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TO, UH, THE, UH, WE'RE GOING TO GO AHEAD AND CONVENE THE, UH, MUELLER LOCAL GOVERNMENT CORPORATION HERE.UH, THIS IS THE CONTINUATION OF THE, UH, MEETING, UH, CALLED FOR THE AGENDA SET OUT FOR, UH, AUGUST 17TH ANTICIPATED TO BE DONE YESTERDAY.
SO IT ROLLED OVER, UH, WE ARE IN, UH, CITY HALL, COUNCIL CHAMBERS, UH, AND THE TIME IS 10, UH, 20.
THERE ARE, UH, TWO ITEMS, UH, IN
[Consent]
FRONT OF US.UM, DO YOU WANT TO TAKE US THROUGH THE AGENDA? DO YOU WANT TO LAY OUT ONE AND TWO? THANK YOU.
UM, SO NOW WE'LL BE HELD RAV IF YOUR BOSTON ECONOMIC DEVELOPMENT DEPARTMENT, AND BEFORE YOU ARE TWO ITEMS FOR CONSENT APPROVAL OF THE MINUTES FROM AUGUST 11TH, 2021, AS WELL AS ITEM NUMBER TWO APPROVAL OF THE OPERATING BUDGET BEFORE WE'RE MILLION $842,296.
IS THERE A MOTION TO APPROVE THESE TWO ITEMS, THE MINUTES AND THE OPERATING BUDGET ON CONSENT COUNCIL MEMBER? I MEAN, DIRECTOR RENT, THE RHEA MAKES THE MOTION.
IS THERE A SECOND DIRECTOR, VELA SECONDS? UH, IS THERE ANY DISCUSSION OF THESE TWO ITEMS, MAYOR, DIRECTOR, ALL THE, YEAH, I JUST WANTED TO CHECK WHY WE, CAN'T, WHY THERE'S STILL A BALANCE THAT'S SO HIGH.
UM, IN THE MUELLER FUND, IT DOESN'T SEEM LIKE, I MEAN, IT'S JUST, IT IS THAT THEY'RE TO PAY OFF BONDS DOWN THE LINE THAT WE OWE OR IS IT, I MEAN, IS IT JUST A MATTER OF TIMING OR CAN THOSE FUNDS BE USED FOR OTHER THINGS? THE BALANCE IS A SURPLUS OF THE TAX INCREMENT REVENUE, LESS THE DEBT SERVICE PAYMENTS.
SO UNTIL ALL OF THE BONDS ARE THE FEES, THE BALANCE WILL REMAIN.
AND HOW LONG DO WE HAVE FOR THAT? THE LAST BOND WILL BE PAID OFF BY 2032.
SO IN 2032, AT THE SAME RATE, THERE WOULD STILL BE SOME NUMBER OF MILLION DOLLARS LEFT THAT WOULD THEN GO TO THE CITY.
ANY FURTHER, ANY FURTHER DISCUSSION, TAKE A VOTE ON THE TWO ITEMS ON CONSENT.
THOSE IN FAVOR, PLEASE RAISE YOUR HAND.
THOSE OPPOSED DIRECTORS VOTED UNANIMOUSLY TO ADOPT THE CONSENT AGENDA.
UM, IS THERE, I THINK THAT'S ALL THE BUSINESS THAT WE NEED TO COVER.
SO THE MUELLER LOCAL GOVERNMENT CORPORATION MEETING HERE TODAY IS, UH, ADJOURNED AT 10 22.
AND WITH THAT COLLEAGUES, WE ARE DONE EVERYTHING WE NEED TO DO.