The Atlantic City Council is set to hold a regular meeting Wednesday evening, at City Hall. The meeting starts as usual, at 5:30-p.m. On their agenda is a report from the Community Protection Committee, with regard to a proposed Rental Inspection Ordinance. The CPC met last Tuesday, and at that time decided not to recommend the full Council approve the Ordinance, at this time. We’ll hear more on the reasons why from Councilman Chris Jimerson, who also serves as the CPC Chair.

The Council will also hold a Public Hearing on a proposal to enter into a General Obligation Essential Purpose Loan Agreement . City Administrator John Lund says according to the Fiscal Year 2019 Budget and the City’s Capital Improvement Plan, the City is scheduled to assume a $2.68-million dollar General Obligation (G.O.) debt. A G.O. debt is that which is backed 100% by the City’s unlimited authority to levy taxes against property in the City’s jurisdiction. Unless tax revenues fall short of the amounts required to repay the debt, Lund says the G.O. makes default impossible. Essential corporate purchase debt is something the City can assume without a referendum, and is limited to infrastructure, public safety equipment and other essential functions. Iowa Code requires a Public Hearing to proceed with debt issuance.

Following the hearing, the Council will act on passing a Resolution “Taking additional action to enter into a General Obligation Essential Purpose Loan Agreement, and a Resolution setting the date for a public hearing on a proposal to enter into the aforementioned agreement.  Of the $2.68-million in debt being issued, Lund says the City is assuming $304,181 in General Corporate Purpose debt. The bond portion of the CIP would cover Police & Fire vehicles, Police & Fire equipment, a Rural Fire Pumper truck, Airport maintenance projects, street and bridge projects. It would also include Fire station improvements, beautification projects, phase 2 of the Library remodel, and an Animal Shelter incinerator.

The Council will also hold a Public Hearing, Wednesday, on a Proposal to enter into a G.O. Solid Waste Management Loan agreement, and act on a Resolution taking additional action on the proposal. Other Resolutions will cover the following: Accepting easements for the Turn Around project on South Palm Street; A Resolution adopting the preliminary Fiscal year 2019 Budget, and setting the date of a Public Hearing for March 7th and to adopt the FY2019 budget.; They will also act on a Resolution setting March 7th as the date for a Public Hearing on the Proposed adoption of the FY 2019 10-year Capital Improvement Plan (CIP).

The Atlantic City Council meeting will conclude with a closed session for an annual performance review of City Administrator John Lund.