Sponsor: Finance
Title
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2022 Capital Improvement Program Bond Ordinance - Waive the Second Reading
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Recommendation
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Waive the second reading of the proposed 2022 Capital Improvement Program Bond Ordinance.
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Background and Rationale
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The proposed 2022 Capital Improvement Program (CIP) Bond Ordinance authorizes the issuance of General Obligation Capital Improvement Bonds to finance capital projects identified in the county’s proposed 2022 Capital Improvement Plan, or as the plan may be amended in the future by the Ramsey County Board.
The proposed ordinance sets the maximum amount of bond issuance at $39,000,000, which is the amount identified for bond financing in the proposed 2022 Capital Improvement Plan. The total amount of bonds issued under this ordinance may be less and cannot be more than the maximum set in this ordinance. At a future date, the Ramsey County Board will be requested to approve the actual amount of bonds issued and to award the sale of bonds to the lowest bidder.
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Project financing included in the proposed 2022 CIP Bond Ordinance: |
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2022 Regular CIP Projects |
$ 6,000,000 |
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2022 Major CIP Projects |
$33,000,000 |
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2022 CIP Bond Ordinance amount |
$ 39,000,000 |
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Ramsey County issues bonds in accordance with Ordinance No. 93-292, adopted on July 29, 1993, which sets forth the procedure for issuing bonds via ordinance in compliance with the Ramsey County Home Rule Charter. The county’s ordinance procedures require every proposed ordinance receive two readings; first, at the time it is presented, and second, at the time of the public hearing. Both readings may be waived if a copy of the ordinance is supplied to each member of the Ramsey County Board prior to its introduction.
In accordance with these requirements, the second reading of the proposed 2022 Capital Improvement Program Bond ordinance may be waived because a copy of the proposed ordinance was supplied to each member of the Ramsey County Board prior to its introduction October 26, 2021.
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County Goals (Check those advanced by Action)
☐ Well-being ☒ Prosperity ☒ Opportunity ☒ Accountability
Racial Equity Impact
This action by itself does not have a measurable racial equity impact, as the action is just one step in the ordinance process required by the Ramsey County Home Rule Charter to issue bonds. The county plans to issue bonds to finance numerous capital improvement projects, each of which provides programs and services to the community. The racial equity impact should be considered by the county departments during the development of the associated programs and services for each capital project.
Community Participation Level and Impact
Ramsey County issues bonds to finance capital improvements identified in its annual capital improvement plan which is developed with public participation through the Capital Improvement Program Citizens’ Advisory Committee (CIPAC), an advisory committee composed of up to 14 residents, appointed by the Ramsey County Board, to assure public participation in the decision-making process. CIPAC reviews, rates and recommends capital improvement projects. The Ramsey County Board also holds a public hearing as part of the Bond Ordinance process to afford the public an opportunity to comment on each proposed project. Direct community participation should be incorporated through the county departments in the development of the programs and services associated with each capital project.
☒ Inform ☒ Consult ☐ Involve ☐ Collaborate ☐ Empower
Fiscal Impact
The proposed 2022 Capital Improvement Program Bond Ordinance authorizes a maximum amount of bond issuance to finance the capital improvements identified in the proposed 2022 Capital Improvement Program Budget and Financing Plan. The final bonding amount will reflect any amendments made to the 2022-2023 biennial budget.
County Manager Comments
No additional comments.
Last Previous Action
On October 26, 2021, the Ramsey County Board waived the first reading of the proposed 2022 Capital Improvement Program Bond Ordinance (Resolution B2021-236) and set the date of the Public Hearing for November 16, 2021 (Resolution B2021-237).
Attachments
1. Proposed 2022 Capital Improvement Program Bond Ordinance
2. Proposed Schedule of Events - 2022 Capital Improvement Program Bond Sale