HomeMy WebLinkAbout062711_ra01
(l\ote Consent Agenda or Regular Agenda)
(Note Department)
JEFFERSON COUNTY
BOARD OF COUNTY COMMISSIONERS
CONSENT AGENDA REQUEST
TO: Jefferson County Board of Commissioners
THROUGH: Philip Morley, County Administrator
FROM: Judi Morris, Treasurer
DATE: June 27, 2011
SUBJECT: Refunding 2003 Bond
STATEMENT OF ISSUE: Interest rates have dropped and our 2003 is now subject to refinancing. Including the
funding of Jeff Com's new RMS system ($326,000.00) will allow them to proceed with a completed system at the
lowest cost.
ANALYSIS: Acting quickly we can save $11,437.00 annually or $91,496.00 over the life of the issue. The
Underwriter, Jim Nelson has reviewed the bond specifics.
For their new portion the Jeff Com board agreed to pay for this expenditure by dividing the costs between their three
entities; County (Sheriff), City (Police) and Fire (all districts) to assure the county is not responsible for the entire debt.
Timing may be such that Jeff Com will need a short term ioan to cover the payment - until bond funds are received.
$326,000.00 @ 1.15% for 60 days is $624.60.
FISCAL IMPACT:
$91,496.00 savings over life of bond over original costs.
RECOMMENDATION:
Approve bond refunding.
REVIEWED BY:
~
)
,
/"
I
0-y~
/ />/)
'.. 1/ / c:
~--..k:";.
Phmp MorleYlCo 'hty Admi~:tr!_~
Date
_~1 ~~:~~~
~ /~~~ 00b ~
~!4., ~\ ~
Ie: ... ""::1 lot
"'~I
\ ! I
\ / .
\\~ ~/
2:fSRl Oi.O/
~~/
Philip Morley
1820 Jefferson Street
PO Box 1220
Port Townsend, WA 98368
MEMORANDUM
To:
Board of County Commissiouers ,..--, _
/~ ," /'! -}
Philip Morlev, Jefferson County Administrator'~', //0/0 ~ ___--
. . 'J::; J' ,-
" ...-.- ..,~-
'1'"
June 24, 2011 ~;;/'_/--'-"-' '-",
From:
Date:
Subject:
Additional Financial Background on Records Management System and Mobile
Records Management System Purchase and Financing
On June 23, 2011, the Jeff Com Administrative Board unanimously passed a motion to request
the County to finance the purchase of a software License Agreement from New World Systems
for a Records Management System (RMS) and Mobile RMS, by wrapping the $326,000 finance
amount into the Treasurer's proposed Refund of the County's 2003 bond. The motion asked for
seven year financing, and also included a provision for preparing and adopting a new Interlocal
Agreement (ILA) in the near future to guarantee revenue from the Jeff Com users to pay the
annual debt service for the RMSIMRMS. The revenue and the ILA would be based upon a 1/3,
1/3, 1/3 split between the County, the City and the Fire Districts, allocated among the users. The
1/3, 1/3, 1/3 split was previously approved in concept by the City Manager, the Fire Chiefs and
the Fire Commissioners. If revenue were allocated via an increase in the call for service fee
charged to the user agencies by Jeff Com, the County would have paid approximately Y, the total
debt service because of the Sheriffs high number of calls for service. A 1/3 apportionment
reflects that this RMS infrastructure is equally vital to fire service and the two law enforcement
agencies. It also reflects recognition by our sister agencies of the hardship that paying 50%
through calls for service would place upon the County's General Fund.
The June 27 Agenda for the Board of County Commissioners includes the purchase contract for
the RMS/MRMS Software License with New World Systems, and a request to approve the 2003
Bond Refund including financing for the RMS/MRMS purchase. Action on both items is
requested now, so that the RMS/MRMS software license price quote holds, and RMS installation
can happen concurrent with the July 18 go-live date for Jeff Com's new Computer Aided
Dispatch system, also from New World. Installation of RMS now is necessary in order to
provide the new CAD system with a functional link to a compatible RMS system, and avoid
negatively impacting dispatch services. Because time is of the essence, action is requested now
on the RMSIMRMS purchase and financing. The ILA to guarantee revenue for the RMS/MRMS
Phone (360)385-9100
Fax (360) 385-9382
pmorley@co.jerrerson.wa.us
debt service, as directed by the Jeff Com Administrative Board's unanimous motion, will follow
shortly.
Under the terms of the RMS purchase agreement, the initial invoices from New World Systems
will be issued upon the effective date of the purchase contract, and payment will be due within
30 days thereafter. In the event bond revenues are not in hand by the payment date, the
Treasurer would provide bridge financing until then.
Page 2 of2
~
x
d>
<D
t
o
~
ID
c::
~
'"
C
'>
~
(f)
'"
c
'0
c
~
Q;
c::
~
c
~
o
()
c
o
~
ID
:to
ID
>
I
w
t;
rn
U
~
~
Q)
ai
"'
::>
o
.c
to
::>
o
S2-
(f)
o
z
o
1Il
Z
o
f=
<(
l')
...J
1Il
o
...J
<(
0::
w
z
w
l')
o
.J
~
-
~
-
f-
f-
'"
'"
o
-;$
'"
Z
~
~
-'"
..
Z '"
O~
GO/)
~~
I~
Vl
~ ~
~o;
~'~:;2 ~
E-~~ Z
~~::: :2
0/;::- ~
U ~~ ::..
Z .. 0 .;;: :;;
0.5 N 0
Vl-;:;' \..i
a:::: :: c:::
~ .. I
~ .5 to-
~ "::'M
("') -, t:i --
o "",0
o ::....
