2/13/1990 - Laserfiche WebLink

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BOOK Director Keating wished to point out that Public Works Director Davis worked real hard on this. He believed that this is a much better Drainage Element than we had to begin with and he wished to commend Jim Davis. Chairman Eggert at this point advised that she would like to address Commissioner Scurlock's earlier comment about bonding before he has to leave the meeting. She cited POLICY 1.8 of the CIE Element, as follows: The county shall utilize bond funding for capital projects which have a 20 year or more projected life span when the cost of a project is preferred to be spread out over several years in order that future residents share in the construction costs. Chairman Eggert commented that when she read this, she also felt as if we were required to bond when we do have the option of our 14 Sales Tax that we can use. Commissioner Scurlock brought this up, and she didn't know the best way to change that Policy. Commissioner Scurlock thought that the real key is that we have a formally established Finance Advisory Committee that takes each specific issue that faces the County in terms of funding and devises an appropriate package. They have been into recommending pay as you go, and we have been provided the resource of the 1t Sales Tax. He felt the Committee has been consistent in recom- mending to have your term long enough but not to the point where your debt service ends up being all interest and no principal. He would just like to make sure that in that Policy we recognize we do have a formal advisory committee that is making recommenda- tions on a case by case basis and that we are not locked into any specific 20 year funding. Chairman Eggert noted that it is the life span of the capital project that is 20 years or more and asked if we can say something like "when we have a 20 year or more life span projected capital project, the county will investigate various methods of financing." 106