Public Comment: Five Minute Limit per Speaker This comment period is for the public to address topics on today s agenda.

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Abraham Logan
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1 BOARD OF SUPERVISORS District 1 James Houser District 2 Stacey Walker District 3 Ben Rogers District 4 Brent Oleson District 5 John Harris 935 2ND ST. SW CEDAR RAPIDS, IA PH: LinnCounty.org LINN COUNTY BOARD OF SUPERVISORS MEETING AGENDA Monday, November 26, a.m. Informal Board Room Jean Oxley Public Service Center 935 2ND ST. SW, Cedar Rapids, IA Call to Order Public Comment: Five Minute Limit per Speaker This comment period is for the public to address topics on today s agenda. Minutes Discuss and decide on meeting minutes. Discuss a Resolution in Support of an Application to the JP Morgan Chase & Co. Advancing Cities Initiative Discuss financing plan for general obligation Land and Water Legacy Bonds, Series 2019A Discuss financing plan for general obligation Transit Building (LIFTS) Bonds, Series 2019B Public Comment: Five Minute Limit per Speaker This is an opportunity for the public to address the board on any subject pertaining to board business. Payroll Authorizations Discuss and decide on Employment Change Roster (payroll authorizations). Claims Discuss and decide on claims. Correspondence Appointments Adjournment For questions about meeting accessibility or to request accommodations to attend or to participate in a meeting due to a disability, please contact the Board of Supervisors office at or at bd-supervisors@linncounty.org.

2 RESOLUTION NO A RESOLUTION IN SUPPORT OF AN APPLICATION TO THE JP MORGAN CHASE & CO. ADVANCING CITIES INITIATIVE WHEREAS, Linn County received a request for support to sponsor an application to the JP Morgan Chase & Co. AdvancingCities Initiative, a $500 million, five-year initiative to invest in solutions that bolster the long-term vitality of the world s cities and the communities within them that have not benefited from economic growth; and, WHEREAS, a cross-sector coalition of partnering agencies in Linn County have created the framework for the Advancing Opportunity program which enables access to coordinated services and supports, with a focus on populations that typically are underrepresented and face disproportionate barriers to economic mobility, resource access and financial stability; and, WHEREAS, The Advancing Opportunities Collaborative is a collective, systems approach partnership between and among Kirkwood Community College and coalition partners; and, WHEREAS, this work will operate through the leadership of coalition partner members and through the Opportunity Center located at Ladd library serving the neighborhood of Cedar Rapids, Iowa; and, WHEREAS, together, the coalition partners commit to work in concert with one another through collective action to ensure all families residing in the Advancing Opportunities Collaborative (ACO) neighborhoods have a clear path to economic prosperity, and, WHEREAS, the Board of Supervisors supports such activities which promote and facilitate economic development objectives of the community, including support for education and training opportunities for workforce development; and, WHEREAS, Advancing Opportunities seeks to address significant inequities in Cedar Rapids, Iowa s most diverse and vulnerable neighborhood, the zip code, as determined by the Social Vulnerability Index; and, WHEREAS, a high number of households experience financial instability, housing insecurity and unemployment. Furthermore, students are not fully school ready with less than 50% of students assessing as kindergarten ready and less than 50% able to read at grade level. With education level, language, culture, transportation and employability skills and resource desert barriers, many individuals are not prepared for advancement toward education, training or career readiness; and, WHEREAS, Advancing Opportunities supports a multidisciplinary team approach that will streamline family experiences resulting in a collaborative plan to address barriers and building resiliency, while strengthening executive functioning and employability skills that impact long-term results and harness opportunities from birth to adulthood; and, WHEREAS, this collaboration will facilitate equity of voice, enhance TAV data systems to monitor progress, inform collective action and promote mechanisms for transparency and accountability to ensure all families have a clear path to economic prosperity through family stability, education, employment and community opportunities, and resource accessibility; and, WHEREAS, the request for proposal from JP Morgan Chase & Co. states lead applicants are required to be nonprofit organizations submitting applications on behalf of cross-sector actors within a city, and applications must include at least one letter of recommendation or references from local government official(s); and,

