Citizen’s Bond Oversight Committee - March 25, 2025

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uh it's now 5:00 and uh I will uh call
the meeting to order and and the first
item of business I'll ask Aaron wals to
do the roll call please
absolutely Committee Member
Coughlin pres Committee Member Deo
present Committee Member fiser present
Committee Member Holland present
Committee Member kamasu present
Committee Member
her let the record show that Committee
Member her is absent
please thank you V Vice chair deoy thank
you all right the uh first item on our
regular agenda this evening will be the
approval of uh or consideration for
approval of the minutes from November 18
I believe that the minutes have been
circulated in advance of the meeting so
the chair will entertain a motion at
this time to approve those minutes
unless there are
questions mman move to approve the
minutes of the August 22nd 2024
meeting I'll second there second right
motion has been moved and seconded and
so at this time uh we'll call on the
committee members to vote for approval
or disapproval of the minutes all in
favor please say I I I I I I opposed
being no opposed the uh minutes are
hereby
approved and the next item on our uh
agenda will be the nomination and
election of a chair and a vice chair for
the uh upcoming year
and for that again I'll ask Aon to run
that
please absolutely thank you Vice chair
deoy I would like to take a few minutes
um to first of all thank Committee
Member excuse me chair mcart who has
served for the last year as our chairman
her term did end um earlier this month
in March so unfortunately due to
rescheduling we she missed her last
meeting um which is why Vice chair deoy
is running our meeting today but we do
want to thank her for all of her service
to the city her participation in three
years on this committee um I would also
like to welcome James Davis who is with
us here today um but not quite yet
participating who is our newly named
citizens Bond oversight Committee Member
and will be up on the dis with you at
your next meeting in May um we do have a
few other new faces sitting over here I
wanted to introduce before the meeting
got started um the city has a new budget
director his name is Scott sein and he
will be doing a presentation here we're
working on getting everybody knew name
tags um and then also um Kimberly
Campbell who has served as our legal
representative for a number of years is
also no longer with us and at the end of
the table there we have Shane Anderson
who will be taking excuse me Shane
Morrison who will be taking over as um
our legal councel for the committee so a
few new faces um I wanted to introduce
them in case questions came up that need
to be thrown in their Direction before
we get to their specific items and with
that I will um we do elect a new chair
and vice chair um every year at our
first meeting and we are a little
delayed this March but um this is our
first meeting of 2025 so with that I
will take nominations for um our
committee
chair yes Committee Member fiser um er
I'd like to nominate Joe de for
chair all right I hear a nomination for
chair Vice chair dece is there a
second all second all right from
Committee Member Coughlin um we'll go
ahead and call the question can we have
a vote
please at all in favor of confirming
chair Vice chair de Boyce as our new
committee chairman please say I I I all
right and it passes congratulations um
now I will say chair Deo and with that I
will turn the meeting back over to you
and we need to do the election for a
vice chair thank you um with that uh
item passed we'll now move to the
election of a vice chair and for that
purpose uh the chair will entertain uh
motions or a nomination at this point
any nomination for the vice
chair uh Mr chairman I'd nominate Brian
coffins for um the that
position the uh nomination of uh Brian
Coughlin has been made is there a
second I second
moved in second at this point uh we'll
call for a vote all in favor of Brian
Coughlin uh becoming the vice chair of
the committee please s signify by saying
I I I I I all right uh the uh the
election is unanimous so Brian
congratulations as our new Vice chair
for for the
year all right the next item uh item
number three on the regular agenda is
the uh present ation discussion and
approval of our committee bylaws and for
that I will uh defer to Shane Morrison
our assistant City attorney you can give
us the presentation for that
please thank you chair Deo I don't have
a formal PowerPoint this evening but we
do have uh the bylaws up on the screen
uh as in years past these bylaws are
verbatim from the previous year's
version so there have not been any
substantive changes other than simply
replacing my signature line for that of
Miss Campbell who's no longer with
us any questions from the committee
members on the uh bylaws as
presented right if not the chair will
entertain a motion to approve the
bylaws I'll motion it thank you is there
a second second Mo uh motions been made
and seconded that we uh accept and
approve the bylaws as presented all in
favor please signify by saying I I I
opposed all right therefore the bylaws
are now approved for our coming year
thank you uh Shane chair Deo I would