N ";..
w "'.J
...J E z
~ ~ 0
-A ~C-'
...J 'Z
<( -
U \..i
l') Z
z ~
15 i:5
z ""
:::J '"
u.. i>:
w
0::
w
U
z
;;
o
<(
f-
'"
'"
o
"
o
"-
'"
i>:
Vl
\.;
Z
;;
~
Vl
,;;I~ !:~
z = ~o
-; --
"
Vl
:01
~i
c Vl
<
:x: IE'I '" l/'l ""
:x::x:o-,~a-
~ l"'l ~..,.", "':to-
N~: ~ ;::
'"
-.:t tr, on tr, l.rl \0 on tr,
OOO\M"'1"CQ'..N\O
00 0\0 0\ \C. \0 0
o~ V) "T~ r-: N r-:' \O~ O\~
r'l t-- t-- r-- r:-- r-- t-- r--
M P, f') f'l M M
:0
'"
Cl
CD
"
'3
"
'"
'"
~
"
'"
Z
"'"
'"
~
o
0.
o
rt
i"
00
00,
~ "'
ti!
:Ei
I: ~!!
"(3 "'T ;:;
"
'"
0..
\r)o.nlr,o.n\Oo.ntn
o-,("')"TOO\N\O
0\ 0 0\\0 \0 0
tn"'T~N~r-:N..c'O\~
r'l M M N N
00000
00000
00000
o.n~t.r~V)~oc
"'1" 7V)\O I:"-
M M M r'l M
"'
"
00,
"'
"'
"
N
'"
o
"'
'0
.,;:
>a
co
N
'"
o
~.
co
.,;:
00
'"
<=>
<=>
<=>
0"
00
N
'"
,;:
o
o
o
'"
>a t-
o-. ff)
...,.", ..,.~
-
a-, _
~ if:
~
-
~
o
U
tn
"
'~
o
I:
~
';;
Z
~
~
CD
.. "
.--- "S:
~ "
~Vl
CD_
" '"
-;; ;::I
~ a
~
~ &
'"
~ ~
15 >
f-~
;..c
N
"
N
'<5
00
'"
~
"
::>
'"
tc
<=>
=<
N
"-<
o 3.:'
tc
u -
~ B
;;
~o...
rJ) '..I)
gf gt ->~
'S: 'S:
te c.; '"
(/'j 'Z:
~~
~ .-
>>
15 -
<'.) v
:r. </:'
~ "
~ ~
0..0..
u tl
ZZ
...
en
<Xl
en
,
N
...
'"
,
<Xl
<Xl
"i'
~
w
c:
o
.c
D-
*
tc
a-
....
~ -.
,
""
o
'B-
{j
~
So
.f
~
1?
~.
~
{j
::
~
,
c
w
E
~
rn
D-
w
o
w
"
c:
ro
c:
u::
,~
:0
::!
D-
~
:>.
c:
ro
D-
E
o
u
"
c:
ro
c:
o
"'
Qi
z
c:
t'
rn
:::;
"
~
~
~
~
~
~
~
~.
on
~
..g
~
-2
'-'
~
~
s:;
>.
.D
"
W
ro
D-
f1'
D-
t,
.~
~
ID
,
"-
~
-
"-
~
~
...
~
z
....
~
~ z
0
~ Q:I
~ Z
Z - 0
-
.... N ....
E-
~ '" ~
'"
~ 0 <;;:
= ....
>< ~ ...
~ :; Q:I
N 0
~ 00
;;; ...
~ '" ~
Z 0 :.::
...
0 Z
~ ...
<;;:
:.::
~
...
><
,
0
'"
~
,
""
C
~
'"
::
~
,
~
'"'
.
-S
-
<2
.
"
...
.s
~?
<;:
::;
.$
>,
:l
ii
".
:if
;p
.'!
5;
o
tS
::i
"
-
~
.
,.
o
N
-
if
:<
:"
<
:;
:"
e.
~
:"
jp
".
o
'"
~
0000':0>00000000
"'t-lf","'_C\r-on"')~C't-......
<r\<f.:"..,.....-;".;..;."...,...".."....-, ,,,C'".
o
c
~
o
o
M
o
o
N
g 0 0 0 '5 0 0
0 0 0 0 0
C ~ ~ cO ~ ~
(%)aleCllSaJalUI ^1~aaM a6eJaA\f
0
N
N
~
N
~
0
0
N
~
0
0
N "
~ '"
0 00
0 '"
N N
~ "
N vi cO
~ ro 00
0 ~
0 Q) e
N >-
M 0 -
0 N 0
0 ~,
N C '"
" t-
O OJ N
0 c N
N .~
~
'" 10 '"
N '"
E 0
0 ~ c:\
N ,
~ '"
~
~ - "
"
~ 0 F
~ '" OJ
~ .S '"
~ ~ ~
~ Q
~ ~
'" ~
~ :; "
~ ~
.~ .~ "
'0 "' i:;
~, Q) ~
~ ::l
"' ""
~ .'!1 "
~ '"
~.
"0
~ C 0
~ 0 .s
~ -"
N '0 0
~
.~ a. ~
::l "S
~, Q) ;:;
~ "0
'" ~
0 E
~.
~ ,'!1 "
~ >< ?:
x Q) .5
~
"0 -
:::; oS '"
~. 0 ::;
~,
:;; l? ""
~. ...
0 "
-
~ N '"
~ Q) '"
~ ~
.c -
'. f- "-
x .
~
I ~
~
~
~,
~
~.
c,
X
0
0
0