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City Council Minutes 2002 12-10-02 MINUTES OF THE REGULAR MEETING OF THE CITY COUNCIL OF THE UNITED CITY OF YORKVILLE, KENDALL COUNTY, ILLINOIS, HELD IN THE CITY COUNCIL CHAMBERS. 800 GAME FARM ROAD. ON TUESDAY. DECEMBER 10. 2002. Mayor Prochaska called the meeting to order at 7:00 p.m. and led the Council in the Pledge of Allegiance. ROLL CALL Clerk Milschewski called the roll. Ward I James Present Sticka Present Ward II Burd Present Kot Present Ward III Anderson Present Munns Absent Ward IV Besco Present Spears Present OUORUM A quorum was established. INTRODUCTION OF GUESTS Mayor Prochaska welcomed guests and asked those present to enter their name on the attendance sheet provided. AMENDMENTS TO THE AGENDA Mayor Prochaska noted that the presentation for State Representative Tom Cross was going to be postponed as Representative Cross was unable to attend. COMMITTEE MEETING DATES Public Works Committee 6:30 P.M., Monday, December 23, 2002 City of Yorkville Conference Room 800 Game Farm Road Economic Development Committee 7:00 P.M., Thursday, December 19, 2002 City of Yorkville Conference Room 800 Game Farm Road Administration Committee 6:30 P.M., Thursday, December 12, 2002 City of Yorkville Conference Room 800 Game Farm Road Public Safety Committee 6:30 P.M., Wednesday, December 18, 2002 City of Yorkville Conference Room 800 Game Farm Road PRESENTATION Speer Financial Mayor Prochaska turned the floor over to Barbara Chevalier, Vice President of Speer Financial, for a presentation on the refinancing of City Hall. Ms. Chevalier distributed a letter dated December 10, 2002 (see attached) regarding a bid from Bernardi Securities, Inc. for the purchase of Refunding Debt Certificates, Series 2002A being sold by the United City of Yorkville. The certificates were issued in 1990 and were based on a balloon plan. Bernardi has offered to purchase the Debt Certificates at a net interest cost of 4.8879% which is very favorable. Speer Financial recommends the bonds be awarded to them. Also attached to the letter is the debt service schedule. Ms. Chevalier asked if the Council had any questions. Alderman Sticka asked what the difference was between a debt certificate and a bond. Ms. Chevalier explained that for a community to issue bonds there has to be a referendum but this is not necessary with debt certificates. Also, debt certificates do not require a specific stream of revenue to be identified but do count against the City's borrowing ability. Mr. Graff asked when the original debt certificates balloon payment was scheduled and Ms. Chevalier stated that this was due in 2005. Mr. Graff noted that the rates are locked in for the term of the certificates. The Minutes of the Regular Meeting of the Citv Council - December 10, 2002 - uage 2 Mayor Prochaska commented that interest rates are favorable so this is an opportune time to move forward. The payments for the new debt certificates are only slightly higher. Ms. Chevalier stated that the payments are about $100,000.00 /year. There were no further questions or comments. CITIZEN COMMENTS None. PUBLIC HEARINGS Wetland Protection Ordinance Mayor Prochaska entertained a motion to go into public hearing for the Wetland Protection Ordinance. So moved by Alderman Sticka; seconded by Alderman Anderson. Motion approved by a roll call vote. Ayes -7 Nays -0 Anderson -aye, Besco -aye, Burd -aye, James -aye, Kot -aye, Spears -aye, Sticka -aye City Attorney Kramer explained that there was a United States Supreme Court decision that stated that the Army Corp of Engineers does not have jurisdiction over certain wetland areas such as those not connected to navigable streams, migratory bird paths, etc. In the Yorkville area are such wetlands which may need to be preserved. This ordinance will establish a uniform policy and standards for these situations. Attorney Kramer turned the floor over to Becca Cerf of Conservation Design Forum (CDF) for further information. Ms. Cerf addressed the Council and distributed an outline for the ordinance. She discussed that the draft ordinance was developed by using the best of the language from four other ordinances in effect in Kane, Lake and DuPage Counties as well as the state of Michigan. CDF also tried to be respectful of developers while drafting the ordinance. The standards for the protection of