt is known as, is that you might issue on behalf of a 501c3 issuer. 25:06.000 --> 25:15.000 But it's not, it might be in your name, but it's not your debt. So, that's a little explanation on conduit debt. 25:15.000 --> 25:22.000 And certainly, if you as the city ever get approached by a conduit issuer. 25:22.000 --> 25:29.000 And, Andrea, just make sure you get in touch with us and we'll kind of guide you through that process. 25:29.000 --> 25:33.000 And then I'll just note one more item after closing here. 25:33.000 --> 25:38.000 It's the reimbursement bond summary is listed at the end of your policy. 25:38.000 --> 25:45.000 What reimbursement bonds mean is that, and actually this is something the city has done before, 25:45.000 --> 25:49.000 sometimes the timing of when you get bond proceeds. 25:49.000 --> 25:56.000 And when you have your first invoices presented to you on a project, don't always think about it. 25:56.000 --> 26:03.000 Sometimes you get invoices where you don't have your money yet, so you got to use your cash reserves. 26:03.000 --> 26:08.000 And so, that's really what reimbursement section is talking about where. 26:08.000 --> 26:19.000 If you approve a resolution, what's called a reimbursement resolution, you can pay for an expense with your fund balance, if you will. 26:19.000 --> 26:24.000 And then reimburse yourself at a later date with the proceeds of a tax exempt bond. 26:24.000 --> 26:31.000 So, if you don't have that resolution approved, you're not supposed to, you kind of don't have the opportunity to do that. 26:31.000 --> 26:36.000 So, it's important, and your staff come, city is very versed in this. 26:36.000 --> 26:41.000 We regularly talk about this as part of a new bond issuance. 26:41.000 --> 26:47.000 So, this is a good practice for the city or a good policy rather. 26:47.000 --> 26:50.000 I know I went through that rather quickly, Mayor and Council. 26:50.000 --> 27:01.000 But it's good to have a policy adopted, you know, just like in the past, you would have done a fund balance policy saying 18, so much are reserved or an investment policy, etc. 27:01.000 --> 27:04.000 This is kind of managing your debt. 27:04.000 --> 27:09.000 And when you have projects, we just want to make sure that we adhere to these policies. 27:09.000 --> 27:11.000 There's nothing too onerous in here. 27:11.000 --> 27:24.000 It's really just kind of making sure that you're aware of some of the statutory limitations and stating some items like that we're not going to shoot beyond useful life on the project. 27:24.000 --> 27:34.000 So, any questions, Mayor and Council on the policy? 27:34.000 --> 27:38.000 I think he covered most of it for us or anything I can think of. 27:39.000 --> 27:40.000 Okay, good. 27:40.000 --> 27:41.000 Good. 27:41.000 --> 27:49.000 So that, and actually, it's, we did this recent moderating call relative to the bond that you have on your agenda tonight. 27:49.000 --> 27:55.000 We brought up that you have this in draft form that is going to be considered as yours for 13th meeting. 27:55.000 --> 28:07.000 Certainly, the next time you have a project which potentially would be a serrated project in 2027, this would be a final version that we would provide to the rating agency. 28:07.000 --> 28:11.000 And you'd have credit for improving this policy. 28:11.000 --> 28:18.000 So, what I would just recommend there is that there's no resolution. 28:18.000 --> 28:19.000 There's no resolution. 28:19.000 --> 28:27.000 There's regard to some motion to approve the policy. 28:27.000 --> 28:29.000 All motion to approve the policy. 28:29.000 --> 28:30.000 Second. 28:30.000 --> 28:32.000 All in favor? 28:32.000 --> 28:33.000 All right. 28:33.000 --> 28:36.000 All right. 28:36.000 --> 28:37.000 All right. 28:37.000 --> 28:39.000 Thank you, Mayor and Council. 28:39.000 --> 28:40.000 Thank you. 28:40.000 --> 28:43.000 If that's okay, could I go right into the next step? 28:43.000 --> 28:48.000 Yes, I have the bond sale summary and I printed that out and gave them a copy of it. 28:48.000 --> 28:51.000 I also have it on the big screen. 28:51.000 --> 28:52.000 Okay. 28:52.000 --> 28:53.000 Okay. 28:53.000 --> 28:56.000 Before I do that, I thought I would just touch briefly. 