2000-04-04 Regular Meeting
SERVICE DISTRICT #1
BOARD MEETING
APRIL 4, 2000
The meeting was called to order by Chair Kevin Arndt at 7:30 p.m. in the Bayside Fire
Department.
Members Present:
Jennifer Spencer
Kaye McClain
Robert Casey
Kevin Arndt
RECEIVED
Members Absent:
Ed Mahoney
Scott Arndt
Robert Greene
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PUBLIC COMMENT
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None
ACCEPTANCE OF AGENDA
Jennifer Spencer moved to accept the agenda. Robert Casey seconded. Motion passed by
unanimous voice vote.
ACCEPTANCE OF MINUTES
Robert Casey moved to accept the minutes of March 14, 2000. Kaye McClain seconded.
Motion passed by unanimous voice vote.
FINANCIAL REPORT
The Board reviewed the Financial Report. Robert Casey moved to acknowledge the receipt of
the Financial Report. Jennifer Spencer seconded. Motion passes by unanimous voice vote.
OLD BUSINESS
Paving
Kevin Arndt handed out information regarding potential bond issue costs for paving within
Service District #1. Karl Short based the numbers on semi-annual payments. If the Service
District borrowed $3,000,000 the semi-annual payments would be $151,570 for 20 years. If the
Service District wanted to pay back $3,000,000 in ten years, the semi-annual payment would be
$220.745 (and the mill rate would be 3.45). The cost ofa bond is approximately 10%.
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Karl Short mentioned that the General Obligation bond was not a good idea because it would
obligate all of the Borough people and village people. Karl suggested doing a Revenue Bond
without doing a special assessment (a special assessment is not tax deductible). Karl stated that a
Revenue Bond does not have to be voted on by the people. Kevin feels that it would be best if
the paving issue goes before the people for a vote even though it's not required.
The next step would be to get the Borough to endorse the paving in Service District # 1 so it can
be on the ballot in the next election.
NEW BUSINESS
None
PUBLIC COMMENT
None
BOARD COMMENTS
Kaye stated that she appreciates the positive approach of the Board in handling the paving issue.
Robert Casey mentioned concern about the junk vehicles throughout the Service District. Kevin
asked him to speak with Eileen Probasco at the Borough.
Kevin Arndt stated that he is glad that the paving issue is before the Board. Kevin scheduled a
Public Hearing for Tuesday, April 18th.
ADJOURNMENT
The meeting adjo(u~r~~d at 8:05 p.m.
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