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OPERATIONS COMMITTEE MINUTES
July 21, 2015
Committee Members Present: Dana Ralph and Bill Boyce. Les Thomas, Chair, excused
absence.
The meeting was called to order by Dana Ralph at 4:02 p.m.
1. ROLL CALL
2. CHANGE TO AGENDA.
No Changes to agenda.
3. APPROVAL OF THE CHECK SUMMARY REPORTS DATED 6/1/2015 THROUGH
6/15/2015 AND 6/16/2015 THROUGH 6/30/2015.
B. Boyce moved to approve the check summary report dated 6/1/2015 through
6/15/2015. D. Ralph seconded the motion, which passed 2-0.
B. Boyce moved to approve the check summary report dated 6/16/2015 through
6/30/2015. D. Ralph seconded the motion, which passed 2-0.
4. APPROVAL OF MINUTES DATED JUNE 16, 2015.
B. Boyce moved to approve the Operations Committee minutes dated June 16, 2015.
D. Ralph seconded the motion, which passed 2-0.
S. 2015 PROPERTY INSURANCE PROGRAM REVIEW.
Risk Manager Chris Hills provided a summary of the City's property premiums for the
past couple of years and going forward to 2017. Without any regional natural disasters
the past couple of years, the City will be getting an 8.3 percent premium decrease.
Additionally, he was able to negotiate an increase in earthquake and flood damage
coverage from $50M to an astounding $75M for all city buildings with the exception of
the ShoWare Center on which coverage remains at $5M. As the levees continue to be
improved, it is the City's hope the property ShoWare sits on can be rezoned to a higher
rating for better earthquake and flooding coverage purposes. The property insurance
premium Mr. Hills negotiated includes a fixed cost for the 2016 — 2017 budgets.
6. RESOLUTION FOR A GRANT APPLICATION TO THE RECREATION AND
CONSERVATION OFFICE FOR TURF RENOVATION AT HOGAN PARK FIELD —
RECOMMEND ADOPTION.
Parks and Recreation Director Jeff Watling requested authorization to submit a $250K
grant application to the Recreation and Conservation Office (RCO) Youth Athletic
Facilities program to fund the conversion of Hogan Park Baseball Field #1 to a synthetic
turf, multi-use field. The year-round field would support baseball, softball, soccer,
lacrosse, and flag football. It would make Hogan Park the second city park to have
synthetic turf fields, and will provide greater insurance against inclement weather, thus
Operations Committee Minutes
July 21, 2015
Page: 2
improving Kent's ability to attract tournaments that provide an economic boost to Kent.
Mr. Watling explained that although Wilson playfield's turf product has performed great,
Parks staff will review other products that are available at this time.
Through the State budget process the City was awarded $500K for three separate park
reinvestments. As a significant reinvestment for Hogan Park field, the total cost of the
project will be approximately $2M. The two other projects that fall under the State
grant are dock replacement at Lake Meridian, and Morrill Meadows Park expansion for a
possible future recreational facility.
B. Boyce moved to recommend council adopt the resolution authorizing the submittal of a
grant application to the Recreation and Conservation Office, to assist in funding the
conversion of Hogan Park baseball field number one to a synthetic turf, multi-use field.
D. Ralph seconded the motion,which passed 2-0.
7. 2015 LTGO REFUNDING BONDS
Finance Director Aaron BeMiller reported that staff has been working with the City's
financial advisor, Piper ]affray & Co, and Bond Counsel, Pacifica Law Group, on
refunding the 2006 and 2008A General Obligations bonds. For maximum flexibility, the
City has included the 2008A series in this refunding ordinance, however, it is unlikely
that market conditions will exist in which the City will refund the 2008A series in 2015.
Though included in this refunding Ordinance, the City is in no way obligated to refund
these bonds if it is not deemed desirable to do so. The principal balance remaining on
the 2006 bonds is $9.4M and $19.995M on the 2008A bonds.
Although this passed unanimously by Committee, a request was made that this be
placed on the next Council agenda under "Other Business".
B. Boyce moved to recommend Council adopt an Ordinance providing for the issuance of
one or more series of limited tax general obligation refunding bonds of the City in the
aggregate principal amount of not to exceed $30,000,000 to refund certain outstanding
limited tax general obligation bonds of the City and to pay costs of issuing the bonds;
providing the form and terms of the bonds; and delegating the authority to approve the
final terms of the bonds. D. Ralph seconded the motion, which passed 2-0.
S. MAY FINANCIAL REPORT
Mr. BeMiller informed members that May's numbers look good which align with how April's
numbers looked.
The meeting was adjourned at 4:32 p.m. by D. Ralph.
Jennifer Hays
Operations Committee Secretary