the wetlands include buffer requirements, wetland hydrology protection, detention in wetlands, discharge into the wetlands and the protection of all preserved wetlands. She stated that the ordinance would require baseline data on all wetland areas and after development occurs the periodic re- evaluation of the areas. There will also be language regarding wetland quality; i.e. roadside ditches versus high quality wetlands and will also include the standard requirements for _. a wetland permit. The floor was open to public comments or questions. i Richard Guerard with Wyndham Deerpoint Homes stated that he had a number of comments for the Council but he felt it would be more appropriate to address them in a letter form. He asked the Council to approach the ordinance as if they were willing to apply the regulations in it to the City itself. He stated that with this in mind, they will see how onerous and expensive the ordinance can be. He felt that a swale, ditch or anything like it that is man made should never be considered wetland. He also asked for flexibility with the width of buffers. There was no further public comments so the floor was opened to the Council. i Alderman Sticka asked if someone has already built a structure in an area that is considered a buffer area would this be a violation. Ms. Cerf stated that the ordinance would not affect anything currently in place but anything developed after the ordinance's effective date. He asked if the types of plants helped to designates the quality of wetlands. Ms. Cerf stated that sediments and nutrients in a wetland change the type of vegetation growing in them. Alderman Sticka pointed out that Purple Loosestrife is found growing around attractive wetlands areas. He asked that since this plant is not deemed "valuable" would its presence indicate that the wetland does not need as much protection as one without the plant. Ms. Cerf indicated that Purple Loosestrife is evasive, has no natural insect to control it, is not a native plant and wetlands with this plant loose their value in terms of function. However, this plant can be useful in detention areas which are a lower quality wetland area. Mayor Prochaska noted that page 9, #8 of the ordinance refers to the use of buffer areas as passive recreation areas. He asked Attorney Kramer if this would conflict with the Land Cash Ordinance. Attorney Kramer did not feel it necessarily conflicted with it. He noted that CDF was involved in the restoration and creation of a wetland area in the Deerpath Creek development in Oswego. The Park District did take this as part of their land cash contribution because they wanted the area preserved. Mayor Prochaska clarified that a buffer area could be offset by credit towards land cash if it is designed correctly and Attorney Kramer stated that this was correct. II The Minutes of the Reeular MeetinLy of the Citv Council - December 10. 2002 - page 3 Alderman Sticka asked if the ordinance addressed any existing situations where a wetland area is being polluted. Ms. Cerf stated that this falls under the Environmental Protection Agency's (EPA) jurisdiction and needs to be reported to them. Alderman Sticka stated that the ordinance was named the United City of Yorkville Wetland Protection Ordinance and he felt it should protect existing wetlands. Attorney Kramer explained that the intent is to protect wetlands from the design stage. Alderman Sticka pointed out Section 1.3 of the ordinance and stated that it does not mention the fact that the ordinance is just for new development. He felt the purpose of the ordinance should be clarified. Mayor Prochaska asked if an existing structure that is grand fathered into a wetland area is destroyed for whatever reason could it be rebuilt. Attorney Kramer noted that language was taken from the Kane County ordinance which is very restrictive and protects non jurisdictional wetlands. They put some savings provisions in to address circumstances such as this. The structure could be rebuilt within the original footprint but if it is changed or expanded the new ordinance would apply. Mr. Graff made a clarification that notices regarding this public hearing were sent out to current developments that will be going before the Plan Commission. He asked in the event written comments are received how they should be handled. Mayor Prochaska stated that any