Loading...
The URL can be used to link to this page
Your browser does not support the video tag.
Home
My WebLink
About
2003-0506 Council Mtg PACKET
Important : Any citizen attending council meetings may speak on any item on the agenda, unless it is Public Forum the subject of a public hearing which has been closed. The is the time to speak on any If you wish to speak, please fill out the Speaker Request form subject not on the printed agenda. located near the entrance to the Council Chambers. The chair will recognize you and inform you as to the amount of time allotted to you. The time granted will be dependent to some extent on the nature of the item under discussion, the number of people who wish to be heard, and the length of the agenda. AGENDA FOR THE REGULAR MEETING ASHLAND CITY COUNCIL May 6, 2003 - 7:00 p.m. Civic Center Council Chambers, 1175 E. Main Street I. PLEDGE OF ALLEGIANCE: II. ROLL CALL: III. APPROVAL OF MINUTES: Regular Council Meeting Minutes of April 15, 2003, and Minutes of Executive Session of April 15, 2003. IV. SPECIAL PRESENTATIONS & AWARDS: 1. Presentation of Certificate of State Accreditation to Chief Scott Fleuter and Ashland Police Department. 2. Mayor’s Proclamation of May 5 - 12, 2003 as National Historic Preservation Week. 3. Mayor's Proclamation of May 18 - 24 as National Emergency Medical Services Week. 4. Mayor's Proclamation of May 18 - May 24, 2003 as National Public Works Week. 5. Mayor's Proclamation of May 11 - May 17, 2003 as National Nursing Home Week. V.CONSENT AGENDA: 1. Minutes of Boards, Commissions and Committees. VI. PUBLIC HEARINGS: (Testimony limited to 5 minutes per speaker, unless it is the subject of a Land Use Appeal. All hearings must conclude by 9:30 p.m. or be continued to a subsequent meeting.) 1. Public Hearing for any concerns with the intent to form a Local Improvement District for Construction Improvements to Tolman Creek Road. VII. PUBLIC FORUM: Business from the audience not included on the agenda. (Total time allowed for Public Forum is 15 minutes. Speakers are limited to 5 minutes or less, COUNCIL MEETINGS ARE BROADCAST LIVE ON CHANNEL 9 VISIT THE CITY OF ASHLAND'S WEB SITE AT WWW.ASHLAND.OR.US depending on the number of individuals wishing to speak.) VIII. UNFINISHED BUSINESS: (None) IX. NEW AND MISCELLANEOUS BUSINESS: 1. Presentation on Housing Trust Fund Project. 2. Quarterly Financial Report. 3. Affiliated Marketing Agreement with Bonneville Environmental Foundation. 4. Ashland Fiber Network Quarterly Report. X. ORDINANCES, RESOLUTIONS AND CONTRACTS: 1. Reading by title only of "A Resolution Revising Rates for Electric Service Pursuant to Ashland Municipal Code Section 14.16.030 and repealing Resolution 2002-09." 2. Reading by title only of "A Resolution Revising Rates for Water Service pursuant to Ashland Municipal Code Section 14.04.030 and Repealing Resolution 2002-08." 3. Reading by title only of "A Resolution of City of Ashland, Jackson County, Oregon, Authorizing the Issuance of Water Revenue Bonds and a Master Water Revenue Bond Declaration." 4. Reading by title only of "A Resolution Authorizing and Ordering the Local Improvements for Construction Improvements to Tolman Creek Road Consisting of Sidewalks, Parkrows, Parking Bays, Bicycle Lanes, Pedestrian Safety Improvements to Intersections, Traffic Diverter Islands, Drainage and Associated Improvements and Authorizing the City to Borrow Money and Issue and Sell Notes for the Purpose of Providing Interim Financing for the Actual Cost of the Local Improvement." XI. OTHER BUSINESS FROM COUNCIL MEMBERS/REPORTS FROM COUNCIL LIAISONS XII. ADJOURNMENT: REMINDER th A study session will be held on Wednesday, May 7 at 12:00 p.m. in Council Chambers. Topics will include: 1) Discussion regarding Big Box Ordinance Changes. In compliance with the Americans with Disabilities Act, if you need special assistance to participate in this meeting, please contact the City Administrator's office at (541) 488-6002 (TTY phone number 1-800-735-2900). Notification 72 hours prior to the meeting will enable the City to make reasonable arrangements to ensure accessibility to the meeting (28 CFR 35.102- COUNCIL MEETINGS ARE BROADCAST LIVE ON CHANNEL 9 35.104 ADA Title I). VISIT THE CITY OF ASHLAND'S WEB SITE AT WWW.ASHLAND.OR.US MINUTES FOR THE REGULAR MEETING ASHLAND CITY COUNCIL April 15, 2003 Civic Center Council Chambers, 1175 E. Main Street CALL TO ORDER Mayor DeBoer called the meeting to order at 7:00 p.m. in the Civic Center Council Chambers. ROLL CALL Councilors Laws, Amarotico, Jackson and Hearn were present. Councilors Hartzell and Morrison were absent. APPROVAL OF MINUTES The minutes of the Regular Council Meeting of April 1, 2003 were approved as presented. SPECIAL PRESENTATIONS & AWARDS Mayor DeBoer presented Sue Graham with the James M. Ragland Memorial "Volunteer Spirit" Community Service Award. Oregon Department of Forestry, retired Service Forester Chuck Miller presented the City with the Tree City USA Award for 2003. Tree Commissioner Bryan Holley explained the requirements for obtaining this award. Tree Commissioner Rich Whitall gave a brief update on the activities of the Tree Commission. Holley noted current projects that the Tree Commission is working on with the City. Councilor Jackson, liaison for the Tree Commission, commented on the volunteer Southern Oregon University students that helped on projects. Energy Analyst Robbin Pearce was acknowledged as staff liaison. Eric Navickas/711 Faith Street /Spoke regarding his concern of commercial logging in the Ashland Watershed and how it affects the City's water supply. Proclamations for Back to School Week, Volunteer Recognition Week and Respite Care Awareness Week were read aloud. CONSENT AGENDA 1. Minutes of Boards, Commissions and Committees. 2. Liquor License Application from Karen Stacy dba Jazbo's Lounge at 131 A Street (located in Off the Grid Waffles). 3. Confirmation of Mayor's appointments/re-appointments to various boards, commissions and committees. Councilors Hearn/Jackson m/s to approve the Consent Agenda. Voice Vote: all AYES. Motion passed. Mayor DeBoer acknowledged the various volunteers to all of the City Commissions and Committees. He encouraged interested citizens to apply for current openings. PUBLIC HEARINGS (None) PUBLIC FORUM Leslie Adams/1005 C Street /Spoke regarding civil rights and freedom of expression, which she felt includes flag burning. She commented on a recent flag burning incident and the arrest of two involved individuals. Dot Fisher-Smith/945 Oak Street /Felt that the flag burning is a symbolic act for First Amendment rights. Voiced her concern regarding the recent arrest of two individuals for burning the flag. Bill Street/180 Mead Street /Expressed concern regarding house size limitations in the Ashland Historic District and a building proposal in this area. Mayor DeBoer and City Attorney explained to Mr. Street that the Council would sit in a quasi-judicial manner if the issue is brought before the Council as an appeal. Voiced his concern that Ashland City Council MeetingPage 1 of 3 April 15, 2003 this area be kept as a "Historic District" and commented that previously the Council had voiced their desire to keep housing sizes to a minimum. He continued to voice several issues that he feels violate City ordinances. He requested that the Council discuss stopping the building of a house this size. Councilors Laws/Jackson m/s to place question of 1st Amendment Rights on the agenda. Voice Vote: all AYES. Motion passed. UNFINISHED BUSINESS 1. Adoption of the 2003-2004 Strategic Plan Goals. City Administrator Gino Grimaldi presented a revised draft of the 2003-04 Strategic Goals for Council approval. Included was a time-line, department responsibility overview, and planned activities. Councilors Amarotico/Laws m/s to approve the 2003-04 Strategic Plan Goals, as amended. Voice Vote: all AYES. Motion passed. NEW AND MISCELLANEOUS BUSINESS 1. Consultation with legal counsel concerning current litigation pursuant to ORS 192.660(1)(h). Councilors Jackson/Hearn m/s to approve settlement agreement as discussed in Executive Session. Voice Vote: all AYES. Motion passed. 2. Discussion regarding freedom of expression. Jackson commented on her appreciation of the group keeping the City apprised of their activities. She explained that the Council had approved a Resolution in regards to civil liberties. She stated that the legal ramifications for the two individuals recently arrested is out of Council’s control. Laws commented on the Council's position on freedom of speech. He commented on their support of the Patriot Act Resolution, which should guide our Police Department. He explained that the individuals were not arrested for burning the flag, but based on other factors. He understands that it is the judicial system that sets the rules and because these individuals refused to comply by giving names and fingerprints there were harsher consequences. Ryan Navickas/711 Faith Street /Spoke regarding his experience when arrested for protesting and how the City had stepped in to request that the charges be dropped. He requested that the Council make a statement supporting the First Amendment and consider acting in the same manner for the two individuals recently arrested. Leslie Adams/1005 C Street /Voiced her dissatisfaction with the Council and their "hands off" attitude. She commented on how the Council should stand behind First Amendment Rights. DeBoer commented that he will uphold civil liberties whenever he sees them being violated. ORDINANCES, RESOLUTIONS AND CONTRACTS 1. Second reading by title only of "An Ordinance Modifying Chapter 18.108 and 18.106 of the Ashland Municipal Code, Land Use Ordinance, Regarding Approval Standards for Zone Changes and Annexations." Councilor Laws/Jackson m/s to approve Ordinance #2895. Roll Call Vote: Laws, Amarotico, Jackson and Hearn, YES. Motion passed. 2. Reading by title only of "A Resolution in Support of HB 2595 to Repeal the Ban on Real Estate Transfer Taxes." Jennifer Henderson/321 Clay #8 /Voiced appreciation for Council support of this Resolution. DeBoer commented that he had heard that there is another version of this House Bill (HB) that includes schools. Henderson clarified that there is a work study session scheduled on the new HB and that this would repeal the ban and fund schools. This HB is still in the committee and has not been in session. Ashland City Council MeetingPage 2 of 3 April 15, 2003 Council discussed amending the resolution as follows: Section 1 strike "by adopting HB 2595", include "schools" in item D after parks, and change title to "A Resolution in Support of Repealing the Ban on Real Estate Transfer Taxes." Councilors Amarotico/Hearn m/s to approve Resolution #2003-11 as amended. Roll Call Vote: Hearn, Jackson, Amarotico and Laws, YES. Motion passed. OTHER BUSINESS FROM COUNCIL MEMBERS DeBoer commented that he will refrain from speaking in regards to building concerns involving his brother Sid DeBoer. Laws commented that the Council should proceed in a reasonable and practical manner in regards to the issue of limiting the size of houses. A joint study session with the Planning Commission and City Council will be held on Tuesday April, 22 at 7 p.m. to discuss “Regional Problem Solving.” The session will be televised live on channel 9 in place of the regularly scheduled “Town Hall.” Reminder that the first meeting of the Budget Committee will take place at 7:00 p.m. on April 24, 2003 in the Civic Center Council Chambers. ADJOURNMENT Meeting was adjourned at 8:20 p.m. ___________________________________________________________________________ Barbara Christensen, City RecorderAlan DeBoer, Mayor Ashland City Council MeetingPage 3 of 3 April 15, 2003 PROCLAMATION ¨ The historic houses and buildings of Ashland help make our City unique and provide links with aspirations and attainment of the City's pioneers and their descendants. thth ¨ These fine examples of 19 and early 20 century buildings contribute to an appreciation of our heritage. ¨ Preservation of these ties with our history helps avoid a sameness that in some communities makes for a feeling of rootlessness and lack of sense of place. ¨ National Historic Preservation Week provides an opportunity to recognize the value of Ashland's historic resources and encourages their preservation for future generations. NOW, THEREFORE, the City Council and Mayor, on behalf of the citizens of Ashland, hereby proclaim the week of May 5 - 12, 2003 as "NATIONAL HISTORIC PRESERVATION WEEK" and call upon the people of Ashland to recognize and participate in this observance. th Dated this 6 day of May, 2003 ____________________________ Alan W. DeBoer, Mayor Barbara Christensen, City Recorder PROCLAMATION ¨ Emergency medical services are a vital public service. ¨ The members of emergency medical services are ready to provide lifesaving care to those who experience sudden illness or injury. ¨ Access to quality emergency care dramatically improves the survival and recovery rate of those who experience sudden illness or injury. ¨ Emergency medical services consist of emergency physicians & nurses, emergency medical technicians, paramedics, firefighters, educators, administrators, and others. ¨ The members of emergency medical services teams, whether career or volunteer, engage in thousands of hours of specialized training and continuing education to enhance their lifesaving skills. ¨ It is appropriate to recognize the value and the accomplishments of emergency medical services providers by designating Emergency Medical Services Week. ¨ The members of Ashland Fire & Rescue are joined by other concerned citizens of Ashland, as well as businesses, schools, service clubs, and organizations in their emergency medical services efforts. NOW, THEREFORE, the City Council and Mayor, on behalf of the citizens of Ashland, hereby proclaim the week of May 18 - 24, 2003 as NATIONAL EMERGENCY MEDICAL SERVICES WEEK and call upon the people of Ashland to celebrate the accomplishments of EMS providers, and to remember, as the 2003 National Emergency Medical Services Week theme suggests: " EMS: WHEN IT MATTERS MOST" th Dated this 6 day of May, 2003 ____________________________________ Alan DeBoer, Mayor ____________________________________ Barbara Christensen, City Recorder PROCLAMATION ¨ In 1960 President John F. Kennedy proclaimed that one week each year would be set aside to recognize the accomplishments of Public Works professionals. ¨ This year marks the 109th anniversary of the Public Works profession. ¨ Public Works Services provided in our community are an integral part of our citizens' everyday lives. ¨ The support of an understanding and informed citizenry is vital to the efficient operation of Public Works systems and programs such as water, sewers, streets, storm drains, equipment, the municipal airport, and snow removal. ¨ The efficiency of the qualified and dedicated personnel who staff public works departments is materially influenced by the people’s attitude and understanding of the work they perform. ¨ The health, safety, and comfort of this community greatly depends on these facilities and services. NOW, THEREFORE, the City Council and Mayor, on behalf of the citizens of Ashland, hereby proclaim the week of May 18 to May 24, 2003, as: NATIONAL PUBLIC WORKS WEEK in Ashland, and call upon all citizens and civic organizations to acquaint themselves with the issues involved in providing our Public Works and the contributions which Public Works officials make every day to our health, safety, and comfort. th Dated this 6 day of May, 2003. _____________________________ Alan DeBoer, Mayor _____________________________ Barbara Christensen, City Recorder PROCLAMATION ¨ The number of elderly and disabled Americans is dramatically increasing. ¨ All citizens are impacted by the past and present contributions of America's elderly and disabled people. ¨ We salute our community's citizens now residing in nursing facilities, many of whom planted the seeds that made our community grow and prosper. ¨ Nursing facilities provide caring and supportive services that make quality of life possible for our loves ones. ¨ A host of activities will begin on May 11 in observance of National Nursing "Reflections of a Lifetime." Home Week, guided by this year's theme NOW, THEREFORE, the City Council and Mayor, on behalf of the citizens of thth Ashland, hereby proclaim May 11 through 17, 2003, as NATIONAL NURSING HOME WEEK in Ashland and encourage all citizens throughout Oregon to join in this observance. th Dated this 6 day of May, 2003. Alan DeBoer, Mayor Barbara Christensen, City Recorder ûéôðûîø ôíçéóîõ ùíïïóééóíî ïóîçè÷é ïûêùô The meeting started with the public forum until a quorum was present. ìçúðóù öíêçï AARON BENJAMIN mentioned that at last night's Council meeting, the Council reviewed the proposed annexation and zoning ordinance changes that will hopefully encourage affordable housing. He is happy the Council is paying attention to this again. He appreciated the great detail with which John McLaughlin and Bill Molnar took, making sure everyone understood the changes. Molnar said the Council will hear the first reading at their next meeting and it will be their prerogative whether or not to allow additional testimony. If it passes then there is just a waiting period before the changes would go into affect. Molnar said he would not be too surprised if there was some opposition from the development community. AARON BENJAMIN had concerns about the latest project on North Mountain Avenue and wondered why there was a lack of any affordable housing. Molnar said there have been three large projects brought before the Planning Commission in the last several months with no affordable housing included. There is nothing in our ordinances that can force affordable housing. Medinger thought Staff and the Planning Commission ought to get "meaner". Staff is not talking about multi-family development. Multi-family development is dense. That is what we want in order to avoid sprawl. He would like to see the Planning Commission looking at more of a mix of units. And, why isn't the Housing Commission looking at these developments in a similar fashion as the Historic Commission looks at development in the Historic District? Molnar said the Planning Commission has to make decisions based on approval criteria. In fact, this is probably the first thing the Housing Coordinator will look at - multi-family housing. Kim Miller and Kim Blackwolf arrived. ùûðð èí íêø÷ê Commissioners present were Chris Oswald, Richard Seidman, Joan Legg, Jonathan Uto, Larry Medinger, Kim Miller and Kim Blackwolf. Chair Andy Dungan arrived later in the meeting. Cate Hartzell was absent. Staff present were Bill Molnar and Sue Yates. - Legg nominated Kim Blackwolf for Vice Chair, the nomination was seconded and everyone approved. ÷ð÷ùèóíî íö æóù÷ ùôûóê - The Minutes of the February 26, 2003 meeting were approved. ûììêíæûð íö ïóîçè÷é - Add two items: 1) Status of Housing Coordinator position and 2) Appointment of a new Housing Commissioner ûõ÷îøû ùôûîõ÷é to replace Seidman. íê÷õíî ûùèóíî ïóéù óè÷ïé RICH ROHDE AND JENNIFER HENDERSON Request - Letter of Support for grant application Rohde handed out a project narrative giving an overview of the grant application that Oregon Action is working on along with Oregon Community Foundation. He also handed out a sample letter from Habitat for Humanity giving support for the proposal. Legg moved to write a letter of support. Medinger seconded the motion. Rohde handed out a booklet, "Raise the Roof " to be released on March 26th. He explained that the purpose of the grant would be to lay out all parts of the housing problem and begin bringing people together. Seidman expressed his appreciation for the efforts of Oregon Action. He wondered how the various groups of people would be brought together. . Legg called for the question. The Commissioners unanimously favored supporting Oregon Action with a letter. Legg said she would write the letter if Rohde would give her the information. The letter is to be signed by Chair Andy Dungan. Real Estate Transfer Tax Henderson handed out an explanation of HB 2595 and a sample resolution. Henderson said they are asking the legislature to look at repealing the state law allowing governments to collect a fee based on the transfer of real estate. Medinger said he would support it, but everyone has an eye on the revenue from it. Henderson said the whole idea is to make it available to communities. Oswald moved to endorse the resolution as written. Legg seconded the motion. The vote was unanimous in favor. Legg moved to forward the resolution to the City Council for their added endorsement. Medinger seconded the motion and the motion was unanimously approved. Seidman wondered what else they could do. Henderson said they really need to communicate with realtors as they are their biggest opponents. She has "talking points" if anyone knows any realtors they can speak with. - Blackwolf welcomed Miller to the Housing Commission. óîèêíøçùèóíî íö ñóï ïóðð÷ê ôíçéóîõ ùííêøóîûèíê çÌØÛÈ× Molnar said the closing deadline for the position is March 31st. He is assuming there will be some type of overview group. Blackwolf thought she and Hartzell would have the opportunity for input. Molnar expects the Housing Coordinator to be hired by late May and begin work in June. çìùíïóîõ ôíçéóîõ ùíïïóééóíî÷ê ûììíóîèï÷îèé Seidman said his term is up at the end of April. Is there anyone we can champion to fill his position? Is there a niche that needs filling? Staff will check to see if anyone has applied. Seidman mentioned Anita with the League of Women Voters as a possible person to recommend to the Mayor. Legg said she had a couple of suggestions and Blackwolf said she knows some young professionals. Seidman said we need Commissioners who have time to work on Commission business. Blackwolf suggested the Commissioners contact people and see what they get. éçúùíïïóèè÷÷ ê÷ìíêèé ûîø ûééóõîï÷îèé Seidman turned the Education and Outreach duties over to Oswald. Oswald handed out her most recent e-mail, outlining the committee report. She reviewed the items with regard to a possible spring forum and a possible series of forums. If the Commission decides to have the first forum this spring, there is a lot to do. Molnar will find out how much money is in the Housing Commission budget. Medinger thought this was a short time frame to get a forum pulled together. Molnar mentioned that Ashland Community Land Trust (ACLT) is having their annual meeting in May. Henderson said she is on the Board and they are meeting tomorrow. Medinger thought we could pick up volunteers at their May meeting and hold a forum in the fall. The tentative date for the ACLT meeting is May 15th. Oswald will also attend tomorrow night's meeting. Seidman felt that committees should be identified and define specific tasks that volunteers can sign up for. How do we want to identify what these tasks are? It was decided to add an agenda item and allow 30 minutes for discussion. ôíçéóîõ ùíïïóééóíî ï÷÷èóîõ èóï÷ ûîø ìðûù÷ Molnar said he discussed changing the meeting time with John McLaughlin. McLaughlin said that he would have concerns about changing the meeting time due to budgetary concerns. Do we want to continue meeting in this room? Uto has a difficult time getting downtown and would prefer the Council Chambers. The Commission decided to continue using this room for the next couple of months. Medinger left the meeting. ùóèóâ÷îé éçêæ÷ã øÊÛÖÈ ëÇ×ÉÈÓÍÎÉ Seidman will e-mail his proposed questions to Blackwolf and Blackwolf will handle this. 2 ûéôðûîø ôíçéóîõ ùíïïóééóíî ïóîçè÷é ïûêùô íèô÷ê Legg wondered if Molnar had a report on the Rental Assistance or the First Time Homebuyers programs. Molnar said the contracts have been signed with ACCESS to administer the programs until June of 2004. Blackwolf left the meeting. Education and Outreach Subcommittee set a meeting for 8:00 a.m. on April 1st at Leo's. - The meeting was adjourned at 6:00 p.m. ûøòíçêîï÷îè 3 ûéôðûîø ôíçéóîõ ùíïïóééóíî ïóîçè÷é ïûêùô ASHLAND HISTORIC COMMISSION Minutes April 2, 2003 CALL TO ORDER At 7:05 p.m., Chairperson Dale Shostrom called the meeting to order in the Siskiyou Room, located in the Community Development/Engineering Services Building at 51 Winburn Way. In addition to Shostrom, members present were Joan Steele, Tom Giordano, Terry Skibby, Jay Leighton, Rob Saladoff, Gary Foll, Keith Chambers and Joanne Krippaehne. Also present were Associate Planner Maria Harris, Council Liaison John Morrison and Secretary Sonja Akerman. There were no members absent. APPROVAL OF MINUTES Leighton moved and Chambers seconded to approve the March 5, 2003 minutes as submitted. The motion passed with a unanimous vote. PUBLIC HEARING Planning Action 2003-035 Conditional Use Permit and Site Review 665 East Main Street E. Kirk McAllister Harris reported this application is for a two-unit motel. The applicant is proposing that one unit be located in the existing house and the other unit in the new building he is proposing to construct to replace the detached structure at the rear of the property. Because the property is zoned Commercial, Harris explained the owner is not required to live on site. The owner is proposing to demolish the existing small building and replace it with a new 485 square foot structure that will not have any openings on the alley side, will use 1 x 6 inch ship lap siding and will use 4 inch trim on the doors and windows. Landscaping will only be necessary in the area that is disturbed by the demolition and construction. Although not specifically stated in the application, Harris stated she does not think there will be any exterior alterations on the existing house. Staff felt the application met the requirements and administratively approved it. Harris also mentioned e-mail was received from Tom Phillips, a neighbor across the alley, who is concerned that by requiring the paving of the alley, traffic use and speeds will increase, thereby putting more people at risk