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second most desirable. Therefore Systems, Inc., Portland Oregon, met and exceeded the City's criteria; however, it was much more costly. Motion by Councilmember Beyer and seconded by Councilmember Beahen to recommend proceeding with negotiations with FundworksTM. Motion carried. Voting Yes: Mayor Hardin, Councilmembers Beyer, Beahen, Peterson and Zimmerman. Voting No: None. Case #4: Revisit the Priority Street Lighting Financing Issue Finance Officer Hart stated that staff has updated its priority street light list - we currently have 28 lights. Recently we received a request to install a priority street light at the intersection of 167th Avenue and County Road #5 which is listed as a level A priority. Presently, the City's Future Street Lighting Fund has a balance of $11,928 which could be used to finance the installation of 13 of the 24 priority A lights. Various funding sources have been discussed, with direct billings to residential properties being the preferred method, since the majority of the priority lights benefit primarily residential properties. She explained the three classes of priority lights. She also presented tables based on a 10-year and a 20-year amortization billing. Based on those calculations, if all priority arterial street lights are installed, and 4,900 residential properties are billed directly, the annual cost to each property would be $6.28 to $7.37, or approximately $1.57 to $1.85 per quarter. It is anticipated that the quarterly billing, in the amounts stated above, would continue to be sufficient to recover the costs of installation. It may be necessary to adjust this rate periodically if there is a significant increase in costs for operation and maintenance. City Administrator Schroeder inquired if the Committee agrees with the priorities and if they would want to build any of them assessing the funding by charging the citizens directly on their utility bills. Councilmember Peterson inquired if that would be for the entire City to which Mr. Schroeder replied yes. If the entire system was built and billed to the residents, the charge would be $7.37 per year. Mayor Hardin stated he would be in favor of starting with the A priorities and going from there. Mr. Schroeder questioned if they would be billed in this fashion. Councilmember Peterson answered yes, if that's consistent with what we've done in the past. Councilmember Beyer felt the funding should come out of the City's General Fund. It was also determined that an error was made and that 153rd should be an A priority. Motion by Councilmember Beahen and seconded by Mayor Hardin to proceed with the A priority street lights and fund it by billing direct to the residents via their utility bill utilizing the 20-year amortization numbers. Motion carried. Voting Yes: Mayor Hardin, Councilmembers Beahen, Peterson and Zimmerman. Voting No: Councilmember Beyer. Finance Committee/April 25, 1995 Page 3 of 4