ASSEMBLY AGENDA/MANAGER’S REPORT
THE CITY AND BOROUGH OF JUNEAU, ALASKA
Wednesday, September 13, 2006
5 PM
Municipal Building – Assembly Chambers
Special Meeting No. 2006-24

Submitted by: _____________________________
Rod Swope
City & Borough Manager

I. FLAG SALUTE

II. ROLL CALL

III. RESOLUTIONS

A. Resolution 2372
A Resolution Of The Assembly Of The City And Borough Of Juneau, Alaska, Fixing The Final Principal Amounts And Interest Rates Of The General Obligation School Bonds, 2006B And General Obligation School Bonds, 2006C Authorized By Ordinance Serial No. 2006-24 And Accepting Bids For The Purchase Of Each Series Of Said Bonds.

This resolution would accept the competitive bids for the sale of $50.055 million in General Obligation Capital Improvement School Bonds. The bonds consist of $44.060 million for construction of the new valley high school and $5.995 million for repairs and renovations for the Glacier Valley School. The $44.060 million represents a portion of the $54 million in GO bonds approved by the voters on October 5, 2004, to fund the construction of the new valley high school. With this issue, all $54 million of the authorization will have been issued. The $5.995 million was approved by the voters on October 4, 2005.

This project qualifies for 70% reimbursement under the State’s School Construction Bond Debt Reimbursement Program. However, the reimbursement under the State’s Debt Reimbursement Program is subject to annual appropriation by the Legislature. The maturity of the bonds will range from 1 to 15 years for the $44.060 million and 1 to 10 years for the $5.995 million. The estimated total cost of the debt service, including interest at a rate of 4.5%, is $69,120,000. The City should receive reimbursement from the State of $48,384,000, assuming full state program funding. This will leave $20,736,000 to be paid from local property taxes. The maximum property tax mill levy needed to fund the local share of the debt service, assuming full state funding, will be 0.38 of a mill or $38 per $100,000 in assessed value.

This resolution is an example for reference only. It does not contain the name of the winning bidder(s). Bids will be accepted on September 13, 2006. The standard practice is to accept bids within 24 hours of submission. As such, the actual resolution for action will be a red folder item in order to meet the standard time window for accepting bond bids.

I recommend this resolution be adopted.

B. Resolution 2373
A Resolution Authorizing The Manager To Enter Into An Amendment To The City And Borough PERS Plan To Allow For The Exclusion From PERS Of The Position Of Airport Manager Pursuant To AS 39.35.

The Airport Board requested this Resolution to facilitate its offer of employment to a current PERS retiree. This is the same approach that was taken to fill the position of Fire Chief in 2004. This resolution would request from the State an amendment to the current CBJ PERS contract to eliminate the position of Airport Manager from PERS.

I recommend this resolution be adopted.

IV. PUBLIC PARTICIPATION ON NON-AGENDA ITEMS

V. ASSEMBLY COMMENTS AND QUESTIONS

VI. ADJOURNMENT

Note: Agenda packets are available for review at the Juneau Municipal Libraries and online at www.juneau.org.

ADA Accommodations Available Upon Request: Please contact the Clerk’s office 72 hours prior to any meeting so arrangements can be made to have a sign language interpreter present or an audiotape containing the Assembly’s agenda made available. The Clerk’s office telephone number is 586-5278, TDD 586-5351, e-mail: city_clerk@ci.juneau.ak.us.

Office of the City Clerk, 155 South Seward Street, Juneau, Alaska 99801
 
home
community
visitors
images
business
jobs
calendar
IMAGE-City and Borough of Juneau