comments should be copied to the Council as they are received. Mr. Graff asked Alderman Sticka how he would like the purpose of the ordinance clarified and Alderman Sticka stated that the first item under the purpose of the ordinance should be that this addresses new development and does not pertain to existing wetlands. i Alderman James asked if the ordinance was going back to committee and it was decided to send it back to the Public Works Committee in January for their recommendation of the revised draft. There were no further comments or discussions. Mayor Prochaska entertained a motion to close the public hearing for the Wetland Protection Ordinance. So moved by Alderman Kot; seconded by Alderman James. Motion approved by a roll call vote. Ayes -7 Nays -0 Besco -aye, Burd -aye, James -aye, Kot -aye, Spears -aye, Sticka -aye, Anderson -aye Park and Open Space Developers Policy Mayor Prochaska entertained a motion to go into public hearing for the Park and Open Space Developers Policy. So moved by Alderwoman Burd; seconded by Alderman Anderson. Motion approved by a roll call vote. Ayes -7 Nays -0 Anderson -aye, Besco -aye, Burd -aye, James -aye, Kot -aye, Spears -aye, Sticka -aye Park and Recreation Director Laura Brown addressed the Council and explained that a policy has been developed as a guideline for accepting park land from developers. The first section is definitions of terms. The second is for accepting land /cash donations and lists the variables depending on the development, land situation, etc. The third section clarifies the minimum acceptable standards for the donations the Park Board will accept. This section also provides for resident input for park sites. The floor was opened for public comments for questions. Richard Guerard of Wyndham Deerpoint Homes asked the Park Board to consider dry ponds /detention areas that are under drained and graded properly for recreational areas and give the developer partial credit towards land cash. He commented that the four bedroom minimum for single- family homes used to calculate total population should be reconsidered. He felt that three bedroom homes had less impact on the schools and parks. He also commented that he like the idea of trail standards but suggested the there should be more flexibility them. Mayor Prochaska noted that it had been discussed to use a percentage based on an average when calculating total population. Mr. Graff stated that an analysis was done and it was noticed that the average of four bedroom homes is well over 50 %. He also stated that other communities have a 75/25 mix, 75% four bedrooms and 25% three bedrooms and this could be something to consider. Attorney Kramer agreed that it is more common to have the split. There were no further public comments or questions. i Mayor Prochaska stated that Mr. Guerard's comment regarding detention areas was a good comment and something to consider. The Minutes of the Re ular Meeting of the City Council December 10, 2002, 2002 - pale 4 S i Park Board member Ken Koch commented that it will be good to have a policy in place for future dealings with developers. Mr. Graff noted that City Planner Mike Schoppe and some developers are putting comments together which he will make available to everyone when he receives them. Mayor Prochaska suggested that the Park Board review the comments and see if they need to adjust the policy. The City Council agreed. Alderman James suggested that the policy be change to notate the Land/Cash Ordinance 1996 -03 without the verbiage. There were no further comments or discussions. Mayor Prochaska entertained a motion to close the public hearing for the Park and Open Space Developers Policy. So moved by Alderman Anderson; seconded by Alderwoman Burd. Motion approved by a roll call vote. Ayes -7 Nays -0 Besco -aye, Burd -aye, James -aye, Kot -aye, Spears -aye, Sticka -aye, Anderson -aye 2002 Tax Lew Mayor Prochaska entertained a motion to open the public hearing for the 2002 Tax Levy. So moved by Alderman Anderson; seconded by Alderwoman Burd. Motion approved by a roll call vote. Ayes -7 Nays -0 - - - - ticka -a Anderson -aye, Besco aye, Burd -aye, James aye, Kot aye, Spears aye, e S y Attorney Kramer stated that this is the time to extend the amount of tax revenues received in the previous year. If there is an increase from last years extension higher than 5% there