28:56.000 --> 28:58.000 And we don't even have to pull this up. 28:58.000 --> 29:00.000 I'll just refer to this. 29:01.000 --> 29:13.000 As part of issuing the bonds that worked with Clinton and Andrea on the assignment of a bond rating for the city, this city has recently been rated A plus. 29:13.000 --> 29:18.000 And that's been with the rating agency standard courses. 29:18.000 --> 29:29.000 And so the outcome of the rating, we, well, first of all, they provided questions to Clinton and Andrea and I, and they provided a lot of background information. 29:30.000 --> 29:32.000 Ahead of the call. 29:32.000 --> 29:42.000 And so the outcome of the rating process was that they are thumbed to the city's A plus rating. 29:42.000 --> 29:47.000 But then usually it's an A plus with a state of outlook. 29:47.000 --> 29:52.000 In this regard, and also they assigned an A plus with an negative outlook. 29:53.000 --> 29:56.000 I'll give a little positive twist to this. 29:56.000 --> 30:02.000 We stayed at the A plus level as opposed to, you know, in the A category count. 30:02.000 --> 30:08.000 So there's the standard, of course, there's A minus, which is the bottom of the A category. 30:08.000 --> 30:13.000 Then there's A, and then there's A plus, which is at the top of the A category. 30:13.000 --> 30:17.000 And then above the A plus is the double A category. 30:17.000 --> 30:21.000 So we stayed at the A plus, but we have a negative outlook. 30:21.000 --> 30:30.000 Now, the negative outlook was assigned because the city did have been used in spun balance policy. 30:30.000 --> 30:44.000 And so that was noted certainly in the rating report that you have a policy that says that you will maintain 40% of the outcome in your expenditures. 30:45.000 --> 30:52.000 And so basically between four and six months in reserve. 30:52.000 --> 31:00.000 And just with the conservative budgeting, I think there was less than anticipated building permit revenues. 31:00.000 --> 31:10.000 And a little bit lower state aid that resulted in a little bit lower fund balance for the city. 31:10.000 --> 31:14.000 So that's why the negative outlook occurred. 31:14.000 --> 31:25.000 What they do say with a negative outlook is that it reflects their view that there's a one in three chance that deficits could persist. 31:25.000 --> 31:30.000 And then the potential that they would down bring the city thereafter. 31:31.000 --> 31:41.000 Now, Andrea and Clint did a great job of following up this information and actually prevented a doubt occurring because it provided information. 31:41.000 --> 31:47.000 Excuse me, that the city has taken corrective action. 31:47.000 --> 31:48.000 All right. 31:49.000 --> 31:54.000 Two over a two year plan, build back the reserves. 31:54.000 --> 31:57.000 And so Council, that's an important step. 31:57.000 --> 32:11.000 And I want to just make sure that it's emphasized strongly here that keeping your nose upon that minimum layer of the floor of your fund balance policy is very important. 32:12.000 --> 32:23.000 In the case of Jamesville, we're talking about raising it from $850,000 to the ballpark of $900,000. 32:23.000 --> 32:29.000 So it's not like we're talking hundreds of thousands of dollars that you need to lift your fund balance. 32:29.000 --> 32:36.000 But it's $50,000 to say $70,000 replenishing reserves. 32:37.000 --> 32:39.000 So Americans, I just want to point that out. 32:39.000 --> 32:50.000 Certainly there's a lot of items that are mentioned in the radio report, such as, you know, the enrollment that's occurring in the county, your proximity to maintain. 32:50.000 --> 32:54.000 And so those are all positive. 32:54.000 --> 33:12.000 So I think staying the course is very good with the exception of, you know, kind of making sure that you do like what Clinton and Andrea said of staying on a plan to build back reserves over the coming years. 33:12.000 --> 33:14.000 And I think that's important. 33:14.000 --> 33:24.000 In regard, what we'll likely see happen is that negative outlook with that A plus rating back up to a stable. 33:24.000 --> 33:26.000 Any questions on that mayor council? 33:31.000 --> 33:32.000 Nope. 33:32.000 --> 33:33.000 Okay. 33:33.000 --> 33:34.000 Okay. 33:34.000 --> 33:35.000 Great. 33:35.000 --> 33:36.000 Thank you. 33:36.000 --> 33:37.000 And I should say, hey, it's not going to do. 33:37.000 --> 33:46.000 So getting the A plus rating aside allowed us to go similar to 2024. 