3 RESOLUTION WHEREAS, JP Morgan Chase and Co. requests examples of government policy that will support implementation, or policy prescriptions that would accelerate efforts; and, WHEREAS, proposals must also describe how this effort fits into the priorities of local elected leaders, including evidence that this effort will be supported (including actions already taken to support these goals), demonstrates a clear understanding of the project and affirms government s active engagement in this work; and, WHEREAS, many of the characteristics of the project are consistent with Linn County s Strategic Plan for Fiscal Years and, in combination, establish the public purpose and overall benefit to the County; and, WHEREAS, the Board of Supervisors desires to express its support for the Advancing Opportunities application to JP Morgan Chase & Co AdvancingCities Initiative. NOW, BE IT THEREFORE RESOLVED the Linn County Board of Supervisors approves the endorsement for the Advancing Opportunities application and request for County engagement in the process. PASSED AND APPROVED this day of November LINN COUNTY BOARD OF SUPERVISORS John Harris, Chair Ben Rogers, Supervisor Jim Houser, Vice Chair Brent Oleson, Supervisor Stacey Walker, Supervisor Aye: Nay: Abstain: ATTEST: Joel Miller, Linn County Auditor I, Joel Miller, Linn County Auditor, certify that at a regular meeting of the Linn County Board of Supervisors the foregoing resolution was duly adopted by a vote of: Aye Nay Abstain and Absent from Voting. Joel Miller, Linn County Auditor State of Iowa County of Linn This instrument was acknowledged before me on the day of by Joel Miller as Linn County Auditor. Notary Public, State of Iowa 2

4 Linn County, Iowa $6,830,000* General Obligation Land and Water Legacy Bonds, Series 2019A * approximate Finance Plan Discussion November 28, 2018 Paul Donna, Managing Director pdonna@rwbaird.com 752 Stillwater Road, Suite J Mahtomedi, MN rwbaird.com/publicfinance 1

5 Estimated Sources & Uses Not Bank Qualified Moody s Credit Rating applied for Bond sale at 11:00 A.M. on December 18 th Formal award of Bonds at December 19 th Board meeting Close & fund anticipated to be January 23rd 2

6 Estimated Debt Service Paid from a debt service levy. 20 year repayment with level annual payments. Estimated True Interest Cost (TIC) of 3.66% as of November 6th. Optional pre-payment date of June 1, % change in interest rate represents approximately $91,800 in total interest or $4,600 annually. 3

7 Tentative Financing Timetable Date Responsible Party Action / Notes Week of November 5 Baird, Dorsey & County Finance plan finalized. Week of November 12 Baird First draft of Preliminary Official Statement (the POS ) available to review November 14 Week of November 19 November 28 County Board - Action County, Dorsey, & Baird D&W Documentation Baird Finance Plan County Board- Action November 29 Baird POS finalized December 5 County Board Action Baird Board sets the date for a public hearing (November 28) on the issuance of Series 2019B Bonds to fund the LIFTS Building project. Potential revisions & comments to first draft of POS received. Near final draft distributed. Board conducts public hearing on the issuance of Series 2019B Bonds Board considers finance plan for the issuance of Series 2019A Bonds and Series 2019B Bonds Board sets date for bond sale Board approves POS Week of December 3 County & Baird Conference call with Moody s Week of December 10 Moody s & Baird Credit rating received December 18 (11:00am) Baird Interest rate bids received on Series 2019A & Series 2019B (11:30am) December 19 (9:00am) County Board Action Board considers interest rate bids and formal award of bonds. January 9, 2019 County Board Action & Dorsey Bond Resolutions adopted by Board January 23 County, Dorsey & Baird Closing proceeds available 4