needs to be a truth in taxation hearing. The City is over the 5% in terms of the actual dollars received from real estates taxes. However, due to the growth of the area, the Equalized Assessed Valuation (EAV) has grown so the actual tax rate for the city has declined. Mayor Prochaska noted that the dollar amount that the City is looking to extend is $1,476,592.00 which represents a 17.6% increase over the previous year ($1,255,485.21). He stated that the expected EAV is $161,800,530.00 for an increase of 19.67 %. The policy has been to take the increase and work backwards to try and keep the City portion of the real estates taxes from increasing. The floor was opened for public comments or questions. There were none. The floor was opened for Council comments or questions. There were none. The Mayor noted that the ordinance will come before the Council for a vote and the next City Council meeting on December 17, 2002. Mayor Prochaska entertained a motion to close the public hearing for the 2002 Tax Levy. So moved by Alderman Anderson; seconded by Alderwoman Spears. Motion approved by a roll call vote. Ayes -7 Nays -0 Besco -aye, Burd -aye, James -aye, Kot -aye, Spears -aye, Sticka -aye, Anderson -aye PLANNING COMMISSION /ZONING BOARD OF APPEAL /SIGN REVIEW BOARD, No report. i MINUTES FOR APPROVAL A motion was ma&by Alderman Anderson to approve the minutes of the City Council meeting from November 26, 2002: seconded by Alderman James. Motion approved by a viva voce vote. A motion was made by Alderman Anderson to approve the minutes of the Committee of the Whole meeting from October 15, 2002: seconded by Alderwoman Burd. I Motion approved by a viva voce vote. BILLS FOR APPROVAL A motion was made by Alderwoman Spears to approve the paying of the bills listed on the Vendor Invoice Register #226 dated December 6, 2002. Checks in the amount of $454,117.78 The Minutes of the Regular Meeting of the Citv Council - December 10, 2002, 2002 - page 5 (vendor), $98,040.54(payroll period ending 11/16/02), for a total of $552,158.32: seconded by Alderwoman Burd. Motion approved by a roll call vote. Ayes -7 Nays -0 Besco -aye, Burd -aye, James -aye, Kot -aye, Spears -aye, Sticka -aye, Anderson -aye REPORTS ATTORNEY'S REPORT Attorney Kramer noted that the closing on the CorLands property along the river would be December 18, 2002. MAYOR'S REPORT Christmas Walk Downtown Mayor Prochaska reported that the City would have its annual Christmas Walk on December 13, 2002. The Christmas tree will be lit at 6:00 P.M. on the corner of Hydraulic and Bridge Streets. House Walk and Christmas Walk at Countryside Center Mayor Prochaska reported that on Saturday, December 14, 2002 Countryside Center will be having its Christmas Walk and the Yorkville Juniors Women's Club will also have a Christmas House Walk. Park Board, Fagade Committee and Human Resource Committee Openings Mayor Prochaska reported that he has received a letter of resignation from Bill Wedge on the Park Board and there are now two openings on the Board. Also there are openings on the Fagade Committee and the Human Resource Committee. Anyone interested in serving on these committees should contact him. Letter of Thanks Mayor Prochaska read a letter of thanks sent to the City from Mr. Brook McDonald of the Conservation Foundation regarding its support of the Kendall County Forest Preserve District Referendum. i CITY CLERK'S REPORT - No report. CITY TREASURER'S REPORT City Treasurer Allen requested a motion to accept the October 2002 Treasurer Report as presented. So moved by Alderman Anderson; seconded by Alderman James. Motion approved by a roll call vote. Ayes -7 Nays -0 Spears -aye, Sticka -aye, Anderson -aye, Besco -aye, Burd -aye, James -aye, Kot -aye I Treasurer Allen expressed his concern regarding what he could present in the City Treasurer report. He stated that when someone has something to say that the Mayor wants to hear he is willing to listen to them however because he is not willing to say everything the Mayor wants to hear, he is not able to speak freely. He felt that it was not appropriate for the Mayor to constrain his statements concerning things not on the agenda. The Mayor noted that when Mr. Allen gives his Treasurer's Report it is accepted. CITY ADMINISTRATOR'S REPORT No report. FINANCE DIRECTOR'S REPORT No report. DIRECTOR OF PUBLIC WORKS REPORT -- Director Eric Dhuse reported that the was a water main break in front of the Middle School earlier in the day but it has been repaired. CHIEF OF POLICE REPORT Chief Martin reported that there was a break in a wire which controls the railroad crossing on Route 47 during the night but it was fixed by around 9:30 this morning. DIRECTOR OF PARKS & RECREATION Director Laura Brown reported that there will be Christmas caroling in Town Square Park on December 20, 2002 at 7:00 P.M. i i I The Minutes of the Regular Meeting of the Citv Council - December 10. 