33:46.000 --> 33:54.000 When we issued the first round of financing similar to this or the utility. 33:54.000 --> 33:56.000 The A plus rating was assigned then. 33:56.000 --> 34:00.000 And then we were able to go out and get what's called bond insurance. 34:00.000 --> 34:05.000 And getting bond insurance is to an investor that buys your bonds. 34:05.000 --> 34:09.000 They're guaranteed to return a principal interest on your bonds. 34:09.000 --> 34:12.000 So that's insurance provides. 34:12.000 --> 34:19.000 What that does is it lifts your rating from that A plus of do not just to a double rating. 34:19.000 --> 34:24.000 And, you know, because of that, it helps to drive the interest rate down movement. 34:24.000 --> 34:32.000 So, uh, mayor council, I'll then refer to the law of sale summary that they have on screen. 34:32.000 --> 34:34.000 They have a hard topic as well. 34:34.000 --> 34:40.000 And so what I just stated, if you looked at page two, which is for the summary. 34:40.000 --> 34:48.000 You basically see that there that, uh, we've got an overall financing term of 20 years. 34:48.000 --> 34:57.000 That, uh, that the assignment of a plus of the results, a plus was assigned that double rating. 34:57.000 --> 35:00.000 Uh, what's your guarantee? 35:00.000 --> 35:02.000 That's what it looks like. 35:02.000 --> 35:07.000 Uh, that, uh, was there a question? 35:07.000 --> 35:09.000 No, you keep going, George. 35:09.000 --> 35:10.000 Okay. 35:10.000 --> 35:11.000 Okay. 35:11.000 --> 35:15.000 Uh, my majority, like I said, 20 years out to 2040. 35:15.000 --> 35:25.000 Uh, you know, there's a drop interest rates in the marketplace. 35:25.000 --> 35:34.000 Uh, which, of course, over time there can be, um, any principal that's maturing after 2034. 35:34.000 --> 35:40.000 And out to the final maturity in 2045, can be a refinanced or prepaid. 35:41.000 --> 35:50.000 And so that's, I mean, in your case, there's about 2.8 million of principal or about 70% of the bond is after the call date. 35:50.000 --> 36:01.000 So that's important that we, that means that I am going forward, closing date, the date that funds will hit the city's account is May 7th. 36:01.000 --> 36:05.000 So that's, uh, don't worry there. 36:05.000 --> 36:12.000 Uh, I really appreciate working a lot with, looking at Andrea on this one because it, you know, we did it. 36:12.000 --> 36:22.000 A little bit of, uh, structure the debt in such a way that can maximize the proceeds to, uh, to the city of New Jersey for the project. 36:22.000 --> 36:33.000 And then, uh, also it makes it what I would say is more likely that we can refinance, refinance the bonds in the future and achieve the savings then. 36:33.000 --> 36:40.000 So, uh, Mayor Council, I can certainly address any questions that you have. 36:40.000 --> 36:42.000 Nope, we're good. 36:42.000 --> 36:43.000 I think we got it. 36:43.000 --> 36:46.000 I hope that's not, I hope that's not the tornado, sir. 36:46.000 --> 36:47.000 Yeah. 36:47.000 --> 36:48.000 Yeah. 36:49.000 --> 36:50.000 Okay. 36:50.000 --> 36:51.000 I'm sorry. 36:51.000 --> 36:54.000 I shouldn't be talking with this. 36:54.000 --> 36:57.000 That's my presentation, Mayor Council. 36:57.000 --> 37:09.000 Sorry for the rush here, not being there, but, uh, the only action that you have then this evening relative to the bonds is there was a resolution that was sent down on attorney. 37:09.000 --> 37:14.000 The only action relative to that is, is approval of that. 37:15.000 --> 37:20.000 On page one there, there's a paragraph that starts the resolution for the issuance. 37:20.000 --> 37:23.000 That's really the receipt section there. 37:23.000 --> 37:26.000 As a motion to move forward. 37:39.000 --> 37:41.000 Is it this resolution? 37:42.000 --> 37:43.000 2608. 37:43.000 --> 37:44.000 Yeah. 37:44.000 --> 37:49.000 If you don't have the resolution in your folder because we receive it at like a month today. 37:49.000 --> 37:52.000 So do you want me to make a motion to adopt this on this? 37:52.000 --> 37:53.000 Don't solve. 37:53.000 --> 37:54.000 I'll make that motion. 37:54.000 --> 37:55.000 Okay. 37:55.000 --> 37:56.000 Okay. 37:56.000 --> 37:58.000 George, I'm hanging up on you, dude. 37:58.000 --> 37:59.000 All right. 