who walk not and play in the area. He asked that the Commission recommend the alley be paved. Skibby stated this is a unique alley and he agrees with Phillips. Giordano said only having windows on three sides and the setback of the new structure on the east side bother him. The plans that were submitted look as though the setback on the east property line will only be one foot. Because of building code issues, no openings would be allowed on this side, so there may be windows on only two sides. His concern is that if the plans change in the Building Permit process after review by the Historic Commission, the Commission would not be notified. Shostrom said he has a concern about the alley (north) elevation. The new building is essentially turning its back on the alley and that is not in keeping with the historic integrity of the alleyscape. On the other hand, he was at the site and was able to go into the building that is proposed for demolition. He feels it should be used for the second unit. It already has a stoop, and the walls and siding are straight. It could also be raised to add a foundation. He said in Ashland Historic Commission Minutes April 2, 2003 his opinion, it would be a shame to lose the building. Leighton agreed the existing building is quite wonderful and noted the alleyscape would be lost if the structure is demolished. Giordano noted it looks as though the building needs to be removed because of the parking requirements. However, Shostrom said he stepped off the area and he feels parking spaces could be rearranged in order to meet the requirements. Chambers said he and Krippaehne had also looked at the building and feel there is a potential to renovate it. Shostrom said there is an opportunity here to improve the alley by using the existing building. Leighton said the building has an intrinsic value to the Commission. Skibby said that even though the property is zoned Commercial, it is still necessary for the property to keep an historic look. He does not want to see a new building have a negative impact on the Railroad District. When asked, Harris clarified this application had been administratively approved by the Planning staff and one of the conditions of approval is that the design of the new building needs to meet all the recommendations of the Historic Commission. She said if the Commission does not feel the application should be approved as it was submitted, the members would have to go through the list of criteria in the Design Standards to see what the application does not meet. Saladoff stated the main suggestion the Commission has would be for the applicant to work with the existing building rather than demolish it. Chambers also said he would also like to go on record regarding the non-paving of the alley. He stated the Commission has a long history against alley paving in the Historic District. In the past, concessions were made from the Planning Commission and the City Council and a “go slow” policy about paving was used. The Commission does not feel that paving improves alleys. Leighton added paving would change the alley because it would essentially create a new street. Steele agreed and said the e-mail from Phillips made valid points. Harris said the Planning Commission rarely requires residential alleys to be paved, but this is commercial. Because of safety, fire trucks, dust and air quality, the City Council’s policy is to require paving. Because the alley separates residential from commercial zoning, Skibby said this should be an exception and paving should be delayed. Leighton asked for clarification of the houses on East Main Street reverting back to residences. Harris replied that when a residential use is discontinued in a commercial zone, it would be a non-conforming use to revert back to residential. In other words, it would not be allowed. Chambers commented that he would like to get this issue on the table and perhaps there should be a modification in the code. It has been a long-standing policy of the Historic Commission to recommend against paving the alleys in the Historic Districts. It would also be nice if houses in the Historic District could revert back to residential use in certain areas. Shostrom stated the applicant should meet the standards of remodeling and restoring under the Site Design and Use Standards. Standard IV-B-6 reads as follows: Try to rehabilitate and restore as many features as possible. Standard IV-B-10 states Any detached structures shall be compatible with the existing building and conform to the above standards. He suggested recommending denial of this proposal because the applicant is not trying to rehabilitate the existing building. Giordano added the existing structure is much more compatible with the neighborhood than the proposed structure. The existing home has a hipped roof; the proposed building has a simple gable roof. The only element he sees in making the building compatible is the siding. Shostrom said he would have liked to discuss these issues with the applicant, however, there was no one in the audience to speak for the proposal or to hear the concerns of the Commission. Steele agreed and commented that often, the applicants try options not even considered before. Chambers moved to recommend denial of this Planning Action for the following reasons: ¨ Contra Rehabilitation & Remodel Standard (IV-B-6), there is no evidence that serious effort has been made to refurbish and restore the existing accessory structure, which has significant historic merit; ¨ Per Standard IV-B-10, the proposed accessory structure is less compatible with the existing main house than the existing historic outbuilding; Ashland Historic Commission Minutes April 2, 2003 ¨ Due to Building Codes, the east side setback of the accessory structure appears to require no windows, thus re- design would be needed and the Commission has not seen that design; ¨ Per long-standing understanding between the Historic Commission, Planning Commission and the City Council, paving of historic alleyscapes has not usually been undertaken. We recommend that paving of this alley not take place and that this part of Planning Staff’s conditions of approval be removed should the proposal be approved; and ¨ In light of all the above points, we believe that further public consideration of this Planning Action is warranted and we request that the Hearings Board call this action up for a public hearing. Leighton seconded the motion and it passed with a unanimous vote. The Historic Commission was in agreement the best scenario would be for the applicant to talk with its members regarding concerns as stated above. OLD BUSINESS – Review Board Following is the April schedule for the Review Board, which meets every Thursday from 3:00 to at least 3:30 p.m. in the Planning Department: rd April 3Skibby and Krippaehne th April 10Skibby, Steele and Foll th April 17Skibby, Saladoff and Krippaehne th April 24Skibby, Steele and Shostrom st May 1Skibby, Leighton and Giordano Project Assignments for Planning Actions PA #2000-120485 “A” Street (Steve Hoxmeier)Shostrom PA #2001-029455 Siskiyou Boulevard (Fire Station)Skibby PA #2002-010103 S. Laurel Street (Laura Shrewsbury)Leighton PA #2002-02125 Granite Street (Carol Dutra)Foll PA #2002-064542 “A” Street (David Gremmels & Cary Bryant)Krippaehne PA #2002-080286 Eighth Street (John & Mary Ellen Cole)Foll PA #2002-075SE Corner of “A” & Pioneer Streets (Alan Sandler)Saladoff PA #2002-094340 Oak Street (“A” Street Marketplace)Saladoff PA #2002-100142 East Main Street (Earthly Goods)Leighton PA #2002-12544 North Second Street (Trinity Episcopal Church)Skibby PA #2002-127NW Corner North Main & Maple Streets Intersection (ACHF)Krippaehne PA #2002-142120 Gresham Street (Chanticleer)Krippaehne PA #2003-00535 S. Second Street (Winchester Inn)Krippaehne PA #2003-035665 East Main Street (Kirk McAllister)Shostrom National Historic Preservation Week (May 5-12) – Krippaehne said she will be working with Saladoff and Skibby on the display boards. The Commission noted the events for the week have been set and the awards will be given at noon on Friday, May 9 in the historic gazebo by the bandshell in Lithia Park. Educational Articles – Steele volunteered to write at least one article that can be used in the City Source. However, she said she would like more information about what will be required. Marketing Director Ann Seltzer will be invited to come to the May 7 meeting to discuss what she needs for the articles. Chambers suggested a small column on interesting facts, perhaps headed by Did you know that....? Ashland Historic Commission Minutes April 2, 2003 Carnegie Library Restoration – This will be discussed at the May 7, 2003 meeting. NEW BUSINESS Trinity Episcopal Church Addition – Architect Gary Afseth informed the Commission he has a pre-application conference scheduled next week that involves an addition proposed for the historic Trinity Church. He gave the background history of the original church and subsequent additions. The church is now looking at an expansion for the seating capacity due to the growth in membership. Currently, the capacity is 120 seats (excluding the choir). The addition, which is a transept design, will accommodate 56 seats (28 seats on either side of the chancel). It will have minimal impact to the structural base, as they have been respectful of the existing historic church. The roofline ridge of the addition will also be subordinate to the church. 1 x 6-inch redwood siding will be used to match the church and it will painted the same color white. Wood windows will be used and if the budget will allow, stained glass would be desirable. Afseth stated he would like Commission input on how they should treat the eaves and gable ends. The existing gable ends have returns. Should the addition have returns or not? Afseth has contacted the State Historic Preservation Office (SHPO) and its concern is more with the floor plan than the details. Afseth then presented a work study model of the church and showed how the addition would look with a hipped roof (similar to one of the additions on the opposite site of the church) and also how it would look with a gable roof (which would match the original church and another existing addition). The Commission agreed the gable roof would look better than the hipped. The members also agreed they would like to see returns and the copying of some of the details. The members commended Asfeth on his model, commenting on the usefulness of a 3-D model and how much they appreciated it. ADJOURNMENT It was the unanimous decision of the Commission to adjourn the meeting at 9:00 p.m. Ashland Historic Commission Minutes April 2, 2003 Ashland Traffic Safety Commission Minutes February 27, 2003 Members Present: William Snell, Doris Mannion, Patti Busse, George Fardlemann, Keith Massie, David Dotterrer, Pam Hammond, Corey VanLandingham Staff Present: Jim Olson, Dawn Lamb, Officer Steve McClennan Members Absent: Robert Joseph, John Morrison I.CALL TO ORDER rd II.APPROVAL OF MINUTES: January 23, Minutes approved as written. III.ITEMS FOR DISCUSSION: A.PUBLIC FORUM ITEMS: 1.Introduction of New Commissioner Pam Hammond. B.REVIEW OF TRAFFIC REQUESTS / PROJECTS PENDING/ACTION REQUIRED 1.Request for a 4-Way Stop at Morton and Iowa Streets Caroline Shaffer, 288 Morton Street requests two additional stop signs on Iowa Street at Morton Street making it a 4-way stop. Ms. Shaffer has noted intersection traffic has increased since the work on Siskiyou Blvd. began. Iowa Street Iowa at the Morton Street intersection is only 27 feet wide requiring parking prohibitions on the north side. Iowa is a straight east-west street with an approximate approach grade of 4.0% stopped only at Siskiyou Blvd. (signal), Liberty Street and at Gresham Street. Iowa carries a traffic flow of 1181 VPD with two travel lanes and one parking lane. Morton Street Morton Street runs north and south and extends from E. Main Street to Ashland Street stopping at Siskiyou Blvd. and again at Iowa Street. The street is 28 feet wide with two travel lanes and two parking lanes and sidewalks on both sides with a six foot parkrow. The latest traffic counts are 1034 VPD in the block between Siskiyou and Iowa. Intersection The intersection is a four leg intersection configured at 90 degrees. The approach grades are moderate and visibility is good. The Siskiyou Blvd. project makes several changes in this area making a significant impact on traffic flows through this intersection. 1.Through access onto Siskiyou Blvd. from the following streets will be eliminated: a.Union Streetb.Harrison c.Liberty Streetd.Iowa Street Access will be restricted by continuing the center median through the intersection. On Iowa Street, the sidewalk on the south side of Siskiyou will be extended across the street opening physically closing approximately 100 feet west of Beach Street. 2.A traffic signal installed at Sherman Street will make it the main connection onto Siskiyou for this area. 3.The intersection of Siskiyou and Beach will be re-aligned and resignalized aligning traffic with Morse Avenue. These changes will all impact the intersection traffic flow, but it is impossible to predict how much. Warrants are not met for a 4-way stop. Staff recommends the following actions be taken: Paint the curb to indicate standard (25 foot) parking prohibition areas on the remaining three corners (N.E., S.E. and S.W); Re-evaluate this intersection upon completion of Siskiyou Blvd. to determine the final impact on traffic. Discussion: Olson prefers waiting until after effects of Siskiyou can be analyzed. The warrants are not met for a stop, but adding the three additional parking prohibitions will free up visibility. Massie suggested waiting until after Siskiyou is done and taking in the entire neighborhood corridor from Gresham to Beach. The flow of traffic will be altered to Sherman to enter and exit Siskiyou at a signal. Beach will be closed to though traffic. Busse did a site visit and thought the recommendation is sound. Dennis Mead-Shikaly, 811 Iowa, lives at corner of Morton and Liberty with his wife and two young sons, 7 and 9. Their sons have friends across the street and are concerned for the speeding on this street. His children cross this street daily and with the change they are already witnessing they feel concern for their safety. They installed the KKAD signs only to have them stolen. He would like commission to reconsider the recommendation and consider the installation of stop signs. It is preventive medicine. Parker Hess, 310 Morton Street, resides at corner of Morton and Holly. Hess was not in favor or against the installation of the stop sign, he would be ok with the parking restrictions being extended to the three remaining corners. Supported changes on Siskiyou, whatever it takes to provide safety. David Chapman, 318 Wrights Creek Drive, spent one hour at this intersection and he stepped off the curb 31 times and only 9 cars stopped for him. He suggests doing a pedestrian enforcement at this area. Mignon Mead-Shikaly, 811 Iowa Street, felt that even though the children are careful when they cross the street more needs to be done than the parking prohibition. The addition of the stop signs would be beneficial. Hammond commented that with the changes on Siskiyou this maybe not time to make a decision, she felt waiting six months would be prudent to see how traffic flows would change. Busse sees an enforcement issue at this location and asks that Officer McClennan do some observing. Dotterrer went over the changes with the closing of Beach and how traffic will travel to Sherman through these streets. The downhill slope leads to speeding. Mead-Shikaly would like to see a decision tonight to make this safer cost or not. Massie explained that to make changes that will be changed in the near future is a practice that the Commission tries to avoid. The education of a driver and the establishment of patterns and habits is part of safe driving. To continually change a situation will cause confusion with drivers and a false sense of confidence for pedestrians and children. Dotterrer commented that it has been proven over and over that stop signs do not make good traffic calming devices, they create noise pollution, air pollution and if they are used in a way which the drivers begin to feel is unwarranted, they will be ignored. Mead-Shikaly asked for some type of traffic calming, even speed bumps could be considered. The commission is still reserved when it comes to using speed bumps, they were not well received and they do slow emergency vehicle travel. Busse commented towards an article that was in the Mail Tribune that evening and encouraged everyone to read it, the topic was right up the lines of what is considered good form for traffic calming. The installation of a stop sign five houses down from Fardlemann has been a beneficial item for their neighborhood. It is a safer installation when the vehicle counts are equal on each leg of the intersection. Decision: Snell motioned to accept the staff’s recommendation to paint the remaining legs of the intersection 25 feet from the corner prohibiting parking and revisiting the area after the Siskiyou project is complete and Massie amended to have enforcement measures taken. Seconded by Busse, passed unanimously. 2.Election of New Commission Chair The new chair will be in place for one calendar year and at the end of that time the vice-chair will then be automatically stepped up into the Chair position. Floor was open to nominations for chair: Mannion was nominated by Snell; Massie was nominated by Busse and Busse was nominated by Fardlemann. Mannion and Busse both declined. Fardlemann seconded the nomination of Massie, unanimously passed. Massie will be the chair until February 2004. Floor was open to nominations for vice chair: Mannion was nominated by Snell; seconded and passed unanimously, Mannion elected vice chair until February 2004 at which time she will become chair until February 2005. 3.Combination of Traffic Safety Commission and Bike and Pedestrian Commission Last week the staff liaisons and two members of the Bike & Pedestrian and Traffic Safety Commissions met to discuss a possible merger of the two commissions into a single Transportation Safety Commission. The dialog has been going on for over a year and the various meetings identified pros and cons: PROS: -In consideration of citizen requests and in project reviews the combined commission would guarantee that the bicycle point of view would be equally considered -The merger would bring planning and engineering concerns closer together -The merger could eliminate the duplication of efforts which both commissions now experience -The merger would reduce meeting times for some members and same issues -The number of actual monthly meetings would be reduced which would free up City meeting facilities -The staff workload could be spread over a broader labor pool -Sub-Committees could be formed for specific advocacy areas CONS: -There is some concern that the merger may increase the commission members workload and require longer meeting times -Some members of the two commissions would be required to step-down as the new combined commission would most likely have only 9 members -There is concern that the advocacy role of the bike and pedestrian commission may be lost or lessened with a merger -Sub-committees may be required to deal with specific issues such as advocating bike issues and therefore require more time -To ensure that the bicycle perspective is preserved it would be necessary to stipulate a required bicycle affiliation for at least one of the commission members The merger obviously warrants further discussion by the commissions both individually and jointly. It is suggested we discuss this proposal and then meet jointly to finalize a course of action. Discussion: At the joint meeting that Mannion attended it was brought up that they would like to combine because they are having difficulties staffing their commission because of the basic nature of advocacy. The staffing would be difficult and the number of components that could be lost needs to be considered. They do not have the public input that we have here. The next meeting is tentatively scheduled for th March 13 at 5:30 PM. Commissioners further discussed the need to combine these groups. Chapman reiterated that the B&P commission’s advocacy stand gives them no ear to the Council. They feel that as part of the Transportation Committee they would be more able to make decisions like the TSC that actually get things done. The frustration of not seeing results makes it hard to be part of a commission. If we could get to make actually physical elements done, it would feel more fulfilling. Things like bikelanes. Chapman feels that the Transportation Committee should also be staffed by members of the Parking and Transportation Committee. Busse warned that a meeting with all of these different committees may become unwielding. Dotterrer did see a the benefit to having an engineer and a planner at a combined meeting. Massie and Busse felt the date should be one where as many commissioners from both commissions could attend and it would be most important to have both liaisons from the Council there. Massie strongly suggested having the meeting facilitated. There are so many different options when considering combining the meetings, frequencies and staffing, subcommittees, they all need to be considered. It would be helpful to have an objective facilitator for this meeting. Decision: Staff will work on dates and times, TSC prefers an evening meeting, and to guarantee that the liaisons will be present and that a facilitator can attend. 4.Sidewalk Needs Inventory At January’s meeting the need for a new proposed sidewalk construction list for inclusion in the five year Capital Improvements Plan was discussed. Each member was to prepare a list of 10 suggested sidewalk projects which could then be refined into a final list of 25 project sites. It was felt a broad response from both Commissions would be preferable to a single staff member since the need could be judged from a multitude of different viewpoints. Each member represents a different location, need and perception of the usefulness of the sidewalks. Following is staff’s suggestion for sidewalks to be constructed: 1.Granite Street a. Strawberry to Pioneer, west side800 LF$20,000 b. Pioneer to upper parking lot, east side1200 LF$36,000 2.Hersey Street a. N. Main to Laurel, south side850 LF$25,500 b. Laurel to Water, north side1000 LF$30,000 3.First Street; A St. to B St., east side360 LF$10,800 4.B Street, Oak to Water St., both sides550 LF$13,750 thth 5.C Street, 4 to 8, north side800 LF$24,000 6.Diane St., Jacquelyn to Tolman, north side700 LF$21,000 7.Nutley St, Scenic to Pine St, north side200 LF$6,000 8.Lincoln St, E. Main to Iowa, east side1000 LF$25,000 9.Garfield St, Siskiyou Blvd. to Iowa, west side500 LF$12,500 10.Lee St, Bridge to Wightman, south side300 LF$9,000 Discussion: Massie has created a priority checklist to help prioritize sidewalks on the list. The commission and engineering could use this as a guideline for choosing locations. Massie asked for feedback. Dotterrer asked if Massie could add a line for safety consideration. Hammond asked about Wimer St. for sidewalks, Olson explained that Wimer has no right of way for sidewalk construction. That also made Massie aware that there was an engineering component that would also prioritize the list. Decision: Staff will work with Massie and continue to come up with sidewalks for the list. 5.March Meeting Time and Place Due to the Budget Committee schedule, the Council Chambers is booked for our usual time and place. Staff has investigated other areas and all seem to be preoccupied. Decision: th Snell moved to cancel the March 27 meeting. Massie seconded. Unanimous. C.Follow-Up On Previous Actions: None D.Goals: Commissioners will look at the strategic plan and evaluate some of the projects. It will be helpful for commissioners to sign up for certain programs or issues that they feel they would like to put more time and effort into seeing to fruition. Please get list back to Lamb for the April meeting. E.Traffic Safety Education 1.Highway Capacity Analysis, March 12-14, OSU F.Development Review 1.Bike & Ped Commission Report 2.Planning Commission Agendas 3.Hearings Board Agenda G.Capital Projects Update North / South Ashland I-5 Project (ODOT) - Siskiyou Boulevard (City) - nd Helman St to 2 St Signal Project (ODOT) - Pedestrian Safety Improvements in the Downtown District (City) - Nevada St Pedestrian Improvements - Tolman Creek Road LID (City) – - Eighth St Sidewalk Construction (City) - Strawberry Land LID (City) update if requested - H.Other 1.Theatre Advertising – 2.Miscellaneous Communication – Letter from Chamber of Commerce was looked at. The commission was happy to report that some of the actions had already been addressed. Hammond, who is a member of the Chamber passed on that this was a compromise for their want to have a signal at every intersection along Lithia and E. Main downtown. They were told this would not be allowed by the State. Olson said that there were nine warrants that must be met for an intersection to be considered for a signal and because most of these requests are for ODOT maintained intersections, all nine would have to be met for any chance. Dotterrer did mention that if the lighted crosswalks are successful that there would be more locations for these to be used and he would love to see one at Main and First Street. Olson will respond back to the Chamber on the other comments. 3.Ashland Welcome sign with Pedestrian message will hopefully be installed by July. Olson has been in contact with ODOT. I.Additional Items 1.Corey VanLandingham – Ashland High School Youth Liaison introduced herself to the Commission – WELCOME ABOARD! 2.Jackson County Traffic Safety – Olson invited any members who would like to attend these meetings in Medford. The information was in the packet. 