2002.2002 - page 6 COMMUNITY & LIAISON REPORT Park Board Meeting Alderman James reported that at the Park Board meeting on December 4, 2002 there was a presentation by Burbach Aquatics. It was determined that a 12,000 square foot pool would be needed in the next three to five years. In another ten to fifteen years, a 30, 000 square foot pool would be needed. It was suggested to have a 15,000 square foot pool on each side of town. They also identified that six to seven acres would be needed. They presented different options and the - cost for them. Ms. Brown added that Burbach will be presenting another draft which will include operation costs along with construction costs in January. The Board will then have a full document with a comparison analysis, design concept and costs. Library Board Meeting Alderman Sticka reported that the Library Board has received preliminary information from the architect showing potential layouts for the new library. The architects are hoping to make a presentation to the City Council in February. COMMITTEE REPORTS PUBLIC WORKS COMMITTEE REPORT Grande Reserve - Metro Traffic Studv Contract A motion was made by Alderman Kot to approve the agreement between Metro Transportation Group, Inc. and the United City of Yorkville for the traffic engineering services for Grande Reserve and authorize the City Engineer to sign the agreement. (Note: This study is funded by the developer MPI); seconded by Alderman Sticka. Alderman Kot stated that Metro has indicated that they can do more counts at an additional cost and he asked if the additional cost would be paid for by the developer. Mr. Graff stated that MPI is committed to pay for all the necessary needs and/or request of the City and they will put up a deposit to cover the fees.. Motion approved by a roll call vote. Ayes -7 Nays -0 Sticka -aye, Anderson -aye, Besco -aye, Burd -aye, James -aye, Kot -aye, Spears -aye Revised Route Schedule - Waste Management A motion was made by Alderman Kot to approve the revised route schedule from Waste Management for garbage pickup beginning in March 2003; seconded by Alderman Sticka. i Alderman Kot commented that Waste Management sent a letter giving a specific date of March 4, 2003 for the new service pickup. Waste Management is committed to doing all the promotion and advertising in an effort to notify residents of the change. � Motion approved by a roll call vote. Ayes -7 Nays -0 Anderson -aye, Besco -aye, Burd -aye, James -aye, Kot -aye, Spears -aye, Sticka -aye Eastern Fox River Crossing Studv A motion was made by Alderman Kot to approve the agreement with Smith Engineering Consultants, Inc. for a feasibility study for the eastern Fox River crossing not to exceed $26,250.00 and to authorize the City Engineer to sign the agreement; seconded by Alderman Sticka. Motion approved by a roll call vote. Ayes -7 Nays -0 Besco -aye, Burd -aye, James -aye, Kot -aye, Spears -aye, Sticka -aye, Anderson -aye Water Reports A motion was made by Alderman Kot to accept the September and October 2002 Water Reports as presented; seconded by Alderman James. Motion approved by a viva voce vote. 2002 Snow Plan A motion was made by Alderman Kot to approve the 2002 Snow Plan as presented by the Public Works Director; seconded by Alderman Anderson. I Alderman Kot commented that the plan was expanded to include any new streets brought into the City. I Motion approved by a roll call vote. Ayes -7 Nays -0 James -aye, Kot -aye, Spears -aye, Sticka -aye, Anderson -aye, Besco -aye, Burd -aye I The Minutes of the Regular Meeting of the Citv Council - December 10.2002.2002 —Wage 7 Cannonball Estates Phase I and 11- Letter of Credit Reduction A motion was made by Alderman Kot to approve the Letter of Credit #3 Reduction for Phase I and Phase II of Cannonball Estates as recommended by the City