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Special Called Meeting

Thursday, September 16, 2010

9:00 a.m. Session


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09:03:28 >>THOMAS SCOTT: Tampa City Council will come to
09:03:29 order.
09:03:31 For our invocation I'd like to introduce Mr. James
09:03:36 Joe Reece, a graduate of Minnesota, former mayor
09:03:39 of his hometown, on Long Island, New York state.
09:03:45 He has served as director of facilities management
09:03:48 and local government in Sussex county and Pasco
09:03:51 county, Florida.
09:03:52 Present buy he is a legislative assistant for our
09:03:56 own Tampa Bay City Council members serving under
09:04:01 Councilmember Yvonne Capin.
09:04:03 Mr. Reece has come before us before to give words
09:04:05 of inspiration and encouragement.
09:04:08 We ask him again to do so.
09:04:10 If you don't mind, please stand.
09:04:13 Hes going to come and offer the invocation, then
09:04:16 we will have the pledge of allegiance.
09:04:17 >> Good morning.
09:04:18 Before we begin today's meeting, let us take a
09:04:21 moment to thank God for all we have been given and
09:04:24 for bringing such a dedicated group of people to
09:04:26 our council meeting.
09:04:28 We ask for God's help to give our individual and
09:04:31 collective gives gifts to our community and
09:04:34 regularly refurbish our intentions and give of
09:04:38 ourselves in ways of ourselves that make a
09:04:41 difference to our family, and a world grown so
09:04:44 small it can be explored and conquered with the
09:04:46 click of a us the wisdom to plan and
09:05:11 courage to act.
09:05:12 For all of this and a few DOSES of good grace, we
09:05:16 give our thanks, amen.
09:05:17 (Pledge of allegiance)
09:05:18 >>THOMAS SCOTT: Roll call.
09:05:41 >> Caetano.
09:05:42 >> HERE.
09:05:42 >> Capin.
09:05:43 >> Here.
09:05:44 >> Miller.
09:05:45 Miranda.
09:05:46 >> Here.
09:05:47 >> Stokes.
09:05:47 >> Here.
09:05:48 >> Scott.
09:05:50 >>Thomas Scott: Here.
09:05:50 This is a special called meeting.
09:05:53 I have a memo from Councilmember Miller, then Sal
09:05:57 will make a presentation -- is that right?
09:06:03 Put we have a memo today, please be advised upon
09:06:06 my return to council session next Thursday, which
09:06:09 is September 23, I will make a motion to have the
09:06:13 city rename 29TH street in honor of Abraham Brown,
09:06:18 Abraham Brown Street.
09:06:19 Please have this read into the record.
09:06:21 This is from councilwoman Gwen Miller.
09:06:27 For the clerk.
09:06:27 For this morning, this is a special called meeting
09:06:30 for City Council.
09:06:31 We will go into the CRA meeting after this.
09:06:33 This is relative to a resolution, Ms. Wise?
09:06:37 >> Yes, sir.
09:06:39 Mr. Territo has a substitution of the resolution,

09:06:43 a minor change that was really a describer in's
09:06:46 error, regarding the bond insurance company name.
09:06:50 Good morning, Bonnie Wise, I'm here to present a
09:06:53 refunding opportunity for our sales tax revenue
09:06:56 bond series 2001.
09:06:57 This is an opportunity that has come about because
09:07:00 of the very low interest rate.
09:07:02 And so we're asking you to move forward to adopt
09:07:04 this resolution to allow us to refinance these
09:07:07 outstanding bonds.
09:07:09 It is anticipated that the bond issue will be
09:07:12 about $40 million and we will save on a net
09:07:15 present value basis in excess of $3 million.
09:07:17 We will not be extending the maturity of the
09:07:20 bonds, it is strictly a straight refinancing.
09:07:24 I'm pleased to report that the three rating
09:07:26 agencies have all rated these bonds in the AA
09:07:29 category showing the strength of this C.I.T.
09:07:33 revenue.
09:07:34 With that I'll answer any questions.
09:07:35 >>Thomas Scott: Any questions by council?
09:07:38 If not, we need to form --
09:07:40 >> Move the resolution.
09:07:40 >> Second.
09:07:42 >> That would be the substitute?
09:07:44 >>Thomas Scott: Yes, substitute resolution.
09:07:47 All in favor say aye.
09:07:48 >> Aye.
09:07:49 >>Thomas Scott: Opposes?
09:07:51 So moved.
09:07:52 Any other things that need to come before the City
09:07:55 Council?
09:07:56 Okay, then we stand adjourned.
09:07:58 (CRA Meeting adjourned)