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Finance Director Lund stated that it will be around 11.5%. She noted that if they were looking at <br />issuing the equipment certificates for all three years it would be around a 12%-13% increase. She <br />discussed the effects on the tax capacity. She asked if the Council would like to see the impact of <br />doing the three year capital equipment certificate with the overall levy increase and tax effect on <br />the residents. <br />Acting Mayor Riley stated that they have not made an informed decision on this yet. He noted that <br />this would obviously increase the levy but he would like to know the cost benefit of issuing a three- <br />year certificate versus one-year certificates three years in a row. <br />Finance Director Lund noted that this would be dependent on interest rates over the years as well <br />as the continued issuance costs. She added that there could also be savings with equipment costing <br />less now than it could in a year or two from now. <br />Acting Mayor Riley said he would recommend staying with a one year certificate. <br />Councilmember Musgrove added that it would be worth seeing the numbers on a three-year <br />certificate. <br />There was a consensus of the Council. <br />2.02: Discussion of Ordinance #23-15 Tobacco and Cannabis Use Within Public Property <br />and Public Places <br />City Administrator Hagen stated that this item will be discussed at a later meeting. <br />3. TOPICS FOR FUTURE DISCUSSION <br />3.01: Review Future Topics/ Calendar <br />Noted. <br />4. MAYOR / COUNCIL / STAFF INPUT <br />None. <br />5. ADJOURNMENT <br />The Work Session of the City Council was adjourned at 6:56 p.m. <br />Respectfully submitted, <br />Brian S . Hagen <br />City Administrator <br />City Council Work Session / August 22, 2023 <br />Page 11 of 12 <br />