Engineer; seconded by Alderman James. Motion approved by a roll call vote. Ayes -7 Nays -0 Kot -aye, Spears -aye, Sticka -aye, Anderson -aye, Besco -aye, Burd -aye, James -aye Slddsteer & Snow Blower Bid A motion was made by Alderman Kot to approve the purchase of a skidsteer and snow blower from Atlas Bobcat in the amount of $15,022.20; seconded by Alderman Sticka. Motion approved by a roll call vote. Ayes -7 Nays -0 Spears -aye, Sticka -aye, Anderson -aye, Besco -aye, Burd -aye, James -aye, Kot -aye ECONOMIC DEVELOPMENT COMMITTEE REPORT (Ordinance) 2002 -51 and 2002 -52 The Highlands Annexation Agreement A motion was made by Alderman Sticka to approve an ordinance for the annexation and residential planned unit development zoning for the property commonly known as the Wehrli parcel approximately 134 acres and to approve an ordinance authorizing the amendment to annexation agreement, annexation agreement and planned unit development agreement known as The Highlands Subdivision between the United City of Yorkville and Wyndham Deerpoint Homes, an Illinois partnership Creek Partners, L.L.C. an Illinois liability company; seconded by Alderman Besco. Motion approved by a roll call vote. Ayes -7 Nays -0 Spears -aye, Sticka -aye, Anderson -aye, Besco -aye, Burd -aye, James -aye, Kot -aye I Execution of Fox Highland Agreement A motion was made by Alderman Sticka to approve the Mayor and City Clerk to execute the amendment to annexation agreement, annexation agreement and planned unit development agreement known as The Highlands Subdivision between the United City of Yorkville and Wyndham Deerpoint Homes, an Illinois partnership Creek Partners, L.L.C. an Illinois liability company and to authorize the Mayor and City Clerk to sign the agreement; seconded by Alderman Anderson. i Motion approved by a roll call vote. Ayes -8 Nays -0 Anderson -aye, Besco -aye, Burd -aye, James -aye, Kot -aye, Spears -aye, Sticka -aye, Prochaska -aye PC 2003 -23 Fox River Bluffs: 1% Mile Review A motion was made by Alderman Sticka to recommend to Kendall County approval of PC 2002- 23 Fox River Bluffs residential subdivision with the following recommendation to comply with our subdivision control ordinance standards pertaining to the estate zoning classification; seconded by Alderman Anderson. Motion approved by a roll call vote. Ayes -7 Nays -0 Besco -aye, Burd -aye, James -aye, Kot -aye, Spears -aye, Sticka -aye, Anderson -aye Building Reports A motion was made by Alderman Sticka to accept the September 2002 Building Permit Report; seconded by Alderman Anderson. I -- Motion approved by a viva voce vote. PUBLIC SAFETY COMMITTEE REPORT Monthly Police Reports A motion was made by Alderman Anderson to accept the October 2002 Monthly Police Reports; seconded by Alderwoman Spears. Motion approved by a viva voce Request to Add Additional Sergeant's Position A motion was made by Alderman Anderson to approve the request by the Chief of Police to add an additional Sergeant's position; seconded by Alderman James. Alderman Anderson noted that this would be effective after January 1, 2003 and will place a sergeant on each shift. i i I The Minutes of the Regular Meeting of the Citv Council - December 10. 2002 - page 8 Motion approved by a roll call vote. Ayes -7 Nays -0 Kot -aye, Spears -aye, Sticka -aye, Anderson -aye, Besco -aye, Burd -aye, James -aye ADMINISTRATION COMMITTEE REPORT Aurora Tourism Contract A motion was made by Alderwoman Spears to approve the Fourth Amended Intergovernmental Cooperation Agreement between the cities of Yorkville, Aurora, Plano, and the villages of North - I Aurora, Sugar Grove and Montgomery, for services with the Aurora Area Convention & Tourism Council and to authorize the Mayor and City Clerk to sign the agreement; seconded by Alderwoman Burd. Mayor Prochaska noted that while the City searches for an alternative, a program should be in place. Alderman Sticka commented he did not disagree with this but did not feel the contract needed to be for three years. I Motion approved by a roll call vote. Ayes- 5 Nays -2 Spears -nay, Sticka -nay, Anderson -aye, Besco -aye, Burd -aye, James -aye, Kot -aye Sponsorship Proposal for Park Brochure A motion was made by Alderwoman Spears to approve the sponsorship proposal for the Park and Recreation Brochure as recommended by the Park and Recreation Board; seconded by Alderman