3.Bike Lanes on Lithia Way – Need more visual attention to make them more definable. Olson and Commission felt this would take time for drivers to recognize there intention. Officer McClennan will work at enforcement of vehicles traveling in the bikelanes. They will be more evident when the Siskiyou project is done and the lanes continue the length of town. 4.RVTD – Is it the right thing for the buses to pull and park in the bikelane during the loading and unloading of passengers. Massie will check with the City of Portland. This is a sticky situation. Could be dangerous for bicyclist, bus rider or driver. 5.Downtown Plan Progression – Anything yet? We need to keep pushing for this to be done. 6.Right Hand Turn Lanes and Bike Lanes Hammond asked what the legal rule is for vehicles making a right turn, do they block the bikelane by pulling into it or do they stay outside the bikelane? Olson commented that legally the vehicle should stay out of the bikelane when making a turn. He will put an article in the Utility Billing Insert to help educate people. IV.Adjourned 8:45 PM úÓÙÃÙÐ× ÛÎØ ì×Ø×ÉÈÊÓÛÎ ùÍÏÏÓÉÉÓÍÎ ïÛÊÙÔ ÈÔ ê×ÕÇÐÛÊ ï××ÈÓÎÕ ïÓÎÇÈ×É Roll Call Spear, Nutter, Reynolds, Beaudoin, Catron, Baxter, and Chapman were present. Matthew Barnes of RVTD was also present. Call to Order Chapman called the meeting to order at 5:06 p.m. Approval of Minutes th Reynolds/Baxter m/s to approve the minutes of February 20, 2003 as presented. Voice vote: All AYES. Motion passed Public Forum None. Crosswalk Enforcement Catron questioned whether this item was intended to address vehicles or pedestrians. He echoed his earlier concern that greater enforcement efforts are needed to prevent pedestrians from violating laws, such as crossing against walk signals. Reynolds noted that she rarely encounters people jaywalking when she is driving. Chapman suggested that foot patrols would be necessary for this sort of enforcement. Reynolds stated that she felt that this was a lower priority aspect of crosswalk enforcement. th It was noted that a sting operation was scheduled for April 18 at 2:00 p.m., and Officer Cook stated that a couple of volunteers would be helpful. Nutter and Chapman volunteered to assist in the operation, and agreed to meet cook at the Police Department for a briefing prior to the operation. Cook noted that there will be sting operations monthly during the coming months; he noted that the tentative location of the first operation would be at Lithia and Oak Streets. Nutter asked whether the police were looking for additional recommended locations. Catron suggested that the area in front of the Ashland Springs Hotel would be a good site for a sting. Cook noted that the entire operation takes about two-and-a-half hours. Chapman noted that the Traffic Safety Commission was looking at the intersection of Morton and Iowa Streets; he added that he stood at the intersection for 45 minutes and stepped into the crosswalk 31 times. He emphasized that only 9 of 31cars had stopped for him. Segway Human Transport (SHT) & Riding on Sidewalks Baxter passed out Segway specifications, and he noted that this issue has been addressed by a lot of major cities. He added that the Segway, which can travel at 12 mph, has been banned on sidewalks in San Francisco. He clarified that he thought the Segway was still allowed to be ridden in a bikelane. Baxter emphasized that he was not against the Segway, but he was unsure if it was appropriate for sidewalk use. Chapman concurred. Baxter noted that the Segway costs roughly $5000. Bike Swap Chapman noted that he had met with Malena Marvin prior to her leaving town, and she had given him her entire information packet on the Bike Swap. He explained that the proceeds, minus advertising costs and Marvin’s time, left $3000. Reynolds stated that this was a service to the community, but she recognized that the project was time-intensive. Barnes noted that RVTD had hired a new bicycle education person, and he stated that he would inquire whether they were willing to take this project on. Baxter noted that the last swap was more streamlined for the vendors, and he added that Marvin’s one-day format seemed to work better. Chapman noted that Marvin felt the event could be shortened even more by limiting it to just the first few hours of the day. Barnes confirmed for Spear that the RVTD bicycle education staffer was from Medford; Spear questioned whether this person might know of some local volunteers who could be contacted about this project. Chapman noted that there was a volunteer list included in Marvin’s materials. 13 2003-0320_Bike Min.docPage of Reynolds questioned whether a motion was needed at this point. Catron suggested limiting the budget to the amount spent last year. Chapman added that he would like to see the event occur in June this year. Baxter suggested that May was a good time for the event. Beaudoin suggested contacted Jim Hartman at the High School to gauge his interest in being involved with the swap. Reynolds added that the main job was the time required up front for organizing the event, and she emphasized that this would require someone with a specific skill-set. Beaudoin questioned whether members were willing to set the event aside if the right person could not be found. Chapman stated that he would further explore options. Bike Lights Harris noted that Marvin had given away the 15 light sets she had for the commuter workshop ride. Harris stated that she would check with Rich Walsh in the Police Department about getting lights in patrol cars for distribution. Baxter noted that light sets might also be an item to sell at the bike swap. Reynolds suggested putting together a checklist of what a bike needs to be legal. Combining Commissions Safe Routes to School/Bike Safety Education Chapman and Reynolds noted that they had met with John O’Malley, Vice Principal at the Middle School. Reynolds reported that they have 13 bikes, but she added that the barrier was that while the PE Department was the logical place for the program the teachers in that department had opted out and interest in the program had collapsed. Reynolds stated that PE teachers found that the program was another time requirement when not enough was available to begin with, and that it came down to a decision between soccer or bicycle education. Reynolds concluded that the course needed some work, and at least 1 or 2 teachers who would be willing to try it out. She added that while the program was originally billed as something that would be turned over to the Middle School, it was not carried out that way and there was a perception that teacher input was not valued. She stated that getting the program underway this spring at the Middle School was not a possibility. Chapman noted that the teacher who worked best with Carol Lee Rogers was coming back next year. Chapman added that he had some suggestions for improving the program, including the need for smaller groups of people. Chapman explained that students had different skill levels and some had discipline problems. Reynolds noted that the PE teacher she had spoken to had a lot of suggestions as well. Reynolds emphasized the need to collaboratively design the program with staff. She reiterated that the Middle School felt that the BTA had not followed through on the original agreement for handing the program off to the school. Reynolds stated that the program has great potential, but she emphasized that it should be limited to the sixth grade only. Beaudoin questioned why the Middle School had not developed a program of its own. Chapman noted that O’Malley had expressed an interest in the Safe Routes program. Chapman added that he had met with Rogers and Bricker, and that the concerns were communication and the fact that the program was still being development. Chapman suggested that having Rogers teach spring classes at the elementary schools would be the best option. Nutter questioned whether it would be better to train teachers. Reynolds noted that the reduced school year (due to budget) might mean that the program was not feasible. Chapman stated that he would talk to Carol Lee Rogers and the new BTA person about continuing the program. Nutter suggested training teachers now. Chapman emphasized that there were two items to address – finishing this year nd training for next year. Chapman added that teachers might change between now and next year. Reynolds pointed out that it could take months to develop a new curriculum, and suggested that planning needs to begin now. Reynolds added that teachers want to teach the program, but don’t want a curriculum. She stated that the main costs would be for bicycles and maintenance. Reynolds and Chapman reiterated the need for expertise to design the program, and then once it is underway to find money for bikes and maintenance. Reynolds suggested that a logical first step would be a meeting between this commission, the BTA, O’Malley, and the PE teachers who will be involved. 23 2003-0320_Bike Min.docPage of Beaudoin/Baxter m/s to continue the spring classes at the elementary schools. Voice vote: All AYES. Motion passed. Baxter questioned whether the Middle School was open to some BTA support. Reynolds/Nutter m/s to have Chapman contact BTA about using curriculum, and if the BTA was agreeable, to have Chapman and Reynolds would meet with O’Malley to set up the next stage. Reynolds clarified that this would be to develop a program for the Middle School. Voice vote: All AYES. Motion passed. Chapman stated that he would also speak to BTA about spring classes. New Business Chapman questioned when announcements for vacant positions would be going out. Nutter/Beaudoin m/s to direct staff to forward the request to the mayor that the vacancies not be filled until the issue of combining commissions was resolved. Voice vote: Nutter & Beaudoin, YES. Spear, Reynolds, Catron, Baxter, and Chapman, NO. Motion failed 5-2. Harris agreed to e-mail members a status update on where the Downtown Plan is on the priority list for the Community Development Department. Adjournment There being no further business, the meeting was adjourned at 7:00 P.M. Next Meeting th 5:00 p.m. on April 17, 2003 33 2003-0320_Bike Min.docPage of ùÍÇÎÙÓÐ ùÍÏÏÇÎÓÙÛÈÓÍÎ Title: Public Hearing for any concerns with the intent to form a Local Improve- ment District for Construction Improvements to Tolman Creek Road & Adopting a Resolution Authorizing & Ordering the Local Improvements for Construction Improvements to Tolman Creek Road Public Works Department Dept: May 6, 2003 Date: Paula Brown Submitted By: Paul Nolte Reviewed By: Gino Grimaldi Approved By: Synopsis : For the past several months, staff and our consulting design engineer have been working with the Tolman Creek Road neighbors to complete design for the installation of sidewalks, parkrows, parking bays, bicycle lanes, pedestrian safety improvements to intersections and traffic diverter islands, drainage and associated improvements to Tolman Creek Roadbetween Siskiyou Boulevard and the railroad tracks. This project has been many years in the making and will greatly improve pedestrian, bicycle and vehicle safety along Tolman Creek Road thereby improving the pedestrian use to Bellview School. On April 1, 2003, Council adopted a resolution to establish this public hearing to hear any concerns with the intention of forming the local improvement district for these improvements. District boundaries include lots fronting on or accessing Tolman Creek Roadbetween Siskiyou Boulevard and the railroad tracks including lots within subdivisions bounded to the west by Jacqueline Street and to the east by Hamilton Creek as depicted on the map attached as Exhibit A. Specific assessments have been estimated for each of the included lots and are shown on Exhibit B. Each equivalent dwelling unit or potential equivalent dwelling unit will pay $1,162.20, which can be Bancrofted over a 10-year period. At the May 20, 2003 meeting staff will bring a resolution to Council to approve the formation of the Tolman Creek Road Sidewalk LID. Staff will ask that this be formed by Council initiative in accordance with AMC Section 13.20.020 as the construction of improvements to Tolman Creek Road is a priority in the City’s Transportation System Plan and has been a priority of the City Council. Recommendation: Staff recommends that Council hold a public hearing to hear any concerns with the intention of forming the Tolman Creek Road Local Improvement District for these improvements. If Council determines a district should be formed adopt the resolution. Fiscal Impact: Each equivalent dwelling unit or potential equivalent dwelling unit will pay $1,162.20, which can be paid in full or Bancrofted over a 10-year period. The total project estimate is $638,985.00. Under resolution 99-09 the City is obligated to pay a majority of sidewalk, storm drain and engineering costs. G:\recorder\City Council Packets\Packet Files\2003\2003-0506 Packet Files\CC Tolman.docPage 1 of 4 The following is a breakdown of the City’s obligation under this recommendation: Total Construction Cost$552,485.00 Engineering and Administration 86,500.00 Total Project Costs$638,985.00 Credit – Jackson County 68,820.00 Credit – Clay Creek Gardens pre-paid 64,175.00 $132,995.00 City Participation in LID per resolution 99-09 Sidewalks (60% of $109,897) 65,938.00 Storm Drain (75% of $94,800) 71,100.00 Paving (20% of $347,788) 69,558.00 Engineering (50% of $66,500) 33,250.00 $239,846.00 $372,841.00 Total Credits $266,144.00 Remaining Assessment Participation Number of equivalent dwelling units 229 Cost per equivalent dwelling unit $1,162.20 Background: Initial discussions for improvements to “Middle” Tolman Creek Road began in 1993. Planning staff developed a Tolman Creek Neighborhood Plan for development improvements along that section in 1999. At that time costs for the construction improvements were very high and there was limited City participation in the LID process. Since then, Council passed Resolution 99-09, which required approximately 40% City participation in each LID and provided a cap on the amount of residential participation. As development has occurred, there have been some improvements to Tolman Creek Road, but the overall need for drainage and pedestrian safety improvements remained a priority of the City Council. Two neighborhood meetings were held at the Bellview Grange in October and December 2002 to finalize the details of the construction improvements project. There are approximately 180 separate ownerships within the proposed LID boundary comprising 229 equivalent dwelling units. The average attendance at the neighborhood meetings was approximately 40-50 people at each meeting. Initial concern was cost and the ability to include all of the desired elements of the project, including sidewalks, bicycle lanes, on-street parking, parkrows, pedestrian safety and traffic calming options, and ensuring that existing trees stayed. Staff recommended inclusion of sidewalks and bike lanes on both sides of the street. Thornton Engineering was hired to complete the final design and has made accommodations for sidewalks on both sides, bikelanes on both sides, a number of parking bays to accommodate on-street parking, significant amounts of parkrows, intersection improvements for pedestrian safety, pedestrian lighting, traffic diverter islands that can be planted, drainage and other improvements. The right of way accommodates these improvements, and by allowing the sidewalk to alternate from back of curb to parkrows ensures the majority of the existing trees will remain in place. Staff and the majority of the neighbors are pleased with Thornton Engineering’s design. Other than accommodating the concerns brought by Dennis DeBay for the corner of Tolman and Siskiyou and the pedestrian improvements for that same intersection, the design is completed. G:\recorder\City Council Packets\Packet Files\2003\2003-0506 Packet Files\CC Tolman.docPage 2 of 4 Staff has advised the property owners within the proposed LID boundary of this public hearing and has had several inquiries, but no opposition to the improvements or the formation of the LID. There are 180 different parcels within the boundary totaling 229 units. Each property owner will pay for one full “unit” (equivalent dwelling unit) with the exception of the 14 units with the Hamilton Creek subdivision that will be assessed for 0.5 unit as they have paid for full improvements within their subdivision. There are eight property owners that are assessed multiple units based upon current zoning and the ability to develop in the future with multiple units. There are two significantly large lots within the LID; one owned by the State of Oregon and currently in operation as ODOT’s Ashland area maintenance yard and the other large lot is owned by Ashland School District at the Bellview School site. The number of equivalent dwelling units at the ODOT site was determined by the future developable lots, whereas the school site was determined based on the trip generation rates of the elementary school and equated to potential units through a conversion to equivalent dwelling units based on an estimate of 10 trips per single family home. The 25 properties within the Clay Creek Gardens are included within the LID but are shown as zero assessment as they had been assessed during that subdivision development and have already paid into the LID. Assuming that there are no major concerns brought forward at the public hearing, staff will finalize design and bring a resolution to Council to approve the formation of the Tolman Creek Road LID through Council initiative in accordance with AMC Section 13.20.020. Although staff has worked with the neighbors and has received general consensus for the formation of the LID, actual signed petitions in favor of the LID have not been collected by staff. Design details and construction specifications will be finalized and staff hopes to have the project out for bids at the end of May. Construction will begin in late June or early July and should be completed in October. G:\recorder\City Council Packets\Packet Files\2003\2003-0506 Packet Files\CC Tolman.docPage 3 of 4 RESOLUTION NO. 03- A RESOLUTION AUTHORIZING AND ORDERING THE LOCAL IMPROVEMENTS FOR CONSTRUCTION IMPROVEMENTS TO TOLMAN CREEK ROAD CONSISTING OF SIDEWALKS, PARKROWS, PARKING BAYS, BICYCLE LANES, PEDESTRIAN SAFETY IMPROVEMENTS TO INTERSECTIONS, TRAFFIC DIVERTER ISLANDS, DRAINAGE AND ASSOCIATED IMPROVEMENTS AND AUTHORIZING THE CITY TO BORROW MONEY AND ISSUE AND SELL NOTES FOR THE PURPOSE OF PROVIDING INTERIM FINANCING FOR THE ACTUAL COST OF THE LOCAL IMPROVEMENT RECITALS: A. The Council has declared by resolution its intention to develop the improvements described in the above title and in the improvement resolution previously adopted and to assess upon each lot or part of lot benefited by the improvement its proportional share of the cost of the improvement; and B. Notice of such intention was duly given, a public hearing was held and it appears to the Council that such improvements are of benefit to the city and all property to be assessed will be benefited to the extent of the probable amount of the respective assessments to be levied for the costs. THE CITY COUNCIL OF THE CITY OF ASHLAND RESOLVES: SECTION 1. A local improvement district is created and shall consist of all the tax lots described in the attached Exhibit A. The district shall be called the Tolman Creek Local Improvement District, No. _____. SECTION 2. The council intends to make local improvements to provide the improvements described in the above title. Such improvements will be in accordance with costs estimated to be $638,985.00 of which $266,144.00 will be paid by special assessments on benefited properties. Costs will be allocated based on $1,162.20 per equivalent dwelling unit or potential equivalent dwelling unit within the assessment area. Lots will be assessed as specified on the attached Exhibit A. SECTION 3. The City of Ashland is authorized to borrow money and issue and sell notes for the purpose of providing interim financing for the actual cost of the local improvement. The notes may be payable from the proceeds of any bonds, issuance of additional notes or from any other sources from which the bonds are payable. This borrowing shall be issued according to the terms of ORS 223.235(7). PAGE 1-FORMATION RESOLUTION (G:\RECORDER\CITY COUNCIL PACKETS\PACKET FILES\2003\2003-0506 PACKET FILES\LID TOLMAN 2 SECTION 4. The City of Ashland expects to make expenditures from its available funds to pay for the costs of the improvement project. The City reasonably expects to issue bonds or other obligations (the “Reimbursement Bonds”) and to use the proceeds of the Reimbursement Bonds to reimburse the City for the expenditures it makes from its available funds for the improvement project. To permit interest on the Reimbursement Bonds to be excludable from gross income, the Internal Revenue Code of the United States requires that the City declare its intent to reimburse itself from Reimbursement Bond proceeds within 60 days after the expenditures are made. The City expects that the principal amount of the Reimbursement Bonds will not exceed $702,884.00. SECTION 5. The assessment imposed upon benefitted properties is characterized as an assessment for local improvement pursuant to ORS 305.583(4). SECTION 6. The city recorder is directed to prepare the estimated assessment of the respective lots within the local improvement district and file it in the lien records of the city. SECTION 7. This resolution takes effect upon signing by the Mayor. This resolution was read by title only in accordance with Ashland Municipal Code §2.04.090 and duly PASSED and ADOPTED this day of , 2003. ____________________________ Barbara Christensen, City Recorder SIGNEDAPPROVED and this ______ day of ________________________, 2003. Alan W. DeBoer, Mayor PAGE 2-FORMATION RESOLUTION (G:\RECORDER\CITY COUNCIL PACKETS\PACKET FILES\2003\2003-0506 PACKET FILES\LID TOLMAN 2 RESOLUTION NO. 03- A RESOLUTION AUTHORIZING AND ORDERING THE LOCAL IMPROVEMENTS FOR CONSTRUCTION IMPROVEMENTS TO TOLMAN CREEK ROAD CONSISTING OF SIDEWALKS, PARKROWS, PARKING BAYS, BICYCLE LANES, PEDESTRIAN SAFETY IMPROVEMENTS TO INTERSECTIONS, TRAFFIC DIVERTER ISLANDS, DRAINAGE AND ASSOCIATED IMPROVEMENTS AND AUTHORIZING THE CITY TO BORROW MONEY AND ISSUE AND SELL NOTES FOR THE PURPOSE OF PROVIDING INTERIM FINANCING FOR THE ACTUAL COST OF THE LOCAL IMPROVEMENT RECITALS: A. The Council has declared by resolution its intention to develop the improvements described in the above title and in the improvement resolution previously adopted and to assess upon each lot or part of lot benefited by the improvement its proportional share of the cost of the improvement; and B. Notice of such intention was duly given, a public hearing was held and it appears to the Council that such improvements are of benefit to the city and all property to be assessed will be benefited to the extent of the probable amount of the respective assessments to be levied for the costs. THE CITY COUNCIL OF THE CITY OF ASHLAND RESOLVES: SECTION 1. A local improvement district is created and shall consist of all the tax lots described in the attached Exhibit A. The district shall be called the Tolman Creek Local Improvement District, No. _____. SECTION 2. The council intends to make local improvements to provide the improvements described in the above title. Such improvements will be in accordance with costs estimated to be $638,985.00 of which $266,144.00 will be paid by special assessments on benefited properties. Costs will be allocated based on $1,162.20 per equivalent dwelling unit or potential equivalent dwelling unit within the assessment area. Lots will be assessed as specified on the attached Exhibit A. SECTION 3. The City of Ashland is authorized to borrow money and issue and sell notes for the purpose of providing interim financing for the actual cost of the local improvement. The notes may be payable from the proceeds of any bonds, issuance of additional notes or from any other sources from which the bonds are payable. This borrowing shall be issued according to the terms of ORS 223.235(7). PAGE 1-FORMATION RESOLUTION (G:\RECORDER\CITY COUNCIL PACKETS\PACKET FILES\2003\2003-0506 PACKET FILES\LID TOLMAN 2 SECTION 4. The City of Ashland expects to make expenditures from its available funds to pay for the costs of the improvement project. The City reasonably expects to issue bonds or other obligations (the “Reimbursement Bonds”) and to use the proceeds of the Reimbursement Bonds to reimburse the City for the expenditures it makes from its available funds for the improvement project. To permit interest on the Reimbursement Bonds to be excludable from gross income, the Internal Revenue Code of the United States requires that the City declare its intent to reimburse itself from Reimbursement Bond proceeds within 60 days after the expenditures are made. The City expects that the principal amount of the Reimbursement Bonds will not exceed $702,884.00. SECTION 5. The assessment imposed upon benefitted properties is characterized as an assessment for local improvement pursuant to ORS 305.583(4). SECTION 6. The city recorder is directed to prepare the estimated assessment of the respective lots within the local improvement district and file it in the lien records of the city. SECTION 7. This resolution takes effect upon signing by the Mayor. This resolution was read by title only in accordance with Ashland Municipal Code §2.04.090 and duly PASSED and ADOPTED this day of , 2003. ____________________________ Barbara Christensen, City Recorder SIGNEDAPPROVED and this ______ day of ________________________, 2003. Alan W. DeBoer, Mayor PAGE 2-FORMATION RESOLUTION (G:\RECORDER\CITY COUNCIL PACKETS\PACKET FILES\2003\2003-0506 PACKET FILES\LID TOLMAN 2 ùÍÇÎÙÓÐ ùÍÏÏÇÎÓÙÛÈÓÍÎ TITLE: Presentation on Housing Trust Fund Project DEPT: Department of Community Development Planning Division DATE: May 6, 2003 SUBMITTED BY: John McLaughlin, Director of Community Development APPROVED BY: Gino Grimaldi, City