37:59.000 --> 38:00.000 Yeah. 38:00.000 --> 38:05.000 Just like we talked about, uh, if you were the mayor, sign and improve. 38:06.000 --> 38:13.000 And then like I said, if somebody was just saying, if you just, uh, resolution blank and we fed the numbers earlier. 38:13.000 --> 38:18.000 Uh, that's really the only action needed on that resolution. 38:18.000 --> 38:19.000 So, all right. 38:19.000 --> 38:20.000 Perfect. 38:20.000 --> 38:21.000 Thank you. 38:21.000 --> 38:22.000 Okay. 38:22.000 --> 38:23.000 Do you say everybody? 38:23.000 --> 38:24.000 All right. 38:24.000 --> 38:25.000 Thank you. 38:25.000 --> 38:26.000 Yeah. 38:28.000 --> 38:30.000 We have a motion and a second. 38:30.000 --> 38:31.000 All in favor. 38:31.000 --> 38:32.000 All right. 38:33.000 --> 38:34.000 Passes for. 38:46.000 --> 38:49.000 I believe that morning was for south of us. 38:49.000 --> 38:50.000 Yeah. 38:50.000 --> 38:51.000 Yes. 38:54.000 --> 38:56.000 I just got to fill this was here. 38:56.000 --> 38:58.000 I can do that with my kind of typewriter. 38:58.000 --> 38:59.000 Sorry. 38:59.000 --> 39:00.000 Okay. 39:00.000 --> 39:01.000 Sorry. 39:01.000 --> 39:02.000 Okay. 39:02.000 --> 39:03.000 This one. 39:03.000 --> 39:04.000 No, you can. 39:04.000 --> 39:05.000 All right. 39:05.000 --> 39:06.000 I'll type them. 39:06.000 --> 39:07.000 So this is. 39:07.000 --> 39:08.000 Usually they say so. 39:08.000 --> 39:09.000 I'm sorry. 39:09.000 --> 39:10.000 I'm sorry. 39:10.000 --> 39:11.000 I think it's yellow. 39:11.000 --> 39:12.000 Oh. 39:12.000 --> 39:13.000 Yeah. 39:13.000 --> 39:14.000 She didn't say anything. 39:14.000 --> 39:15.000 How am I needed? 39:15.000 --> 39:16.000 Gotcha. 39:16.000 --> 39:20.000 Can I do just something right on? 39:20.000 --> 39:21.000 Good morning. 39:21.000 --> 39:22.000 Where are we? 39:22.000 --> 39:23.000 Oh, moving on. 39:23.000 --> 39:25.000 Do you get the names of the motions? 39:25.000 --> 39:26.000 I missed it. 39:26.000 --> 39:27.000 Okay. 39:27.000 --> 39:28.000 All right. 39:28.000 --> 39:32.000 We have a couple more items under admin. 39:32.000 --> 39:33.000 Let her see. 39:33.000 --> 39:39.000 Um, Ivan, would you like to, you requested that our last council meeting? 39:39.000 --> 39:42.000 I brought this up at the last meeting. 39:42.000 --> 39:50.000 I know there's a small number of cities across the day to Minnesota have gone back to the old flag. 39:50.000 --> 39:55.000 For me, the old flag wasn't put in place properly. 39:56.000 --> 40:01.000 The citizens were allowed the opportunity to design a new flag. 40:01.000 --> 40:11.000 Uh, they kind of picked their top winner, went back into committee, was changed severely, 40:11.000 --> 40:14.000 and we ended up having to take the one we have now. 40:14.000 --> 40:19.000 It was never approved by anybody. 40:19.000 --> 40:22.000 Uh, formerly. 40:22.000 --> 40:28.000 So, I would like to see us go back to using the old state flag. 40:28.000 --> 40:31.000 And I'll make that a motion. 40:31.000 --> 40:32.000 Second. 40:32.000 --> 40:34.000 All in favor? 40:34.000 --> 40:35.000 Aye. 40:35.000 --> 40:36.000 All right. 40:36.000 --> 40:37.000 For all. 40:37.000 --> 40:39.000 Next, Ivan. 40:39.000 --> 40:40.000 Okay. 40:40.000 --> 40:43.000 Moving on. 40:43.000 --> 40:48.000 Uh, letter D, the consumption display permit for the bowling alley since there's the, uh, 40:48.000 --> 40:51.000 the setup. 40:51.000 --> 40:53.000 Setup arrangements at the bowling alley. 40:53.000 --> 40:56.000 Uh, Dan's size is required to have a consumption in this play permit. 40:56.000 --> 40:58.000 We do this every year. 40:58.000 --> 41:00.000 Um, he paid the fee. 41:00.000 --> 41:01.000 The information is filled out. 41:01.000 --> 41:02.000 Sent to the state. 41:02.000 --> 41:04.000 We're waiting for it to come back from the state. 41:04.000 --> 41:08.000 So if you could make a motion. 41:08.000 --> 41:13.000 Approving this permit contingent upon. 41:13.000 --> 41:15.000 Get coming back from the state. 41:15.000 --> 41:17.000 I'll make a motion proving. 41:17.000 --> 41:20.000 Permit contingent upon state approval. 41:20.000 --> 41:23.000 Oh, second. 41:23.000 --> 41:24.000 All in favor? 41:24.000 --> 41:25.000 Aye. 41:25.000 --> 41:26.000 Maybe. 