like to make a note that I do have a
copy of the bylaws here that we need you
to sign um after the meeting thank
you all right moving to uh item number
four uh entitled presentation discussion
and approval of the citizens Bond
oversight committee 2024 annual report
and for that uh I will call on Aaron
Walsh thank you chair de Bo um this is
another routine item for our first
meeting of the Year this form probably
looks familiar to a lot of you um this
is something that all of our CI excuse
me all of our um boards and commissions
fill out and for to the city council
every year um it does have a record of
who attended what meeting the major
issues that we dealt with and what we're
doing looking forward to next
year if there are any questions I would
be happy to answer
them we we do need to vote to approve
them
yes chair we'll entertain a motion to
approve the uh committee uh uh annual
report is there a motion to approve so
move is there a second I'll second Mo
motion has been made and seconded that
uh the committee accept the presentation
discussion and presentation of the bond
oversight committee annual report
accepted as presented all in favor
signify by saying I I I I I
opposed all right the uh annual report
is thereby accepted and approved number
five on our regular
agenda is an update on the bond
2019 uh program including question one
parks recreation and Senior Services
question number two Community spaces and
infrastructure and question three Public
Safety and technology and for that I
will call on Allison Timco the city
engineer uh good evening thank you so
this is a current overview of the bond
2019
program always do it the wrong way okay
again the bond questions the first
question is Parks Recreation and Senior
Services the second question is
community spaces and infrastructure the
third question is Public Safety and
information
technology and this slide here
represents a summary of the current fy2
2425 projects and just a brief status
the first project is add the splash pad
and improve walkways at mccormic
Stillman Railroad Park um that is
currently being constructed with a
non-bond project which is the mccor
McMan roundhouse project and they are on
target to be um completed this
summer the second project is expand
Granite Reef Senior Center to meet
demand for adult daycare that
construction um funding has been moved
to FY
2627 um the third is expand V the senior
center to meet demand for Senior
Services we are currently initiating
that design contract um you'll note here
uh previous comments from one of the
committee members was that it would be
helpful to highlight the statuses that
have changed from the previous meeting
and so what I did here was the ones that
have changed from the previous meeting
are um indicated in yellow so you see
this one says initiating design contract
so that's a change from the previous
meeting install solar heating systems
for Eldorado pool we are um currently EV
valuing concepts for that project we
have a couple of um solar projects that
are currently under evaluation um the
other two I think are in the second
question and we are planning to bring to
you um at the next meeting in May um
possible scope changes to a couple of
those projects for your consideration
and possible recommendation to city
council and the primary reason for that
and we'll go over it next uh next
meeting but um we just have limited
funding and so we've been trying to
actually design the project to the
funding so um you'll see you'll hear
more about
that um add a dog park to Thompson Peak
Park that construction is plan to start
later this year build multi-use fields
in the area of B Road this is the sport
these are the two sports comp Lex one
was at Bell 94 and this was the second
one which was um the Riata wash um
sports complex and both Sports complexes
are open and we've been using them um
but we just have some minor work that's
remaining on the second park that's not
preventing us from use the park but it's
we just had to do some minor Pump
Station work um which I think actually
might have just occurred in the last
week so we should be closing this
project out soon and then the next
project is build a 17 acre park at Asher
Hills Drive in 74th way um this park
opened in February and we had a ribbon
cutting last month and I have a few
photos of the Finish Park um and then
the final one is purchase land expand
Pinnacle Peak Park parking lot Staff
office restrooms renovate hiking trail
and construct an interpretive Trail um
this project is uh relying on Arizona
state land so we are waiting that for
them to um auction the part of the the
land that we need but in the meantime we
are going to undertake a conceptual
design on this
project here are some pictures of the
newly constructed ashro Hills Park it's
now our northernmost um neighborhood
park in
Scottdale and we have some covered
playgrounds there's a restroom building
there's some walking trails there are
the eight pickle ball courts and there's
a basketball court as well
well and then this is the implementation
schedule for question one and this shows
the current projects that are either in
design or Construction in 2024 25 and
then um the the projects that are
