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City Council Meeting Minutes August 1, 2017 <br />Pro -Tem Hughson, to approve the appointment of Sandy Clinton to the <br />Convention and Visitor Bureau Board and the appointment of Tricia Marquart to <br />the Commission on Children and Youth. The motion carried by the following vote: <br />For: 7- Mayor Thomaides, Mayor Pro -Tem Hughson, Deputy Mayor Pro Tem Prewitt, Council <br />Member Mihalkanin, Council Member Gonzales, Council Member Gregson and <br />Council Member Derrick <br />Against: 0 <br />21. Receive a Staff presentation and hold discussion regarding the preliminary Fiscal Year <br />2017-2018 Budget, and provide direction to Staff. <br />Heather Hurlbert, Director of Finance, reviewed Bond Projects & Tax Rate <br />Increase information. Ms. Hurlbert provided that the Bond included $29,400,000 <br />in projects and an increase of $1,900,000 in operating expenses for the Highpoint <br />Fire Station and the Library. Ms. Hurlbert provided the following information <br />related to tax rate increase options: <br />Estimated tax rate increase of 8.37 cents <br />• 4.60 cents was for debt service <br />• 3.77 cents was for operations <br />Full tax rate can be levied -3.77 cents will go to operations <br />• Can be used to add additional staff to Fire or Library in preparation for <br />expansion, fund one time expenses, or increase the fund balance <br />• Potential additional revenue of $1,200,000 in FY18 <br />• Can increase to the lower of the 56.79 or the rollback rate <br />4.60 cents will go to debt service fund <br />• Will be used for debt service once debt is issued <br />• Revenue collected over debt services can be used for debt defeasance <br />Council provided consensus for Staff to move forward with the following: <br />Recommend levying full tax rate increase <br />Continue preparing projects <br />Have a workshop with Dan Wegmiller from Specialized Public Finance in August <br />or September to discuss options for debt issuance <br />Form a Bond Oversight Committee <br />Explore project management options <br />Mrs. Hurlbert continued with the outside agency requests: <br />The Village Main <br />— Requested a lump sum payment <br />— Requested payment during FY18 <br />CASA <br />City of San Marcos Page 13 <br />