41:26.000 --> 41:30.000 This is for all. 41:30.000 --> 41:33.000 Make sure you get something to hang on the wall. 41:33.000 --> 41:34.000 Yes, please. 41:34.000 --> 41:35.000 Oh, yeah. 41:35.000 --> 41:36.000 Thank you. 41:36.000 --> 41:41.000 I said, make sure he gets something he can hang on the wall. 41:41.000 --> 41:42.000 Oh, yeah. 41:43.000 --> 41:45.000 Songs in the park. 41:45.000 --> 41:46.000 Yes, we have. 41:46.000 --> 41:51.000 We've recently received three different contributions for the songs in the parks. 41:51.000 --> 41:54.000 They're in resolution number 10 there for you. 41:54.000 --> 41:56.000 Motion to approve. 41:56.000 --> 41:58.000 Technician 10. 41:58.000 --> 42:00.000 Motion and a second. 42:00.000 --> 42:01.000 All in favor? 42:01.000 --> 42:02.000 Aye. 42:02.000 --> 42:03.000 Aye. 42:03.000 --> 42:05.000 This is for all. 42:05.000 --> 42:10.000 Public safety. 42:10.000 --> 42:15.000 Okay, we do have a couple items to talk about here as far as the police department. 42:15.000 --> 42:20.000 As you all know, Steve Johnson is resigned as the police chief. 42:20.000 --> 42:23.000 That was effective Friday, April 3rd. 42:23.000 --> 42:24.000 I said that right. 42:24.000 --> 42:26.000 Yep, Friday, April 3rd. 42:26.000 --> 42:30.000 Attached in the packet is his resignation letter. 42:30.000 --> 42:37.000 If we could have a motion to accept this resignation letter, that is the first step. 42:38.000 --> 42:43.000 I'll make a motion to accept the ruling nation from Chief Johnson. 42:43.000 --> 42:44.000 Second. 42:44.000 --> 42:46.000 All in favor? 42:46.000 --> 42:47.000 Aye. 42:47.000 --> 42:48.000 Aye. 42:48.000 --> 42:59.000 Second step we need to announce that as a personnel committee discussed, Mark Vanderbilt is now our acting police chief until we hire a chief. 42:59.000 --> 43:01.000 That's all he needed. 43:01.000 --> 43:06.000 That's all the BCA needed. 43:06.000 --> 43:11.000 You can give a speech. 43:11.000 --> 43:18.000 I'm going to speak to this. 43:18.000 --> 43:23.000 We want to do that right now. 43:23.000 --> 43:27.000 We've got a plaque here that we'd like to get to see. 43:27.000 --> 43:31.000 He's definitely earned that. 43:31.000 --> 43:46.000 Just on behalf of the city for 24 years of dedicated service to the town and community members and very appreciative of that. 43:46.000 --> 43:59.000 Let me get a better get back up there and shake his hand again. 43:59.000 --> 44:01.000 I did not get a good picture. 44:01.000 --> 44:04.000 You were quick. 44:04.000 --> 44:07.000 Thank you. 44:07.000 --> 44:09.000 Thank you. 44:09.000 --> 44:11.000 Do you get a picture, Mike? 44:11.000 --> 44:15.000 We need a motion to hire a motion in that position. 44:15.000 --> 44:17.000 On what? 44:17.000 --> 44:18.000 For Mark? 44:18.000 --> 44:19.000 For Mark. 44:19.000 --> 44:20.000 I don't think. 44:20.000 --> 44:22.000 If you want to make a motion to it. 44:22.000 --> 44:23.000 I'll make a motion to do that. 44:23.000 --> 44:29.000 That would be because I think they asked him for the count of minutes showing that he was approved. 44:29.000 --> 44:30.000 Okay. 44:30.000 --> 44:37.000 So motion is made to name Mark Van Wilta's acting chief. 44:37.000 --> 44:38.000 Second. 44:38.000 --> 44:40.000 All in favor? 44:40.000 --> 44:41.000 Aye. 44:41.000 --> 44:42.000 Aye. 44:42.000 --> 44:43.000 Aye. 44:43.000 --> 44:44.000 All right. 44:44.000 --> 44:49.000 And then the final thing to discuss with the police chief opening is the personnel committee did meet. 44:49.000 --> 44:50.000 We talked about the process. 44:50.000 --> 44:53.000 The steps will go through to find that chief. 44:53.000 --> 44:58.000 We said, man. 44:58.000 --> 45:00.000 I don't want to stop. 45:00.000 --> 45:07.000 The personnel committee suggested we follow the exact same process as we did when Dave Omen retired. 45:07.000 --> 45:11.000 I did talk to the individuals that were part of the interview panel. 45:11.000 --> 45:15.000 And they're all willing to serve on the interview panel. 45:15.000 --> 45:18.000 So we'll have representatives from the school. 45:18.000 --> 45:21.000 Sheriff Doulas will be here on the interview committee. 