03-03-2008 PRCEMMINUTES
Parks, Recreation & Community Education Advisory Board
March 3, 2008
Members present were: Deane Dietel, Mike Cannon and Lenore Flinn. Also present were Dolf
Moon, Marv Haugen, Jeremy Carter and Karen McKay.
The meeting was called to order at 5:20 pm.
A motion was made by Deane Dietel and seconded by Mike Cannon to approve the minutes dated
February 4, 2008. The board unanimously agreed.
OLD BUSINESS
Aquatic Center, Bonding Information – Jeremy Carter, Assistant Finance Director was at the
meeting to present information regarding funding all or a portion of the aquatic center with bonding.
Option One included the issuance of General Obligation Bonds that would require public voter
approval. Advance notice to the public is required for a public vote. One benefit of G.O. Bonds is
a lower interest rate.
Option Two is Lease Revenue Bonds. The City can enter into a lease arrangement. A public vote is
not required. Local groups such as the HRA or EDA would issue revenue bonds. The interest rate
is slightly higher because an aquatic center would be considered a non-essential service.
The board reviewed the summary tables comparing $1 million and $2 million project costs for 10
year and 15 year terms with Lease Revenue Bonds compared to G.O. Bonds.
Deane inquired what the City Council’s feelings were. Dolf said he wasn’t sure. The Mayor and
elected officials can use excess revenue for worthy projects such as the dam, highway underpass
and capital projects, for example a fire truck. By using the lease revenue bond approach, the city
may not be able to completely finance an aquatic center. The Board will formulate a
recommendation to the City Council outlining the options including facility renovation versus a new
aquatic center. Dolf prefers the Lease Revenue Bonds because of the reduced amount of risk. He
also told the board that even if we chose to do neither (Lease Revenue or G.O. Bonds) there is still a
need to determine how to fund $700,000 in piping, boilers and fencing replacements.
NEW BUSINESS
PRCE Annual Report – The Board received a copy of the PRCE Annual Report outlining 2007
Accomplishments and 2008 Goals. Any questions should be directed to staff members.
April Meeting – The Mongolian musical group, Un Da Union arrive in Hutchinson Monday, April
th
7 for the week. The Board is invited to attend a welcome for them at the Event Center that
afternoon. There will not be an April meeting. The annual early summer registration will be
Tuesday, May 6th. Board members are invited to help cashier and distribute registration slips, a
reminder will be sent out closer to that date.
ADJOURNMENT
The meeting was adjourned at 6:23 pm by a motion made by Lenore Flinn and seconded by Mike
Cannon. The board unanimously agreed.