James. Motion approved by a roll call vote. Ayes- 7 Nays -0 Spears -aye, Sticka -aye, Anderson -aye, Besco -aye, Burd -aye, James -aye, Kot -aye (Ordinance) 2002 -53 Refinancing of Citv Hall A motion was made by Alderwoman Spears to approve an ordinance authorizing and providing for a Refunding Loan Agreement for the purpose of refunding an outstanding installment contract of the United City of Yorkville, and authorizing and providing for the issue of $1,280,000 Debt Certificates, Series 2002A. Furthermore, authorizing the Mayor, City Clerk, City Treasurer and Finance Director to execute and sign the documents; seconded by Alderman Anderson. Motion approved by a roll call vote. Ayes- 7 Nays -0 Sticka -aye, Anderson -aye, Besco -aye, Burd -aye, James -aye, Kot -aye, Spears -aye EXECUTIVE SESSION Mayor Prochaska entertained a motion to go into executive sessions for the purpose of collective negotiating for the purpose of negotiating matters between public employers and their employees or representatives. He asked that the City Adminsitrator, City Clerk, City Attorney, Chief of Police, City Treasurer and Labor Attorney Bob Smith be included. He stated that there would be no action taken after the session. So moved by Alderman Anderson; seconded by Alderman Besco Motion approved by a roll call vote. Ayes -7 Nays -0 Anderson -aye, Besco -aye, Burd -aye, James -aye, Kot -aye, Spears -aye, Sticka -aye I Executive session was entered at 8:20 P.M. The Council returned to regular session at 9:30 P.M. ADDITIONAL BUSINESS None. ADJOURNMENT Mayor Prochaska entertained a motion to adjourn. So moved by Alderman Anderson; seconded by Alderwoman Burd. Motion approved by a viva voce vote. Meeting adjourned at 9:30 P.M. Minutes submitted by: Jacquelyn Milschewski, ity Clerk City of Yorkville, Illinois i i II 'I jl •�i i it II I III I� ICI i� I r l �i �I II it �I ICI .I l i d i II �_ i! uo 4-.rq�l UOQ— No i SPEER FINANCIAL, INC. KEVIN W. WCANNA DAVID F. PHILLIPS LARRY P. BURGER PRESIDENT SR VICE PRESlr*,Ir " VICE PRESIDENT December 10, 2002 The Honorable Arthur F. Prochaska, Jr. and Members of the City Council United City of Yorkville 800 Game Farm Road Yorkville, Illinois 60560 Dear Mayor Prochaska and City Council Members: i PUBLIC' FINANCE CONSULTANTS SINCE 1954 DANIEL D. FORBES BARBARA L_ CHEVALIER VICE, PRESIDEW VICE. PRE3 LNr Bernardi Securities, Inc., Chicago, Illinois, has submitted a bid for the purchase of $1,280,000 Refunding Debt Certificates, Series 2002A being sold by United City of Yorkville, Kendall County, Illinois. Upon examination, it is our opinion that the bid is favorable to the City and should be accepted. We therefore recommend that the bonds be awarded to the bidder at the net interest cost of 4.8879 %. The amounts and rates for each year are as follows: Year Principal Rates 2004 ... ............................... $ 45,000 ............................... 2.150% 2005 ... ..............:................ 50,000 ............................... 2.150% 2006 ... ............................... 50,000 ............................... 3.000% 2007 ... ............................... 50,000 ............................... 3.000% 2008 ... ............................... 50,000 ............................... 4.000% 2009 ... ............................... 55,000 ............................... 4.000% 2010 ... ............................... 55,000 ............................... 4.000% 2011 ... ............................... 60,000 ............................... 4.300% 2012 ... ............................... 60,000 ............................... 4.300% 2013 ... ............................... 65,000 ............................... 4.550% 2014 ... ............................... 65,000 ............................... 4.550% 2015 ... ............................... 70,000 ............................... 4.700% 2016 ... ............................... 75,000 ............................... 4.700% 2017 ... ............................... 80,000 ............................... 4.900% 2018 ... ............................... 80,000 ............................... 4.900% 2019 ... ............................... 85,000 ............................... 5.000% 2020 ... ............................... 90,000 ............................... 5.000% 2021 ... ............................... 95,000 ............................... 