Board of Aldermen 2-12-2020 Page 11
UNFINISHED BUSINESS — RESOLUTIONS
R-20-001, Amended
Endorsers: Mayor Jim Donchess
Alderman-at-Large Lori Wilshire
SECOND AMENDMENT TO R-18-001 “AUTHORIZING THE MAYOR AND CITY TREASURER TO
ISSUE BONDS NOT TO EXCEED THE AMOUNT OF FIFTEEN MILLION FIVE HUNDRED
THOUSAND DOLLARS ($15,500,000) FOR THE PERFORMING ARTS CENTER LOCATED AT 201
MAIN STREET”
Given its second reading;
MOTION BY ALDERMAN SCHMIDT TO AMEND R-20-001BY REPLACING IT WITH THE PROPOSED
BLUE COPYAMENDMENTS MADE AT THE BUDGET REVIEW COMMITTEE MEETING BY ROLL
CALL
ON THE QUESTION
Alderman Lu
| just have to point out that currently it seems that even if this passes, there is still an unknown funding gap
and it seems precarious to me with the amount of discussion that we’ve had on this, that our $15.5 million
dollar bond, our $4 million dollars coming from the private group ...
President Wilshire
Can you save this for the discussion on the — we are asking for comment on the amendment at this point.
So that would be in order when we ...
Alderman Lu
The amendment is to extend the ...
President Wilshire
So yeah if you are talking on the amendment that we made, that’s fine.
Alderman Lu
The amendment though is to either not continue this authorization or to continue it. Is that correct? Well
what could | talk about possibly except the value or something to the effect, something that pertains to the
Resolution itself.
President Wilshire
It’s whether or not you support the amendment or you have a discussion about the amendment itself; the
date the extension of time?
Alderman Lu
OK | feel we should not be extending the Resolution to bond something that we don’t have a clear idea of
where the rest of the funds are going to come from. I’m not just talking about not understanding how well
the Capital Campaign is going but at this point, the cost of the project has increased to $24 million and it
seems to be me we really need to get a sense of you know why $15.5 million when we know that is not
going to get us to the price tag?