Administrator Synopsis: Councilor Hartzell has requested that Mary E. Brooks of the Housing Trust Fund Project, a special project of the Center for Community Change, address the council on the topic of housing trust funds. She will be presenting a talk titled “Joining Together for Affordable Housing” at the Presbyterian Church at noon on Tuesday, May 6 as well. Background: A biographic sketch of Ms. Brooks, as well as a flyer for the brown bag discussion are attached to this council communication. Housing Trust Fund Project Center for Community Change 1113 Cougar Court Frazier Park, CA 93225 661-245-0318 (fax 661-245-2518) brooksm@commchange.org BIOGRAPHIC SKETCH Mary E. Brooks Mary E. Brooks has worked as a low-income housing advocate for more than 30 years. The majority of her work has involved applied research on housing, land use and zoning, community development, and civil rights issues for nonprofit organizations and government agencies. She holds a Masters Degree in City and Regional Planning from Ohio State University, where she received the College of Engineering Distinguished Alumna Award in 1976. Currently, she directs the Housing Trust Fund Project, a special project of the Center for Community Change. The Center for Community Change is a national nonprofit organization that provides technical assistance and other services to nonprofit organizations working in low income and minority communities throughout the country. The Housing Trust Fund Project compiles information about the development of housing trust funds throughout the country and promotes the involvement of neighborhood organizations in the creation and implementation of these funds to ensure that they benefit those most in need of housing. Ms. Brooks has prepared several publications on housing trust funds, which are available through the Project, as well as, a quarterly newsletter that provides current information about the development and implementation of housing trust funds around the country. She also provides technical assistance to nonprofit community organizations and others involved in the creation and implementation of housing trust funds. Ms. Brooks has been working with housing trust funds for the last fifteen years and has provided information, technical assistance and training to hundreds of organizations and agencies on the development and implementation of housing trust funds. She is widely recognized as the nation’s expert on these unique funds. Her latest publication is “Housing Trust Fund Progress Report 2002: Local Responses to America’s Housing Needs” which describes the remarkable accomplishments of these funds throughout the country. She has also authored “A Workbook for Creating Housing Trust Funds.” Ms. Brooks has provided consulting services on low income housing issues; has taught at the Graduate School of Architecture and Urban Planning at University of California at Los Angeles and Columbia University; and has authored numerous publications and articles on low income housing issues. She has worked for the American Planning Association, the Suburban/Metropolitan Action Institute, and was director of the National Citizens Monitoring Project on CDBG. She has worked with the Center for Community Change, the National Urban League, Pratt Institute Center for Community and Environmental Development, and the National Low Income Housing Coalition, among others. Her work has been supported by the Ford Foundation, the Taconic Foundation, the Charles Stewart Mott Foundation, the Rockefeller Brothers Fund, the German Marhsall Fund, and others. * * * ¦ Page 1 Hosts: Mary Brooks, Director of the Housing Trust Project with the Center of Community Change at a Brown Bag Lunch Tuesday, May 6 12:00 noon - 1:00 PM Ashland Presbyterian Church – Calvin Hall Walker & Siskiyou Blvd. “ Joining Together for Affordable Housing” Real Estate Transfer Fee Ashland Housing Trust Fund ¨ Questions and Answers about positive housing solutions for Ashland ¨ Bring a Brown Bag lunch and join in the conversation with Mary Brooks ¨ Help develop a consensus for affordable housing strategies Mary E. Brooks Mary E. Brooks has worked as a low-income housing advocate for more than 30 years. The majority of her work has involved applied research on housing, land use and zoning, community development, and civil rights issues for nonprofit organizations and government agencies. She holds a Masters Degree in City and Regional Planning from Ohio State University, where she received the College of Engineering Distinguished Alumna Award in 1976. Currently, she directs the Housing Trust Fund Project, a special project of the Center for Community Change. The Center for Community Change is a national nonprofit organization that provides technical assistance and other services to nonprofit organizations working in low income and minority communities throughout the country. The Housing Trust Fund Project compiles information about the development of housing trust funds throughout the country and promotes the involvement of neighborhood organizations in the creation and implementation of these funds to ensure that they benefit those most in need of housing. FOR MORE INFORMATION CALL: Rich at Oregon Action 772-4029 ùÍÇÎÙÓÐ ùÍÏÏÇÎÓÙÛÈÓÍÎ TITLE:Quarterly financial report: January – March, 2003 DEPT:Finance Department DATE:May 6, 2003 SUBMITTED BY:Lee Tuneberg, Finance Director APPROVED BY:Gino Grimaldi, City Administrator Synopsis: Attached is the City of Ashland financial report for the six-month period ended March 31, 2003. The report includes: 1.Summary of Cash and Investments as of March 31 for the last two years (page 1) 2.Combined Statement of Financial Position (page 2) 3.Schedule of Resources by Fund comparison for the last two years (page 3) 4.Schedule of Budgetary Compliance per Resolution #2002-14 (pages 4 - 6) The reports are intended to present interim information in summary formats consistent with the information provided in the adopted FY 2002-2003 budget document and the manner in which it will be shown in the end of year financial report. Summary of Cash and Investments provides an understanding of changes in the city’s cash position across funds and investment types. Please note that the city-wide cash balance has decreased $10.2 million dollars between years. Last quarter the amount down was $6.8 million indicating expenses exceeding revenues as budgeted. Several times during the year the City Recorder/Treasurer reports to Council on investment activities, the distribution of investments and trends. Combined Statement of Financial Position The is similar to presentations provided in the annual financial report. It is intended to provide the reader an overall sense of the City’s financial position at the present time. At the half-way mark, Ending Fund Balance is $5.0 million over budget. Last quarter the amount over budget was $9.0 million indicating a trend toward the targeted fund balances. Changes in fund balance may not be a good indicator of where the City will be at year’s end due to seasonal influences on operations and revenue as well as construction timelines. Revenues and Budgetary Resources at March 31, 2003 total $51,908,719, as compared to total year-to- date requirements of $59,304,604 which results in a $7.4 million decrease to Unappropriated Ending Fund Balance. The City budgeted $10.9 million more in requirements than resources and that would reduce overall reserves for the ensuing year. Working Capital Carryover from FY 2001-2002 was $25.2 million or 6.25% above the budgeted amount. Taxes, Licenses and Permits and Assessment Payments are ahead of the 75% mark due to their increased collection activity in the first half of the year and interest rate incentives to refinance home loans and pay off assessments. Charges for services and Fines and forfeitures are slightly off the three-quarter mark but should meet target by end of year. Intergovernmental Revenues are low at this point since those revenues are received later in the year. Interest earnings continue to be a smaller portion of total revenue as compared to prior years. Budgetary Resources including operational loans and transfers have been recorded as necessary. Total Requirements are in keeping with the first nine months of activities and requirements showing a 75.08% level. Personal Services is close to 75% and staff will watch closely for overruns due to benefits and changes in personnel for necessary adjustments. Debt Service, Interfund Loans and Operating Transfers have schedules of their own that do not adhere to a straight pro-rata (75%) measurement but are consistent with the budget. Necessary transfers from Contingency will occur in the next few months but a substantial portion of Contingency will be carried forward into the next year as part of Resources. Schedule of Resources by Fund The provides an overview of all resources year-to-date as compared to the prior fiscal year. In most cases, collections are ahead of FY 2003 however, variations due to construction and related financing and transfers can affect these percentages and consistency between years. Fund Balances carried forward into FY 2002-03 and recognized in July account for most funds’ resources posting a percentage above 75%. The 240% of budget posted in the Capital Improvements fund was caused by the receipt of financing proceeds related to the Community Development/Engineering Services building remodel and will be recognized by a supplemental budget. Schedule of Budgetary Compliance The is intended to present expenditures on a budget basis by fund consistent with the resolution adopting appropriation levels in the budget compliance section of the document. Seasonal and construction changes will affect the percentage spent year-to-date but some assumptions can be applied providing a measure of compliance on a budget basis. All things being equal, a 75% or lower level of expenditure can be used to assess budget compliance performance year-to-date. This information helps to identify areas requiring further review and provides the basis for projecting necessary transfers of appropriation or supplemental budgets prior to June 30. General Fund – Total expenditures are 70% with Grants and Transfers exceeding 75% as normal due to required activity. An accounting error in budgeting will require a transfer from Contingency to Administrative Services - Senior Program to appropriate for benefits. CDBG Fund – Expenditures are consistent with activity. Street Fund – Expenditures at 62% but a review and adjustment for LID construction is scheduled. Airport Fund – Expenditures are consistent with activity. Capital Improvements Fund – Expenditures are at 89% of budget reflecting significant capital project progress. Materials & Services are overstated and will be adjusted. A supplemental budget will be needed to recognize the expedited construction schedule for the fire station. Debt Service Fund - Expenditures are consistent with activity. Water Fund – An expenditure adjustment is necessary for Public Works – Distribution SDC project costs not anticipated for this year. Interfund Loans cause the total expenditures to be at 80% of expenditures. Wastewater Fund - Constructione and Interfund Loans cause the total expenditures to be at 80% of expenditures. Electric Fund – Total expenditures are below 75% but a transfer will be necessary for the Supply Division and wholesale power costs. An $810 adjustment is needed for Debt Service. Telecommunications Fund – Expenses are consistent with the business plan but budget will require an adjustment (supplemental) recognizing loan proceeds from late last June that appropriates for the added construction work and Debt Service. Central Services Fund – The Transfer to Parks for school grounds maintenance is 100% complete. All departments are below 75% except Administration that had added costs for the City Administrator recruitment. This will require a transfer from Contingency. Insurance Services Fund – Costs are within the 75% mark and consistent with activity. Equipment Fund – Expenditures are consistent with activity. A correction is needed in allocating personnel costs. Cemetery Trust Fund - Expenditures are consistent with activity. Parks and Recreation Fund - Expenditures are consistent with activity and well below the 75% mark. Ashland Youth activities Levy Fund - Expenditures are consistent with activity. Parks Capital Improvements Fund – Recorded Capital outlay well under budget but consistent with activity. Unaudited, detailed balance sheets, revenues and expenditure reports and fund statements are available for your review in the Finance Department office should you require any additional information. This information, updated for preliminary December data and projections to year end, are the basis for the supplemental budget and transfer of appropriations currently under consideration for the March 4 meeting. Recommendation: Staff recommends acceptance of this report. Fiscal Impact: No impact. This is an update on FY 2002-2003 operational activity as compared to budget. Background: There are three ways in which to change appropriations after the Budget is adopted. 1.A transfer of appropriations decreases an appropriation and increases another. This is the simplest budget change allowed under Oregon Budget law. This does not increase the overall budget. This is approved by a City council resolution. 2.A supplemental budget of less than 10 percent of total appropriations within an individual fund follows a process similar to the transfer of appropriations. 3.A supplemental budget in excess of 10 percent of total appropriations requires a longer process. This process includes a notice in the paper and a public hearing. Only the first type of budget change is necessary and is incorporated into a single resolution for your approval. The recommended changes in the budget are explained after each request. Staff is reviewing the need for transfers of appropriation or a supplemental budget adjustment necessary by end of year per either item 2 or 3, above. úÎÈÏÚÔÑ úÎÐÐÈÏÔÚÜÉÔÎÏ Ì×ÌÔÛæß°°®±ª¿´ ¬± »¨»½«¬» ¿ ߺº·´·¿¬»¼ Ó¿®µ»¬·²¹ ß¹®»»³»²¬ ©·¬¸ ¬¸» Þ±²²»ª·´´» Û²ª·®±²³»²¬¿´ Ú±«²¼¿¬·±² øÞÛÚ÷ º±® °«®½¸¿» ±º Ù®»»² Ì¿¹ º®±³ ÞÛÚò ÜÛÐÌæÛ´»½¬®·½ ú Ì»´»½±³³«²·½¿¬·±² ÜßÌÛæÓ¿§ êô îððí ÍËÞÓ×ÌÌÛÜ ÞÇæÜ·½µ É¿²¼»®½¸»·¼ ßÐÐÎÑÊÛÜ ÞÇæÙ·²± Ù®·³¿´¼· ͧ²±°·æ̸» ߸´¿²¼ ݱ²»®ª¿¬·±² ݱ³³··±² ¸¿ ¾»»² ©±®µ·²¹ ±² ©¿§ ¬± ¿´´±© ߸´¿²¼ ½·¬·¦»² ¿²¼ ¾«·²»» ¬± ·²¼·ª·¼«¿´´§ °«®½¸¿» ¹®»»² °±©»®ò ̸»§ ®»»¿®½¸»¼ ª¿®·±« ±°¬·±² ¿²¼ ¼»½·¼»¼ ¬¸¿¬ ¬¸» °®±°±»¼ ߺº·´·´¿¬»¼ Ó¿®µ»¬·²¹ ß¹®»»³»²¬ ©·¬¸ ¬¸» Þ±²²»ª·´´» Û²ª·®±²³»²¬¿´ Ú±«²¼¿¬·±² øÞÛÚ÷ ©¿ ¬¸» ¾»¬ ½±«®» ±º ¿½¬·±²ò ߬ ¬¸»·® Ó¿®½¸ îí ³»»¬·²¹ô ¬¸»§ ®»½±³³»²¼»¼ «²¿²·³±«´§ ¬¸» Ý·¬§ ݱ«²½·´ ¿«¬¸±®·¦» »²¬»®·²¹ ·²¬± ¬¸» ¿¹®»»³»²¬ ©·¬¸ ÞÛÚò ̸· ¿¹®»»³»²¬ ®»¯«·®» « ¬± ³¿®µ»¬ ÞÛÚ þÙ®»»² Ì¿¹þ ¬¸¿¬ ½¿² ¾» °«®½¸¿»¼ ¾§ ߸´¿²¼ ®»·¼»²¬ ¼·®»½¬´§ º®±³ ÞÛÚò ̸»» ¹®»»² ¬¿¹ ®»°®»»²¬ ¿½¬«¿´ ¹®»»² °±©»® °«®½¸¿»¼ ¾§ ÞÛÚ ±² ¾»¸¿´º ±º ¬¸» ¹®»»² ¬¿¹ °«®½¸¿»®ò ÞÛÚ ©·´´ °®±ª·¼» ¿² «°º®±²¬ °¿§³»²¬ ¬± ¬¸» Ý·¬§ ±º üîôëððòð𠬸¿¬ ©·´´ «»¼ ¬± ·²ª»¬ ·² Ù®»»² б©»® ¹»²»®¿¬·±² ·² ¬¸» Ý·¬§ò ÞÛÚ ©·´´ ¬¸»² «¾¬®¿½¬ üïòððñÙ®»»² Ì¿¹ °«®½¸¿»¼ ¿¹¿·²¬ ¬¸» üîôëðð °¿§³»²¬ò ̸» °®±°±»¼ ¿¹®»»³»²¬ ©±«´¼ ®«² º±® í §»¿® ¿²¼ ½±«´¼ ¾» ®»²»©»¼ ·² ¬¸» º«¬«®» ·º ¼»·®»¼ò λ½±³³»²¼¿¬·±²æݱ«²½·´ ¿«¬¸±®·¦» ¾§ ³±¬·±² »¨»½«¬·±² ±º ¬¸· ¿¹®»»³»²¬ ©·¬¸ ÞÛÚò Ú·½¿´ ׳°¿½¬æÍ·²½» ©» ½¿² «» ¬¸» Ý·¬§ù »¨·¬·²¹ °«¾´·½¿¬·±² ¿²¼ »´»½¬®·½ ³»¼·¿ ¬± ³¿®µ»¬ ¬¸· ®»´¿¬·±²¸·°ô ¬¸»®» ©·´´ ¾» ´·¬¬´» ·º ¿²§ ¼·®»½¬ ½±¬ ¿ ¿ ®»«´¬ ±º ¬¸· ¿¹®»»³»²¬ò Þ¿½µ¹®±«²¼æ̸» Ý·¬§ ±º ߸´¿²¼ °«®½¸¿» ï ¿ÓÉ ±º Û²ª·®±²³»²¬¿´´§ Ю»º»®®»¼ б©»® º®±³ ¬¸» Þ±²²»ª·´´» Û²ª·®±²³»²¬¿´ Ú±«²¼¿¬·±²ò ̸· ®»°®»»²¬ ¿¾±«¬ ëû ±º ¬¸» ¬±¬¿´ °±©»® «»¼ ·² ߸´¿²¼ ¿²¼ ¿¼¼ ¿¾±«¬ üçïôðððñ §»¿® ¬± ±«® ©¸±´»¿´» °±©»® ½±¬ò Þ»½¿«» ¬¸»» ½±¬ ¿®» ¿¼¼»¼ ¬± ±°»®¿¬·±²¿´ ½±¬ ±º ¬¸» Û´»½¬®·½ ˬ·´·¬§ô ¿´´ ±º ¬¸» ½·¬·¦»² ¿²¼ ¾«·²»» ±º ߸´¿²¼ °¿§ º±® ¬¸· °±©»® ¿ ¿ °¿®¬ ±º ¬¸»·® »´»½¬®·½ ®¿¬»ò ̸» Ý·¬§ù ݱ²»®ª¿¬·±² ݱ³³··±² ¸¿ ¾»»² ©±®µ·²¹ ±² ©¿§ ¬± ¿´´±© ·²¼·ª·¼«¿´ ߸´¿²¼ ½·¬·¦»² ¿²¼ ¾«·²» ¬± °«®½¸¿» ³±®» ¹®»»² °±©»® ±² ¿ ª±´«²¬¿®§ ¾¿·ò ߺ¬»® »¨°´±®·²¹ ¿ ²«³¾»® ±º ±°¬·±²ô ¬¸»§ ®»½±³³»²¼»¼ Û´»½¬®·½ñÌ»´»½±³³«²·½¿¬·±² Ü»°¬ò Ü·½µ É¿²¼»®½¸»·¼ô Ü·®»½¬±® çð Òò Ó±«²¬¿·² ߪ» и±²»æ øëìï÷ ìèèóëíëé ߸´¿²¼ô ÑÎ çéëîð Ú¿¨æ øëìï÷ ëëîóîìíê «²¿²·³±«´§ ¿¬ ¬¸»·® Ó¿®½¸ îí ³»»¬·²¹ô ¬¸» ߸´¿²¼ Ý·¬§ ݱ«²½·´ »²¬»® ·²¬± ¿² ߺº·´·¿¬»¼ Ó¿®µ»¬·²¹ ß¹®»»³»²¬ ©·¬¸ ¬¸» Þ±²²»ª·´´» Û²ª·®±²³»²¬¿´ Ú±«²¼¿¬·±² øÞÛÚ÷ ¬± ³¿®µ»¬ ÞÛÚ Ù®»»² Ì¿¹ ¬± ߸´¿²¼ ½·¬·¦»² ¿²¼ ¾«·²»»ò ˲¼»® ¬¸· ¿¹®»»³»²¬ ¬¸» ½·¬§ ©±«´¼ ¼·®»½¬ ±«® ½«¬±³»® ¬± ÞÛÚ º±® ¬¸» ¼·®»½¬ °«®½¸¿» ±º ¬¸»» Ù®»»² Ì¿¹ò ÞÛÚ Ù®»»² Ì¿¹ ø¿´± ½¿´´»¼ ®»²»©¿¾´» »²»®¹§ ½»®¬·º·½¿¬»÷ ¿®» ½®»¿¬»¼ ©¸»² ®»²»©¿¾´» »²»®¹§ ®»±«®½» ¿®» «¾¬·¬«¬»¼ º±® ¬®¿¼·¬·±²¿´ ¹»²»®¿¬·±²ò ̸»§ ®»°®»»²¬ ¬¸» ®»¿´ ¿ª·²¹ ·² ½¿®¾±² ¼·±¨·¼» ¿²¼ ±¬¸»® °±´´«¬¿²¬ ¬¸¿¬ ±½½«® ©¸»² ¹®»»² °±©»® ®»°´¿½» ¾«®²·²¹ º±·´ º«»´ò Í·²½» ®»²»©¿¾´» »²»®¹§ · ¬·´´ ³±®» »¨°»²·ª» ¬¸¿² ¾«§·²¹ ¬®¿¼·¬·±²¿´ °±©»®ô ¹®»»² ¬¿¹ ¿®» °«®½¸¿»¼ ·² ¿¼¼·¬·±² ¬± ¬¸» »´»½¬®·½·¬§ ¬¸¿¬ · ¿´®»¿¼§ ¾»»² «»¼ò Þ«§·²¹ Ù®»»² Ì¿¹ ¸¿ ¬¸» ¿³» »ºº»½¬ ¿ ¾«§·²¹ ¹®»»² °±©»® ¾»½¿«» ¾±¬¸ ®»°´¿½» º±·´ º«»´ ¹»²»®¿¬±® ©·¬¸ ½´»¿² ®»²»©¿¾´» »²»®¹§ ¿²¼ ¾±¬¸ ¸¿ª» »¨¿½¬´§ ¬¸» ¿³» »²ª·®±²³»²¬¿´ ¾»²»º·¬ò Ы®½¸¿·²¹ ÞÛÚ ¹®»»² ¬¿¹ «°°±®¬ ¬¸» °®±¼«½¬·±² ±º ®»²»©¿¾´» »²»®¹§ ·² ¬¸» É»¬»®² λ¹·±²ô ©¸·½¸ ·²½´«¼» ïë ©»¬»®² ¬¿¬»ò ÞÛÚ ¸¿ ¿´®»¿¼§ »²¬»®»¼ ·²¬± ¿ºº·´·¿¬»¼ ½±ó³¿®µ»¬·²¹ ¿¹®»»³»²¬ ©·¬¸ Ì®±«¬ ˲´·³·¬»¼ ±º Ý¿´·º±®²·¿ô Ø¿ª«®¿¸ ͸¿´¿³ ·² ᮬ´¿²¼ô ÑÎô Ó¿·²» ײ¬»®º¿·¬¸ б©»® ¿²¼ Ô·¹¸¬ ¿²¼ Ñ®»¹±² ײ¬»®º¿·¬¸ б©»® ¿²¼ Ô·¹¸¬ò Û¿½¸ Ù®»»² Ì¿¹ ±´¼ ¾§ ÞÛÚ ½±¬ üîðñ°»® §»¿® ¿²¼ · »¯«·ª¿´»²¬ ¬± ïôðððµÉ¸ù ±º »´»½¬®·½·¬§ò ̸» ³·²·³«³ °«®½¸¿» · î ¹®»»² ¬¿¹ ±® üìðòððô ©¸·½¸ ®»°®»»²¬ îôðððµÉ¸ùò Ý·¬§ ±º ߸´¿²¼ù ½«¬±³»® °«®½¸¿» ±º Ù®»»² Ì¿¹ ¬¸®±«¹¸ ÞÛÚ ©·´´ ¾» ¬®¿½µ»¼ ¾§ ÞÛÚ ¿²¼ ÞÛÚ ©±«´¼ ®»·³¾«®» ¬¸» Ý·¬§ üïòððñ Ì¿¹ °«®½¸¿»¼ô ¬± ¾» «»¼ º±® ®»²»©¿¾´» »²»®¹§ °®±¶»½¬ ·² ߸´¿²¼ò ߸´¿²¼ù ®»°±²·¾·´·¬§ «²¼»® ¬¸» ¿¹®»»³»²¬ô ©±«´¼ ¾» ¬± ½±³³«²·½¿¬» ¬± ¬¸» ߸´¿²¼ Û´»½¬®·½ ½«¬±³»® ¿¬ ´»¿¬ ¬©·½» °»® §»¿® ·² ¬¸» º±´´±©·²¹ ·¬»³æ øï÷ ̸» ½±ó³¿®µ»¬·²¹ ¿ºº·´·¿¬·±² ¾»¬©»»² ߸´¿²¼ ¿²¼ ÞÛÚ øî÷ ̸» »²ª·®±²³»²¬¿´ ª¿´«» ±º ¿ ÞÛÚ Ù®»»² Ì¿¹ °«®½¸¿» øí÷ ̸» ¾»²»º·¬ ¬± ¬¸» Ý·¬§ ±º ߸´¿²¼ ±º «½¸ ¿ °«®½¸¿» øì÷ ̸» ·²º±®³¿¬·±² ²»½»¿®§ º±® ¿ ³¿·´»¼ ±® É»¾óÞ¿»¼ Ù®»»² Ì¿¹ °«®½¸¿» º®±³ ÞÛÚò ̸» ¿¹®»»³»²¬ ©±«´¼ ¾» º±® í §»¿® ¾«¬ ½±«´¼ ¾» ¬»®³·²¿¬»¼ ¾§ »·¬¸»® °¿®¬§ ¾§ °®±ª·¼·²¹ ç𠼿§ ©®·¬¬»² ²±¬·½»ò ÞÛÚ ¸¿ º«®¬¸»® ¿¹®»»¼ ¬± °®±ª·¼» ¿ °¿§³»²¬ ±º üîôëððòð𠬱 ¬¸» Ý·¬§ «°º®±²¬ ¬± ¸»´° ½±²¬®«½¬ ¿ ±´¿® »´»½¬®·½ °®±¶»½¬ ·² ߸´¿²¼ô ·º ·¬ · «»¼ º±® »¼«½¿¬·±²¿´ °«®½¸¿»ò ̸» ߸´¿²¼ Ø·¹¸ ͽ¸±±´ù É·´¼»®²» ݸ¿®¬»® ͽ¸±±´ ¸¿ ¿´®»¿¼§ ¾»¹«² ®¿··²¹ ³±²»§ º±® « ¿ ±´¿® »´»½¬®·½ §¬»³ ±² ¬¸»·® ͬ®¿© Þ¿´» º¿½·´·¬§ ±² Ó±®» ͬ®»»¬ò ̸»·® º«²¼ô ¬¸» Ý·¬§ù ͱ´¿® Û´»½¬®·½ λ¾¿¬»ô ¿²¼ ¬¸» ÞÛÚ º«²¼ ©·´´ °®±ª·¼» üëôðð𠺱® ¿ ÐÊ §¬»³ ±² ¬¸»·® ¾«·´¼·²¹ô ©¸·½¸ ½¿² ¾» «»¼ ¬± ¬»¿½¸ ߸´¿²¼ ͽ¸±±´ Ü·¬®·½¬ ¬«¼»²¬ ¿¾±«¬ ͱ´¿® Û²»®¹§ò ̸» üïñ Ù®»»² Ì¿¹ ±´¼ ¬± Û´»½¬®·½ñÌ»´»½±³³«²·½¿¬·±² Ü»°¬ò Ü·½µ É¿²¼»®½¸»·¼ô Ü·®»½¬±® çð Òò Ó±«²¬¿·² ߪ» и±²»æ øëìï÷ ìèèóëíëé ߸´¿²¼ô ÑÎ çéëîð Ú¿¨æ øëìï÷ ëëîóîìíê ߸´¿²¼ ®»·¼»²¬ ¿²¼ ¾«·²»» ¹± ¬±©¿®¼ ¬¸» üîôëððòðð «° º®±²¬ °¿§³»²¬ º®±³ ÞÛÚ º±® ¬¸· ±´¿® §¬»³ò ߸´¿²¼ ©±«´¼ ¾» ¬¸» º·®¬ «¬·´·¬§ ¬± »¨»½«¬» ¿ ³¿®µ»¬·²¹ ¿¹®»»³»²¬ ©·¬¸ ÞÛÚ º±® ¿´» ±º Ù®»»² Ì¿¹ò ̸· ±´«¬·±² °®±ª·¼» ¿ ·³°´» ¿²¼ ·²»¨°»²·ª» ©¿§ º±® « ¬± ¿´´±© ½«¬±³»® ¬± ·²ª»¬ ·² ¹®»»² °±©»® ©·¬¸±«¬ ¬¸» ¿¼³·²·¬®¿¬·ª» »ºº±®¬ ¬¸¿¬ ©±«´¼ ¾» ®»¯«·®»¼ ·º ¬¸» Ý·¬§ ½±´´»½¬»¼ ¬¸· ³±²»§ò ̸· ±´«¬·±² ¿´´±© ¬¸» Ý·¬§ ¬± º«®¬¸»® ±«® ¹±¿´ ±º «·²¹ ³±®» ¹®»»² ®»±«®½» ©·¬¸±«¬ ®»¯«·®·²¹ ¿ ©¸±´» ²»© »¬ ±º ¿¼³·²·¬®¿¬·ª» ¿²¼ ´±¹·¬·½ ¬¿µ ±² Ý·¬§ ͬ¿ººò Û´»½¬®·½ñÌ»´»½±³³«²·½¿¬·±² Ü»°¬ò Ü·½µ É¿²¼»®½¸»·¼ô Ü·®»½¬±® çð Òò Ó±«²¬¿·² ߪ» и±²»æ øëìï÷ ìèèóëíëé ߸´¿²¼ô ÑÎ çéëîð Ú¿¨æ øëìï÷ ëëîóîìíê ùÍÇÎÙÓÐ ùÍÏÏÇÎÓÙÛÈÓÍÎ TITLE:AFN Quarterly Report DEPT:Electric & Telecommunication DATE:May 6, 2003 SUBMITTED BY:Dick Wanderscheid APPROVED BY:Gino Grimaldi Synopsis:This is the Third Quarter Report for FY 2002-03. It covers the period of Jan 1,2003 through March 31, 2003. Recommendation:This report is for informational purposes only and no council action is required. Fiscal Impact:There is no fiscal impact. Background:As part of the work done by the AFN Advisory Committee, a quarterly report format was developed. The first report was completed in November 2001. While we continue to exceed Business Plan projections for Residential CATV, Residential Cable Modems and Bulk CATV accounts, the High Speed Data Accounts are not keeping with plan targets and are declining. The worldwide high tech recessions has also effected Ashland and at last count over 13 businesses that were high speed data customers of AFN have either totally ceased to exist or have closed their Ashland operation. In a positive note, AFN in conjunction with RIO communications will be providing voice over IP dial tone to the Ashland School District beginning in July 2003. RIO will utilize AFN's network to provide this service to all of the School District Facilities. They were the successful bidders submitting the lowest cost proposal to the School District as part of the District's RFP process. While this won't result in a lot of revenue to AFN, we will incur no costs in providing this service. The main beneficiary will be the School District which estimates saving of about $30,000 over 3 years because of the arrangement. Actual expenses are exceeding plan projections primarily due to paying about $95,000 in outstanding bandwidth bills from the previous fiscal year. This occurred because of a dispute with our primary bandwidth provider over AFN’s inability to change to a different type of service. Because they failed to respond Electric/Telecommunication Dept. Dick Wanderscheid, Director 90 N. Mountain Ave Phone: (541) 488-5357 Ashland, OR 97520 Fax: (541) 552-2436 to numerous inquiries from us concerning this, we with held part of payments until they responded to our request. These bills were later paid in September causing the large increase in expense. Because we took credit for having lower expenses last year it is appropriate to claim the expense this fiscal year. The City's last revision of the AFN business plan occurred in fall of 2001. We now have almost 2 full additional years of data that can be used to update this plan. We plan to update the plan this summer when all of the financial data is available from FY 02-02. This update should be able to provide the council with the tools necessary to judge the long-term financial health of AFN and also determine if other steps or initiatives will be necessary or desirable for the future success of AFN. Electric/Telecommunication Dept. Dick Wanderscheid, Director 90 N. Mountain Ave Phone: (541) 488-5357 Ashland, OR 97520 Fax: (541) 552-2436 2002-2003 afn Third Quarter Report QUARTERLY REPORT AFN Net Cable Connections by Month FY 2002-2003 (Plan Year 5) AFN Cable Connec- 3250 tions in the business plan 3000 are projected to be 2,787 2750 by March 31, 2003. As 2500 2250 of March 31, 2002, there 2000 were 2,956 connections, 1750 which exceeds the plan 1500 goal by 169. The plan 1250 projects an end of year 1000 total of 2914, which 750 means we have already 500 exceeded June 30th totals 250 by 42. 0 EOYJulAugSepOctNovDecJanFebMarAprMayJun Actual per BillingTarget EOY Jul Aug Sep Oct NovDecJan Feb Mar Apr May Jun Actual 251725502597 2722 27642817286029062956000 2499 Target 2404244724892532257426172659270227442787282928722914 AFN Net Residential ISP Customers FY 2002-2003 (Plan Year 5) AFN Residential Cable Modem Service as of 3250 March 31, 2003 was 3000 2898 which exceeds the 2750 March target of 2755 by 2500 144. The end of year tar- 2250 get is 2883 which means 2000 we already exceed June 1750 30th targets by 15. 1500 1250 1000 750 500 250 0 EOYJulAugSepOctNovDecJanFebMarAprMayJun Actual per Billing Target EOY Jul Aug Sep Oct NovDecJan Feb Mar Apr May Jun Page 1 Actual 2323240524152514262526542724283630422898000 Target 2373241624582501254325862628267127132756279828412883 afn QUARTERLY REPORT Business Plan Revenues and Expenses. This graph presents estimated monthly revenues totaling to AFN Actual to Projected Monthly Revenues - the annual amount included in 2002-2003 the base plan. The projected 250,000 revenue potential for each month is compared to actual 200,000 revenues posted. The actual 150,000 revenue was $1,430,245. The 100,000 projected revenue was $1,513,707. This means actual 50,000 revenue is $83,462 less than 0 projected revenue. JulAugSepOctNovDecJanFebMarAprMayJun Actual RevenuesPlan Revenues Jul Aug Sep Oct NovDecJan Feb Mar Apr May Jun Actual 145,195 151,991 168,406 155,063 157,602 162,719 161,567 160,125 167,576 Plan 149,000 153,470 158,074 162,816 167,701 172,732 177,914 183,251 188,749 194,411 200,244 203,979 Actual expenses are pro- jected at $282,077 per month for the entire year. AFN Actual to Projected Monthly Expenses - This includes $92,000+ 2002-2003 month in debt services Using the Plan's Depreciation and Budgeted Interest Expense and depreciation which are a fixed cost for AFN. 450,000 Actual expenses for the 400,000 first 6 months equaled 350,000 300,000 $2,679,833 which if com- 250,000 pared to the projected to- 200,000 150,000 tal of $2,538,693 for the 100,000 year, means AFN’s ex- 50,000 0 penses are $141,140 JulAugSepOctNovDecJanFebMarAprMayJun above the plan estimates. Actual ExpensesPlan Expenses Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Actual 162,432 317,631 421,876 306,702 290,010 289,017 299,238 273,956 318,972 Plan 282,077 282,077 282,077 282,077 282,077 282,077 282,077 282,077 282,077 282,077 282,077 282,077 Page 3 afn QUARTERLY REPORT AFN High Speed Data accounts are projected to AFN High Speed Data Connections FY 2002-2003 (Plan Year 5) be 49.5. Using the cur- 60 rent rate of $651/month total data revenues pro- 50 duces 37.4 equivalent ac- counts. Because the busi- 40 ness plan assumes a $710/ 30 month equivalent rate in 02-03 the revenue breaks 20 down into 33.73 accounts which is 15.8 short of 10 plan projections. 0 EOYJulAugSepOctNovDecJanFebMarAprMayJun Equivalent Units updated to meet Plan-Year 5 Actual per BillingTarget EOY Jul Aug Sep Oct NovDecJan Feb Mar Apr May Jun Actual 40.24 36.9 36.9 37.46 36.32 36.89 34.29 34.29 34.29 33.73 Target 4242.8 43.7 44.5 45.3 46.2 47.0 47.8 48.7 49.5 50.3 51.2 52.0 AFN Bulk Services Billed By Month FY 2002-2003 (Plan Year 5) 160 AFN Bulk Service 140 Contracts (hotels and motels) are projected 120 by the plan to be at 100 100 equivalents by July 2003. AFN is currently 80 139 bulk service 60 equivalents, which ex- ceeds the July target. 