5.150% 2022 ... ............................... 100,000 ............................... 5.150% Sincerely, J Barbara L. Chevalier Vice President BLC /rmr SUITE 4100.ONE NORTH LASALLE STREET - CHICAGO, ILLINOIS 60602 - (312) 346 -3700 • FAX (312) 346 -8833 SUITE 608.531 COMMERCIAL STREET • WATERLOO, IONVA 50701 - (319) 291 -2077 - FAX (319) 291 -8628 CITY OF YORKVILLE Refunding of Series 1999 /CC Debt Certificates DEBT SERVICE SCHEDULE Date Principal Coupon Interest Total P +I FISCAL TOTAL 12/30Y1002 - - 7/012 003 - - 30,4,469.83 69.83 30 - 1/012004 45,000.00 2.150% 27,982.50 72,982.50 103,452.33 7/012004 - - 27,498.75 27,498.75 - 1/012005 50,000 -00 2.150% 27,498.75 77,498.75 104,997.50 71012005 - - 26,961.25 26,961.25 - 1 /01/2006 50,000.00 1000% 26,961.25 76,961.25 103,922.50 7/012006 - - 26,211.25 26,211.25 1 /012007 50,000.00 3.000% 26,211.25 76,211 -25 102,422.50 7/012007 - - 25,461.25 25,461.25 - 1/012008 50,000.00 4.000% 25,461.25 75,461 -25 100,922.50 7 /012008 - - 24,461.25 24,461.25 - 1/012009 55,000.00 4.000% 24,461.25 79,461.25 103,922.50 7/012009 - - 23,361.25 23,361.25 1/012010 55,000.00 4.000% 23,361.25 78,361.25 101,722.50 7/0112010 - - 22,261.25 22,261.25 - 1/012011 60,000.00 4.300% 22,261.25 82,261.25 104,522.50 7 /012011 - - 20,971.25 20,971.25 - 1 /012012 60,000.00 4.300% 20,971.25 80,971.25 101,942.50 71012012 - - 19,681.25 19,681.25 - 1/012013 65,000.00 4.550% 19,681.25 84,681.25 104,362.50 7 /012013 - - 18,202.50 18,202 -50 - 1/012014 65,000.00 4.550% 18,202.50 83,202 50 101,405.00 7/012014 - - - 16,723.75 16,723.75 - 1/012015 70,000.00 4.700% 16,723.75 86,723.75 103,447.50 7 /012015 - - 15,078.75 15,076.75 - 1/012016 75,000.00 4.700% 15,078.75 90,078.75 105,157.50 7 /012016 - - 13,316.25 13,316.25 - 1/012017 80,000.00 4.900% 13,316.25 93,316 -25 106,632.50 7/012017 - 11,356.25 11,356.25 11012018 80,000.00 4.900% 11,356.25 91,356 -25 102,712.50 7/012018 - - 9,396.25 9,396.25 - 1/01/2019 85,000.00 5.000% 9,396,25 94,396.25 103,792.50 71012019 - - 7,271.25 7,271.25 - 1 /012020 90,000.00 5.000% 7,271.25 97,271.25 104,542.50 7 1012020 - - 5,021.25 5,021 -25 - 1/012021 95,000.00 5.150% 5,021.25 100,021.25 105,042.50 7 /012021 - - 2,575,00 2,575.00 - 1/012022 100,000.00 5.150% 2,575.00 102,575.00 105,150.00 Total 1,280,000.00 - 690,072.33 1,970,072.33 - YIELD STATISTICS Accrued Interest from 12/15/2002 to 12/30/2002 Bond Year Dollars... . ......... ............................... AverageLife........... ....................... ...... ................ Average Coupon ............................... ........ --- .... Net Interest Cost ( NIC) ..................................... I .......... . ....... _. True Interest Cost M C) ........................... ............................... Bond Yield for Arbitrage Purposes ........................ .------------ .. All Inclusive Cost (AIC) .......................... ............................... ........................ 2,331.88 $14,536.89 ...................... 11.357 Years ......... 4.7470427% ......................... 4- 8879257% .......................... 4.8969073% ............ .............. 4.7032071% 5.1101887% IRS FORM 8038 Net Interest Cost. -- ....................................... ............................... 4.7484228% Weighted Average Maturity ............................. .................... ....--- -- -- - -- --- -- .. 11.315 Years Speer Financial, Inc. File = Yorkvi1l.sf- Ser02refdg99City Hall- SINGLE PURPOSE Public Finance Consultants Since 1954 12/102002 9:43 AM Page 1 OUTLINE FOR UNITED CITY OF YORKVILLE WETLAND PROTECTION ORDINANCE 1. Protection of Isolated Waters including wetlands • US Army Corps of Engineers loss of jurisdiction • State, County & local governments providing protection 2. Why protect isolated wetlands? Wetland functions include: - water quality improvement through absorption and filtering - habitat for wildlife - assist with floodwaters - support biodiversity - provide open space - create recreational opportunities 3. Language of Yorkville's Wetland Protection Ordinance draws from several other ordinances. Standards for protection of wetlands - Buffer requirements - Wetland hydrology protection - Detention in wetlands - Discharge into wetland - Protection of all preserved wetlands • Wetland quality —� degree of protection (roadside ditches vs. high quality wetlands) 4. Standard requirements for Wetland Permit