further out that are slated for future
years this is question two the projects
in question two for fiscal year
2425 the first project is is um build
the 20 200 space parking lot off 75th
Street to serve the city court and
Scottsdale Stadium there has been an
update to this project since um these
slides were created we were current we
were planning to construct this project
over the summer with the next um phase
of the uh Stadium project but that
project has been delayed so um we will
likely be doing it next summer at this
time uh build roadway pedestrian
improvements along Second Street this
project is one that's on hold for future
evaluation um repair lakes and
irrigation at Vista Del Camino Park in
the Indian Indian Ben wash the
construction is progressing on this
project we um city council authorized
GMP guaranteed mascum price number three
back in November and we had been waiting
for um army Corp of engineer approval
which which we just received so we will
start construction on that phase coming
up shortly um the next project is
renovate barns to increase renable space
we uh we just recently finished another
barn so seven barns are complete today
and then the next two projects are the
two additional solar projects that I had
mentioned and the final project is build
parking structures in Oldtown Scottsdale
and the design and pre-construction
contract was awarded by city council um
in last month in February for that
project so we will begin design on
that here are some pictures of the
Indian benash Lakes project it's
repairing Irrigation in Lakes throughout
the indon Ben wash at El Dorado and
vistad Del Camino and the next phase
this is just some of the lateral
irrigation work that's underway and the
next phase will be installing um the
irrigation pump
station this is question two imple the
implementation schedule for question to
again it lists the projects that are
currently active in 2425 either in
design or construction and then it shows
um the proposed schedule for the next uh
five
years Allison U before you move on um on
item number 15 on question number two
you said that uh that's on hold or it's
been delayed uh is that the one that
we're building with um the uh the Giant
did they ask for the delay or is it U
why is it delayed uh Vice chair de boy
um that project the stadium project
required some additional funding so we
will be um bringing that forward through
the budget process next fiscal year
thank
you okay these are the projects in
question three for FY 2425 there's two
pages of projects um the first few are
are the it related projects the first
one on the list here was modernized
computer equipment rooms to protect City
servers um they're in the final stages
of that which is actually replacing the
HVAC um replace outdated 911
computerated dispatch and record
managements to improve efficiency so the
RMS was replaced back in November of
2022 and the new update for this is that
the cad the commuter computer AED
dispatch was successfully launched just
earlier this month and they're
continuing to work through postlaunch
punch list items over the next 60 to 90
days so this project will soon be closed
out as well um install fiber op optic
infrastructure to reduce operating costs
this project is multiple locations in
design and construction um update
Scottsdale's 15 yearold digital terrain
model this project was eliminated so um
at the next update I will have this
removed from this slide
uh the next item is replace obsolete
planning and permitting software uh we
are continuing to work with the vendor
to configure the new system begin
validation of initial configuration
elements so we're working um with the
vendor on that project obtain a
city-wide data management and analytics
solution for database decisionmaking um
they're finalizing the architectural
requirements for that system um build a
new fire station near Hayden and loop
one 101 to improve response times this
construction began in May of 2024 and it
is currently scheduled to be completed
this
summer and then we have the replace the
deterior vehicle training track at the
police and fire training facility the
modernize and expand the police and fire
training facility and then build a new
Fire Department Training Facility three
projects the fire training facility
project is complete um the police
training facility construction is
nearing completion and the training
track project um it was determined
during the design and construction of
the training facility at its current
location that there wasn't the
appropriate space for the vehicle
training track at that location so we've
located a new um space up north of the
101 on City owned property that's just
south of the water campus and we are
working through some Arizona state land
purchase to be able to
um redesign the project at that
location um oh
sorry I don't know what I did oh here we
go uh this is some photos of the new
training facility um that's complete the
fire training facility it the
construction was completed in November
and in January we were able to start our
first class of new recruits doing their
training at that
facility just some more pictures of the
site a picture of the TR training
facility from the um the
rear and then a picture from the
