HomeMy WebLinkAbout2020-08-03 Finance Committee Minutes
FINANCE COMMITTEE MINUTES
August 3, 2020
Councilors in Attendance: Tremble, Okafor, Fournier, Schaefer, Supica
School Committee Member in Attendance: Caruso
Staff in Attendance: Conlow, Laurie, Smith, Courtney, Theriault, Caruso, Webb,
Hayman
1. Consent Agenda
a. Emergency Purchase Battery Universal Power Supply – IT Savvy - $11,385
Motion made and seconded to approve the consent agenda item, motion passed
unanimously.
2. Bids/Purchasing
a. Lower State, Harlow and Park Streets Sidewalk Improvements – Engineering –
Hughes Brothers - $169,803
Motion made and seconded to recommend contract award to the City Council, motion
passed unanimously.
b. Hogan Road/EMCC Driveway Traffic Signal Replacement – Engineering – Electric
Light Company - $83,700
Motion made and seconded to execute contract, motion passed unanimously.
c. Penobscot River Remediation – Engineering – Burns & McDonnell - $98,000
Motion made and seconded to execute contract, motion passed unanimously.
d. Request to Waive Bid Process – Street Lights – Gilman Electric - $67,500
Motion made and seconded to approve purchase, motion passed unanimously.
e. Request to Waive Bid Process – Computer System Backup – Dell and Winslow
Technology - $99,977
Motion made and seconded to approve purchase, motion passed unanimously.
f. Climber Screens Phase II – WWTP – Gordon Contracting - $550,000
Motion made and seconded to recommend change order to City Council, motion passed
unanimously.
3. Order 20-235, Authorizing Issuance of $2,853,000 in General Obligation
Bonds
Motion made and seconded to recommend passage to City Council, motion passed
unanimously.
4. Order 20-236, Authorizing State Revolving Loan in the Amount of
$16,925,000
Motion made and seconded to recommend passage to the City Council, motion passed
unanimously.
5. School Bond Orders
Staff provided an overview of the three highest priority projects identified by the School
Department that had been discussed in a December joint Committee/Council meeting. The
three projects are Cameron Stadium improvements, Bangor High School roof and Bangor
High School electrical system. In order to move the projects along, staff will be preparing
three bond orders. One Order will be to authorize a loan from the Maine Municipal Bond
Bank’s School Revolving Renovation Fund in the amount of $1,000,000 (for the roof), which
includes a principal forgiveness. One Order will be to authorize the issuance of general
obligation bonds in the amount of $1,400,000 ($200,000 for roof and $1,200,000 for
electrical). The third Order will be to authorize the issuance of $2,730,000 in general
obligation bonds for Cameron Stadium improvements. The City’s Charter requires bond
issuance over a specific amount that doesn’t meet certain criteria appear on a ballot for
voter approval. Only the Cameron Stadium bonds will require voter approval.
6. Airport Bond Order
Staff reviewed the agreement in place for contributions for the C&L maintenance facility as
approved by the City Council earlier this year. There will be a Bond Order placed on the
next City Council agenda, to authorize the issuance of the taxable bonds associated with
this project.
Motion made and seconded to recommend passage to the City Council, motion passed
unanimously.
7. Refunding Bonds
Staff provided an updated regarding an upcoming refunding bond issue. The refunding
bonds will be issued on a taxable basis and be an advance refunding of portion of the
current Arena bonds and an Airport bond issue. The necessary City Council approvals are
th
already in place. The sale is anticipated to take place the week of August 17, it will be
necessary to schedule a Special Finance Committee meeting later that week, to approve the
details of the bond sale.
8. Executive Session – 36 MRSA Section 841(2) – Hardship Abatement
Motion made and seconded to enter Executive Session, motion passed unanimously.
9. Open Session – Hardship Abatement
Motion made and seconded to approve the Hardship Abatement request, motion passed
unanimously.
Meeting adjourned at 6:00 pm