Peoria Standard

City of East Peoria City Council met July 16.

Here are the minutes provided by the council:

PUBLIC HEARING

“PUBLIC HEARING CONCERNING THE INTENT OF THE COUNCIL TO SELL NOT TO EXCEED $20,000,000 GENERAL OBLIGATION BONDS (ALTERNATE REVENUE SOURCE) FOR THE PURPOSE OF PAYING THE COSTS OF CONSTRUCTING AND EQUIPPING A NEW POLICE STATION.”

Motion by Commissioner Hill, seconded by Commissioner Mingus; Mr. Mayor, I move you that the City Council of the City of East Peoria recess the Regular Meeting to hold a public hearing.

Yeas: Commissioner Hill, Mingus, Sutherland, and Mayor Kahl.

Nays: None.

Mayor Kahl declared the motion carried.

At 6:02 o’clock P.M., the Mayor announced that the next agenda item for the Council was a public hearing (the “Hearing”) to receive public comments on the following proposal to sell alternate bonds in the amount of not to exceed $20,000,000 for the purpose of paying the costs of constructing and equipping a new police station in the City (the “Bonds”), and explained that all persons desiring to be heard would have an opportunity to present written or oral testimony with respect thereto.

The Mayor opened the discussion and explained that the reasons for the proposed issuance of the Bonds were as follows: to sell Alternate Revenue Source note to exceed $20,000,000 for the Purpose of Paying the Costs of Constructing and Equipping a New Police Station. Mayor Kahl turned the discussion over to Director of Finance, Jeff Becker. He explained that the city is unsure about the rate yet; however, the amount is not to exceed $20,000,000. He explained that there is a loan for a developer and the payments from the developer on the loan will go toward the payment of the bonds.

Whereupon the Mayor asked for additional comments from the Commissioners. Additional comments were made by the following: None.

Written testimony concerning the proposed issuance of the Bonds was read into the record by the City Clerk. None.

Whereupon the Mayor asked for oral testimony or any public comments concerning the proposed issuance of the Bonds. Statements were made by the following: None.

The Mayor then announced that all persons desiring to be heard had been given an opportunity to present oral and written testimony with respect to the proposed issuance of the Bonds.

Commissioner Hill moved and Commissioner Mingus seconded the motion that the Hearing be finally adjourned.

After a full discussion thereof, the Mayor directed that the roll be called for a vote upon the motion.

Upon the roll being called, the following Commissioners voted:

AYE: COMMISSIONER HILL, COMMISSIONER MINGUS, COMMISSIONER SUTHERLAND, AND MAYOR KAHL. NAY: NONE.

Whereupon the Mayor declared the motion carried and the Hearing was finally adjourned.

Motion by Commissioner Hill, seconded by Commissioner Mingus; Mr. Mayor, I move you that the City Council of the City of East Peoria adjourn the public hearing and reconvene the Regular Meeting.

Yeas: Commissioner Hill, Mingus, Sutherland, and Mayor Kahl.

Nays: None.

Mayor Kahl declared the motion carried and the Regular Meeting reconvened.

https://www.cityofeastpeoria.com/AgendaCenter/ViewFile/Item/6773?fileID=35075