inside and then this is the Implement
implement ation schedule for question
three again um showing the current
projects that are currently under design
or construction and then the schedule
going forward in the next couple of
fiscal years for those
projects and then our completed Bond
projects uh we have three projects
complete in question one we have six
projects complete in question
two and then we have several project s
complete in question three and then
again we did have that one project that
we had eliminated which was the digital
terrain
model and with that I can take any
questions any questions yes uh member
commu um
concerning I guess item 12 what was the
rationale for that project to be
eliminated the digital terrain
model um Committee Member kamasu that
project it was determined that they were
able to get the USGS data and it would
it would meet our needs okay
thanks any other questions uh member uh
Fisher Alison not not so much a question
as to just a comment um so the um the
ashler Hills Park is close to my house
and so I've been watching that project
all along and it's kind of interesting
being on the board here and you know
seeing things as are moving along and
coming up and the money being spent this
one just turned out fabulous uh I just
wanted to let you know that and I hope
you can pass that on to the staff
involved um that you know there are kids
playing in the play area there's uh
they're go out there sometime there are
there are seats and tables for people to
relax I was out there Sunday ate pickle
ball courts they were all busy and I
understand uh uh member kamasu may take
up pickle ball he's taking he's gotten a
lesson he's not sold yet um but um
there's you know I'll tell you it's got
some workout equipment on there that I
may use this summer it's really nice uh
that Park is just great as a real Jewel
thank you that's great to
hear uh yes uh member Holland you have a
question can you tell me the location of
the training
facility um the our training facility is
actually located in the City of
Tempe okay I was just curious thank
all right oh another question member uh
uh
cofin I had a question on uh question
one number 13 the um expanding the
Granite Reef Senior Center was that
delayed from was that originally 2526
pushed out to 2627 and if so what was
the reason for that um Committee Member
Coughlin yeah that's correct and
actually uh a large part of that was
just um workload of staff
thank you and for sake of clarity U
fiscal year 2526 will begin in July
that's correct July 1 so when we see the
projects that are 26 27 that's really
another another year away for those
projects that's correct thank
you all right there that I don't believe
that requires any action uh from the
committee so thank you Allison for the
presentation we'll move to item number
six presentation discussion and possible
action
on the bond 2019 financial report and
for that Scott uh if you would make the
presentation please thank you Mr
chairman members of the committee uh by
way of introduction my name is Scott
Seline City budget director um very
happy to be here today to discuss the uh
Financial update for the 2019 Bond
program and just for your information
the figures here are updated through
February 28th
2025 so oh I get the control okay great
um there sorry there we
go so what you're looking at right here
um as you know the approved Bond 2019
program is a $319 million program there
are three questions that include 58
projects out of these 58 I believe 18
have been completed so
far and I scrolled the wheel too fast
I'll just click from now
on uh the slideshow this slide shows a
snapshot of the financial statuses of
the three different questions as of
February 25th 28th 2025 question one has
spent just over $53 million just over $4
million is committed and that leaves
about 15 million in remaining budget
Authority um available for this question
for question number two $45 million has
been spent 6.7 committed and 7.4 million
in remaining budget Authority and then
for question number three Public Safety
and
Technology uh almost 47 million has been
spent just under 13 million is committed
and about 20 million in remaining budget
Authority for question number
three the first Bond issuance closed in
February of 2021 and used $55 million of
voter authorization which has been fully
spent the second closed in February of
2023 and used 77.8 million of voter
author voter authorization
there's a Planned issuance of $107
million later this year in May with
about 79 million in future issuance
planned um in
2627 uh this was emphasized in the last
meeting but I'll emphasize it again that
Scott sale will remain a AAA rated
Community as indicated on the bottom
lefthand corner of the slide Scott I
have a quick question for you on the
issue ones coming up in May um is that
is the the um opinion of the U Bankers
hired to make these callable bonds for
potential refinancing given current
interestate
environment uh Mr chairman Mr Coughlin
I'll defer to Erica hi um thank you for
the question Vice chair Coughlin yes
normally a tax exempt bond has a 10-year
par call so we're planning on a
competitive sale which is what we've
done historically and so yes these will