8 Important Disclosures Robert W. Baird & Co. Incorporated ( Baird ) is not recommending that you take or not take any action. Baird is not acting as financial advisor or municipal advisor to you and does not owe a fiduciary duty pursuant to Section 15B of the Securities Exchange Act of 1934 to you with respect to the information contained herein and/or accompanying materials (collectively, the Materials ). Baird is acting for its own interests. You should discuss the Materials with any and all internal or external advisors and experts that you deem appropriate before acting on the Materials. Baird seeks to serve as underwriter in connection with a possible issuance of municipal securities you may be considering and not as financial advisor or municipal advisor. Baird is providing the Materials for discussion purposes only, in anticipation of being engaged to serve as underwriter (or placement agent). The role of an underwriter includes the following: Municipal Securities Rulemaking Board Rule G 17 requires an underwriter to deal fairly at all times with both municipal issuers and investors. An underwriter s primary role is to purchase the proposed securities to be issued with a view to distribution in an arm s length commercial transaction with the issuer. An underwriter has financial and other interests that differ from those of the issuer. An underwriter may provide advice to the issuer concerning the structure, timing, terms, and other similar matters for an issuance of municipal securities. Any such advice, however, would be provided in the context of serving as an underwriter and not as municipal advisor, financial advisor or fiduciary. Unlike a municipal advisor, an underwriter does not have a fiduciary duty to the issuer under the federal securities laws and is therefore not required by federal law to act in the best interests of the issuer without regard to its own financial or other interests. An underwriter has a duty to purchase securities from the issuer at a fair and reasonable price but must balance that duty with its duty to sell those securities to investors at prices that are fair and reasonable. An underwriter will review the official statement (if any) applicable to the proposed issuance in accordance with, and as part of, its responsibilities to investors under the federal securities laws, as applied to the facts and circumstances of the proposed issuance. The Materials do not include any proposals, recommendations or suggestions that you take or refrain from taking any action with regard to an issuance of municipal securities and are not intended to be and should not be construed as ''advice'' within the meaning of Section 15B of the Securities Exchange Act of 1934 or Rule 15Ba1 1 thereunder. The Materials are intended to provide information of a factual, objective or educational nature, as well as general information about Baird (including its Public Finance unit) and its experience, qualifications and capabilities. Any information or estimates contained in the Materials are based on publicly available data, including information about recent transactions believed to be comparable, and Baird s experience, and are subject to change without notice. Baird has not independently verified the accuracy of such data. Interested parties are advised to contact Baird for more information. If you have any questions or concerns about the above disclosures, please contact Baird Public Finance. IRS Circular 230 Disclosure: To ensure compliance with requirements imposed by the IRS, we inform you that the Materials do not constitute tax advice and shall not be used for the purpose of (i) avoiding tax penalties or (ii) promoting, marketing or recommending to another party any transaction or matter addressed herein. 5

10 Linn County, Iowa $1,500,000* General Obligation Bonds (Transit Building Project), Series 2019B * approximate Finance Plan Discussion November 28, 2018 Paul Donna, Managing Director pdonna@rwbaird.com 752 Stillwater Road, Suite J Mahtomedi, MN rwbaird.com/publicfinance 1

11 Estimated Sources & Uses Not Bank Qualified Moody s Credit Rating applied for Bond sale at 11:00 A.M. on December 18 th Formal award of Bonds at December 19 th Board meeting Close & fund anticipated to be January 23rd 2

12 Estimated Debt Service Paid from a debt service levy. 20 year repayment with level annual payments. Estimated True Interest Cost (TIC) of 3.66% as of November 6th. Optional pre-payment date of June 1, % change in interest rate represents approximately $20,540 in total interest or $985 annually. 3