40 20 0 EOYJulAugSepOctNovDecJanFebMarAprMayJun Actual per BillingTarget EOY Jul Aug Sep Oct NovDecJan Feb Mar Apr May Jun Actual 139139139139139139139139139139 Target 76.7 78.6 80.6 82.5 84.5 86.4 88.3 90.3 92.2 94.2 96.1 98.00 100 Page 2 afn QUARTERLY REPORT Construction Update The Ashland Fiber Network’s construction was being completed by our own in house crew from, July, 2002 through December 2002. In January, we brought one outside contractor crew back to help our own in house crew. From January through March a total of over 13,000 feet of underground plant was completed and services made available in these areas. We now estimate only between 250-325 service addresses are still unable to get AFN. Competition Charter’s internet service ‘Pipeline’ now is offered at a different level of service. Their least expensive level of service is priced at $39.95, (less $10.00 if you have ca- ble TV) and runs a 256 kb of download speeds and 128kb of upload speeds. This is much slower than the speeds offered by AFN. Even with our recently approved rate increase our ISP retail rates are still below Charter’s rates. Charter’s published rate for expanded basic CATV is now $34.81. AFN’s tier 3 rate is priced at $30.60. Charter however has given a number of special rates well below their published rates under 12 month service commitment contracts. The City has installed our advertising insertion equipment and it is now operational. This will enable us to not only start selling advertising on AFN, but will also cross promote programming and premium services, special events and higher tiers of serv- ice. Page 4 úÎÈÏÚÔÑ úÎÐÐÈÏÔÚÜÉÔÎÏ Ì×ÌÔÛæλ±´«¬·±² ·²½®»¿·²¹ Û´»½¬®·½ ®¿¬» ·² Ö«´§ îððí ÜÛÐÌæÛ´»½¬®·½ ú Ì»´»½±³³«²·½¿¬·±²ô Ú·²¿²½» ÜßÌÛæÓ¿§ êô îððí ÍËÞÓ×ÌÌÛÜ ÞÇæÜ·½µ É¿²¼»®½¸»·¼ô Ô»» Ì«²»¾»®¹ ßÐÐÎÑÊÛÜ ÞÇæÙ·²± Ù®·³¿´¼· ͧ²±°·æη·²¹ ¸»¿´¬¸ ½¿®» ¿²¼ ÐÛÎÍ ½±¬ô »´»½¬®·½ °»®±²²»´ ®»¬«®²·²¹ ¬± ¬¸» »´»½¬®·½ «¬·´·¬§ º®±³ ßÚÒô ·²½®»¿»¼ ÞÐß ¬®¿²³··±² ¿²¼ °±©»® ½±¬ ®»¯«·®» ¿² »´»½¬®·½ ®¿¬» ·²½®»¿»ò ̸» ®¿¬» ³±¼»´ ·²¼·½¿¬» ¬¸» ²»»¼ ¬± ·²½®»¿» ±«® ®¿¬» ¾§ ¿¬ ´»¿¬ éòëûô ¿²¼ ·²½®»¿» ¬¸» ÞÐß «®½¸¿®¹» º®±³ ïêû ¬± îðòèûô ¬± ³»»¬ ¬¸» ®»ª»²«» ®»¯«·®»³»²¬ º±® ¬¸» Û´»½¬®·½ ˬ·´·¬§ò λ½±³³»²¼¿¬·±²æͬ¿ºº ®»½±³³»²¼ ¬¸» ݱ«²½·´ ¿°°®±ª» ¬¸» Û´»½¬®·½ כּ λ±´«¬·±² ¬¸¿¬ ·²½®»¿» »´»½¬®·½ ®¿¬» ¾§ éòëû ¿²¼ ¬¸» ÞÐß «®½¸¿®¹» º®±³ ïêû ¬± îðòèûò ̸· ©±«´¼ ®»«´¬ ·² ¿² ±ª»®¿´´ ·²½®»¿» ±º ¿¾±«¬ ïïû ·² »´»½¬®·½ ¾·´´ò Ú·½¿´ ׳°¿½¬æ̸· ®¿¬» ·²½®»¿» ©·´´ ¹»²»®¿¬» ¿¾±«¬ üêëçôðð𠱺 ¿¼¼·¬·±²¿´ »´»½¬®·½ ®¿¬» ®»ª»²«» ¿²¼ üíìëôðéï ·² ¿¼¼·¬·±²¿´ «®½¸¿®¹» ®»ª»²«»ò Ú±® ¿ ®»·¼»²¬·¿´ ½«¬±³»® ¬¸¿¬ «»¼ çðð ÒæÕjÊ ÍØË ÐÎÏÉÕ ÉÕÔÊ ÆÎÈÑÙ ÉËÜÏÊÑÜÉØ ÔÏ ¬¸» »´»½¬®·½ ¾·´´ ø²±¬ ·²½´«¼·²¹ ¬¸» ¬¿¨÷ ·²½®»¿·²¹ º®±³ üìéòðï ¬± üëðòëìò ̸»·® «®½¸¿®¹» ©±«´¼ ·²½®»¿» º®±³ üëòëì ¬± üéòîï ÷ÎË ÜÚÎÐÐØËÚÔÜÑ ÚÈÊÉÎÐØË ÉÕÜÉ ÈÊØÙ ÒæÕjÊ Î× ØÑØÚÉËÔÚÔÉÄ ÍØË ÐÎÏÉÕ ÉÕØÔË ¾·´´ º±® ¾±¬¸ »²»®¹§ ¿²¼ ¼»³¿²¼ ø²±¬ ·²½´«¼·²¹ ¬¸» ¬¿¨÷ ©±«´¼ ·²½®»¿» º®±³ üîðìòìï ¬± üîîðòîïò ̸»·® ÞÐß Í«®½¸¿®¹» ©±«´¼ ·²½®»¿» º®±³ üëïòîï ¬± üëëòðëò Þ¿½µ¹®±«²¼æ̸» Ý·¬§ ´¿¬ ®¿·»¼ ¬¸» ¾¿» »´»½¬®·½ ®¿¬» ¾§ êû ¿²¼ ·²½®»¿»¼ ¬¸» ÞÐß «®½¸¿®¹» º®±³ ïðû ¬± ïêû ±² Ö«´§ ïô îððîò ̸» ݱ«²½·´ ¿°°®±ª»¼ ¬¸» כּ λ±´«¬·±² ±² Ó¿§ îïô îððîò ߬ ¬¸¿¬ ¬·³» ©» ·²º±®³»¼ ¬¸» ݱ«²½·´ ¬¸¿¬ ¾»½¿«» ÞÐß ®¿¬» ©»®» ²±¬ µ²±©²ô ¬¸· ·²½®»¿» ©¿ ¿ þ¾»¬ ¹«»þ ¿²¼ ¿½¬«¿´ ®¿¬» ©±«´¼ ¾» ¿²¿´§¦»¼ ¿²¼ ©» ©±«´¼ ®»¬«®² ¬± ¬¸» ݱ«²½·´ ·² ѽ¬±¾»® º±® ¿² ¿¼¶«¬³»²¬ ¬± ¬¸» ÞÐß «®½¸¿®¹» ·º ²»½»¿®§ò Ѳ Ü»½»³¾»® íô îððîô ¬¿ºº ®»¬«®²»¼ ¬± ¬¸» ݱ«²½·´ ¬± ®»°±®¬ ¬¸¿¬ ÞÐß Ô±¿¼ Þ¿»¼ ݱ¬ λ½±ª»®§ ß¼¶«¬³»²¬ Ý´¿«ÊØ ñûúëüúÆÕÔÚÕ ÚÎÇØËÊ ûíüjÊ ÚÎÊÉÊ ±º °«®½¸¿·²¹ ¿¼¼·¬·±²¿´ °±©»® ¬± ³»»¬ ¬¸»·® ½±²¬®¿½¬»¼ »´»½¬®·½ ´±¿¼ ¿²¼ Ú·²¿²½·¿´ Þ¿»¼ ݱ¬ λ½±ª»®§ ß¼¶«¬³»²¬ Ý´¿«» øÚÞÝÎßÝ÷ô ©¸·½¸ · Û´»½¬®·½ñÌ»´»½±³³«²·½¿¬·±² Ü»°¬ò Ü·½µ É¿²¼»®½¸»·¼ô Ü·®»½¬±® çð Òò Ó±«²¬¿·² ߪ» и±²»æ øëìï÷ ìèèóëíëé ߸´¿²¼ô ÑÎ çéëîð Ú¿¨æ øëìï÷ ëëîóîìíê ÉËÔÖÖØËØÙ Ô× ûíüjÊ ÜÚÚÈÐÈÑÜÉØÙ ÏØÉ ËØÇØÏÈØ º¿´´ ¿ °®»»¬ ¬¸®»¸±´¼ ©»®» ±²´§ ¿ ´·¬¬´» ¸·¹¸»® ¬¸¿² ¿²¬·½·°¿¬»¼ò Þ»½¿«» ÞÐß ¸¿¼ ¼»½·¼»¼ ²±¬ ¬± ·³°±» ¬¸» Í¿º»¬§ Ò»¬ ݱ¬ λ½±ª»®§ ß¼¶«¬³»²¬ Ý´¿«» øÍÒÝÎßÝ÷ô ©¸·½¸ ¬®·¹¹»® ·º ¬¸»®» · ´» ¬¸¿² ¿ ëðû ½¸¿²½» ±º ³¿µ·²¹ ¬¸»·® ½¸»¼«´»¼ Ì®»¿«®§ °¿§³»²¬ «²¬·´ ѽ¬±¾»® ±º îððìô ©» ®»½±³³»²¼»¼ ¬¸¿¬ ²± ¿¼¼·¬·±²¿´ ·²½®»¿» ·² ±«® ®¿¬» ©±«´¼ ¾» ®»¯«·®»¼ ·² ѽ¬±¾»® îððíò ߬ ¬¸· ³»»¬·²¹ ¬¿ºº ·²º±®³»¼ ¬¸» ݱ«²½·´ ©» ©±«´¼ ¾» ®«²²·²¹ ¬¸» Ý·¬§ù »´»½¬®·½ ®¿¬» ³±¼»´ ¼«®·²¹ ¬¸» ´¿¬» É·²¬»® ¿²¼ »¿®´§ Í°®·²¹ «·²¹ ¿½¬«¿´ ÞÐß ¾·´´·²¹ ¼¿¬¿ ¿²¼ ¿½¬«¿´ »´»½¬®·½ ´±¿¼ ¬± ¿²¿´§¦» ¬¸» ¬¿¬« ±º ¬¸» »´»½¬®·½ º«²¼ò ̸· ¸¿ ¾»»² ¿½½±³°´·¸»¼ ¿²¼ ©¸¿¬ ¬¸» ³±¼»´ ¸±©»¼ ©¿ ¬¸¿¬ ¬¸» ¿½¬«¿´ ÞÐß °±©»® ¾·´´ ¿°°»¿® ¬± ¾» ¿¾±«¬ üìððôððð ³±®» ¬¸¿² ±®·¹·²¿´´§ »¬·³¿¬»¼ ²»½»·¬¿¬·²¹ ¿ ¬®¿²º»® ±º ¿°°®±°®·¿¬·±² ·² ¬¸· ¾«¼¹»¬ §»¿® ¬± ½±ª»® ¬¸»» ¸·¹¸»® ½±¬ò Þ»º±®» ÞÐß ·³°´»³»²¬»¼ ¬¸» ½±¬ λ½±ª»®§ ß¼¶«¬³»²¬ Ý´¿«»ô ¬¸» ½·¬§ù ©¸±´»¿´» °±©»® ¾·´´ ·² îððï ©¿ ü ìôëîêôèçìò ̸» ¾«¼¹»¬»¼ ¿³±«²¬ º±® ÚÇ ðíó ðì · üëôèðïôíðð ±® üïôîéìôìðê ³±®» ¬¸¿² °®» «®½¸¿®¹» ®¿¬»ò ɸ»² ¬¸» Ý·¬§ ¾»½¿³» ¿©¿®» ¬¸¿¬ ¬¸» ®¿¬» ©»®» ¹±·²¹ ¬± ¼®¿¬·½¿´´§ ·²½®»¿»ô ¬¸» ½±«²½·´ ¼»½·¼»¼ ¬± «» ¬¸» «®½¸¿®¹» ½±²½»°¬ ¬± °¿§ ¬¸»» ¸·¹¸»® ½±¬ò ̸» «®½¸¿®¹» ©¿ »¨»³°¬»¼ º®±³ ¬¸» ½·¬§ù Û´»½¬®·½ Ë»® Ì¿¨ ¬± ®»¼«½» ¬¸» ·³°¿½¬ ±² ±ª»®¿´´ »´»½¬®·½ ¾·´´ò ̸» ½«®®»²¬ ÞÐß «®½¸¿®¹» ±º ïêû ½±´´»½¬ üïôððèôëîçò ײ½®»¿·²¹ ¬¸» «®½¸¿®¹» ¬± îðòèû ©·´´ ®»«´¬ ·² ¿² ¿¼¼·¬·±²¿´ üíìëôðéï º±® ¿ ¬±¬¿´ ±º üïôíëíôêðð ·² ¬±¬¿´ «®½¸¿®¹» ®»ª»²«» ·² ÚÇ ðíóðìò ̸· · ¿ ´·¬¬´» ¸·¹¸»® ¬¸¿² ¬¸» ¿³±«²¬ ±º ¬¸» °®±¶»½¬»¼ ©¸±´»¿´» °±©»® ·²½®»¿» ½¿«»¼ ¾§ ÞÐßù ÝÎßÝùò Ѭ¸»® ½±¬ ·² ¬¸» «¬·´·¬§ ¿®» ¿´± ·²½®»¿·²¹ò ײ½®»¿» ·² ¸»¿´¬¸ ½¿®» ¿²¼ ÐÛÎÍô ¿²¼ Û´»½¬®·½ °»®±²²»´ ®»¬«®²·²¹ ¬± ¬¸» «¬·´·¬§ º®±³ ßÚÒ ½±²¬®«½¬·±² ¼«¬·»ô ®»«´¬ ·² ¿² ·²½®»¿» ±º üîîîôíððò Ì®¿²³··±² º»» º®±³ ÞÐß ¸¿ª» ·²½®»¿»¼ ¾§ üêðôèïìò Ý¿°·¬±´ °»²¼·²¹ ¸¿ ·²½®»¿»¼ ¾§ ïòèû ±® üïðôðððò Ú®¿²½¸·» º»» ¿®» «° ¾§ üìêôèðð ¿²¼ Ý»²¬®¿´ Í»®ª·½» ݸ¿®¹» ¿®» ¿´± ·²½®»¿·²¹ ¾§ ¿¾±«¬ üçðôðððò ̸· ½±«°´»¼ ©·¬¸ ¬¸» º¿½¬ ¬¸¿¬ ±«® »²¼·²¹ º«²¼ ¾¿´¿²½» ¬¿®¹»¬ · ±²´§ ½´±» ¬± ¬¸» ¬¿®¹»¬ ·º ±«® ½±²¬·²¹»²½§ ¹±» «²°»²¬ô ®»¯«·®» ¬¸· ¹»²»®¿´ ®¿¬» ·²½®»¿»ò ̸» éòëû ®¿¬» ·²½®»¿» ©·´´ ¸»´° ¬± ½±ª»® ¿´´ ±º ¬¸»» ·²½®»¿»¼ ½±¬ ¿²¼ ¿´± ¾®·²¹ ±«® »²¼·²¹ º«²¼ ¾¿´¿²½» ½´±»® ·² ´·²» ©·¬¸ ±«® °±´·½§ò ÞÐß ¸¿ ¿´± ¶«¬ ¬¿®¬»¼ ¬¸» °®±½» ²»½»¿®§ ¬± ¬®·¹¹»® ¬¸» ÍÒÝÎßÝò ̸· °®±½» ©·´´ ½±²½´«¼» ·² Ö«²»ô ¾«¬ ¿² ¿½¬«¿´ ®¿¬» ·²½®»¿» ©±«´¼ ²±¬ ±½½«® «²¬·´ ѽ¬±¾»® îððíò ̸» Ý·¬§ù ÞÐß «®½¸¿®¹» ¿´®»¿¼§ ½±ª»® ¬¸» ÔÞ ÝÎßÝ ¿²¼ ÚÞ ÝÎßÝ ½±¬ ¿²¼ ¬¸»» ½±¬ ¸¿ª» ¾»»² °®±¶»½¬»¼ ¾§ ÞÐß ±ª»® ¬¸» ®»³¿·²¼»® ±º ¬¸» ®¿¬» °»®·±¼ ¿ º±´´±©æ Û´»½¬®·½ñÌ»´»½±³³«²·½¿¬·±² Ü»°¬ò Ü·½µ É¿²¼»®½¸»·¼ô Ü·®»½¬±® çð Òò Ó±«²¬¿·² ߪ» и±²»æ øëìï÷ ìèèóëíëé ߸´¿²¼ô ÑÎ çéëîð Ú¿¨æ øëìï÷ ëëîóîìíê Ç»¿® ÔÞ ÝÎßÝ ú ÚÞ ÝÎßÝ û øÞÐß Í«®½¸¿®¹»÷ îððîìíû îððíìëòëû îððìíçû îððëíéû îððêìðû ̸»®»º±®»ô ·º ¬¸» ÍÒ ÝÎßÝ · ¸·¹¸»® ¬¸¿² ¬¸» êòëû ®»¼«½¬·±² ·² ¬¸» ±¬¸»® úëüújÊ ÍËÎÓØÚÉØÙ ×ÎË îÚÉÎÛØË jÊ ÷ä ÆØ ÚÎÈÑÙ ÊØØ ÜÏÎÉÕØË ©¸±´»¿´» °±©»® ·²½®»¿» º®±³ ÞÐßò ر©»ª»®ô ¬¸» ¿½¬«¿´ ¿³±«²¬ ±º ¬¸» ÍÒ ÝÎßÝ ©±²ù¬ ¾» µ²±©² «²¬·´ ß«¹«¬ò ׺ ¬¸» ÍÒ ÝÎßÝ · «¾¬¿²¬·¿´´§ ¸·¹¸»® ¬¸¿² êòëûô ©» ©±«´¼ ¸¿ª» ¬± ¼·½« ¿² ·²½®»¿» ·² ¬¸» ÞÐß «®½¸¿®¹» º±® ѽ¬±¾»® îððìò ͬ¿ºº ©·´´ µ»»° ¬¸» ½±«²½·´ ·²º±®³»¼ô ¿ ²»© ·²º±®³¿¬·±² ¾»½±³» ¿ª¿·´¿¾´» ±² ¬¸· ·«»ò Û´»½¬®·½ñÌ»´»½±³³«²·½¿¬·±² Ü»°¬ò Ü·½µ É¿²¼»®½¸»·¼ô Ü·®»½¬±® çð Òò Ó±«²¬¿·² ߪ» и±²»æ øëìï÷ ìèèóëíëé ߸´¿²¼ô ÑÎ çéëîð Ú¿¨æ øëìï÷ ëëîóîìíê RESOLUTION NO. 2003- A RESOLUTION REVISING RATES FOR ELECTRIC SERVICE PURSUANT TO ASHLAND MUNICIPAL CODE SECTION 14.16.030 AND REPEALING RESOLUTION 2002- 09. THE CITY OF ASHLAND RESOLVES AS FOLLOWS: SECTION 1. The electric rate schedules are increased 7.5% for rates for electric service provided by the City Ashland effective with Cycle one billings prepared on or after July 1, 2003 as per the attached rate tables. SECTION 2. The City of Ashland adopts a 20.8% surcharge (increased from 16.0%) on billings for electric usage in addition to charges specified in Section 1 to help pay for wholesale rate increases on power supplied to the City of Ashland by the Bonneville Power Administration effective with Cycle one billings prepared on or after July 1, 2003. The new surcharge rate is $0.00801/kwh. SECTION 3. The surcharge revenue is not subject to the Electric Utility Tax or included in the franchise fee calculation for General Fund Revenues. SECTION 4. Three copies of this resolution shall be maintained in the Office of the City Recorder. SECTION 5. Classification of the fee. The fees specified in Section 1 and Section 2 of this resolution is classified as not subject to the limits of Section 11b of Article XI of the Oregon Constitution (Ballot Measure 5). SECTION 6. Resolution 2002-09 is repealed. This resolution was read by title only in accordance with Ashland Municipal Code §2.04.090 duly PASSED and ADOPTED this 6th day of May, 2003. _____________________________ Barbara Christensen, City Recorder SIGNED and APPROVED this 6th day of May, 2003. ___________________________ Alan W. DeBoer, Mayor Reviewed as to form: ____________________________ Paul Nolte, City Attorney 1- Resolution form - Electric rates 2003.doc G:\legal\PAUL\FORMS\resolution form.wpd Ý·¬§ ±º ߸´¿²¼ô Ñ®»¹±² ÍÝØÛÜËÔÛÍ Î ðï ¿²¼ Î ðí ÎÛÍ×ÜÛÒÌ×ßÔ ÍÛÎÊ×ÝÛ ß°°´·½¿¾´»æ̸®»»óи¿» Í»®ª·½» øÎ ðí÷ ̱ ·²¹´»óº¿³·´§ ®»·¼»²¬·¿´ ½«¬±³»® ©¸»²Ú±® ®»·¼»²¬·¿´ ½«¬±³»® ®»¯«·®·²¹ ¬¸®»»ó°¸¿» ¿´´ »®ª·½» · «°°´·»¼ ¬± ±²» °±·²¬ ±º ¼»´·ª»®§ò»®ª·½»ô ©¸±» ·²¹´»ó°¸¿» ®»¯«·®»³»²¬ ¿®»ô ±® ©·´´ ¾» «°°´·»¼ «²¼»® ¿²§ ®»·¼»²¬·¿´ ½¸»¼«´»ô ¬¸®»»ó Ó±²¬¸´§ Þ·´´·²¹æ°¸¿» »®ª·½» ©·´´ ¾» «°°´·»¼ ±²´§ ©¸»² »®ª·½» · ̸» Ó±²¬¸´§ Þ·´´·²¹ ¸¿´´ ¾» ¬¸» «³ ±º ¬¸» ¿ª¿·´¿¾´» º®±³ ¬¸» Ý·¬§ù °®»»²¬´§ »¨·¬·²¹ º¿½·´·¬·»ô Þ¿·½ ¿²¼ Û²»®¹§ ݸ¿®¹» ¿²¼ ÞÐß ±® ©¸»®» «½¸ º¿½·´·¬·» ½¿² ¾» ®»¿±²¿¾´§ ·²¬¿´´»¼ô Í«®½¸¿®¹»¿²¼ ·² ¿²§ »ª»²¬ô ±²´§ ©¸»² ¼»´·ª»®·» ½¿² ¾» ³¿¼» ¾§ «·²¹ ±²» »®ª·½» º±® ½«¬±³»®ù ·²¹´» °¸¿» ¿²¼ Þ¿·½ ݸ¿®¹»æ¬¸®»»ó°¸¿» ®»¯«·®»³»²¬ò ̸» ¼»³¿²¼ ½¸¿®¹» üéòðî °»® ³±²¬¸ò¿°°´·½¿¾´» ±²´§ ¬± ½«¬±³»®ù ¬¸®»»ó°¸¿» ¼»³¿²¼ ¸¿´´ ¾» üîòèê º±® »¿½¸ µ·´±©¿¬¬ ±º ¼»³¿²¼ô ¾«¬ ²±¬ Û²»®¹§ ݸ¿®¹»æ´» ¬¸¿² üéòðî ³·²·³«³ ¼»³¿²¼ ½¸¿®¹»ò ìòíç½ °»® µÉ¸ º±® ¬¸» º·®¬ ëðð µÉ¸Ì¸» »²»®¹§ ½¸¿®¹» ¸¿´´ ¾» ·² ¿½½±®¼¿²½» ©·¬¸ ¬¸» ëòìð½ º±® ¿´´ ¿¼¼·¬·±²¿´ µÉ¸½¸»¼«´» »¬ º±®¬¸ ¸»®»·²ò ݱ²¬·²«·²¹ Í»®ª·½» ½ã ½»²¬ ̸· ½¸»¼«´» · ¾¿»¼ ±² ½±²¬·²«·²¹ »®ª·½» ¿¬ »¿½¸ Ó·²·³«³ ݸ¿®¹»æ»®ª·½» ´±½¿¬·±²ò Ü·½±²²»½¬ ¿²¼ ®»½±²²»½¬ ¬®¿²ó ̸» ³±²¬¸´§ ³·²·³«³ ½¸¿®¹» ¸¿´´ ¾» ¬¸»¿½¬·±² ¸¿´´ ²±¬ ±°»®¿¬» ¬± ®»´·»ª» ¿ ½«¬±³»® º®±³ Þ¿·½ ݸ¿®¹»ò ß ¸·¹¸»® ³·²·³«³ ³¿§ ¾»³±²¬¸´§ ³·²·³«³ ½¸¿®¹»ò ®»¯«·®»¼ «²¼»® ½±²¬®¿½¬ ¬± ½±ª»® °»½·¿´ ½±²¼·¬·±²ò Í°»½·¿´ ݱ²¼·¬·±²æ Ò± ³±¬±® ´±¿¼ ¸¿´´ »¨½»»¼ ¿ ¬±¬¿´ ±º é ïñî ¸±®»°±©»® ½±²²»½¬»¼ ¿¬ ±²» ¬·³»ò »ºº»½¬·ª» Ö«´§ ðïô îððí Û´»½óͽ¸ Îðïú®ðí éóðïóðí º·²¿´ò¨´ëñîñðíìæïé ÐÓ Ý·¬§ ±º ߸´¿²¼ô Ñ®»¹±² ÍÝØÛÜËÔÛ ë ÎÛÒÛÉßÞÔÛ ÎÛÍÑËÎÝÛ ÙÛÒÛÎßÌ×ÑÒ ß°°´·½¿¾´»æ ̸· ½¸»¼«´» · ¿°°´·½¿¾´» ¬± ¯«¿´·º§·²¹øí÷Ï«¿´·º§·²¹ º¿½·´·¬§ ¸¿´´ °®±ª·¼» ¿² ¿¼¼·¬·±²¿´ ³»¬»® º¿½·´·¬·» ©·¬¸ ¿ ¹»²»®¿¬·²¹ ¼»·¹² ±º ïð𾿻 ¿¼¶¿½»²¬ ¬± ¬¸» ¼»´·ª»®§ ³»¬»® ¬± ³»¿«®» ¬¸» µ·´±©¿¬¬ ±® ´»ò¯«¿´·º§·²¹ º¿½·´·¬§ù ¬±¬¿´ ¹»²»®¿¬·±² ·²¼»°»²¼»²¬´§ º®±³ ¬¸» ¯«¿´·º§·²¹ º¿½·´·¬§ù ´±¿¼ò Ú±® ¬¸®»»ó°¸¿» Ó±²¬¸´§ ¾·´´·²¹æ ¹»²»®¿¬·±² ¬¸» ¯«¿´·º§·²¹ º¿½·´·¬§ ©·´´ ¿´± °®±ª·¼» ̸» ³±²¬¸´§ ¾·´´·²¹ º±® ¬¿µ·²¹ º®±³ ¬¸» Ý·¬§ ¿ ³»¬»® ¾¿» º±® ¿ Õª¿® ³»¬»®ò ¸¿´´ ¾» ·² ¿½½±®¼¿²½» ©·¬¸ ¬¸» ¿°°´·½¿¾´» ½¸»¼«´» ±® ½¸»¼«´» º±® ¬¸» ¬§°» ±º »®ª·½»øì÷Û¨½»°¬ º±® ¬¸» ³»¬»®·²¹ô ¯«¿´º§·²¹ º¿½·´·¬§ ¸¿´´´ ±©² ®»½»·ª»¼ò¿²¼ ³¿·²¬¿·² ¿´´ º¿½·´·¬·» ±² ¬¸» ¯«¿´·º§·²¹ º¿½·´·¬§ù ·¼» ±º ¿ ·²¹´» °±·²¬ ±º ¼»´·ª»®§ ¿ °»½·º·»¼ ¾§ ¬¸» Ù»²»®¿¬·±² ½®»¼·¬æ Ý·¬§ò Ï«¿´·º§·²¹ º¿½·´·¬§ù §¬»³ô ·²½´«¼·²¹ ·²¬»®ó Ý·¬§ ¸¿´´ °¿§ êòéë ½»²¬ °»® µÉ¸ º±® ¿´´ »¨½»½±²²»½¬»¼ »¯«·°³»²¬ô ¸¿´´ ³»»¬ ¬¸» ®»¯«·®»³»²¬ »°¿®¿¬»´§ ³»¬»®»¼ µÉ¸ù ¹»²»®¿¬»¼ º®±³ ¿±º ¿²¼ ¾» ·²°»½¬»¼ ¿²¼ ¿°°®±ª»¼ ¾§ ¬¿¬» »´»½¬®·½¿´ ¯«¿´·º§·²¹ º¿½·´·¬§ò·²°»½¬±® ¿²¼ ¿²§ ±¬¸»® °«¾´·½ ¿«¬¸±®·¬§ ¸¿ª·²¹ ¶«®·¼·½¬·±² ¾»º±®» ¿²§ ½±²²»½¬·±² · ³¿¼» ¬± Ý·¬§ò п®¿´´»´ Ñ°»®¿¬·±²æ ײ¬»®½±²²»½¬·±² ±º ¿ ¯«¿´·º§·²¹ º¿½·´·¬§ ©·¬¸Ë²³»¬»®»¼ Ù»²»®¿¬·±²æ Ý·¬§ù §¬»³ ©·´´ ¾» °»®³·¬¬»¼ ±²´§ «²¼»® ¬¸»×º ¬¸» ¯«¿´·º§·²¹ º¿½·´·¬§ ¼±» ²±¬ ¼»·®» ¬± ³¿µ» ¿´» ¬»®³ ±º ¿ ½±²¬®¿½¬ ¾»¬©»»² ¬¸» ¯«¿´·º§·²¹¬± Ý·¬§ô ¬¸» ®»¯«·®»³»²¬ º±® »°¿®¿¬» ³»¬»®·²¹ ±º ¬¸» º¿½·´·¬§ ¿²¼ ¬¸» Ý·¬§ò ̸» ½±²¬®¿½¬ ³«¬ ³»»¬¹»²»®¿¬·±² ¸¿´´ ¾» ©¿·ª»¼ò Í«½¸ ¹»²»®¿¬·±² ³¿§ ®»¯«·®»³»²¬ ±º ¬¸» Ü»°¿®¬³»²¬ ±º Û´»½¬®·½®»¼«½» ¬¸» ²»¬ ¼»´·ª»®§ ¿²¼ ¾·´´·²¹ ¬± ¬¸» ¯«¿´·º§·²¹ ˬ·´·¬·»ò ̸» º±®³ ±º «½¸ ½±²¬®¿½¬ ¸¿´´ º¿½·´·¬§ ¾§ Ý·¬§ò ̸» ¼»´·ª»®§ ³»¬»® ©·´´ ¾» ±º ¿ ¬§°» ¬¸¿¬ ·²½´«¼» ¾«¬ ²±¬ ¾» ´·³·¬»¼ ¬± ¬¸» º±´´±©·²¹æ©·´´ ²±¬ ¾» ½±³°»²¿¬»¼ º±® «²³»¬»®»¼ ·²½·¼»²¬¿´ º´±© ¬± Ý·¬§ò øï÷ ̸» ¯«¿´·º§·²¹ º¿½·´·¬§ ¸¿´´ ·²¼»³²·º§ ¿²¼ ¸±´¼ ¸¿®³´» ¬¸» Ý·¬§ ±º ߸´¿²¼ º®±³ ¿²§ ¿²¼ ¿´´ ´·¿¾·´·¬§ ¿®··²¹ º®±³ ¬¸» ±°»®¿¬·±² ¿²¼ ·²¬»®½±²²»½¬·±² ±º ¯«¿´·º§·²¹ º¿½·´·¬§ò øî÷̸» ¯«¿´·º§·²¹ º¿½·´·¬§ ¸¿´´ °®±ª·¼» ¿ ´±½µ¿¾´» ¼·½±²²»½¬ ©·¬½¸ ¬± ·±´¿¬» ¯«¿´·º§·²¹ º¿½·´·¬§ù ¹»²»®¿¬·±² º®±³ Ý·¬§ù §¬»³ò Í«½¸ ©·¬½¸ ¸¿´´ ¾» ¿½½»·¾´» ¬± Ý·¬§ ¿²¼ Ý·¬§ ¸¿´´ ¸¿ª» ¬¸» ®·¹¸¬ ¬± ´±½µ «½¸ ¼·½±²²»½¬ ©·¬½¸ ±°»² ©¸»²»ª»® ²»½»¿®§ ¬± ³¿·²¬¿·² ¿º» »´»½¬®·½¿´ ±°»®¿¬·²¹ ½±²¼·¬·±² ±® ©¸»²»ª»® ¬¸» ¯«¿´·º§·²¹ º¿½·´·¬§ ¿¼ª»®»´§ ¿ºº»½¬ Ý·¬§ù §¬»³ò Ûºº»½¬·ª» Ö«´§ ïô îððí ݧ½´» Ѳ» ØæñΫñכּñͽ¸ ìèòëñîñðí Ý·¬§ ±º ߸´¿²¼ô Ñ®»¹±² ÍÝØÛÜËÔÛ ì ÍÛßÍÑÒßÔ ÎÛÍ×ÜÛÒÌ×ßÔ ÍÛÎÊ×ÝÛ ß°°´·½¿¾´»æ̸®»»óи¿» Í»®ª·½» øÎ ðí÷ ̸· ®¿¬» · ¿°°´·½¿¾´» ¬± »¿±²¿´ ®»·¼»²¬·¿´Ú±® ®»·¼»²¬·¿´ ½«¬±³»® ®»¯«·®·²¹ ¬¸®»»ó°¸¿» «» «½¸ ¿ ±©²»® ±½½«°·»¼ ·²¹´»óº¿³·´§»®ª·½»ô ©¸±» ·²¹´»ó°¸¿» ®»¯«·®»³»²¬ ¿®»ô ±® ©·´´ ®»·¼»²¬·¿´ ½«¬±³»® °®±ª·¼·²¹ ¬®¿ª»´»®¾» «°°´·»¼ «²¼»® ¿²§ ®»·¼»²¬·¿´ ½¸»¼«´»ô ¬¸®»»ó ¿½½±³³±¼¿¬·±²ô ¿²¼ ©¸»² ¿´´ »®ª·½» · °¸¿» »®ª·½» ©·´´ ¾» «°°´·»¼ ±²´§ ©¸»² »®ª·½» · «°°´·»¼ ¿¬ ±²» °±·²¬ ±º ¼»´·ª»®§ò¿ª¿·´¿¾´» º®±³ ¬¸» Ý·¬§ù °®»»²¬´§ »¨·¬·²¹ º¿½·´·¬·»ô ±® ©¸»®» «½¸ º¿½·´·¬·» ½¿² ¾» ®»¿±²¿¾´§ ·²¬¿´´»¼ô Ó±²¬¸´§ Þ·´´·²¹æ¿²¼ ·² ¿²§ »ª»²¬ô ±²´§ ©¸»² ¼»´·ª»®·» ½¿² ¾» ³¿¼» ̸» Ó±²¬¸´§ Þ·´´·²¹ ¸¿´´ ¾» ¬¸» «³ ±º ¬¸» ¾§ «·²¹ ±²» »®ª·½» º±® ½«¬±³»®ù ·²¹´» °¸¿» ¿²¼ Þ¿·½ ¿²¼ Û²»®¹§ ݸ¿®¹» ¿²¼ ÞÐß ¬¸®»»ó°¸¿» ®»¯«·®»³»²¬ò ̸» ¼»³¿²¼ ½¸¿®¹» Í«®½¸¿®¹»ò¿°°´·½¿¾´» ±²´§ ¬± ½«¬±³»®ù ¬¸®»»ó°¸¿» ¼»³¿²¼ ¸¿´´ ¾» üîòèê º±® »¿½¸ µ·´±©¿¬¬ ±º ¼»³¿²¼ô ¾«¬ ²±¬ Þ¿·½ ݸ¿®¹»æ´» ¬¸¿² üéòðî ³·²·³«³ ¼»³¿²¼ ½¸¿®¹»ò ̸» »²»®¹§ éòðî °»® ³±²¬¸½¸¿®¹» ¸¿´´ ¾» ·² ¿½½±®¼¿²½» ©·¬¸ ¬¸» ½¸»¼«´» »¬ º±®¬¸ ¸»®»·²ò Û²»®¹§ ݸ¿®¹»æ ìòèéêî½ °»® µÉ¸ º±® ¬¸» º·®¬ êðð µÉ¸Ý±²¬·²«·²¹ Í»®ª·½» ëòíçðï½ º±® ¿´´ ¿¼¼·¬·±²¿´ µÉ¸Ì¸· ½¸»¼«´» · ¾¿»¼ ±² ½±²¬·²«·²¹ »®ª·½» ¿¬ »¿½¸ ½ ã ½»²¬»®ª·½» ´±½¿¬·±²ò Ü·½±²²»½¬ ¿²¼ ®»½±²²»½¬ ¬®¿²ó ¿½¬·±² ¸¿´´ ²±¬ ±°»®¿¬» ¬± ®»´·»ª» ¿ ½«¬±³»® º®±³ ³±²¬¸´§ ³·²·³«³ ½¸¿®¹»ò Ó·²·³«³ ݸ¿®¹»æ ̸» ³±²¬¸´§ ³·²·³«³ ½¸¿®¹» ¸¿´´ ¾» ¬¸» Þ¿·½ ݸ¿®¹»ò ß ¸·¹¸»® ³·²·³«³ ³¿§ ¾» ®»¯«·®»¼ «²¼»® ½±²¬®¿½¬ ¬± ½±ª»® °»½·¿´ ½±²¼·¬·±²ò Í°»½·¿´ ݱ²¼·¬·±²æ Ò± ³±¬±® ´±¿¼ ¸¿´´ »¨½»»¼ ¿ ¬±¬¿´ ±º é ïñî ¸±®»°±©»® ½±²²»½¬»¼ ¿¬ ±²» ¬·³»ò Ûºº»½¬·ª» Ö«´§ ðïô îððí ݧ½´» Ѳ» ØæñΫñÛ´»½òÍ»¿±²¿´ ͽ¸ ì ô éóïëóðî Ý·¬§ ±º ߸´¿²¼ô Ñ®»¹±² ÍÝØÛÜËÔÛ Ýðï úÝðí Þ¿·½ »¬½ò ß°°´·½¿¾´»æÜ»³¿²¼ ݸ¿®¹»æ ̸· ½¸»¼«´» · ¿°°´·½¿¾´» ¬± ²±²ó®»·¼»²¬·¿´Ò± ½¸¿®¹» º±® ¬¸» º·®¬ ïë µÉ ±º ¼»³¿²¼ò ¿²¼ ³«´¬·°´»óº¿³·´§ ®»·¼»²¬·¿´ ½«¬±³»® Ю·½» °»® µÉ º±® ¿´´ µÉ ·² »¨½» ±º ïë µÉ ©¸±» »²¬·®» ®»¯«·®»³»²¬ ¿®» «°°´·»¼üîòéê ¸»®»«²¼»®ô ¿²¼ ©¸±» ´±¿¼ ¸¿ª» ²»ª»® ®»¹·¬»®»¼ ïôððð µ·´±©¿¬¬ ±® ³±®»ô ³±®» ¬¸¿² Û²»®¹§ ݸ¿®¹»æ ±²½» ·² ¿²§ ½±²»½«¬·ª» ïèó³±²¬¸ °»®·±¼òÛ²»®¹§ ݸ¿®¹»Í·²¹´» и¿»Ì¸®»» и¿» Ü»´·ª»®·» ¿¬ ³±®» ¬¸¿² ±²» °±·²¬ô ±® ³±®»Ý ðï Ý ðí ¬¸¿² ±²» ª±´¬¿¹» ¿²¼ °¸¿» ½´¿·º·½¿¬·±²ô ©·´´É·²¬»® ó °»®ëòíêêìòèéð ¾» »°¿®¿¬»´§ ³»¬»®»¼ ¿²¼ ¾·´´»¼ò Í»®ª·½» º±®µÉ¸ º±® ¬¸» ·²¬»®³·¬¬»²¬ô °¿®¬·¿´ ®»¯«·®»³»²¬ ±® ¸·¹¸´§º·®¬ íôððð º´«½¬«¿¬·²¹ ´±¿¼ô ±® ©¸»®» »®ª·½» ·µÉ¸ »¿±²¿´´§ ¼·½±²²»½¬»¼ ¼«®·²¹ ¿²§ ±²» §»¿®É·²¬»® ó °»®ëòíèíìòèèï °»®·±¼ ©·´´ ¾» °®±ª·¼»¼ ±²´§ ¾§ °»½·¿´µÉ¸ º±® ¬¸» ½±²¬®¿½¬ º±® «½¸ »®ª·½»ò²»¨¬ ïéôððð µÉ¸ Ó±²¬¸´§ ¾·´´·²¹æ É·²¬»® ó °»®ëòìðéìòèçï ̸» ³±²¬¸´§ ¾·´´·²¹ ¸¿´´ ¾» ¬¸» «³ ±º ¬¸» µÉ¸ º±® ¿´´ Þ¿·½ô Ü»³¿²¼ô Û²»®¹§ô ¿²¼ λ¿½¬·ª» б©»®¿¼¼·¬·±²¿´ ݸ¿®¹»ô °´« ¿°°´·½¿¾´» Ó»¬»®·²¹ ¿²¼ µÉ¸ Ü»´·ª»®§ ¿¼¶«¬³»²¬ ¿²¼ ÞÐß Í«®½¸¿®¹»òÍ«³³»® ó °»®ëòðéîìòêèé µÉ¸ º±® ¬¸» Þ¿·½ ݸ¿®¹»æº·®¬ íôððð µÉ¸ Þ¿·½Í·²¹´»Ì¸®»»Í«³³»® ó °»®ëòðèèìòéìî ݸ¿®¹»Ð¸¿»Ð¸¿»µÉ¸ º±® ¬¸» Ý ðïÝ ðí²»¨¬ ïéôððð íð µÉ ïîòëíîëòðéµÉ¸ ±® ´»Í«³³»® ó °»®ëòïïììòéëé µÉ¸ º±® ¿´´ Ѫ»®ìéòðïèïòì鿼¼·¬·±²¿´ íð µÉµÉ¸ ö Ò±¬»æ כּ ¿®» ¸±©² ¿ ½»²¬ °»® µÉ¸ ö Ò±¬»æ Õ·´±©¿¬¬ ´±¿¼ ·¦»ô º±® ¼»¬»®³·²¿¬·±² ±º Þ¿·½ ݸ¿®¹»ô ¸¿´´ ¾» ¬¸» ¿ª»®¿¹» ±º ¬¸» ¬©± ¹®»¿¬»¬ ²±²ó¦»®± ³±²¬¸´§ ¼»³¿²¼ »¬¿¾´·¸»¼ ¼«®·²¹ ¬¸» ïî ³±²¬¸ °»®·±¼ ©¸·½¸ ·²½´«¼» ¿²¼ »²¼ ©·¬¸ ¬¸» ½«®®»²¬ ¾·´´·²¹ ³±²¬¸ò Ûºº»½¬·ª» Ö«´§ ðïô îððí Ý·¬§ ±º ߸´¿²¼ô Ñ®»¹±² ͽ¸»¼«´» Ùðï ú Ùðí ÙÑÊÛÎÒÓÛÒÌßÔ ÍÛÎÊ×ÝÛ ß°°´·½¿¾´»æÜ»³¿²¼ ݸ¿®¹»æ ̸· ½¸»¼«´» · ¿°°´·½¿¾´» ¬± ¹±ª»®²³»²¬¿´ Ò± ½¸¿®¹» º±® ¬¸» º·®¬ ïë µÉ ±º ¼»³¿²¼ò ½«¬±³»® ©¸±» »²¬·®» ®»¯«·®»³»²¬ ¿®»Ð®·½» °»® µÉ º±® ¿´´ µÉ ·² »¨½» ±º ïë µÉ «°°´·»¼ ¸»®»«²¼»®ô ¿²¼ ©¸±» ´±¿¼ ¸¿ª» ²»ª»®üîòéê ®»¹·¬»®»¼ ïôððð µ·´±©¿¬¬ ±® ³±®»ô ³±®» ¬¸¿² ±²½» ·² ¿²§ ½±²»½«¬·ª» ïèó³±²¬¸ °»®·±¼ò Û²»®¹§ ݸ¿®¹»æ Ü»´·ª»®·» ¿¬ ³±®» ¬¸¿² ±²» °±·²¬ô ±® ³±®»Û²»®¹§ ݸ¿®¹»Í·²¹´» и¿»Ì¸®»» и¿» ¬¸¿² ±²» ª±´¬¿¹» ¿²¼ °¸¿» ½´¿·º·½¿¬·±²ô ©·´´Ù ðïÙ ðí ¾» »°¿®¿¬»´§ ³»¬»®»¼ ¿²¼ ¾·´´»¼ò É·²¬»® ó °»®êòìèðéòððð µÉ¸ º±® ¬¸» º·®¬ íôððð Ó±²¬¸´§ ¾·´´·²¹æµÉ¸ ̸» ³±²¬¸´§ ¾·´´·²¹ ¸¿´´ ¾» ¬¸» «³ ±º ¬¸» É·²¬»® ó °»®ìòêìíëòðïë Þ¿·½ô Ü»³¿²¼ô Û²»®¹§ô ¿²¼ λ¿½¬·ª» б©»®µÉ¸ º±® ¬¸» ݸ¿®¹»ô °´« ¿°°´·½¿¾´» Ó»¬»®·²¹ ¿²¼ ²»¨¬ ïéôððð Ü»´·ª»®§ ¿¼¶«¬³»²¬ ¿²¼ ÞÐß Í«®½¸¿®¹»òµÉ¸ É·²¬»® ó °»®ìòíëîìòéðî Þ¿·½ ݸ¿®¹»æµÉ¸ º±® ¿´´ ¿¼¼·¬·±²¿´ Þ¿·½Í·²¹´»Ì¸®»»µÉ¸ ݸ¿®¹»Ð¸¿»Ð¸¿»Í«³³»® ó °»®ëòçðëêòíèð ÙðïÙðíµÉ¸ º±® ¬¸» íð µÉ ïîòëíîëòð麷®¬ íôððð ±® ´»µÉ¸ Í«³³»® ó °»®ìòêìíëòðïë Ѫ»®ìéòðïèïòìéµÉ¸ º±® ¬¸» íð µÉ²»¨¬ ïéôððð µÉ¸ Í«³³»® ó °»®ìòíëîìòéðî ö Ò±¬»æ Õ·´±©¿¬¬ ´±¿¼ ·¦»ô º±® ¼»¬»®³·²¿¬·±² ±ºµÉ¸ º±® ¿´´ Þ¿·½ ݸ¿®¹»ô ¸¿´´ ¾» ¬¸» ¿ª»®¿¹» ±º ¬¸» ¬©±¿¼¼·¬·±²¿´ ¹®»¿¬»¬ ²±²ó¦»®± ³±²¬¸´§ ¼»³¿²¼µÉ¸ »¬¿¾´·¸»¼ ¼«®·²¹ ¬¸» ïî ³±²¬¸ °»®·±¼ ©¸·½¸ ö Ò±¬»æ כּ ¿®» ¸±©² ¿ ½»²¬ °»® µÉ¸ ·²½´«¼» ¿²¼ »²¼ ©·¬¸ ¬¸» ½«®®»²¬ ¾·´´·²¹ ³±²¬¸ò Í»¿±²¿´ Ü»º·²¿¬·±²æ É·²¬»® ³±²¬¸ ¿®» ¼»º·²»¼ ¿ ¬¸» ·¨ ®»¹«´¿® ¾·´´·²¹ °»®·±¼ Ò±ª»³¾»® ¬¸®±«¹¸ ß°®·´ò Í«³³»® ³±²¬¸ ¿®» ¼»º·²»¼ ¿ ¬¸» ·¨ ®»¹«´¿® ¾·´´·²¹ °»®·±¼ô Ó¿§ ¬¸®±«¹¸ ѽ¬±¾»®ò Ûºº»½¬·ª» Ö«´§ ðïô îððí ݧ½´» ±²» Û´»½óͽ¸ Ùðï ú Ùðí éóðïóðí º·²¿´ò¨´ Ý×ÌÇ ÑÚ ßÍØÔßÒÜô ÑÎÛÙÑÒÍÝØÛÜËÔÛÍ Ùðï ú Ùðí ÙÑÊÛÎÒÓÛÒÌßÔ ÍÛÎÊ×ÝÛ Ó·²·³«³ ݸ¿®¹»æ ̸» ³±²¬¸´§ ³·²·³«³ ½¸¿®¹» ¸¿´´ ¾» ¬¸» ¾¿·½ ®»¯«»¬ ±º ¬¸» ½«¬±³»®ô ³¿¼» ¾§ ³»¿² ±º Ý·¬§ó ½¸¿®¹»ò ß ¸·¹¸»® ³·²·³«³ ³¿§ ¾» ®»¯«·®»¼±©²»¼ ¬®¿²º±®³»® ¿¬ ¿ ª±´¬¿¹» ±¬¸»® ¬¸¿² ¿ ´±½¿´´§ «²¼»® ½±²¬®¿½¬ ¬± ½±ª»® °»½·¿´ ½±²¼·¬·±²ò¬¿²¼¿®¼ ¼·¬®·¾«¬·±² ª±´¬¿¹»ô ¬¸» ¿¾±ª» ½¸¿®¹» º±® ¿²§ ³±²¬¸ ©·´´ ¾» ·²½®»¿»¼ ¾§ ïë ø½»²¬÷ °»® µ·´±©¿¬¬ λ¿½¬·ª» б©»® ݸ¿®¹»æ±º ´±¿¼ ·¦» «»¼ º±® ¬¸» ¼»¬»®³·²¿¬·±² ±º ¬¸» Þ¿·½ ̸» ³¿¨·³«³ íðó³·²«¬» ®»¿½¬·ª» ¼»³¿²¼ º±® ݸ¿®¹» ¾·´´»¼ ·² ¬¸» ³±²¬¸ò ̸» Ý·¬§ ®»¬¿·² ¬¸» ®·¹¸¬ ¬¸» ³±²¬¸ ·² µ·´±ª±´¬ó¿³°»®» ·² »¨½» ±º¬± ½¸¿²¹» ·¬ ´·²» ª±´¬¿¹» ±® ½´¿·º·½¿¬·±² ¬¸»®»±º ìðû ±º ¬¸» ³»¿«®»¼ µ·´±©¿¬¬ ¼»³¿²¼ ¬¸» ¿¬ ¿²§ ¬·³»ô ¿²¼ ¿º¬»® ®»¿±²¿¾´» ¿¼ª¿²½» ²±¬·½» ¬± ¿³» ³±²¬¸ ©·´´ ¾» ¾·´´»¼ô ·² ¿¼¼·¬·±² ¬± ¬¸» ¿²§ ½«¬±³»® ¿ºº»½¬»¼ ¾§ «½¸ ½¸¿²¹»ò Í«½¸ ¿¾±ª» ½¸¿®¹»ô ¿¬ êðø½»²¬÷ °»® µª¿® ±º «½¸½«¬±³»® ¬¸»² ¸¿ ¬¸» ±°¬·±² ¬± ¬¿µ» »®ª·½» ¿¬ ¬¸» »¨½» ®»¿½¬·ª» ¼»³¿²¼ò²»© ´·²» ª±´¬¿¹» ±® ¬± ¿½½»°¬ »®ª·½» ¬¸®±«¹¸ ¬®¿²ó º±®³»® ¬± ¾» «°°´·»¼ ¾§ Ý·¬§ «¾¶»½¬ ¬± ¬¸» ª±´¬¿¹» Ü»³¿²¼æ¿¼¶«¬³»²¬ ¿¾±ª» Ü»³¿²¼ ¸¿´´ ¾» ¬¸» µ·´±©¿¬¬ ¸±©² ¾§ô ±® ½±³°«¬»¼ º®±³ ¬¸» ®»¿¼·²¹ ±º ¬¸» Ý·¬§ùݱ²¬®¿½¬æ ¼»³¿²¼ ³»¬»® º±® ¬¸» íðó³·²«¬» °»®·±¼ ±º ̸» Ý·¬§ ³¿§ ®»¯«·®» ¬¸» ½«¬±³»® ¬± ·¹² ¿ ©®·¬¬»² ½«¬±³»®ù ¹®»¿¬»¬ « ¼«®·²¹ ¬¸» ³±²¬¸ô½±²¬®¿½¬ ©¸·½¸ ¸¿´´ ¸¿ª» ¿ ¬»®³ ±º ²±¬ ´» ¬¸¿² ±²» ¼»¬»®³·²»¼ ¬± ¬¸» ²»¿®»¬ µ·´±©¿¬¬òøï÷ §»¿®ò Ó»¬»®·²¹ ú Ü»´·ª»®§ ʱ´¬¿¹» ß¼¶«¬³»²¬æײ¬¿´´¿¬·±² ¿²¼ Ó¿·²¬»²¿²½»æ ̸» ¿¾±ª» ³±²¬¸´§ ½¸¿®¹» ¿®» ¿°°´·½¿¾´»Ì¸» Ý·¬§ ³¿§ ½±²¬®¿½¬ º±® ¬¸» ·²¬¿´´¿¬·±² ¿²¼ Ó¿·²¬ó ©·¬¸±«¬ ¿¼¶«¬³»²¬ º±® ª±´¬¿¹» ©¸»² ¼»´·ª»®§»²¿²½» ±º »´»½¬®·½ º¿½·´·¬·» ±² ¬¸» ½«¬±³»®ù °®»³·»ò ¿²¼ ³»¬»®·²¹ ¿®» ¿¬ ¬¸» Ý·¬§ù ¬¿²¼¿®¼Ì¸» ¬»®³ ±º «½¸ »®ª·½» ¸¿´´ ¾» »¬ º±®¬¸ ·² ¿ »½±²¼¿®§ ª±´¬¿¹»ò½±²¬®¿½¬ô ¬¸» º±®³ ¿²¼ ¬»®³ ±º ©¸·½¸ ¸¿´´ ¾» ¿°ó °®±ª»¼ ¾§ ¬¸» Ý·¬§ ݱ«²½·´ò Ó±²¬¸´§ ½¸¿®¹» ³¿¼» ¾§ Ó»¬»®·²¹æ ¬¸» Ý·¬§ ¿ ®»·³¾«®»³»²¬ º±® ±©²»®¸·°ô ±°»®¿¬·±² Ú±® ¿ ´±²¹ ¿ ³»¬»®·²¹ ª±´¬¿¹» · ¿¬ ¬¸» Ý·¬§ù ¿²¼ ³¿·²¬»²¿²½» ½±¬ ¿°°´·½¿¾´» ¬± º¿½·´·¬·» ·²¬¿´´»¼ ¿ª¿·´¿¾´» °®·³¿®§ ¼·¬®·¾«¬·±² ª±´¬¿¹» ±º ïïµÊ¬± º«®²·¸ »®ª·½» «²¼»® ®«´» ±º ¬¸· ͽ¸»¼«´» ¸¿´´ ±® ¹®»¿¬»®ô ¬¸» ¿¾±ª» ½¸¿®¹» ¸¿´´ ¾» ®»¼«½»¼¾» ¼»¬»®³·²»¼ ·² ¿½½±®¼¿²½» ©·¬¸ ¬¸» º±´´±©·²¹æ ¾§ øïóïñîû÷ ¬± ½±³°»²¿¬» º±® ´±»ò øï÷ Ñ°»®¿¬·²¹ ݸ¿®¹» óó ¸¿´´ ¾» »¯«¿´ ¬± îñí ±º ïû Ü»´·ª»®§æ °»® ³±²¬¸ ±º ¬¸» ·²¬¿´´»¼ ½±¬ ±º º¿½·´·¬·» °¿·¼ Ú±® ¿ ´±²¹ ¿ ¼»´·ª»®§ ª±´¬¿¹» · ¿¬ Ý·¬§ù º±® ¾§ ¬¸» ½«¬±³»®ò ¿ª¿·´¿¾´» °®·³¿®§ ¼·¬®·¾«¬·±² ª±´¬¿¹» ±º ïïµÊ ±® ¹®»¿¬»®ô ¬¸» ¬±¬¿´ ±º ¬¸» ¿¾±ª» ½¸¿®¹» ©·´´ ¾» øî÷ Ú¿½·´·¬·» ݸ¿®¹» óó ¸¿´´ ¾» »¯«¿´ ¬± ï ïñîû °»® ®»¼«½»¼ ¾§ ïëø½»²¬÷ °»® µ·´±©¿¬¬ ±º ´±¿¼ ·¦» ³±²¬¸ ±º ¬¸» ·²¬¿´´»¼ ½±¬ ±º ¬¸» º¿½·´·¬·» ¿ «»¼ º±® ¬¸» ¼»¬»®³·²¿¬·±² ±º ¬¸» Þ¿·½ ݸ¿®¹» ¼»¬»®³·²»¼ ¾§ ¬¸» Ý·¬§ º±® º¿½·´·¬·» ·²¬¿´´»¼ ¿¬ ¾·´´»¼ ·² ¬¸» ³±²¬¸ò ß Ø·¹¸ ʱ´¬¿¹» ½¸¿®¹» ±º Ý·¬§ù »¨°»²»ò üíëòðð °»® ³±²¬¸ ©·´´ ¾» ¿¼¼»¼ ©¸»®» «½¸ ¼»´·ª»®·» ¿®» ³»¬»®»¼ ¿¬ ¬¸» ¼»´·ª»®§ ª±´¬¿¹»òøí÷ Ì®¿²º±®³»® Ý¿°¿½·¬§ ݸ¿®¹» óó ¸¿´´ ¾» »¯«¿´ ɸ»² ¿ ²»© ¼»´·ª»®§ô ±® ¿² ·²½®»¿» ·² ½¿°¿½·¬§ ¬± ïë ø½»²¬÷ °»® ²¿³»°´¿¬» µª¿ò º±® ¿² »¨·¬·²¹ ¼»´·ª»®§ ·ô ¿¬ ¬¸» Ûºº»½¬·ª» Ö«´§ ðïô îððí ݧ½´» Ѳ» Û´»½óͽ¸ Ùðï ú Ùðí éóðïóðí º·²¿´ò¨´ Ý·¬§ ±º ߸´¿²¼ô Ñ®»¹±²ò ͽ¸»¼«´» Ùðï ú Ùðí ÙÑÊÛÎÒÓÛÒÌßÔ ÍÛÎÊ×ÝÛ Í°»½·¿´ ݱ²¼·¬·±²æ Ý«¬±³»® ¸¿´´ ²±¬ ®»»´´ »´»½¬®·½ »®ª·½» ®»½»·ª»¼ º®±³ ¬¸» Ý·¬§ «²¼»® °®±ª··±² ±º ¬¸» ½¸»¼«´» ¬± ¿²§ °»®±²ô »¨½»°¬ ¾§ ©®·¬¬»² °»®³··±² ±º ¬¸» Ý·¬§ô ¿²¼ ©¸»®» ½«¬±³»® ³»¬»® ¿²¼ ¾·´´ ¿²§ ±º ¸·ñ¸»® ¬»²¿²¬ ¿¬ Ý·¬§ù ®»¹«´¿® ®¿¬» º±® ¬¸» ¬§°» ±º »®ª·½» ©¸·½¸ «½¸ ¬»²¿²¬ ³¿§ ¿½¬«¿´´§ ®»½»·ª»ò ݱ²¬·²«·²¹ Í»®ª·½»æ ̸· ½¸»¼«´» · ¾¿»¼ ±² ½±²¬·²«·²¹ »®ª·½» ¿¬ »¿½¸ »®ª·½» ´±½¿¬·±²ò Ü·½±²²»½¬ ¿²¼ ®»½±²²»½¬ ¬®¿²¿½¬·±² ¸¿´´ ²±¬ ±°»®¿¬» ¬± ®»´·»ª» ¿ ½«¬±³»® º®±³ ³±²¬¸´§ ³·²·³«³ ½¸¿®¹»ò Ûºº»½¬·ª» Ö«´§ ïô îððí ݧ½´» Ѳ» Û´»½óͽ¸ Ùðï ú Ùðí éóðïóðí º·²¿´ò¨´ Ý·¬§ ±º ߸´¿²¼ô Ñ®»¹±² ÍÝØÛÜËÔÛ ìè ÔßÎÙÛ ÙÛÒÛÎßÔ ÍÛÎÊ×ÝÛ ó ÓÛÌÛÎÛÜ Ì×ÓÛ ÑÚ ËÍÛ ÑÊÛÎ îôððð Õ×ÔÑÉßÌÌÍ ß°°´·½¿¾´»æ ײ¬¿´´¿¬·±² ¿²¼ Ó¿·²¬»²¿²½»æ ̸· ½¸»¼«´» · ¿°°´·½¿¾´» ¬± »´»½¬®·½ »®ª·½»Ì¸» Ý·¬§ ³¿§ ½±²¬®¿½¬ º±® ¬¸» ·²¬¿´´¿¬·±² ¿²¼ ³¿·²¬»²¿²½» ´±¿¼ ©¸·½¸ ¸¿ª» ®»¹·¬»®»¼ ±ª»® îôðð𱺠»´»½¬®·½ º¿½·´·¬·» ±² ¬¸» ½«¬±³»®ù °®»³·»ò ̸» µ·´±©¿¬¬ ³±®» ¬¸¿² ±²½» ·² ¿²§ ½±²»½«¬·ª»¬»®³ ±º «½¸ »®ª·½» ¸¿´´ ¾» »¬ º±®¬¸ ·² ¿ ½±²¬®¿½¬ô ¬¸» ïèó³±²¬¸ °»®·±¼ò Ü»´·ª»®·» ¿¬ ³±®» ¬¸¿² º±®³ ¿²¼ ¬»®³ ±º ©¸·½¸ ¸¿´´ ¾» ¿°°®±ª»¼ ¾§ ¬¸» Ý·¬§ ±²» °±·²¬ô ±® ³±®» ¬¸¿² ±²» ª±´¬¿¹» ¿²¼Ý±«²½·´ò Ó±²¬¸´§ ½¸¿®¹» ³¿¼» ¾§ ¬¸» Ý·¬§ ¸¿´´ ¾» °¸¿» ½´¿·º·½¿¬·±²ô ©·´´ ¾» »°¿®¿¬»´§¿°°®±ª»¼ ¾§ ¬¸» Ý·¬§ ݱ«²½·´ò Ó±²¬¸´§ ½¸¿®¹» ³¿¼» ¾§ ³»¬»®»¼ ¿²¼ ¾·´´»¼ò Í»®ª·½» º±® ·²¬»®³·¬¬»²¬ô¬¸» Ý·¬§ ¿ ®»·³¾«®»³»²¬ º±® ±©²»®¸·°ô ±°»®¿¬·±² ¿²¼ °¿®¬·¿´ ®»¯«·®»³»²¬ô ±® ¸·¹¸´§ º´«½¬«¿¬·²¹ ³¿·²¬»²¿²½» ½±¬ ¿°°´·½¿¾´» ¬± º¿½·´·¬·» ·²¬¿´´»¼ ¬± ´±¿¼ô ±® ©¸»®» »®ª·½» · »¿±²¿´´§º«®²·¸ »®ª·½» «²¼»® ®«´» ±º ¬¸» ͽ¸»¼«´» ¸¿´´ ¾» ¼·½±²²»½¬»¼ ¼«®·²¹ ¿²§ ±²»ó§»¿® °»®·±¼ ©·´´¼»¬»®³·²»¼ ·² ¿½½±®¼¿²½» ©·¬¸ ¬¸» º±´´±©·²¹æ ¾» °®±ª·¼»¼ ±²´§ ¾§ °»½·¿´ ½±²¬®¿½¬ º±® «½¸ »®ª·½»òøï÷ Ñ°»®¿¬·²¹ ݸ¿®¹» óó ¸¿´´ ¾» »¯«¿´ ¬± îñí ±º ïû °»® ³±²¬¸ ±º ¬¸» ·²¬¿´´»¼ ½±¬ ±º º¿½·´·¬·» °¿·¼ Ó±²¬¸´§ ¾·´´·²¹æ º±® ¾§ ¬¸» ½«¬±³»®ò ̸» Ý·¬§ ©·´´ ²»¹±¬·¿¬» ©·¬¸ ¿ ½«¬±³»® ¿ ®¿¬» ¬®«½¬«®» ¿²¼ ®¿¬» ´»ª»´ ¾¿»¼ «°±² ¬¸» øî÷ Ú¿½·´·¬·» ݸ¿®¹» óó ¸¿´´ ¾» »¯«¿´ ¬± ï ïñîû °»® °»½·º·½ ½·®½«³¬¿²½» ±º ¬¸» ½«¬±³»®ò ߬ ¿ ³±²¬¸ ±º ¬¸» ·²¬¿´´»¼ ½±¬ ±º ¬¸» º¿½·´·¬·» ¿ ³·²·³«³ô ¬¸» ®¿¬» ¼»ª»´±°»¼ º±® ¬¸· ½¸»¼«´» ¼»¬»®³·²»¼ ¾§ ¬¸» Ý·¬§ º±® º¿½·´·¬·» ·²¬¿´´»¼ ¿¬ ©·´´ ¾» »¬ ¿¬ ¿ «ºº·½·»²¬ ´»ª»´ ¬± ®»½±ª»® ¿´´ ±º Ý·¬§ù »¨°»²»ò ¬¸» ½±¬ ·²½«®®»¼ ¾§ ¬¸» Ý·¬§ ¬± »®ª» ¬¸» ½«¬±³»®ô ·²½´«¼·²¹ ¿ ³·²·³«³ ½±²¬®·¾«¬·±² ¬±øí÷ Ì®¿²º±®³»® Ý¿°¿½·¬§ ݸ¿®¹» óó ¸¿´´ ¾» »¯«¿´ º·¨»¼ ¿»¬ò ¬± ïë ø½»²¬÷ °»® ²¿³»°´¿¬» µª¿ò Ó»¬»®·²¹ ú Ü»´·ª»®§ ʱ´¬¿¹» ß¼¶«¬³»²¬æÍ°»½·¿´ ݱ²¼·¬·±²æ ̸» Ý·¬§ ®»¬¿·² ¬¸» ®·¹¸¬ ¬± ½¸¿²¹» ·¬ ´·²» Ý«¬±³»® ¸¿´´ ²±¬ ®»»´´ »´»½¬®·½ »®ª·½» ®»½»·ª»¼ º®±³ ª±´¬¿¹» ±® ½´¿·º·½¿¬·±² ¬¸»®»±º ¿¬ ¿²§ ¬·³»ô¬¸» Ý·¬§ «²¼»® °®±ª··±² ±º ¬¸· ½¸»¼«´» ¬± ¿²§ °»®±²ô ¿²¼ ¿º¬»® ®»¿±²¿¾´» ¿¼ª¿²½» ²±¬·½» ¬± ¿²§ »¨½»°¬ ¾§ ©®·¬¬»² °»®³··±² ±º ¬¸» Ý·¬§ô ¿²¼ ©¸»®» ½«¬±³»® ¿ºº»½¬»¼ ¾§ «½¸ ½¸¿²¹»ô «½¸ ½«¬±³»® ³»¬»® ¿²¼ ¾·´´ ¿²§ ±º ¸·ñ¸»® ¬»²¿²¬ ¿¬ ½«¬±³»® ¬¸»² ¸¿ ¬¸» ±°¬·±² ¬± ¬¿µ» »®ª·½»Ý·¬§ù ®»¹«´¿® ®¿¬» º±® ¬¸» ¬§°» ±º »®ª·½» ©¸·½¸ «½¸ ¬¸®±«¹¸ ¬®¿²º±®³»® ¬± ¾» «°°´·»¼ ¾§ Ý·¬§¬»²¿²¬ ³¿§ ¿½¬«¿´´§ ®»½»·ª»ò «¾¶»½¬ ¬± ¬¸» ª±´¬¿¹» ¿¼¶«¬³»²¬ ¿¾±ª»ò ݱ²¬®¿½¬æ ̸» Ý·¬§ ³¿§ ®»¯«·®» ¬¸» ½«¬±³»® ¬± ·¹² ¿ ©®·¬¬»² ½±²¬®¿½¬ ©¸·½¸ ¸¿´´ ¸¿ª» ¿ ¬»®³ ±º ²±¬ ´» ¬¸¿² ±²» øï÷ §»¿®ò Ûºº»½¬·ª» Ö«´§ ïô îððíݧ½´» Ѳ» ØæñΫñכּñͽ¸ ìèòëñîñðí Ý·¬§ ±º ߸´¿²¼ô Ñ®»¹±² ÍÝØÛÜËÔÛ ëð ÙÛÒÛÎßÔ ÍÛÎÊ×ÝÛ ó ÙÑÊÛÎÒÓÛÒÌßÔ ÔßÎÙÛ ÍÛÎÊ×ÝÛ Ð¿¹» ï ß°°´·½¿¾´»æ ìðû ±º ¬¸» ³»¿«®»¼ µ·´±©¿¬¬ ¼»³¿²¼ º±® ¬¸» ¿³» ̸· ½¸»¼«´» · ¿°°´·½¿¾´» ¬± »´»½¬®·½ »®ª·½»³±²¬¸ ©·´´ ¾» ¾·´´»¼ô ·² ¿¼¼·¬·±² ¬± ¬¸» ¿¾±ª» ½¸¿®¹»ô ¿¬ ´±¿¼ ©¸·½¸ ¸¿ª» ®»¹·¬»®»¼ º®±³ ïôðð𠬱 íôðð𮿬» ¸±©² ¾»´±©ô °»® µª¿® ±º «½¸ »¨½» ®»¿½¬·ª» µ·´±©¿¬¬ ³±®» ¬¸¿² ±²½» ·² ¿²§ ½±²»½«¬·ª»¼»³¿²¼ò ïèó³±²¬¸ °»®·±¼ò Ü»´·ª»®·» ¿¬ ³±®» ¬¸¿² ðòéëîë ±²» °±·²¬ô ±® ³±®» ¬¸¿² ±²» ª±´¬¿¹» ¿²¼ °¸¿» ½´¿·º·½¿¬·±²ô ©·´´ ¾» »°¿®¿¬»´§Ó»¬»®·²¹æ ³»¬»®»¼ ¿²¼ ¾·´´»¼ò Í»®ª·½» º±® ·²¬»®³·¬¬»²¬ôÚ±® ¿ ´±²¹ ¿ ³»¬»®·²¹ ª±´¬¿¹» · ¿¬ ¬¸» Ý·¬§ù °¿®¬·¿´ ®»¯«·®»³»²¬ô ±® ¸·¹¸´§ º´«½¬«¿¬·²¹ ¿ª¿·´¿¾´» °®·³¿®§ ¼·¬®·¾«¬·±² ª±´¬¿¹» ±º ïïµÊ ´±¿¼ô ±® ©¸»®» »®ª·½» · »¿±²¿´´§±® ¹®»¿¬»®ô ¬¸» ¿¾±ª» ½¸¿®¹» ¸¿´´ ¾» ®»¼«½»¼ ¼·½±²²»½¬»¼ ¼«®·²¹ ¿²§ ±²»ó§»¿® °»®·±¼ ©·´´¾§ øïóïñîû÷ ¬± ½±³°»²¿¬» º±® ´±»ò ¾» °®±ª·¼»¼ ±²´§ ¾§ °»½·¿´ ½±²¬®¿½¬ º±® «½¸ »®ª·½»ò Ü»´·ª»®§æ Ú±® ¿ ´±²¹ ¿ ¼»´·ª»®§ ª±´¬¿¹» · ¿¬ Ý·¬§ù Ó±²¬¸´§ ¾·´´·²¹æ½«®®»²¬ ´±½¿´´§ ¿ª¿·´¿¾´» °®·³¿®§ ±® ¬®¿²³··±² ª±´¬¿¹» ̸» Ó±²¬¸´§ Þ·´´·²¹ ¸¿´´ ¾» ¬¸» «³ ±º ¬¸» ¬¸» ¬±¬¿´ ±º ¬¸» ¿¾±ª» ½¸¿®¹» ©·´´ ¾» ®»¼«½»¼ ¾§ ¬¸» Þ¿·½ô Ü»³¿²¼ô Û²»®¹§ô ¿²¼ λ¿½¬·ª» б©»®º±´´±©·²¹ ¿³±«²¬ °»® µ·´±©¿¬¬ ±º ´±¿¼ ·¦» «»¼ º±® ¬¸» ݸ¿®¹»ô °´« ¿°°®±°®·¿¬» Ó»¬»®·²¹ ¿²¼ ¼»¬»®³·²¿¬·±² ±º ¬¸» Þ¿·½ ݸ¿®¹» ¾·´´»¼ ·² ¬¸» ³±²¬¸å Ü»´·ª»®§ ¿¼¶«¬³»²¬ò ¿²¼ ©¸»®» «½¸ ¼»´·ª»®·» ¿®» ³»¬»®»¼ ¿¬ ¬¸» ¼»´·ª»®§ ª±´¬¿¹»ô ¬¸» º±´´±©·²¹ ¸·¹¸ ª±´¬¿¹» ½¸¿®¹» ¸¿´´ ¾» Þ¿·½ ݸ¿®¹»æ л® ³±²¬¸¿¼¼»¼ò ïôçïéòéè ͬ¿²¼¿®¼ Í»®ª·½»Î»¼«½¬·±²Ø·¹¸ ʱ´¬¿¹» Ü»³¿²¼ ݸ¿®¹»æ ʱ´¬¿¹» ݸ¿®¹» Ú±® »¿½¸ µ·´±©¿¬¬ ±º Þ·´´·²¹ Ü»³¿²¼òЮ·³¿®§ ª±´¬¿¹» ±ºïë ½»²¬üíëòðð íòîîëðïï µÊ ±® ¹®»¿¬»®°»® µÉ°»® ³±²¬¸ Ì®¿²³··±²îé ½»²¬üíìðòðð Û²»®¹§ ݸ¿®¹»æ°»® µÉ¸ª±´¬¿¹» ±º êð µÊ°»® µÉ°»® ³±²¬¸ íòéèì±® ¹®»¿¬»® ®¿¬» ¸±©² ¿ ½»²¬ Ó·²·³«³ ݸ¿®¹»æ ɸ»² ¿ ²»© ¼»´·ª»®§ô ±® ¿² ·²½®»¿» ·² ½¿°¿½·¬§ º±® ¿² ̸» ³±²¬¸´§ ³·²·³«³ ½¸¿®¹» ¸¿´´ ¾» ¬¸» ¾¿·½»¨·¬·²¹ ¼»´·ª»®§ ·ô ¿¬ ¬¸» ®»¯«»¬ ±º ¬¸» ½«¬±³»®ô ½¸¿®¹»ò ß ¸·¹¸»® ³·²·³«³ ½¸¿®¹» ³¿§ ¾» ³¿¼» ¾§ ³»¿² ±º Ý·¬§ó±©²»¼ ¬®¿²º±®³»® ¿¬ ¿ ª±´¬¿¹» ®»¯«·®»¼ ¾§ ½±²¬®¿½¬ò±¬¸»® ¬¸¿² ¿ ´±½¿´´§ ¬¿²¼¿®¼ ¼·¬®·¾«¬·±² ª±´¬¿¹»ô ¬¸» ¿¾±ª» ½¸¿®¹» º±® ¿²§ ³±²¬¸ ©·´´ ¾» ·²½®»¿»¼ ¾§ ïë Ѳóл¿µ л®·±¼ Þ·´´·²¹ Ü»³¿²¼æ½»²¬ °»® µ·´±©¿¬¬ ±º ´±¿¼ ·¦» «»¼ º±® ¬¸» ¼»¬»®³·²¿¬·±² ̸» ±² °»¿µ °»®·±¼ µ·´±©¿¬¬ ¸±©² ¾§ ±® ±º ¬¸» Þ¿·½ ݸ¿®¹» ¾·´´»¼ ·² ¬¸» ³±²¬¸ò ½±³°«¬»¼ º®±³ ¬¸» ®»¿¼·²¹ ±º Ý·¬§ù ¼»³¿²¼ ³»¬»® º±® ¬¸» íðó³·²«¬» °»®·±¼ ±º ½«¬±³»®ù̸» Ý·¬§ ®»¬¿·² ¬¸» ®·¹¸¬ ¬± ½¸¿²¹» ·¬ ´·²» ª±´¬¿¹» ±® ¹®»¿¬»¬ «» ¼«®·²¹ ¬¸» ³±²¬¸ô ¼»¬»®³·²»¼ ¬± ½´¿·º·½¿¬·±² ¬¸»®»±º ¿¬ ¿²§ ¬·³» ¿²¼ ¿º¬»® ®»¿±²¿¾´» ¬¸» ²»¿®»¬ µ·´±©¿¬¬ò¿¼ª¿²½» ²±¬·½» ¬± ¿²§ ½«¬±³»® ¿ºº»½¬»¼ ¾§ «½¸ ½¸¿²¹»ô «½¸ ½«¬±³»® ¬¸»² ¸¿ ¬¸» ±°¬·±² ¬± ¬¿µ» »®ª·½» ¿¬ ¬¸» λ¿½¬·ª» б©»® ݸ¿®¹»æ ²»© ´·²» ª±´¬¿¹» ±® ¬± ¿½½»°¬ »®ª·½» ¬¸®±«¹¸ ¬®¿²º±®³»® ̸» ³¿¨·³«³ íðó³·²«¬» ®»¿½¬·ª» ¼»³¿²¼ º±® ¬± ¾» «°°´·»¼ ¾§ Ý·¬§ «¾¶»½¬ ¬± ¬¸» ª±´¬¿¹» ¿¼¶«¬³»²¬ ¬¸» ³±²¬¸ ·² µ·´±ª±´¬ó¿³°»®» ·² »¨½» ±º ¿¾±ª»ò Ûºº»½¬·ª» Ö«´§ ðïô îððí Û´»½óͽ¸ ëð Ô¿®¹» ¹±ª¬ Ë»® ðéóðïóðí º·²¿´ò¨´ëñîñðí Ý×ÌÇ ÑÚ ßÍØÔßÒÜô ÑÎÛÙÑÒÍÝØÛÜËÔÛ ëð ÙÛÒÛÎßÔ ÍÛÎÊ×ÝÛ ó ÙÑÊÛÎÒÓÛÒÌßÔ ÔßÎÙÛ ÍÛÎÊ×ÝÛ ïôððð ÌÑ íôððð Õ×ÔÑÉßÌÌÍп¹» î ÝÑÒÌÎßÝÌæÍ°»½·¿´ ݱ²¼·¬·±²æ ̸» Ý·¬§ ³¿§ ®»¯«·®» ¬¸» ½«¬±³»® ¬± ·¹² ¿Ý«¬±³»® ¸¿´´ ²±¬ ®»»´´ »´»½¬®·½ »®ª·½» ©®·¬¬»² ½±²¬®¿½¬ ©¸·½¸ ¸¿´´ ¸¿ª» ¿ ¬»®³ ±º ²±¬®»½»·ª»¼ º®±³ ¬¸» Ý·¬§ «²¼»® °®±ª··±² ±º ¬¸· ´» ¬¸¿² ±²» øï÷ §»¿®ò½¸»¼«´» ¬± ¿²§ °»®±²ô »¨½»°¬ ¾§ ©®·¬¬»² °»®³··±² ±º ¬¸» Ý·¬§ô ¿²¼ ©¸»®» ½«¬±³»® ײ¬¿´´¿¬·±² ¿²¼ Ó¿·²¬»²¿²½»æ ³»¬»® ¿²¼ ¾·´´ ¿²§ ±º ¸·ñ¸»® ¬»²¿²¬ ¿¬ ̸» Ý·¬§ ³¿§ ½±²¬®¿½¬ º±® ¬¸» ·²¬¿´´¿¬·±² ¿²¼ ³¿·²¬»²¿²½»Ý·¬§ù ®»¹«´¿® ®¿¬» º±® ¬¸» ¬§°» ±º »®ª·½» ±º »´»½¬®·½ º¿½·´·¬·» ±² ¬¸» ½«¬±³»®ù °®»³·»ò ̸» ©¸·½¸ «½¸ ¬»²¿²¬ ³¿§ ¿½¬«¿´´§ ®»½»·ª»ò ¬»®³ ±º «½¸ »®ª·½» ¸¿´´ ¾» »¬ º±®¬¸ ·² ¿ ½±²¬®¿½¬ô ¬¸» º±®³ ¿²¼ ¬»®³ ±º ©¸·½¸ ¸¿´´ ¾» ¿°°®±ª»¼ ¾§ ¬¸» Ý·¬§ ݱ«²½·´ò Ó±²¬¸´§ ½¸¿®¹» ³¿¼» ¾§ ¬¸» Ý·¬§ ¸¿´´ ¾» ¿°°®±ª»¼ ¾§ ¬¸» Ý·¬§ ݱ«²½·´ò Ó±²¬¸´§ ½¸¿®¹» ³¿¼» ¾§ ¬¸» Ý·¬§ ¿ ®»·³¾«®»³»²¬ º±® ±©²»®¸·°ô ±°»®¿¬·±² ¿²¼ ³¿·²¬»²¿²½» ½±¬ ¿°°´·½¿¾´» ¬± º¿½·´·¬·» ·²¬¿´´»¼ ¬± º«®²·¸ »®ª·½» «²¼»® ®«´» ±º ¬¸» ͽ¸»¼«´» ¸¿´´ ¾» ¼»¬»®³·²»¼ ·² ¿½½±®¼¿²½» ©·¬¸ ¬¸» º±´´±©·²¹æ øï÷ Ñ°»®¿¬·²¹ ݸ¿®¹» óó ¸¿´´ ¾» »¯«¿´ ¬± îñí ±º ïû °»® ³±²¬¸ ±º ¬¸» ·²¬¿´´»¼ ½±¬ ±º º¿½·´·¬·» °¿·¼ º±® ¾§ ¬¸» ½«¬±³»®ò øî÷ Ú¿½·´·¬·» ݸ¿®¹» óó ¸¿´´ ¾» »¯«¿´ ¬± ï ïñîû °»® ³±²¬¸ ±º ¬¸» ·²¬¿´´»¼ ½±¬ ±º ¬¸» º¿½·´·¬·» ¿ ¼»¬»®³·²»¼ ¾§ ¬¸» Ý·¬§ º±® º¿½·´·¬·» ·²¬¿´´»¼ ¿¬ Ý·¬§ù »¨°»²»ò øí÷ Ì®¿²º±®³»® Ý¿°¿½·¬§ ݸ¿®¹» óó ¸¿´´ ¾» »¯«¿´ ¬± ïë ø½»²¬÷ °»® ²¿³»°´¿¬» µª¿ò ùÍÇÎÙÓÐ ùÍÏÏÇÎÓÙÛÈÓÍÎ TITLE:A resolution increasing water rates. DEPT:Finance Department DATE:May 6, 2003 SUBMITTED BY:Lee Tuneberg, Finance Director APPROVED BY:Gino Grimaldi, City Administrator Synopsis: The proposed budget for FY 2003-04 calls for an increase of water rates in keeping with the rate model and projected operational costs. In 2002 staff used a consultant to do considerable rate analysis identifying the need for a significant increase or several smaller ones timed with annual reviews of revenues compared to costs. This is the second of possibly three annual 5% increases. The increase would be effective for bills prepared on or after July 1, 2003 beginning with Cycle one. Recommendation: Staff recommends approval of the attached resolution. Fiscal Impact: The resolution represents a $187,700 increase in revenues in the Water Fund. It balances current year revenues and operational needs within the approved FY 2003-2004 budget, providing adequate coverage to meet bond covenants. The increase for rates will also generate an additional $9,385 in franchise revenue which represents right-of-way payments to the General Fund. Background: The city last increased water rates 5% effective on bills in July 2002. Since that time Water Fund operational costs have increased 14.5% whereas revenue growth has been approximately 13%. Cost increases are primarily related to personnel, power, chemicals and supplies. Actual revenues and expenses vary with temperature, rainfall and customer use sometimes compromising financial forecasts and potentially jeopardizing fund balances and bond coverage compliance. A revenue reserve account is employed to minimize such variations but an increase is necessary to adequately fund years where revenues fall short of expenses. The average residential water bill using 1000 cubic feet in a month will increase $1.06 from $21.17 to $22.23 with this change. A commercial account using 3500 cubic feet in a month will increase $2.97 from $59.46 to $62.43. The intent is to raise rates July 2003 and continue to monitor the balance of operational revenue to operational expense, adjusting where necessary to provide adequate revenue to meet expenses and comply with bond coverage requirements. Additionally, Talent Irrigation District instituted $65/lot plus $45/acre administrative fees in 2001 that have not been passed through to our customers or included within the city rates. Increasing the TID unmetered charge from $58.43 to $75.00 will cover our maintenance and repair costs and get us closer to an appropriate rate. Even with this increase the user of TID water receives irrigation water at a very good price. RESOLUTION NO. 2003- _____ A RESOLUTION REVISING RATES FOR WATER SERVICE PURSUANT TO ASHLAND MUNICIPAL CODE SECTION 14.04.030 AND REPEALING RESOLUTION 2002- 08. THE CITY OF ASHLAND RESOLVES AS FOLLOWS: SECTION 1. The water rate charges and rates as shown on the water rate schedule attached as Exhibit “A” shall be effective with Cycle one billings prepared on or after July 1, 2003. SECTION 2. One copy of this resolution shall be maintained in the Office of the City Recorder. SECTION 3. Classification of the fee. The fees specified in Section 1 and Section 2 of this resolution is classified as not subject to the limits of Section 11b of Article XI of the Oregon Constitution (Ballot Measure 5). SECTION 4. Resolution 2002-08 is repealed. This resolution was read by title only in accordance with Ashland Municipal Code th §2.04.090 duly PASSED and ADOPTED this 6 day of May, 2003. _____________________________ Barbara Christensen, City Recorder th SIGNED and APPROVED this 6 day of May, 2003. ____________________________ Alan W. DeBoer, Mayor Reviewed as to form: ____________________________ Paul Nolte, City Attorney 1- Resolution form - Water rates 2003.doc G:\legal\PAUL\FORMS\resolution form.wpd CITY OF ASHLAND, OREGON EXHIBIT “A” WATER RATE SCHEDULE RESOLUTION NO. 2003- ADOPTED MAY 6, 2003 EFFECTIVE DATE JULY 1, 2003 METERED SERVICE All water service provided by the City of Ashland will be in accordance with Chapter 14.04 of the Ashland Municipal Code. 1. WATER RATES WITHIN THE CITY LIMITS A. MONTHLY SERVICE CHARGE: The basic service charge applies to all metered water services and does not include any water consumption. OLDNEW 0.75Inch Meter$ 9.06/month$ 9.51/month 1Inch Meter$ 18.12/month$19.03/month 1.5Inch Meter$ 25.83/month$ 27.12/month 2Inch Meter$ 34.02/month$ 35.72/month 3Inch Meter$ 71.13/month$ 74.69/month 4Inch Meter$108.76/month$114.20/month 6Inch Meter$203.93/month$214.13/month 8Inch Meter$339.89/month$356.88/month B. WATER QUANTITY CHARGE: All customers will be charged the following rates per cubic feet of water used. Single Family Residential Consumption OLDNEW 0 to 300 cf per month$1.05/ccf$1.10/ccf 301 to 1000 cf per month$1.28/ccf$1.34/ccf 1001 to 2500 cf per month$1.67/ccf$1.75/ccf Over 2500 cf per month$2.12/ccf$2.23/ccf Multi-Family Residential Consumption OLDNEW 0 to 300 cf per month per unit$1.05/ccf$1.10/ccf 301 to 1000 cf per month per unit$1.28/ccf$1.34/ccf 1001 to 2500 cf per month per unit$1.67/ccf$1.75/ccf Over 2500 cf per month per unit$2.12/ccf$2.23/ccf EXHIBIT A - PAGE 1 - Effective July 1, 2003 Non-Residential Consumption OLDNEW 0 to 50,000 cf per month$1.44/ccf$1.51/ccf Over 50,000 cf per month$1.49/ccf$1.56/ccf C. TID IRRIGATION WATER RATES: Unmetered Service$58.43/acre or portion of an acre - OLD $75.00/acre or portion of an acre - NEW Metered Service Base Service ChargeSame as “A” above Water Consumption$0.23/ccf - OLD $0.24/ccf - NEW D. BULK WATER RATE: For water provided on a temporary basis through a bulk meter on a fire hydrant, the following charges apply:OLD NEW Deposit*$781.00$820.00 Basic Fee$ 99.00/installation$104.00 Cost of WaterSame as Commercial. *Deposit is refundable less basic fee, cost of water, and any damage to the city meter, valve, wrench, and/or hydrant. E. FIRE PROTECTION SERVICE WATER RATE: This rate shall apply to all fire protection services or fire guards. The basic service charge will be equal to the minimum basic service charge. Water will be billed at commercial rates. 2. RATES OUTSIDE THE CITY LIMITS All rates and charges for water service provided outside the city limits will be 1.5 times the rates for water service provided within the city limits. EXHIBIT A - PAGE 2 - Effective July 1, 2003 ùÍÇÎÙÓÐ ùÍÏÏÇÎÓÙÛÈÓÍÎ TITLE:Resolution Authorizing the Issuance of Water Revenue Bonds and a Master Water Revenue Bond Declaration DEPT:Finance Department DATE:May 6, 2003 SUBMITTED BY:Lee Tuneberg, Finance Director APPROVED BY:Gino Grimaldi, City Administrator Synopsis: Attached is a resolution authorizing staff to take the necessary and final steps to issue Water Revenue Bonds for capital projects and refunding the 1994 bonds. This is a follow-up to Resolution 2003-04 approved by Council on February 18, 2003. Attached to the resolution is a Master Water Revenue Bond Declaration that authorizes the Finance Director to make the necessary and appropriate decisions (within the guidelines established by Council) during the bond sale for an effective transaction. Recommendation: Staff recommends approval of this resolution. Fiscal Impact: This is consistent with the 2002-2003 budget and past practices in financing capital projects except that the City will not be paying a third party trustee to authorize payments. Instead, the City will work directly with the paying agent thus saving hundreds of dollars each year. Background: The listing of projects included in the Capital Improvement Program approved as part of the FY 2002- 2003 budget process identified certain water infrastructure projects deemed necessary and appropriate to meet public need. Such projects routinely utilize multiple funding sources for the work including System Development Charges, Local Improvement Districts proceeds and borrowings paid over the life of the loan(s) with water rate revenues. Approved projects requiring partial funding through bond sale with the debt service paid by rates are: 1.New Fire Flow Distribution Reservoir ($2.3 million, $1.6 million form bonds) 2.Transmission Line from Reeder to the Plant ($1.2 million, $734,000 from bonds) 3.Main Supply Line from the Plant to Crowson Reservoir, ($1.1 million, $541,000 from bonds) Note: The amounts shown are the most current estimates for project costs. These estimates translate into a bond sale of approximately $2.9 million for projects. The resolution asks for a not to exceed amount of $3.5 million allowing issue costs and reserve requirements to be included in the sale. We estimate an average interest rate of 4.2% on the new issue of 20 year bonds. The potential for refunding the 1994 Water Revenue Bonds is high with a net savings to the city of $188,000 over the remaining life of the bonds replacing the current 6.3% rate with a 3.6% borrowing. th The calendar tentatively calls for competitive bids to be opened May 28 with a June 12 closing date. RESOLUTION NO. 2003-_______ A RESOLUTION OF CITY OF ASHLAND, JACKSON COUNTY, OREGON, AUTHORIZING THE ISSUANCE OF WATER REVENUE BONDS AND A MASTER WATER REVENUE BOND DECLARATION. BE IT RESOLVED by the City Council (the “Council”) of the City of Ashland (the “City”) that: Section 1. Findings The Council finds as follows: 1.1 The City adopted Resolution No. 2003-04, authorizing the City to issue up to $3,500,000 of revenue bonds under the Uniform Revenue Bond Act to finance improvements, property acquisition and other public purposes related to the water system, including a transmission line, a distribution line, a fire flow distribution, a reservoir, and a water treatment plant and to pay all cost incidental thereto (the “Projects”). The City published notice as required by law. More than 60 days have passed since that notice was published, and no petitions were filed to refer that resolution. The City is now authorized to issue the bonds described in that resolution. 1.2 The City now desires to issue revenue bonds to finance the Projects as described in City Resolution No. 2003-04. 1.3 The City adopts this resolution to authorize the issuance of up to $3,500,000 of water revenue bonds pursuant to City Resolution No. 2003-04, and to provide the terms under which future parity obligations may be issued. 1.4The City previously issued its Water Revenue Bonds, Series 1994 (the “Series 1994 Bonds”). The City may obtain debt service savings by refunding all or a portion of the Series 1994 Bonds. Section 2. Bonds Authorized 2.1The City hereby authorizes the sale and delivery of its Water Revenue Bonds, Series 2003 (the “Series 2003 Bonds”) in accordance with this Resolution and the Master Water Revenue Bond Declaration authorized by Section 2.3(v) of this Resolution and attached (the “Master Declaration”) to finance the Projects and refund all or any portion of the Series 1994 Bonds. The aggregate principal amount of the Series 2003 Bonds shall not exceed Three Million Five Hundred Thousand Dollars ($3,500,000), plus an amount sufficient to refund all or any portion of the City’s Series 1994 Bonds. 2.2The Series 2003 Bonds and any obligations issued on a parity with the Series 2003 Bonds shall be special obligations of the City that are payable solely from the revenues of the City’s water system and related amounts that are pledged as provided in the Master Declaration. Page 1 of 3 2.3The Finance Director or the City Administrator or the person designated by the Finance Director or the City Administrator to act on behalf of the City under this Resolution (any of whom is referred to in this resolution as a “City Official”) may, on behalf of the City: (i)Participate in the preparation of, authorize the distribution of, and deem final the preliminary and final official statements and any other disclosure documents for the Series 2003 Bonds. (ii)Establish the final principal amounts, maturity schedules, interest rates, sale prices, redemption terms, payment terms and dates, record dates and other terms for the Series 2003 Bonds, and either publish a notice of sale, receive bids and award the sale of that series to the bidder complying with the notice and offering the most favorable terms to the City, or select one or more underwriters and negotiate the sale of that series with those underwriters. (iii)Undertake to provide continuing disclosure for the Series 2003 Bonds in accordance with Rule 15c2-12 of the United States Securities and Exchange Commission. (iv)Apply for and purchase municipal bond insurance, reserve sureties or other forms of credit enhancements for the Series 2003 Bonds, and enter into related agreements. (v)Finalize the terms of, execute and deliver the Master Declaration, which pledges the sewer system revenues, contains covenants regarding the levels of sewer system fees and charges that the City must impose, describes the terms of the Series 2003 Bonds, and the terms under which future obligations may be issued on a parity with the Series 2003 Bonds. The Master Declaration shall be in substantially the form attached to this Resolution as Exhibit A, but with such changes as the City Official may approve. (vi)Appoint and enter into agreements with escrow agents, paying agents, verification agents and other professionals and service providers. (vii)Take any action desirable to call, redeem and pay any bonds that are refunded with the Series 2003 Bonds. (viii)Enter into covenants to maintain the excludability of Series 2003 Bond interest from gross income under the Internal Revenue Code of 1986, as amended (the “Code”). (ix)Designate the Series 2003 Bonds as qualified tax-exempt obligations pursuant to Section 265(b)(3) of the Code. (x)Execute any documents and take any other action in connection with the Page 2 of 3 Series 2003 Bonds which the City Official finds will be advantageous to the City. This resolution was read by title only in accordance with Ashland Municipal Code §2.04.090 duly PASSED and ADOPTED this 6th day of May, 2003. ______________________________, City Recorder Barbara Christensen SIGNED and APPROVED this 6th day of May, 2003. ______________________________, Mayor Alan W. DeBoer Reviewed as to form: ______________________________, City Attorney Paul Nolte Page 3 of 3 Exhibit A Master Water Revenue Bond Declaration City of Ashland Jackson County, Oregon Water Revenue Bonds Series 2003 Executed by the ____ of the City of Ashland, Oregon As of this ___ day of ______, 2003 Table of contents Section 1.Findings.1 Section 2.Definitions.1 Section 3.Deposit, Pledge and Use of Revenues.5 Section 4.Funds and Accounts.5 Section 5.Rate Covenant.7 Section 6.General Covenants.7 Section 7.Parity Obligations.9 Section 8.Subordinate Obligations.10 Section 9.Separate Utility System11 Section 10.Default and Remedies on Default.11 Section 11.No Remedy Exclusive.11 Section 12.Trustee Duties Upon Default.12 Section 13.Amendment of Declaration.13 Section 14.Defeasance.13 Section 15.The Series 2003 Bonds14 Appendix A Bond Form - Book-Entry-Only Table of Contents to Bond Resolution MWRBD ASTER ATER EVENUE ONDECLARATION THIS MASTER WATER REVENUE BOND DECLARATION is executed as of _______ by the _________ of the City of Ashland, Oregon pursuant to authority granted to the __ by City Resolution No. _____ to establish the terms under which the City’s Water Revenue Bonds, Series 2003 and future water revenue bonds may be issued. Section 1.Findings. The City finds: 1.1.The City adopted Resolution No. 2003-04 authorizing the City to issue up to $3,500,000 of revenue bonds under the Uniform Revenue Bond Act (the “Act”). The City published notice as required by the Act. More than 60 days have passed since that notice was published, and no petitions were filed to refer that resolution. The City is now authorized to issue bonds described in that resolution. 1.2.The City adopted Resolution No. _____ on ______, 2003, authorizing this declaration and the issuance of up to $3,500,000 of revenue bonds pursuant to Resolution No. 2003-04, plus an amount necessary to refund the City’s outstanding Water Revenue Bonds, Series 1994. This declaration establishes the terms under which the City may issue water revenue bonds and also describes the terms under which the City’s Water Revenue Bonds, Series 2003 are issued. Section 2.Definitions. As used in this Master Declaration, the following words shall have the following meanings: “Annual Debt Service” means the amount required in a Fiscal Year to pay scheduled debt service on Outstanding Bonds, calculated as follows: (i) Interest which is to be paid from proceeds of Bonds shall be subtracted. (ii) City Payments to be made in the Fiscal Year under a Parity Exchange Agreement shall increase Annual Debt Service, and Reciprocal Payments to be received in the Fiscal Year under a Parity Exchange Agreement shall reduce Annual Debt Service. (iii) Bonds which are subject to scheduled, noncontingent redemption or tender shall be deemed to mature on the dates and in the amounts which are subject to mandatory redemption or tender, and only the amount scheduled to be Outstanding on the final maturity date shall be treated as maturing on that date. (iv) Bonds which are subject to contingent redemption or tender shall be treated as maturing on their stated maturity dates. “Audit” means the audit required by ORS 297.425. “Auditor” means a person authorized by the State Council of Accountancy to conduct municipal audits pursuant to ORS 297.670. “Bond Purchaser” means the initial purchaser of a Series of Bonds. Page 1 – Master Water Revenue Bond Declaration “Bonds” means the Series 2003 Bonds and any Parity Obligations issued pursuant to the Section 7 of this Master Declaration. “Certificate of City” or “City Certificate” means a certificate executed on behalf of the City by a City Official. “City” means the City of Ashland, Jackson County, Oregon. “City Official” means the Finance Director or the City Administrator or the person designated by the Finance Director or the City Administrator to act on behalf of the City under this Master Declaration. “City Payment” means any scheduled payment required to be made by or on behalf of the City under a Exchange Agreement which is either fixed in amount or is determined according to a formula set forth in the Exchange Agreement. “Code” means the Internal Revenue Code of 1986, rules and regulations promulgated thereunder and amendments thereto. “Default” or “Event of Default” means any event specified in Section 10.1 of this Master Declaration. “Exchange Agreement” means a swap, cap, floor, collar or similar transaction which includes a written contract between the City and a Reciprocal Payorunder which the City is obligated to make one or more of the City Payments in exchange for the Reciprocal Payor's obligation to pay one or more Reciprocal Payments, and which provides that: (a) the Reciprocal Payments are to be deposited directly into the Revenue Debt Account; and, (b) the City is not required to fulfill its obligations under the contract if: (i) the Reciprocal Payor fails to make any Reciprocal Payment; or (ii) the Reciprocal Payor fails to comply with its financial status covenants. “Fiscal Year” means the period beginning on July 1 of each year and ending on the next succeeding June 30, or as otherwise defined by Oregon Law. “Gross Revenues” means all fees and charges resulting from operation of the Water System, including systems development charges, revenues from product sales, and any interest earnings and other revenues required to be placed in the Water Fund under this Master Declaration; however, Gross Revenues does not include: (i) any payments of improvement assessments levied against benefited properties; (ii) the proceeds of any grants; (iii) the proceeds of any borrowing for capital improvements; (iv) the proceeds of any liability or other insurance; (v) the proceeds of any casualty insurance which the City intends to utilize for repair or replacement of the Water System; (vi) sales of assets pursuant to Section 6.7 of this Master Declaration; (vii) meter and service installation charges; and Page 2 – Master Water Revenue Bond Declaration (viii) ad valorem taxes received by the City which are, at any time, pledged, designated or dedicated to other debt or obligations of the City. “Master Declaration” means this Master Water Revenue Bond Declaration. “Maximum Annual Debt Service” means the greatest Annual Debt Service, calculated on all Bonds which are Outstanding on the date of calculation. “Net Operating Revenues” means the Gross Revenues less the Operating Expenses, plus any withdrawals from the Rate Stabilization Account and minus any deposits to the Rate Stabilization Account. “Operating Expenses” means all expenses incurred for operation, maintenance and repair of the Water System, including but not limited to administrative expenses, financial and auditing expenses, insurance premiums, claims (to the extent moneys are not available from proceeds of insurance), taxes, legal and engineering expenses relating to operation and maintenance, payments and reserves for pension, retirement, health, hospitalization, and sick leave benefits, and any other similar expenses to be paid to the extent properly and directly attributable to operations of the Water System. Operating Expenses do not include: (i) any rebates paid from Gross Revenues under Section 148 of the Code. (ii) payments for the settlement of litigation and payments to any liability reserve fund; (iii) depreciation or amortization of property, values, or losses, and all amounts treated for accounting purposes as payments for capital expenditures; (iv) payments of debt service (including amounts treated for accounting purposes as debt service payments); and (v) capital transfers and capital outlays including without limitation transfers to capital construction accounts. “ORS” means the Oregon Revised Statutes. “Outstanding” refers to all Bonds except Bonds that have been paid or defeased pursuant to Section 14 of this Master Declaration. “Owner” means a registered owner of a Bond. “Parity Exchange Agreement” means an Exchange Agreement which qualifies as a Parity Obligation in accordance with Section 7. “Parity Obligations” means any revenue bonds or other obligations of the City which are issued in compliance with the provisions of Section 7 of this Master Declaration, and includes Parity Exchange Agreement. “Permitted Investments” means those investments authorized by Oregon Law for the City. “Rate Stabilization Account” means the Rate Stabilization Account established pursuant to Section 4.3 of this Master Declaration. Page 3 – Master Water Revenue Bond Declaration “Rating Agency” means Fitch, Moody's, S&P, or any other nationally recognized financial rating Agency which has rated Outstanding Bonds or a Credit Facility at the request of the City. “Reciprocal Payment” means scheduled payment to be made to, or for the benefit of, the City under a Exchange Agreement by or on behalf of the Reciprocal Payor, which is either fixed in amount or is determined according to a formula set forth in the Exchange Agreement. “Reciprocal Payor” means a party to an Exchange Agreement (other than the City) that is obligated to make one or more Reciprocal Payments thereunder, and which has at least an investment grade rating from a Rating Agency for its obligations under the Exchange Agreement. “Record Date” means the fifteenth (15th) day of the month preceding each interest payment date. “Required Reserve” means an amount equal to the Maximum Annual Debt Service on all Outstanding Bonds or the amount described in the next sentence. If at the time of issuance of a Series of Bonds, the amounts required to be added to the Reserve Account to make the balance in the Reserve Account equal to Maximum Annual Debt Service on all Outstanding Bonds exceeds the Tax Maximum calculated with respect to such Series of Bonds, then the Reserve Requirement shall mean the Reserve Requirement in effect immediately prior to the issuance of that Series of Bonds, plus the Tax Maximum calculated with respect to that Series of Bonds. “Reserve Account” means the Reserve Account established pursuant to Section 4 of this Master Declaration. “Reserve Equivalent” means an insurance policy or letter of credit issued by a municipal bond insurance company or a commercial bank having a credit rating (when the policy or letter of credit is issued) of at least Aa or AA as determined by Moody's Investors Services or Standard & Poor's Corporation, or their successors, in which the insurance company or commercial bank agrees to unconditionally provide the City with funds in an amount which, when combined with available bond proceeds or other available funds, that have been previously deposited into the Reserve Account, equals the Required Reserve. “Revenue Debt Account” means the Revenue Debt Account to be created and maintained in the Water Fund pursuant to Section 4 hereof to hold funds to be used to pay Bond principal and interest and premiums if any. “Separate Utility System” means any utility property which is declared by the City Council to constitute a system which is distinct from the Water System in accordance with Section 9. “Series” or “Series of Bonds” refers to all Bonds which are issued at one time, pursuant to a single resolution, ordinance or other authorizing document of the City, regardless of variations in maturity, interest rate or other provisions, unless the documents authorizing the Bonds specify that the Bonds are part of separate Series. “Series 2003 Bonds” means the City’s Water Revenue Bonds, Series 2003, that are described in Section 15 of this Master Declaration. Page 4 – Master Water Revenue Bond Declaration “Series 2003 Project” means improvements, property acquisition and other public purposes related to the Water System, including a transmission line, a distribution line, fire flow distribution, a reservoir, and a water treatment plant, and to pay all costs incidental thereto. “Subordinate Obligations” means any obligations of the City payable from Net Operating Revenues which comply with the provisions of Section 8 of this Master Declaration. “Tax Maximum” means, for any Series of Bonds, the lesser of: Maximum Annual Debt Service on the Series; 125% of average amount of principal, interest and premium, if any, required to be paid on that Series during all Fiscal Years in which that Series will be Outstanding, calculated as of the date of issuance of that Series; or, 10% of the proceeds of such Series, as “proceeds” is defined for purposes of Section 148(d) of the Code. “Water Fund” means the collection of funds and accounts used by the City to hold the Gross Revenues and the proceeds of the Bonds, to be maintained pursuant to Section 3.1 of this Master Declaration. “Water System” or “System” means all real and personal property now or hereafter owned, operated, used, or maintained by the City for water treatment, distribution and transmission within and without the corporate limits of the City. Section 3.Deposit, Pledge and Use of Revenues. 