The City and Borough of Juneau Assembly will take a look at reissuing up to $19 million in bonds, which could save the city nearly $1.5 million.
The city Finance Department wants to re fund the city's 2003A and 2003B general obligation bonds, not to exceed $19 million.
The 2003A bonds (voter approved in 1999) paid for portions of Thunder Mountain High School and Juneau-Douglas High School construction projects, which qualify for the State’s School Construction Bond Debt Reimbursement Program.
The 2003B bonds (voter approved in 2002), funded various capital improvement projects in the city.
The city finance department estimates there will be a minimum of a $1.1 million savings over the remaining life of those bonds.
The city also sees a net savings from refunding the bonds for a minimum of about $1.5 million, and part of the requirement to move forward with the ordinance is to see a net savings by refunding 4 percent of the city's bond debt. The department believes that even with costs associated with defeasance (which means that the city has set aside enough cash on hand to service the debt) it will still have that kind of savings. The bonds cannot be sold and refunded until Oct. 1, 2013.
In other business, the Assembly will look at approving $600,000 for the Aurora Harbor project out of the Harbors Enterprise Fund. This would leave about $1.3 million that isn't already designated for Aurora Harbor or other projects.
The Assembly also will consider approval of land lease to ACS Wireless for land at the at the West Juneau reservoir site on Douglas Island for a wireless communications tower.
The proposed lease includes revenue sharing to the city for subleasing.
The Assembly also will again take up commercial passenger vehicle regulation and ordinance changes. It has proposed several changes to fees (some reductions), and language additions regarding limousines and charter services. New regulations also call for a suspension of a commercial driver's license should the holder be charged with "criminally offensive sexual behavior." That license will either be revoked on conviction, or reinstated upon charges being dropped or the driver being found innocent.
In the Assembly’s Committee of the Whole meeting recently, the Juneau Police Department said one concern is that people put children in taxis. Inebriated, situationally vulnerable people also use taxis to have a safe and sober ride home, so the city believes someone with a charge of that type should be suspended from having that responsibility. The Assembly clarified a person can appeal the suspension, but some members were uncomfortable with suspension of a license prior to conviction.
• Contact reporter Sarah Day at 523-2279 or at firstname.lastname@example.org.