HomeMy WebLinkAbout2017-10-04 IDA Minutes
MINUTES
REGULAR MEETING
THE INDUSTRIAL DEVELOPMENT AUTHORITY
OF THE CITY OF RIVERSIDE, MISSOURI
Wednesday, October 4, 2017
5:30 p.m.
The Industrial Development Authority of the City of Riverside, Missouri, met in regular session at City Hall,
2950 NW Vivion Road, Riverside, Missouri.
Vice President Frank Biondo called the meeting to order at 5:30 p.m. Answering roll call were Frank Biondo,
Harold Snoderley, Art Homer and Jason Rule. Also present: Donna Oliver, Director of Finance: Rick McConnell
and Megan Miller, Gilmore & Bell; and Sarah Wagner and Rhonda Smith, Community Development.
Approval of Minutes Art Homer moved to approve the minutes from September 20,
from December 12, 2016 2017.
Harold Snoderley seconded and the motion passed 4-0.
RESOLUTION 2017-Rick McConnell from Gilmore & Bell noted that Resolution
004: A Resolution 2017-004 would authorize the City to reissue bonds from 2007
Authorizing the Issuance in a favorable market saving the City money from interest. The
of Industrial reissue would be complete by the first of November if the
Development Refunding market remains favorable. Art Homer noted the saving would
Revenue Bonds be set aside for downtown development.
(Riverside Horizons
Infrastructure Project – Jason Rule noted concerns about the bond reissue and asked for
City of Riverside, clarification on the numbers. Rick McConnell provided him
Missouri) Series 2017, in with a tentative schedule. Donna Oliver noted that the least
Principal Amount Not amount of savings for the City would be 3 percent. If the
Exceeding $19,500,000 percentage was lower, the reissue would not happen.
and Authorizing and
Approving Certain Frank Biondo made a motion to approve Resolution 2017-
Documents and Actions 0004.
in Connection with the
Issue of Said Bonds Harold Snoderly seconded and the motion passed 3-1 with
Jason Rule dissenting.
Adjournment Frank Biondo moved to adjourn the meeting at 6:50 p.m.,
seconded by Harold Snoderley. Motion passed 4-0.