3.1.All Gross Revenues shall be deposited to or maintained in the Water Fund that the City has created. The City hereby pledges the Net Operating Revenues to the payment of principal and interest on all Bonds. As long as any Bonds remain issued and outstanding, moneys in the Water Fund shall be used solely to pay the following amounts in the following order: (A)To pay Operating Expenses, (B)To credit the Revenue Debt Account to pay Bond principal and interest, (C)To credit the Reserve Account to eliminate any deficiency in the Required Reserve. (D)To credit the Rate Stabilization Account, and (E) For any other lawful purpose, but only if all deposits and payments having a higher priority under this Section have been made. Section 4.Funds and Accounts. 4.1.The City shall deposit into the Revenue Debt Account Net Operating Revenues, or monies in the Reserve Account, sufficient to make payments of Bond principal and interest as provided in this Section 4. (A)The City hereby covenants with the owners of the Bonds that it will, so long as any Bonds remain outstanding, make the following deposits from the Net Operating Revenues into the Revenue Debt Account in the Water Fund: Page 5 – Master Water Revenue Bond Declaration (1)Not less than five business days prior to a Bond interest payment date, the City will deposit into the Revenue Debt Account an amount equal to the amount necessary to pay Bond interest. Prepayment of deposits will fulfill this requirement. Notwithstanding the foregoing, the City shall deposit into the Revenue Debt Account from the Net Operating Revenues an amount sufficient to permit all interest due on the Bonds to be paid on the date it is due. (2)Not less than five business days prior to a Bond principal payment date, the City will deposit into the Revenue Debt Account an amount equal to the amount necessary to pay Bond principal. Prepayment of deposits will fulfill this requirement. Notwithstanding the foregoing, the City will deposit into the Revenue Debt Account from the Net Operating Revenues an amount sufficient to permit all principal due on the Bonds to be paid on the date it is due. 4.2.The City shall maintain the Reserve Account in the Water Fund. (A)The City shall maintain a balance in the Reserve Account at least equal to the Required Reserve. Moneys required to be maintained in the Reserve Account will be used only to pay Bond principal and interest and redemption charges, if any, and only in the event that the Net Operating Revenues and moneys in the Revenue Debt Account are insufficient to pay Bond principal and interest when due. (B)The City covenants with the owners of the Bonds that it will, on each Bond payment date so long as any Bonds remain outstanding, deposit from the Net Operating Revenues into the Reserve Account an amount such that the balance in the Reserve Account will at least equal the Required Reserve. In the event the amount on deposit in the Reserve Account is less than the Required Reserve, the deficiency shall be eliminated from payments for such purpose available from the Water Fund, in proportionate monthly amounts so that the Required Reserve is achieved within twelve months from the date of any deficiency. In the event the amount on deposit in the Reserve Account is more than the Required Reserve, any such excess may be transferred to the Revenue Debt Account. (C)The balance in the Reserve Account shall include, in addition to cash deposits and bond proceeds, the face amount of any Reserve Equivalents. (D)Moneys in the Reserve Account may be invested only in “Permitted Investments.” If Permitted Investments mature later than one year from the date of purchase, then the City shall prepare and have on file a Certificate with the report required by Section 5.2 of this Master Declaration valuing such Permitted Investments at the lower of cost or market. Deficiencies in the Reserve Account shall be eliminated as provided in Section 4.2(B) of this Master Declaration. 4.3.The City shall maintain the Rate Stabilization Account in the Water Fund. Moneys in the Rate Stabilization Account shall be used solely to make appropriations to the Water Fund as determined from time to time by the City. Deposits to the Rate Stabilization Account for any Fiscal Year reduce Net Operating Revenues for that Fiscal Year, and withdrawals from the Rate Stabilization Account for any Fiscal Year increase Net Revenues for that Fiscal Year. Deposits Page 6 – Master Water Revenue Bond Declaration to and withdrawals from the Rate Stabilization Account shall be made within six months after the end of each Fiscal Year. Section 5.Rate Covenant. 5.1.The City covenants that it will charge rates and fees in connection with the operation of the Water System which, when combined with other Gross Revenues, are adequate to generate: (A) Net Operating Revenues, without regard to transfers to and from the Rate Stabilization Account, in each fiscal year at least equal to 1.00 times the Annual Debt Service for that fiscal year; and, (B)Net Operating Revenues in each fiscal year, including transfers to and from the Rate Stabilization Account, at least equal to 1.25 times the Annual Debt Service for that fiscal year. 5.2.Not later than six months after the end of each fiscal year the City shall prepare a report that demonstrates whether the City has complied with Section 5.1 during that fiscal year. If the report demonstrates that the City has not complied with Section 5.1 during that fiscal year, it shall not constitute an Event of Default if, within thirty days after the report is filed, the City files a certificate of a City Official that specifies the actions that the City has taken and will take within the next ninety (90) days to permit the City to comply with Section 5.1 for the remainder of the Fiscal Year in which the report is filed, and for the succeeding Fiscal Year. Section 6.General Covenants. The City hereby covenants and agrees with the owners of all outstanding Bonds as follows: 6.1.The City shall, to the extent the Net Operating Revenues are sufficient, promptly cause the principal and interest on the Bonds to be paid as they become due. 6.2.The City shall maintain complete books and records relating to the operation of the Water System, and all City funds and accounts in accordance with generally accepted accounting principles, and will cause such books and records to be audited annually at the end of each Fiscal Year, and an audit report prepared by the Auditor and made available for the inspection of Owners. 6.3.The City shall not issue Bonds or other obligations having a claim superior to the claim of the Bonds upon the Net Operating Revenues. 6.4.The City shall promptly deposit into all funds and accounts all sums required to be so deposited. 6.5.The City shall cause the System to be operated at all times in a safe, sound, efficient and economic manner in compliance with all health, safety, environmental laws, regulatory body rules, regulatory body orders and court orders applicable to the City's operation and ownership of the System, and shall cause the System to be maintained, preserved, reconstructed, expanded and kept, with all appurtenances and every part and parcel thereof, in good working order and Page 7 – Master Water Revenue Bond Declaration condition, and shall from time to time to be made, without undue deferral, all necessary and proper repairs, replacements and renewals so that at all times the operation of the System shall be properly and advantageously conducted. The City shall also maintain deposits to funds and accounts that cause the System to be reasonably maintained and renewed. 6.6.The City shall at all times maintain with responsible insurers all such insurance on the System as is customarily maintained with respect to works and properties of like character against accident to, loss of or damage to such works or properties. If any useful part of the System is damaged or destroyed, such part will be restored to use. The money collected from insurance against accident to or destruction of the physical System will be used for repairing or rebuilding the damaged or destroyed System , and to the extent not so applied, will be applied to the payment or redemption of the Bonds on a pro rata basis, and for such purpose paid into the Revenue Debt Account. Any such insurance must be in the form of policies or contracts for insurance with insurers of good standing and shall be payable to the City, or in the form of self-insurance by the City. The City shall establish such fund or funds or reserves as are necessary to provide for its share of any such self-insurance. 6.7.The City will not, nor will it permit others to, sell, mortgage, lease or otherwise dispose of or encumber all or any portion of the Water System except: (A)The City may dispose of all or substantially all of the Water System, only if the City pays all Bonds or defeases them pursuant to Section 14; (B)Except as provided in 6.7(B)(3), the City will not dispose of any part of the Water System in excess of 5% of the value of the Water System in service unless prior to such disposition either: (1)There has been filed with the City a certificate of a Qualified Consultant stating that such disposition will not impair the ability of the City to comply with the rate covenant contained in Section 5 of this Master Declaration; or (2)Provision is made for the payment, redemption or other defeasance of a principal amount of the Bonds equal to the greater of the following amounts: (a)An amount which will be in the same proportion to the net principal amount of the Bonds then Outstanding (defined as the total principal amount of the Bonds then Outstanding less the amount of cash and investments in the Revenue Debt Account) that the Gross Revenues attributable to the part of the Water System sold or disposed of for the 12 preceding months bears to the total Gross Revenues for such period; or (b)An amount which will be in the same proportion to the net principal amount of the Bonds then Outstanding that the book value of the part of the Water System sold or disposed of bears to the book value of the Water System immediately prior to such sale or disposition; (3)The City may dispose of any portion of the Water System that has become unserviceable, inadequate, obsolete, or unfit to be used or no longer necessary for use in the operation of the Water System; Page 8 – Master Water Revenue Bond Declaration (4)If the ownership of all or part of the Water System is transferred from the City through the operation of law, the City shall to the extent authorized by law, reconstruct or replace such transferred portion using any proceeds of the transfer unless the City Council reasonably determines that such reconstruction or replacement is not in the best interest of the City and the Bondowners, in which case any proceeds shall be used for the payment, redemption or defeasance of the Bonds; 6.8.The covenants, representations, and warranties contained in this Master Declaration, the each supplemental declaration executed pursuant to this Master Declaration and any covenants, representations and warranties in the closing documents relating to each Series of Bonds issued pursuant to this Master Declaration shall constitute contracts with the Owners of each such Series of Bonds, and shall be enforceable by them. Section 7.Parity Obligations. 7.1.The City may issue Parity Obligations to provide funds for any purpose relating to the Water System which is authorized by law, but only upon the following conditions: (A)No Default has occurred and is continuing; (B)At the time of the issuance of the Parity Obligations there is no deficiency in the Revenue Debt Account and the Reserve Account; (C)The supplemental declaration authorizing the issuance of the Parity Obligations requires that a deposit be made at closing sufficient to bring the balance in the Reserve Account equal to the Required Reserve for all Outstanding Bonds, including the proposed Parity Obligations. (D)The supplemental declaration authorizing the issuance of the Parity Obligations contains a covenant requiring the City to charge rates and fees projected to generate Net Operating Revenues equal to the amount described in Section 5.1 of this Master Declaration, including the proposed Parity Obligations. (E)Either: (1)the Net Operating Revenues for any 12 consecutive months during the 18 months preceding the date of issuance of the Parity Obligations were not less than 1.25 times the sum of the actual debt service of the Bonds for the immediately preceding 12 months, plus the average annual debt service for the proposed Parity Obligations as certified by the City Official; or (2)the Net Operating Revenues, as projected for the next ensuing three fiscal years and as certified by a qualified engineering, auditing, or other qualified firm (including any rate increases adopted by the Council) are not less than 1.25 times the actual debt service for the ensuing three fiscal year's debt service on all outstanding Bonds plus the average annual debt service on the proposed Parity Obligations. For the purposes of the certificate required by this Section 7(E)(2), Net Revenues may be adjusted in Page 9 – Master Water Revenue Bond Declaration consideration of rate increases that have been adopted by the City and will be legally effective within 12 months of the date of delivery, anticipated increases resulting from growth in customers, and any increase in property, construction, additions, or extensions to the System that is in process at the time of the Certificate or for which the proceeds of the proposed Parity Obligations will be used. 7.2.The City may issue Parity Obligations to refund Outstanding Bonds, not withstanding the requirements of Section 7.1, if the required debt service of the refunding bonds does not exceed the debt service for the refunded bonds payable in any Fiscal Year by not more than $5,000. 7.3.Any supplemental declaration authorizing the issuance of Parity Obligations shall require deposits into the Reserve Account in amounts sufficient to make the balance in the Reserve Account at least equal to the Required Reserve. Notwithstanding any provision herein to the contrary, the deposit required in this Section 7.3 may be made in not more than five (5) substantially equal annual installments, with the final installment due not later than the fifth anniversary of the issuance of the Series of Bonds. If the City elects to fund the portion of the Required Reserve which is allocable to a Series of Bonds in installments, the election of and the schedule for such deposits shall be stated prominently in the proceedings authorizing the Series of Bonds. 7.4.A Exchange Agreement may be a Parity Exchange Agreement and a Parity Obligation if the obligation to make City Payments under the Exchange Agreement qualifies as a Parity Obligation under Section 7, after the Reciprocal Payments under the Exchange Agreement are applied to reduce Annual Debt Service. Any Parity Exchange Agreement shall clearly state that it is a Parity Exchange Agreement and has qualified as a Parity Obligation under Section 7 of this Master Declaration. In addition, the City may replace a Parity Exchange Agreement with another Parity Exchange Agreement without qualifying the replacement Exchange Agreement under Section 7 if the replacement does not increase the Annual Debt Service in any Fiscal Year by more than $5,000. 7.5.All Bonds issued in accordance with this Section 7 shall have a lien on the Net Operating Revenues which is equal to the lien of all then Outstanding Bonds and all Parity Obligations issued in accordance with this Section 7. Section 8.Subordinate Obligations. The City may issue Subordinate Obligations to provide funds for any purpose authorized by law, provided no default has occurred and is continuing. All Subordinate Obligations shall have a lien on the Net Operating Revenues which is subordinate to the lien of the Bonds. In the event of any insolvency or bankruptcy proceedings relative to the City or to its property, the holders of the Bonds shall be entitled to receive payment in full of all principal, premium (if any) and interest thereon (including interest accruing after the commencement of any proceeding) before the holders of the Subordinate Obligations are entitled to receive any payment on account of principal, premium (if any) or principal upon the Subordinate Obligations. Page 10 – Master Water Revenue Bond Declaration Section 9.Separate Utility System The City may declare property which the City owns and is part of the Water System (but has a value of less than five percent of the Water System at the time of the declaration), and property which the City has not yet acquired but would otherwise become part of the Water System, to be part of a Separate Utility System. The City may pay costs of acquiring, operating and maintaining Separate Utility Systems from Net Operating Revenues, but only if there is no deficit in the Revenue Debt Account or the Reserve Account. The City may issue obligations which are secured by the revenues produced by the Separate Utility System, and may pledge the Separate Utility System revenues to pay those obligations. In addition, the City may issue Subordinate Obligations to pay for costs of a Separate Utility System, and may pledge the revenues of the Separate Utility System to pay the Subordinate Obligations. Section 10.Default and Remedies on Default. 10.1.The following shall constitute Events of Default: (A)Failure to pay Bond principal or interest when due; or (B)Failure to perform any other obligation of the City imposed by this Master Declaration or the Bonds, but only if: (1)the failure continues for a period of more than ninety (90) days after demand has been made on the City by the Bondowners or Trustee (as defined below) to remedy the failure; and (2)the City fails to take reasonable steps to remedy the failure within that ninety-day period; or (C)Imposition of a receivership upon, or liquidation of, the Water Fund; or, (D)Written admission by the City that the City is unable to pay its debts as they become due. 10.2.Whenever any Event of Default exists, Owners representing 51 percent or more of Outstanding Bonds, may, without any further demand or notice, exercise any remedy available at law or in equity. However, the Bonds shall not be subject to acceleration. Section 11.No Remedy Exclusive. No remedy herein conferred upon or reserved to Owners is intended to be exclusive and every such remedy shall be cumulative and shall be in addition to every other remedy given under this Master Declaration now or hereafter existing at law or in equity. No delay or omission to exercise any right or power accruing upon any default shall impair any such right or power or shall be construed to be a waiver thereof but any such right or power may be exercised from time to time and as often as may be deemed expedient. In order to entitle Owners to exercise any remedy reserved to it in this Section it shall not be necessary to give any notice, other than such notice as may be required in this Section. Page 11 – Master Water Revenue Bond Declaration Section 12.Trustee Duties Upon Default. 12.1.Whenever any Event of Default exists, Owners representing 51 percent or more of the Outstanding Bonds may appoint a commercial bank with a reported capital and surplus in excess of $50 million as trustee (the “Trustee”) to represent the interests of said Owners. 12.2.Upon the occurrence of an Event of Default the Trustee may pursue any available remedy at law or in equity to enforce the payment of the principal of, premium, if any, and interest on the Outstanding Bonds, and to enforce any rights of the Trustee under or with respect to the Master Declaration. However, the Bonds shall not be subject to acceleration. 12.3.In addition, upon the occurrence of an Event of Default, and upon the filing of a suit or other commencement of judicial proceedings to enforce the rights of the Trustee and of the Owners under the Master Declaration, the Trustee will be entitled, as a matter of right, to the appointment of a receiver or receivers of the Gross Revenues and other amounts pledged under the Master Declaration, pending such proceedings, with such powers as the court making such appointment may confer. 12.4.If an Event of Default has occurred and be continuing and if requested so to do by the Owners of at least 25% in aggregate principal amount of Outstanding Bonds and indemnified as provided in the Master Declaration, Trustee will be obligated to exercise such one or more of the rights and powers conferred by this Master Declaration, as the Trustee, being advised by counsel, deems most expedient in the interest of the Owners. 12.5.No Owner of any Bond has the right to institute any suit, action or proceeding at law or in equity, for any remedy under this Master Declaration, unless: (A)such Owner has previously given to the Trustee written notice of the occurrence of an Event of Default; (B)the Owners of a majority in aggregate principal amount of all the Bonds then outstanding have requested the Trustee in writing to exercise its powers under this Master Declaration; (C)said Owners have tendered to the Trustee indemnity reasonably acceptable to the Trustee against the costs, expenses and liabilities to be incurred in compliance with such request; and (D)the Trustee has refused or failed to comply with such request for a period of 60 days after such written request has been received by the Trustee and said tender of indemnity is made to the Trustee. 12.6.A waiver of any Event of Default by any Owner will not affect any subsequent default or impair any rights or remedies on the subsequent default. No delay or omission of any Owner of any of the Bonds to exercise any right or power occurring upon any Event of Default will impair any such right to power or be construed to be a waiver of any such Event of Default. Page 12 – Master Water Revenue Bond Declaration 12.7.Pursuant to the Master Declaration, if the Trustee takes any judicial or other action in an Event of Default the Trustee has full power in its direction with respect to any continuance, discontinuance, withdrawal, compromise, settlement or other disposition of such action, unless opposed by the written request of the Owners of a majority in aggregate principal amount of the Outstanding Bonds. The Trustee is appointed attorney-in-fact of the Owners for the purpose of bringing any suit action or proceedings in an Event of Default. Section 13.Amendment of Declaration. 13.1.This Master Declaration may be amended without the consent of any Owners for any one or more of the following purposes: (A)To add to the covenants and agreements of the City in this Master Declaration any other covenants and agreements thereafter to be observed by the City, or to surrender any right or power herein reserved to or conferred upon the City which in the opinion of a nationally recognized bond counsel, filed with the City Council, does not adversely affect the interests of the Owners. (B)To cure any ambiguity or formal defect contained in this Master Declaration, or to make any other change that the City reasonably determines will not have a material and adverse effect on the interests of Bondowners. (C)To issue Parity Obligations in accordance with Section 7 hereof. (D)To authorize Parity Exchange Agreements, and specify the rights and duties of the parties to a Parity Exchange Agreement. 