45:21.000 --> 45:24.000 And then the council of governments will also help. 45:24.000 --> 45:31.000 If you're okay with that, if I could just have a motion to follow the same process as a couple of years ago. 45:31.000 --> 45:39.000 And then I can get, you know, contacting the newspapers and whatnot to get the ads in. 45:39.000 --> 45:44.000 I'll make a motion to follow the procedures that you followed last time. 45:44.000 --> 45:47.000 All in favor? 45:47.000 --> 45:48.000 Aye. 45:48.000 --> 45:50.000 All right. 45:50.000 --> 45:51.000 Thank you. 45:51.000 --> 45:52.000 Cool. 45:52.000 --> 45:54.000 Last but not least. 45:54.000 --> 45:59.000 Joe has patiently been sitting here. 45:59.000 --> 46:02.000 Now it's his turn. 46:02.000 --> 46:06.000 Looking at some quotes for a column barium at the cemetery. 46:06.000 --> 46:17.000 Yeah, as I discussed with you guys at a previous meeting, we've had some inquiries into getting a column barium installed. 46:17.000 --> 46:18.000 I would add the cemetery. 46:18.000 --> 46:21.000 Do you have a picture? 46:21.000 --> 46:23.000 Or do you guys have pictures in your packets? 46:23.000 --> 46:24.000 Yeah. 46:24.000 --> 46:28.000 Just to kind of see what we're talking about. 46:28.000 --> 46:34.000 Two of a couple different companies got a couple different numbers, different models. 46:34.000 --> 46:38.000 Two of the comparable ones are from cold spring. 46:38.000 --> 46:46.000 I think that is the actual cold spring unit picture there. 46:46.000 --> 46:50.000 Six rows across four rows high. 46:50.000 --> 46:54.000 Just kind of a basic starter column barium. 46:54.000 --> 47:05.000 What we're looking at is something, if it catches on, that we can keep adding as we move forward in the future. 47:05.000 --> 47:12.000 Price tags on this one, $48,093 from cold spring. 47:12.000 --> 47:18.000 Now keep in mind that I plan on, if it is approved, I plan on doing the foundation work. 47:18.000 --> 47:27.000 So from that $48,000 deduct $7,300 of up, $40,771 just for the unit itself. 47:27.000 --> 47:30.000 That's not any of the other prep work. 47:30.000 --> 47:43.000 And then from the other company, which is the exact same column barium, it will be $42,175 all without the foundation. 47:43.000 --> 47:46.000 We would do the foundation prep work there. 47:46.000 --> 47:50.000 Just a couple different color options that's available. 47:50.000 --> 47:58.000 And as you can see in that picture, what another thing we have to decide is, 47:58.000 --> 48:03.000 etched front plates versus bronze versus a bronze plate. 48:03.000 --> 48:06.000 I would recommend a bronze plate. 48:06.000 --> 48:13.000 That way, if someone passes, they can just get the plate ordered and we can attach it directly to the front. 48:13.000 --> 48:20.000 Rather than taking the front off, mailing it off to get etched, then bring mail it back and then getting it installed. 48:20.000 --> 48:26.000 That's the first two kind of comparable quotes, but I wanted to get another one presented too. 48:26.000 --> 48:30.000 It's from one of the same companies that create a legacy. 48:30.000 --> 48:34.000 It's for a basic kind of the same model. 48:34.000 --> 48:40.000 It's a 48-space, 48-nish column barium. 48:40.000 --> 48:44.000 But the one thing that I like about this one, I don't know if you have a picture of that one. 48:44.000 --> 48:48.000 It's the Nelson, but it's going to look very similar. 48:48.000 --> 48:51.000 I mean, they're big granite blocks. 48:51.000 --> 48:57.000 One thing I like about this one is it's the ability to put two urns in one space. 48:57.000 --> 49:02.000 So basically it's called a 48-96. 49:02.000 --> 49:09.000 The other two I already talked about are only one urn per space. 49:09.000 --> 49:13.000 So what's really attractive about this one is just the construction of it. 49:13.000 --> 49:15.000 The niches are a little bigger. 49:15.000 --> 49:28.000 And the price for that is after pre-drilling for bronze plates, they'll pre-drill for whatever bronze plate we want to affix to these things. 49:28.000 --> 49:33.000 So with no foundation, it's going to be $25,691. 49:33.000 --> 49:37.000 That's delivered and installed on a slab that we have prepared. 49:37.000 --> 49:44.000 Any questions on those right now? 49:44.000 --> 49:47.000 Go ahead. 49:47.000 --> 49:50.000 Okay, so I was curious. 49:50.000 --> 49:56.000 When you're talking the 48-96 and two urns, that would be for like family marios. 