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b. Ms. Christensen presented a resolution accepting Jeffery J. Jacobson's Offer to Purchase Lots 291 & 292 of Poff's Fourth Sun Valley in the City of Beloit. She indicated that the City has made several efforts to encourage private development of the property in the past, but the tax credits for these projects were not approved. Ms. Christensen said that staff recommends the Council accept the offer of$2,000 to purchase the two vacant lots. Councilor Luebke made a motion to adopt the resolution, and Councilor De Forest seconded. Councilor De Forest asked if the City is currently marketing this property to adjacent land owners, and Ms. Christensen said that the City is not but that neighbors may hear about this transaction and make additional offers. The motion carried 7-0. File 6667 c. Finance and Administrative Services Director Paul York presented an Initial Resolution authorizing General Obligation Bonds in an amount not to exceed $2,315,000 for Street Improvement Projects. Mike Harrigan, Ehlers and Associates, summarized the pre-sale report and said that the number of resolutions is required because Wisconsin Statutes require a separate resolution for each intended purpose for borrowing. He said that the City will conduct this as a competitive sale, offering underwriters throughout the nation the opportunity to purchase the bonds. Councilor Luebke made a motion to adopt the resolution, and Councilor Leavy seconded. The motion carried 7-0 by roll call vote. File 8514 d. Mr. York presented the Initial Resolution authorizing General Obligation Bonds in an amount not to exceed $345,000 for Park and Public Grounds Projects. Councilor Leavy made a motion to adopt the resolution, and Councilor Spreitzer seconded. The motion carried 7-0 by roll call vote. File 8514 e. Mr. York presented the Initial Resolution authorizing General Obligation Bonds in an amount not to exceed $895,000 for Fire Department Equipment. Councilor De Forest made a motion to adopt the resolution, and Councilor Luebke seconded. The motion carried 7-0 by roll call vote. File 8514 f. Mr. York presented the Initial Resolution authorizing not to exceed $3,820,000 General Obligation Refunding Bonds. Councilor Kincaid made a motion to adopt the resolution, and Councilor De Forest seconded. The motion carried 7-0 by roll call vote. File 8514 g. Mr. York presented a resolution directing Publication of Notice to Electors relating to Bond Issues. Councilor Leavy made a motion to adopt the resolution, and Councilor Luebke seconded. The motion carried 7-0 by roll call vote. File 8514 h. Mr. York presented a resolution providing for the Sale of not to exceed $7,375,000 General Obligation Corporate Purpose Bonds, Series 2012A. Councilor Leavy made a motion to adopt the resolution, and Councilor Spreitzer seconded. The motion carried 7-0 by roll call vote. File 8514 i. Mr. York presented an Initial Resolution Authorizing the Issuance of Lease Revenue Bonds of the Community Development Authority of the City of Beloit, Series 2012. Mr. Harrigan added that this is a revenue bond, which will be paid back through revenue in TID#5, not by property taxes. Councilor Van De Bogart made a motion to adopt the resolution, contingent on the approval of the Community Development Authority. Councilor Luebke seconded, and the motion carried 7-0 by roll call vote. File 6924/8514 j. City Manager Larry Arft presented a resolution approving the Agreement between the City of Beloit and Wisconsin Professional Police Association — Law Enforcement Employee Relations Division (WPPA-LEER). Manager Arft explained that the pension contribution and the salary increases, as well as the other portions of the agreement, are similar in number, scope, and economic impacts of that of the Fire Union's Agreement. Councilor Luebke made a motion to adopt the resolution, and Councilor Leavy seconded. Councilor Van De Bogart pointed out that any new hires in the police department will be contributing 5.9 percent of their salary to the Wisconsin Retirement System from their date of hire. The motion carried 7-0. File 6065 12. At 8:37 p.m., Councilor Leavy made a motion to adjourn the meeting, and Councilor Luebke seconded. The motion carried 7-0. ,i Reb- ca S. Hous: an, ity Clerk www.ci.beloit.wi.us Date approved by Council: 05-21-12