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City Council Meeting Minutes March 5, 2019 <br />our financial advisor to choose the best financing option for short-term project <br />needs. <br />Ms Hurlbert provided that the City will do a competitive sale in which buyers <br />will submit bids to buy all CO bonds at a competitive price with the lowest bid <br />winning. She stated that Staff is confident that Standard and Poor's will <br />affirm the City's AA rating. <br />Ms. Hurlbert reviewed the Fiscal Year 2019 Project Summary. Please see <br />attachment Exhibit A for more information related to the Project Summary. <br />Discussion regarding how often projects are reviewed and prioritized in the <br />CIP. <br />Discussion was held regarding moving any possible projects to be funded with <br />cash and not being debt funded. <br />Discussion was held regarding an update on the CDBG-DR projects. Staff <br />indicated that they will be receiving that update next on the agenda item. <br />Discussion was held regarding residential property tax base vs. Industrial and <br />Commercial property tax base and what the cost of services are. Staff <br />indicated that they would research the costs of service amounts and what the <br />value of each tax dollar is going to pay for those services. <br />There were no further questions or direction provided. <br />2. Receive a Staff presentation and update regarding Community Development Block <br />Grant -Disaster Recovery (CDBG-DR) Projects, and provide direction to Staff. <br />Bert Lumbreras, City Manager, provided a brief introduction of this item and <br />asked for the Council's direction related to the allocations of these projects. <br />He introduced Laurie Moyer, Director of Engineering and CIP, and Jacqueline <br />Thomas, Senior Engineer. <br />Ms. Moyer further introduced Ms. Thomas and explained that her position was <br />one that was approved in this year's budget. Ms. Moyer reviewed the project <br />goals and the presentation agenda and then Ms. Moyer turned the presentation <br />over to Ms. Thomas. <br />Ms. Thomas provided an overview of the CDBG-DR Projects. She explained <br />that these projects are in response to the Memorial Day Floods and All Saints <br />City of San Marcos Page 2 <br />