49:56.000 --> 50:01.000 If not, we can sell two separate families to one space or one urn per person. 50:02.000 --> 50:08.000 But in the Nelson, this one for 25, you can put two urns in one spot. 50:08.000 --> 50:12.000 Yeah, husband and wife or whatever have you. 50:12.000 --> 50:18.000 So that's what makes that one a little more attractive, in my opinion. 50:18.000 --> 50:21.000 But Jeff, I haven't yet a question? 50:21.000 --> 50:30.000 Yeah, I noticed in the cold spring specs, item number nine is you have to be able to get a 70-foot long trailer 50:30.000 --> 50:32.000 into the cemetery. 50:32.000 --> 50:37.000 I've already been taught that you can't take a trailer with you when you go. 50:37.000 --> 50:44.000 But getting a 70-foot semi-trailer into the cemetery is not going to be easy. 50:44.000 --> 50:45.000 No, absolutely not. 50:45.000 --> 50:47.000 Yeah, it's a narrow county road. 50:47.000 --> 50:53.000 And if that's something where we have to get payloaders involved or whatever, 50:53.000 --> 50:56.000 I'd be happy to get that thing off of there. 50:56.000 --> 50:59.000 We'll have to be something to be discussed, yeah. 51:05.000 --> 51:10.000 Would you like us to version me when we just compared to a lot? 51:10.000 --> 51:15.000 Actually, we're all set and done pretty comparable, are they? 51:15.000 --> 51:20.000 A lot of the ones in the area, cemeteries that did some checking around, most of them, 51:20.000 --> 51:31.000 for one niche niche, whenever we're going to say it, $2,000 for just about $500 for a bronze plate. 51:31.000 --> 51:34.000 Whereas your traditional burials are what do we have? 51:34.000 --> 51:44.000 $400 for a plot, then $400 to the cemetery are the funeral home and digger, the market and dig it, 51:44.000 --> 51:50.000 then you've got stone, that's so it all has nothing. 51:50.000 --> 51:53.000 So, depending on options, of course. 51:53.000 --> 51:56.000 So the paperback wasn't written to a lot of persons. 51:56.000 --> 51:57.000 Right, right. 51:57.000 --> 52:01.000 And that's the other thing, a lot of people are putting these in, you know, because they're running out of space. 52:01.000 --> 52:09.000 Well, we have space out there, but I just wanted to let you know that we do have space, but there have been inquiries in some of these alternatives too, 52:09.000 --> 52:13.000 so that's why I wanted to bring it forward and see if there's any interest. 52:13.000 --> 52:21.000 Do you have any thoughts versus the granite versus granite plastic on these? 52:21.000 --> 52:30.000 Just from people I've talked to, the full granite construction, which was unlike the Nelson, is kind of ideal. 52:30.000 --> 52:35.000 It just lasts and it's all the same and just looks nicer. 52:35.000 --> 52:54.000 Yeah, because that's one thing, like with that cold spring model, like you just said, it's concrete and polystyrene enclosures with a granite front, 52:54.000 --> 53:02.000 whereas this other one, it's full, all granite construction. 53:02.000 --> 53:07.000 You said you were just, we're only going to do the bronze plates, like this one says you can do black doors. 53:07.000 --> 53:13.000 Yeah, just for ease, I think bronze plates, because you could just call them. 53:13.000 --> 53:23.000 Say this is what we want on them, and that would be a family expense that wouldn't be part of the upfront cost. 53:24.000 --> 53:26.000 Yeah. 53:26.000 --> 53:34.000 So I'm looking here as the cemetery fund has just under $80,000. 53:34.000 --> 53:39.000 So you're talking and running that down about halfway? 53:39.000 --> 53:44.000 Yeah, maybe I'll send it done after half foundation. 53:44.000 --> 53:54.000 If we go with the $25,000 model with, obviously you want to do a little landscaping and stuff around it and dress it up nice. 53:54.000 --> 53:58.000 Now I know you said you wanted to do this mentor to yourself. 53:58.000 --> 54:06.000 I know you're thinking you're going to save some money, but there's enough road projects in town to keep your crew busy besides mowing your grass. 54:06.000 --> 54:07.000 Yeah. 54:07.000 --> 54:10.000 So I'd ask you to reconsider that? 54:10.000 --> 54:15.000 It would be, yeah, from $25, $6.91. 54:15.000 --> 54:22.000 If we go with that model, it would be $29, $5.72 with the pre-drilling included for bronze plates. 