be callable and um typically we see a
10year par call on tax exempt debt thank
you any other questions
so I believe with that that carries me
to the end I'd be happy to entertain any
further questions if there are any any
other questions at this time seeing none
thank you Scott thank you all right
moving to uh our final item on the
regular agenda item number seven
presentation and possible discussion on
bond issuance three and for that uh call
on Erica kums our finance
manager good evening um members of the
committee appreciate your time this
evening and we're very excited to be
looking forward towards our next Bond
issuance this is a recap of the project
spending thus far um as indicated before
our first Bond sale where we spent
around 55 million projects and then for
our 2023 bond issue we spent around 78
million this upcoming bond issue we're
targeting a project amount of 107
million and then the remaining
authorization would be around 79 million
per
projects this is um targeted amounts for
each question and project and a lot of
this um would relate to uh presentation
you've seen earlier this
evening um I will um as Allison had
suggested there is a change in Project
15 so at this point we are planning to
take this project out of this bond issue
and um increase the funding for project
63 so the proposed financing amount will
remain the
same this is question three um these are
the estimated
amounts next steps so we've been working
on the offering document with our
Municipal adviser Piper Sandler our bond
Council Greenberg TR we um the city
council approved the financing uh at the
last city council meeting on March 18th
um we will be looking to have
discussions with uh SNP and Moody the
first week of April when we have those
ratings which we expect to be AAA to
post the preliminary official statement
uh as we've done in the past we'll have
a competitive sale so the week of the
28th we will pick a day um we'll also be
having an our MPC Bond sale that same
day um and then um and we will receive
bids on that morning at that point
numbers would be
finalized and um we would know the final
par amount um and then we would look
towards closing and have funds available
that week of May 19th with that I'm
happy to answer any
questions any questions yes uh Committee
Member fiser um M
so I think I missed something you said
that one project has been cancelled and
the money's moved to another it's just
been postponed and so with the delay and
the project timing um we have a um a
timetable when this when the funds are
when we have the fund so when we have
the 107 million we have um three years
or less through IRS regulations to spend
those funds um so the idea is that we
would use those funds for another
project uh as requested by another um
director within the city uh so the the
project am the total project amount for
that question won't change but we're
using the funding to increase the amount
for a different project but the that
project will be funded in the so the
project that money is going to is ready
to go and the other one quite okay okay
that makes sense it's a timing yep thank
you and then just um for my uh
clarification that the money that would
be shifted would all stay within that
same question we don't shift it to
another question that's correct and
we're monitoring that closely on a
monthly basis y any other
questions all right thank you
Erica that's our last uh agenda item and
in as much as this is our uh first
meeting of the New Year I'm going to
take a couple minutes to uh read the
public comment verbage so that we'll
have it in the record uh and so that's
on the second page of the agenda under
public comment uh citizens May address
the members of the citizens Bond
oversight committee during public
comment this public comment time is
reserved for citizen comments regarding
non- agendized items Arizona state law
prohibits the citizen Bond oversight
committee from discussing or taking
action on any item that is not on the
prepared
agenda citizens May complete one request
to speak public comment card per meeting
and submit it to the city staff public
testimony is limited to three minutes
per speaker written comment cards are
being accepted for both agendized and
non- agendized items and may be
submitted to the city staff at any time
cards submitted after public testimony
has begun will be provided to the
citizens Bond oversight committee at the
conclusion of the testimony for that
item the citizens Bond oversight
committee cannot discuss or vote on
items not on the agenda including items
brought up as public comments if action
by the committee is needed the items
should be placed on the next meeting's
agenda to be consistent with the Arizona
open meeting law and I don't believe we
received any comment cards for this
meeting all right uh all right then I
believe that completes our business uh
for the evening and the chair will
entertain a motion to adjourn at this
time I be the
first thank you member Holland moves to
adjourn second and uh we have a second
and so therefore all in favor of
adjourning please say I I opposed nay I
see no Nays and so therefore the meeting
will be adjourned and I make it 5:35
p.m. thank you everyone thank you