13 Tentative Financing Timetable Date Responsible Party Action / Notes Week of November 5 Baird, Dorsey & County Finance plan finalized. Week of November 12 Baird First draft of Preliminary Official Statement (the POS ) available to review November 14 Week of November 19 November 28 County Board - Action County, Dorsey, & Baird D&W Documentation Baird Finance Plan County Board- Action November 29 Baird POS finalized December 5 County Board Action Baird Board sets the date for a public hearing (November 28) on the issuance of Series 2019B Bonds to fund the LIFTS Building project. Potential revisions & comments to first draft of POS received. Near final draft distributed. Board conducts public hearing on the issuance of Series 2019B Bonds Board considers finance plan for the issuance of Series 2019A Bonds and Series 2019B Bonds Board sets date for bond sale Board approves POS Week of December 3 County & Baird Conference call with Moody s Week of December 10 Moody s & Baird Credit rating received December 18 (11:00am) Baird Interest rate bids received on Series 2019A & Series 2019B (11:30am) December 19 (9:00am) County Board Action Board considers interest rate bids and formal award of bonds. January 9, 2019 County Board Action & Dorsey Bond Resolutions adopted by Board January 23 County, Dorsey & Baird Closing proceeds available 4

14 Important Disclosures Robert W. Baird & Co. Incorporated ( Baird ) is not recommending that you take or not take any action. Baird is not acting as financial advisor or municipal advisor to you and does not owe a fiduciary duty pursuant to Section 15B of the Securities Exchange Act of 1934 to you with respect to the information contained herein and/or accompanying materials (collectively, the Materials ). Baird is acting for its own interests. You should discuss the Materials with any and all internal or external advisors and experts that you deem appropriate before acting on the Materials. Baird seeks to serve as underwriter in connection with a possible issuance of municipal securities you may be considering and not as financial advisor or municipal advisor. Baird is providing the Materials for discussion purposes only, in anticipation of being engaged to serve as underwriter (or placement agent). The role of an underwriter includes the following: Municipal Securities Rulemaking Board Rule G 17 requires an underwriter to deal fairly at all times with both municipal issuers and investors. An underwriter s primary role is to purchase the proposed securities to be issued with a view to distribution in an arm s length commercial transaction with the issuer. An underwriter has financial and other interests that differ from those of the issuer. An underwriter may provide advice to the issuer concerning the structure, timing, terms, and other similar matters for an issuance of municipal securities. Any such advice, however, would be provided in the context of serving as an underwriter and not as municipal advisor, financial advisor or fiduciary. Unlike a municipal advisor, an underwriter does not have a fiduciary duty to the issuer under the federal securities laws and is therefore not required by federal law to act in the best interests of the issuer without regard to its own financial or other interests. An underwriter has a duty to purchase securities from the issuer at a fair and reasonable price but must balance that duty with its duty to sell those securities to investors at prices that are fair and reasonable. An underwriter will review the official statement (if any) applicable to the proposed issuance in accordance with, and as part of, its responsibilities to investors under the federal securities laws, as applied to the facts and circumstances of the proposed issuance. The Materials do not include any proposals, recommendations or suggestions that you take or refrain from taking any action with regard to an issuance of municipal securities and are not intended to be and should not be construed as ''advice'' within the meaning of Section 15B of the Securities Exchange Act of 1934 or Rule 15Ba1 1 thereunder. The Materials are intended to provide information of a factual, objective or educational nature, as well as general information about Baird (including its Public Finance unit) and its experience, qualifications and capabilities. Any information or estimates contained in the Materials are based on publicly available data, including information about recent transactions believed to be comparable, and Baird s experience, and are subject to change without notice. Baird has not independently verified the accuracy of such data. Interested parties are advised to contact Baird for more information. If you have any questions or concerns about the above disclosures, please contact Baird Public Finance. IRS Circular 230 Disclosure: To ensure compliance with requirements imposed by the IRS, we inform you that the Materials do not constitute tax advice and shall not be used for the purpose of (i) avoiding tax penalties or (ii) promoting, marketing or recommending to another party any transaction or matter addressed herein. 5

School District of Milton Board of Education

School District of Milton Board of Education Financing a Facility Referendum Lisa Voisin, Managing Director 414-765-3801 lvoisin@rwbaird.com Robert W. Baird & Co. Incorporated ( Baird ) is not recommending