54:22.000 --> 54:23.000 Yeah. 54:33.000 --> 54:35.000 What do you recommend, Joe? 54:36.000 --> 54:46.000 If it were me, my recommendation would be move forward with like a Nelson model with bronze plates. 54:46.000 --> 54:51.000 These are some of the examples of bronze plates. 54:51.000 --> 54:58.000 Then you can put the two names on there and then you just add the screw, the dates on, whatever they are. 54:58.000 --> 55:01.000 They're a particular color that everybody deems towards. 55:02.000 --> 55:07.000 So the colors, you have the sheet with the four colors. 55:07.000 --> 55:08.000 Oh, yeah. 55:08.000 --> 55:14.000 I recommend something similar to this, which is kind of a white granite outline with a brown door. 55:14.000 --> 55:17.000 But it's something very similar to that. 55:17.000 --> 55:19.000 Oh, I got to find that. 55:19.000 --> 55:20.000 I know it's here. 55:22.000 --> 55:23.000 There we go. 55:23.000 --> 55:30.000 Yeah, so for that model, the Nelson model, and you can do the white granite exterior with a brown, 55:30.000 --> 55:35.000 harnessed brown door, and that kind of looks nice. 55:35.000 --> 55:38.000 Did you just go back down to that cold spring model? 55:38.000 --> 55:44.000 That's what, essentially, it's essentially what it would look like. 55:44.000 --> 55:49.000 But not that exact model, but that's exactly what it would look like. 55:49.000 --> 55:57.000 So, do you see these being sold as needed, or can they be pre-bought? 55:58.000 --> 56:01.000 You could pre-bile. 56:01.000 --> 56:03.000 But, yeah, you always run the risk. 56:03.000 --> 56:07.000 I know there's one sitting over in Waterville that isn't near capacity. 56:07.000 --> 56:12.000 I've been sitting there for quite a few years, too, so that's just something we have to weigh out, 56:12.000 --> 56:14.000 and that's something we want to move forward with. 56:14.000 --> 56:16.000 But a pre-purchase, absolutely. 56:16.000 --> 56:17.000 Yeah. 56:17.000 --> 56:24.000 I mean, if we go with the $27,000 one, we only have to sell 12 or 13 of them and we've made them money. 56:24.000 --> 56:25.000 That's the other thing. 56:25.000 --> 56:26.000 Yeah. 56:27.000 --> 56:30.000 Yep. 56:30.000 --> 56:37.000 You return to be a little quicker, and then as it does, hopefully, if it fills up, and if it's used, 56:37.000 --> 56:39.000 then, yeah, you can move forward. 56:39.000 --> 56:45.000 It's kind of adding another one in at that time. 56:45.000 --> 56:49.000 I like the idea of going with that cheaper option to put the families together, 56:49.000 --> 56:54.000 and it'd be easy for the city to recoup their costs. 56:54.000 --> 56:58.000 If there's two in there, it's double the C, correct? 56:58.000 --> 57:01.000 That's something I still haven't ironed out yet. 57:01.000 --> 57:02.000 Yeah. 57:02.000 --> 57:05.000 What do you do right now, Bob? 57:05.000 --> 57:08.000 Double the fee. 57:08.000 --> 57:11.000 They have both sides of this thing. 57:11.000 --> 57:13.000 You put them in from the front or the back. 57:13.000 --> 57:19.000 I think it'd probably be similar to a regular plot where the first rate of internment is normal price, 57:19.000 --> 57:21.000 and then the second rate of internment is a little lower. 57:21.000 --> 57:22.000 Yeah. 57:23.000 --> 57:24.000 I'm sure. 57:24.000 --> 57:25.000 I'm sure. 57:25.000 --> 57:27.000 I thought you were on a trailer to heaven. 57:27.000 --> 57:28.000 When everyone could ride. 57:28.000 --> 57:30.000 So, was that a motion? 57:30.000 --> 57:35.000 I motion for the Nelson 4896. 57:35.000 --> 57:40.000 And the Arctic white and brown. 57:40.000 --> 57:44.000 You're already going to pick the colors, too. 57:44.000 --> 57:47.000 If that's what Joe said, the trend is, then why don't you? 57:48.000 --> 57:56.000 I'll second the motion. 57:56.000 --> 57:57.000 All in favor? 57:57.000 --> 57:58.000 Aye. 57:58.000 --> 57:59.000 Aye. 57:59.000 --> 58:00.000 King of style. 58:00.000 --> 58:01.000 For all. 58:01.000 --> 58:04.000 Day go yellow. 58:04.000 --> 58:06.000 Anything else? 58:06.000 --> 58:07.000 Nope. 58:07.000 --> 58:10.000 Make a motion to adjourn. 58:10.000 --> 58:12.000 All in favor? 58:12.000 --> 58:13.000 Aye. 58:14.000 --> 58:15.000 For all. 58:15.000 --> 58:17.000 Meeting adjourned at 758. 58:17.000 --> 58:20.000 Now we go on to see if the town is still here.