13.2.This Master Declaration may be amended for any other purpose only upon consent of Owners of not less than 51% in aggregate principal amount of the Bonds outstanding; provided, however, that no amendment shall be valid without the consent of Owners of 100 percent of the aggregate principal amount of the Bonds outstanding which: (A)Extends the maturity of any Bond, reduces the rate of interest upon any Bond, extends the time of payment of interest on any Bond, reduces the amount of principal payable on any Bond, or reduces any premium payable on any Bond, without the consent of the affected Owner; or (B)Reduces the percent of Owners required to approve amendatory declarations. Section 14.Defeasance. The lien of all or any portion of the Bonds upon the Net Operating Revenues may be defeased, and those Bonds shall be deemed paid, if the City places in irrevocable escrow direct obligations of, or obligations guaranteed by, the United States which are calculated to be sufficient, without reinvestment, to pay principal, interest and any premium on those Bonds as they become due, either at maturity or on prior redemption. Page 13 – Master Water Revenue Bond Declaration Section 15.The Series 2003 Bonds Sale Authorized. 15.1.Pursuant to Oregon's Uniform Revenue Bond Act (ORS 288.805 to 288.945) and the bonding authority given by City Resolution No. ____, the City Council hereby authorizes the sale and delivery of the City of Ashland, Oregon Water Revenue Bond, Series 2003. The aggregate principal amount of the Series 2003 Bonds shall not exceed Three Million Five Hundred Thousand Dollars ($3,500,000). The Series 2003 Bonds shall be Bonds as defined in this Master Declaration. The Series 2003 Bonds shall bear interest payable on ___ and ___ of each year at the following rates, commencing _____, and shall mature in the following years in the following principal amounts: [insert maturity schedule] Limitation on Payment. 15.2.The Series 2003 Bonds shall be special obligations of the City, and shall be payable solely from the Net Operating Revenues and amounts required to be deposited in the Bond Reserve Account as required and as provided by this Master Declaration. Bond Form. 15.3.The Series 2003 Bonds shall be in substantially the form attached as Exhibit A, and shall be signed with the facsimile or manual signature of the City Official. Bond Book-Entry-Form. 15.4. The Series 2003 Bonds shall be initially issued in book entry only (“BEO”) form through the Depository Trust Company of New York, New York, or its successor (“DTC”). The City Official has executed a letter of representations with DTC. While the Series 2003 Bonds are in BEO form: (A)No physical Series 2003 Bonds shall be provided to beneficial owners of the Series 2003 Bonds. (B)Registration and transfer of beneficial interests in the Series 2003 Bonds shall be governed by the operational arrangements of DTC or any substitute depository, as they may be amended from time to time, as provided in the Letter of Representations. (C)Except as may be provided in any agreement with a bond insurer, DTC or its nominee shall be treated as the Owner of the Series 2003 Bonds for all purposes, including payment and the giving of notices to Owners. The Series 2003 Bond payments shall be made, and notices shall be given, to DTC or its nominee as provided in the Letter of Representations. Any failure of DTC to advise any of its participants, or of any participant to notify the beneficial owner, of any such notice and its content or effect shall not affect the validity of the redemption of the Series 2003 Bonds called for redemption or of any other action premised on such notice. (D)The City may discontinue maintaining the Series 2003 Bonds in BEO form at any time. The City shall discontinue maintaining the Series 2003 Bonds in BEO form if DTC determines not to continue to act as securities depository for the Series 2003 Bonds, or fails to perform satisfactorily as depository, and a satisfactory substitute depository cannot reasonably be found. Page 14 – Master Water Revenue Bond Declaration (E)If the City discontinues maintaining the Series 2003 Bonds in BEO form, the City shall cause the registrar and paying agent for the Series 2003 Bonds (the “Paying Agent”) to authenticate and deliver to the beneficial owners or their nominees replacement Series 2003 Bonds in fully registered form in denominations of $5,000 or integral multiples. (F)While the Series 2003 Bonds is in BEO form, the City and the Paying Agent shall have no responsibility or obligation to any participant or correspondent of DTC or to any beneficial owner on behalf of which such participants or correspondents act as agent for the beneficial owner with respect to: (1)the accuracy of the records of DTC, the nominee or any participant or correspondent with respect to any participant’s or beneficial owner's interest in the Series 2003 Bonds; (2)the delivery to any participant or correspondent or any other person of any notice with respect to the Series 2003 Bonds, including any notice of redemption or purchase; (3)the selection by DTC of the beneficial interest in the Series 2003 Bonds to be redeemed prior to maturity; or (4)the payment to any participant, correspondent, or any other person other than the registered owner of the Series 2003 Bonds as shown in the registration books maintained by the Paying Agent, of any amount with respect to principal, premium, if any, or interest on the Series 2003 Bonds. (G)The City shall pay or cause to be paid all principal, premium and interest on the Series 2003 Bonds only to or upon the order of the Owners, as shown in the registration books maintained by the Paying Agent, and all such payments shall be valid and effective to fully satisfy and discharge the City's obligation with respect to payment thereof to the extent of the sum or sums so paid. (H)The provisions of this Section 15.4 may be modified without the consent of the beneficial owners in order to conform this Section 15.4 to the standard practices of DTC or any substitute depository for obligations issued in BEO form. Places of Payment and Paying Agents. 15.5. (A)While the Series 2003 Bonds are in BEO form, the Paying Agent shall pay Series 2003 Bond principal, interest and any redemption price to DTC or its nominee in accordance with the Letter of Representations. (B)While the Series 2003 Bonds are not in BEO form, Series 2003 Bond principal, interest and redemption price, if any, shall be payable through the corporate trust office of the Paying Agent, by a check drawn on the Paying Agent and mailed on the interest payment date to the Owners, as shown on the record date in the registration books maintained by the Paying Agent for the Series 2003 Bonds. Page 15 – Master Water Revenue Bond Declaration Notice of Redemption. 15.6. (A)Unless a shorter period is agreed to by the Paying Agent, the City shall give the Paying Agent at least forty (40) days' prior written notice of any proposed optional redemption of the Series 2003 Bonds. (B)Unless the notice states that the redemption is conditioned upon receipt by the Paying Agent of sufficient funds for redemption, the notice shall contain a certification by the City that it has funds available to it sufficient to pay in full the principal, premium (if any) and interest portions of the redemption price of the Series 2003 Bonds to be redeemed. (C)While the Series 2003 Bonds is in BEO form, the Paying Agent shall give notice of redemption only to DTC or its nominee, in the manner required by the rules of DTC. (D)The Paying Agent shall give notice of redemption under this Section 15.6 only for the Series 2003 Bonds which are not then in BEO form. The notice shall specify the date of redemption, the redemption price, CUSIP numbers, maturity date, and the place or places where amounts due upon such redemption will be payable and any other information which may be required to identify the Series 2003 Bonds which are to be redeemed. The notice may state that the redemption is conditioned upon the deposit with the Paying Agent of sufficient funds to pay the redemption price of the Series 2003 Bonds to be redeemed. The notice shall state that, provided that sufficient funds are on deposit with the Paying Agent, the Series 2003 Bonds which are being called for redemption shall become due and payable on the date specified in the notice, and that interest on those Series 2003 Bonds shall cease to accrue on that date. The Paying Agent shall mail a copy of such notice by first class mail, postage prepaid, not less than thirty (30) days before the redemption date, to the Owners of any Series 2003 Bonds which are to be redeemed, at their last address, if any, appearing upon the registration books as of the record date, but no defect in any notice and no failure to give any notice shall invalidate the redemption of any Series 2003 Bonds for which proper notice was given. No notice of redemption need be given to any Owners of any Series 2003 Bonds who have filed a written waiver of notice with the Paying Agent. Any notice mailed as provided in this Section shall be conclusively presumed to have been duly given, whether or not the Owner actually receives the notice. Authentication, Registration And Transfer. 15.7. (A)No Series 2003 Bond shall be entitled to any right or benefit under this Master Declaration unless it shall have been authenticated by an authorized officer of the Paying Agent. The Paying Agent shall authenticate all Series 2003 Bonds to be delivered at closing of the Series 2003 Bonds, and shall additionally authenticate all Series 2003 Bonds properly surrendered for exchange or transfer pursuant to this Master Declaration. (B)The ownership of all Series 2003 Bonds shall be entered in the bond register maintained by the Paying Agent, and the City and the Paying Agent may treat the person listed as owner in the bond register as the owner of the Bond for all purposes. Page 16 – Master Water Revenue Bond Declaration (C)If the Series 2003 Bonds cease to be in book-entry form, the Paying Agent shall mail each interest payment on the interest payment date (or the next business day if the payment date is not a business day) to the name and address of the Owners as they appear on the bond register as of record date. If payment is so mailed, neither the City nor the Paying Agent shall have any further liability to any party for such payment. (D)While the Series 2003 Bonds are in book-entry form, the Paying Agent shall transfer Bond principal and interest payments to DTC in the manner required by DTC. (E)The Series 2003 Bonds may be exchanged for an equal principal amount of the Series 2003 Bonds of the same maturity which are in different denominations, and the Series 2003 Bonds may be transferred to other owners if the Owner submits the following to the Paying Agent: (1)written instructions for exchange or transfer satisfactory to the Paying Agent, signed by the Owner or the Owner’s attorney in fact and guaranteed or witnessed in a manner satisfactory to the Paying Agent; and (2)the Series 2003 Bonds to be exchanged or transferred. (F)The Paying Agent shall not be required to exchange or transfer any Series 2003 Bonds submitted to it during any period beginning with a record date and ending on the next following payment date; however, such Series 2003 Bonds shall be exchanged or transferred promptly following that payment date. (G)The Paying Agent shall note the date of authentication on each Bond. The date of authentication shall be the date on which the Owner's name is listed on the Bond register. (H)For purposes of this Section, the Series 2003 Bonds shall be considered submitted to the Paying Agent on the date the Paying Agent actually receives the materials described in Section 15.7(E). (I)The City may alter these provisions regarding registration and transfer without consent of Owners in order to conform to changes in registration customs by mailing notification of the altered provisions to all Owners. The altered provisions shall take effect on the date stated in the notice, which shall not be earlier than 45 days after notice is mailed. Disposition of Series 2003 Bonds Proceeds. 15.8.$_______ of accrued interest shall be deposited in the Revenue Debt Account. $______ shall be deposited in the Reserve Account to make the balance in the Reserve Account equal to the Required Reserve. $_____ shall be deposited with _________, as escrow agent to defease the City’s Water Revenue Bonds, Series 1994. $______ shall be deposited with the City to pay the costs of the Series 2003 Project and costs incurred in connection with the issuance of the Series 2003 Bonds. Tax-Exempt Status. 15.9. (A)The City covenants for the benefit of the Owners of the Series 2003 Bonds to comply with all provisions of the Code which are required for interest on the Series 2003 Bonds Page 17 – Master Water Revenue Bond Declaration to be excluded from gross income for federal taxation purposes. In determining what actions are required to comply, the City may rely on an opinion of Bond Counsel. The City makes the following specific covenants with respect to the Code: (1)The City will not take any action or omit any action if it would cause the Series 2003 Bonds to become “arbitrage bonds” under Section 148 of the Code. (2)The City shall operate the facilities financed with the Series 2003 Bonds so that the Series 2003 Bonds do not become private activity bonds within the meaning of Section 141 of the Code. (3)The City shall pay, when due, all rebates and penalties with respect to the Series 2003 Bonds which are required by Section 148(f) of the Code. (B)The City Official may enter into additional covenants to protect the tax-exempt status of the Series 2003 Bonds. The covenants contained in this Section 15.9 and any covenants in the closing documents for the Series 2003 Bonds shall constitute contracts with the owners of the Series 2003 Bonds, and shall be enforceable by them. EXECUTED ON BEHALF OF THE CITY OF ASHLAND BY ITS _______ AS OF THE ___ DAY OF _______, 2003. City of Ashland, Oregon __________________________ Page 18 – Master Water Revenue Bond Declaration Exhibit A (Form of Bond) No. R-«BondNumber»$«PrincipalAmtNumber» United States of America State of Oregon Jackson County City of Ashland Water Revenue Bonds Series 2003 Dated Date : ________ Interest Rate Per Annum : «CouponRate»% Maturity Date : ______, «MaturityYear» CUSIP Number : «CUSIPNumbr» Registered Owner : -----Cede & Co.----- Principal Amount : -----«PrincipalAmtSpelled» Dollars----- The City of Ashland, Oregon (the "City"), for value received, acknowledges itself indebted and hereby promises to pay to the Registered Owner hereof, or registered assigns, the Principal Amount indicated above on the Maturity Date indicated above together with interest thereon from the date hereof at the Interest Rate Per Annum indicated above, computed on the basis of a 360-day year of twelve 30-day months. Interest is payable semiannually on the ______ day of _____ and the ______ day of _____ in each year until maturity or prior redemption, commencing _______. Payment of each installment of principal or interest shall be made to the Registered Owner hereof whose name appears on the registration books of the City maintained by the City's paying agent and registrar, which is currently __________________ in __________ (the "Paying Agent"), as of the close of business on the fifteenth day of the calendar month immediately preceding the applicable interest payment date. For so long as this Bond is subject to a book-entry-only system, principal and interest payments shall be paid on each payment date to the nominee of the securities depository for the Bonds. On the date of issuance of this Bond, the securities depository for the Bonds is The Depository Trust Company, New York, New York, and Cede & Co. is the nominee of The Depository Trust Company. Such payments shall be made payable to the order of "Cede & Co." This Bond is one of a duly authorized series of bonds of the City aggregating $__________ in principal amount designated as Water Revenue Bonds, Series 2003 (the "Series 2003 Bonds"). The Series 2003 Bonds are issued for the purpose of financing improvements, property acquisition and other public purposes related to the water system, including a transmission line, a distribution line, a fire flow distribution, a reservoir, and a water treatment plant, to refund its outstanding Water Revenue Bonds, Series 1994, and to pay all costs incidental thereto. The Series 2003 Bonds are authorized by City Resolution No. 2003-04 and issued under City Resolution No. ____ and the Master Water Revenue Bond Declaration dated _____, 2003 (the “Master Declaration”) and the Oregon Uniform Revenue Bond Act, in full and strict accordance and compliance with all of the provisions of the Constitution and Statutes of the State of Oregon and the Charter of the City. The Series 2003 Bonds constitute valid and legally binding special obligations of the City. The Net Operating Revenues, as defined in the Master Declaration, are pledged for the punctual payment of the principal of and interest on the Series 2003 Bonds. The City is not authorized to levy any additional taxes to pay the Series 2003 Bonds. The Series 2003 Bonds do not constitute a debt or indebtedness of Jackson County, the State of Oregon, or any political subdivision thereof other than the City. The Series 2003 Bonds are initially issued in book-entry-only form with no certificates provided to the beneficial owners of the Series 2003 Bonds. The Depository Trust Company and its participants will maintain records of ownership of beneficial interests in the Series 2003 Bonds. Page 1 –Bond Form Should the book-entry only security system be discontinued, the Series 2003 Bonds shall be issued in the form of registered Series 2003 Bonds without coupons in denominations of $5,000 or any integral multiple thereof. Such Series 2003 Bonds may be exchanged for the Series 2003 Bonds of the same aggregate principal amount and maturity date, but different authorized denominations, as provided in the Master Declaration. The Series 2003 Bonds mature and are subject to redemption as described in the final Official Statement for the Series 2003 Bonds that is dated ______. Unless the book-entry-only system is discontinued, notice of any call for redemption shall be given as required by the Blanket Issuer Letter of Representations to The Depository Trust Company, as referenced in the Master Declaration. Interest on any Series 2003 Bond or Bonds so called for redemption shall cease on the redemption date designated in the notice. The Paying Agent will notify The Depository Trust Company promptly of any Series 2003 Bonds called for redemption. If the book-entry-only system is discontinued, notice of redemption shall be given by first-class mail, postage prepaid, not less than thirty days nor more than sixty days prior to the date fixed for redemption to the registered owner of each Bond to be redeemed at the address shown on the Bond register; however, any failure to give notice shall not invalidate the redemption of the Series 2003 Bonds. Any exchange or transfer of this Bond must be registered, as provided in the Master Declaration, upon the Series 2003 Bond register kept for that purpose by the Paying Agent. The exchange or transfer of this Bond may be registered only by surrendering it, together with a written instrument of exchange or transfer which is satisfactory to the Paying Agent and which is executed by the registered owner or duly authorized attorney. Upon registration, a new registered Series 2003 Bond or Bonds, of the same maturity and in the same aggregate principal amount, shall be issued to the transferee as provided in the Master Declaration. The City and the Paying Agent may treat the person in whose name this Bond is registered on the Bond register as its absolute owner for all purposes, as provided in the Master Declaration. Unless this certificate is presented by an authorized representative of The Depository Trust Company, a New York corporation (“DTC”) to Issuer or its agent for registration of transfer, exchange or payment, and any certificate issued is registered in the name of Cede & Co. or such other name as is requested by an authorized representative of DTC (and any payment is made to Cede & Co. or to such other entry as is requested by an authorized representative of DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL inasmuch as the registered owner hereof, Cede & Co., has an interest herein. This Bond shall remain in the Paying Agent’s custody subject to the provisions of the FAST Balance Certificate Agreement currently in effect between the Paying Agent and The Depository Trust Company. IT IS HEREBY CERTIFIED, RECITED, AND DECLARED that all conditions, acts, and things required to exist, to happen, and to be performed precedent to and in the issuance of this Bond have existed, have happened, and have been performed in due time, form, and manner as required by the Constitution and Statutes of the State of Oregon; and that the issue of which this Bond is a part, and all other obligations of the City, are within every debt limitation and other limit prescribed by such Constitution and Statutes and City Charter. IN WITNESS WHEREOF, the Council of the City of Ashland, Oregon, by resolution duly passed, has caused this Bond to be signed by facsimile signature of its Mayor and countersigned by facsimile signature of its ______, and has caused a facsimile of the corporate seal of the City to be imprinted hereon, all as of the date first above written. City of Ashland, Oregon __________________________ ______________, Mayor ____________________________ __________________,_________ Page 2 –Bond Form THIS BOND SHALL NOT BE VALID UNLESS PROPERLY AUTHENTICATED BY THE PAYING AGENT IN THE SPACE INDICATED BELOW. CERTIFICATE OF AUTHENTICATION This Bond is one of a series of $_____ aggregate principal amount of City of Ashland, Oregon Water Revenue Bonds, Series 2003, issued pursuant to the Master Declaration described herein. Date of authentication: ________. _________ , as Paying Agent Authorized Officer ASSIGNMENT FOR VALUE RECEIVED, the undersigned sells, assigns and transfers unto (Please insert social security or other identifying number of assignee) this Bond and does hereby irrevocably constitute and appoint as attorney to transfer this Bond on the books kept for registration thereof with the full power of substitution in the premises. Dated: ---------------------------------------------- NOTICE: The signature to this assignment must correspond with the name of the registered owner as it appears upon the face of this Bond in every particular, without alteration or enlargement or any change whatever. NOTICE: Signature(s) must be guaranteed by a member ofSignature Guaranteed the New York Stock Exchange or a commercial bank or trust__________________________________ company(Bank, Trust Company or Brokerage Firm) __________________________________ Authorized Officer The following abbreviations, when used in the inscription on the face of this Bond, shall be construed as though they were written out in full according to applicable laws or regulations. TEN COM -- tenants in common TEN ENT -- as tenants by the entireties JT TEN -- as joint tenants with right of survivorship and not as tenants in common OREGON CUSTODIANS use the following _________________ CUST UL OREG __________________ MIN as custodian for(name of minor) OR UNIF TRANS MIN ACT under the Oregon Uniform Transfer to Minors Act Additional abbreviations may also be used though not in the list above. Page 3 –Bond Form Exhibit A Notice of Revenue Bond Authorization NOTICE IS HEREBY GIVEN that the City Council of the City of Ashland, Oregon(the "City"), adopted Resolution No. on February 18th, 2003, authorizing the issuance of revenue bonds to finance improvements,property acquisition and other public purposes related to the water system, including a transmission line, a supply line and a fire flow distribution reservoir(the "Projects"). The City Council may establish by subsequent resolution all terms, conditions and covenants regarding the bonds and the Project revenues pledged to the bonds which are necessary or desirable to sell the bonds. The revenue bonds described in this notice will not be issued in an aggregate principal amount of more than Three Million Five Hundred Thousand Dollars ($3,500,000). The bonds shall be payable solely from the portion of the"revenues" (as defined in the Uniform Revenue Bond Act ORS 288.805 to 288.945, or the "Act") from the City's water system which the City pledges to the payment of the bonds. The bonds shall not be general obligations of the City, nor a charge upon its tax revenues, but will be payable solely from the revenues which the City pledges to the payment of the bonds. If written petitions requesting an election on the issuance of the bonds, signed by not less than five percent(5%) of the City's electors, are filed at the Office of the City Recorder on or before , 2003 (the 61 st day after the date of publication of the notice), the question of issuing the bonds shall be placed on the ballot at the next legally available election date. The Office of the City Recorder is located at 20 East Main, Ashland, Oregon 97520. The resolution authorizing the bonds is available for inspection at the Office of the City Recorder. The bonds will be issued and sold under the Act; this Notice is published pursuant to ORS 288.815(6). By order of THE CITY COUNCIL OF CITY OF ASHLAND, Jackson County, Oregon Page 3 of 3 Exhibit A to Resolution