Crestview: Crestview Council Meeting
Summary. The Crestview City Council held a regular meeting on September 24, 2019, with Mayor debut Whitten and Councilman Harry LaBeouf absent but maintaining a quorum. The primary focus was on Resolution 19-29, which establishes the city's intent to reimburse capital expenditures through future tax-exempt financing and authorizes the pursuit of commercial financing for various city projects. The city manager explained that the resolution and related request for proposals would allow the city to seek commercial financing for up to $12.5 million to fund the East West Connector project, a new ladder truck, and other potential capital improvements. MW Financial Advisory Services LLC was previously contracted to evaluate financing options and recommended pursuing conventional financing rather than bond issuance due to better rates, shorter timelines, and opportunities for local bank participation. The council ultimately approved the resolution and authorized moving forward with the request for proposals.
Agenda Items
1. Approval of Minutes
Approval of council meeting minutes from June 24, July 22, and August 12
- No objections raised
- Minutes approved by consensus
2. Consent Agenda
Review and approval of consent agenda items
- No comments from council
- Approved by consensus
3. Resolution 19-29 - Financing for Capital Expenditures
Resolution establishing intent to reimburse capital expenditures with future tax-exempt financing and authorization for commercial loan RFP
- Need for financing East West Connector project ($8 million commitment)
- MW Financial Advisory Services recommendation for conventional financing over bonds
- Request for proposals up to $12.5 million to include ladder truck and other projects
- Better interest rates available now than expected in spring
- Opportunity for local bank participation
- Previous contract with MW Financial for $30,000
Motions & Votes
I move to adopt resolution 19 dash 29, accept the recommendations of MW Financial Advisory Services LLC and approve MW Financial LLC Services to proceed with requesting proposal from commercial financial financial institutions for the commercial loan in a not to exceed amount of $12,500,000
Moved by Council Member (Speaker 5), seconded by Council Member (Speaker 1 - Acting Mayor)
Not stated
Action Items
MW Financial Advisory Services to proceed with requesting proposals from commercial financial institutions for commercial loan
Assigned to MW Financial Advisory Services LLC
Frequently Asked Questions
What was decided at this meeting?
The Crestview City Council held a regular meeting on September 24, 2019, with Mayor debut Whitten and Councilman Harry LaBeouf absent but maintaining a quorum. The primary focus was on Resolution 19-29, which establishes the city's intent to reimburse capital expenditures through future tax-exempt financing and authorizes the pursuit of commercial financing for various city projects. The city manager explained that the resolution and related request for proposals would allow the city to seek commercial financing for up to $12.5 million to fund the East West Connector project, a new ladder truck, and other potential capital improvements. MW Financial Advisory Services LLC was previously contracted to evaluate financing options and recommended pursuing conventional financing rather than bond issuance due to better rates, shorter timelines, and opportunities for local bank participation. The council ultimately approved the resolution and authorized moving forward with the request for proposals.
What was on the agenda?
This meeting covered 3 agenda items: Approval of Minutes; Consent Agenda; Resolution 19-29 - Financing for Capital Expenditures.
How many motions were voted on?
1 motion were voted on during this meeting. See the Motions & Votes section above for each motion and its result.
What action items came out of this meeting?
1 action item were identified. See the Action Items section above for details and who they were assigned to.
Who attended this meeting?
4 members were recorded as present: Acting Mayor/Chair, City Manager, Clerk, Council Members.
Where can I watch the full recording?
The full video recording is available on YouTube or embedded at the top of this page.
What county is Crestview in?
Crestview is located in Okaloosa County, Florida. Browse other Okaloosa County meeting summaries to see what local governments across the county are working on.
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