Nice catch, Dan!

I spent the morning at Portland City Council’s Wednesday morning session. The meeting was called to order five minutes late, as usual. Two impressive 17 year-olds then answered Mayor Potter’s regular question, “How are the children doing?”, one advocating for more second language instruction in public schools, the other expressing gratitude for Portland Community College’s alternative high school program, and for the Oregon Health Plan which is providing her terminally-ill mother with health care while the student works three jobs to support her. At seventeen. And she seemed remarkably energetic and thrilled with her life and future.

I gave the three minute version of Reasons to Vote No on Measure 26-90, the Civil Service charter changes, under Citizen Communications. Mayor Potter avoided eye contact while I was speaking. I was rewarded on returning to my seat by a woman who was there for a later item, whispering, “Thank you for the information. I had no idea. I’d like to know more.” Welcome, if you’re now reading this blog! And thank you for letting me know my time was well spent.

Lots of contracts on the remainder of the agenda, before the final item on Parks Total Asset Management which I was staying for. See comments under yesterday’s post for a report on that vote. One item of particular interest, put on the agenda by the Office of Management and Finance – Financial Services: 426 Authorize revenue bonds to finance costs of the Portland Mall Revitalization Project (Ordinance). I thought this sounded routine, as the Council has surely known this project needs to be funded for a while, and is reminded daily it’s in progress by the construction outside City Hall on SW 5th Avenue. But Commissioner Dan Saltzman chimed in, asking something on the lines of, “”Why does the language of this ordinance say the bonds have ‘the full faith and credit of the City behind them’? Is that legally necessary, or are these bonds different from others? I thought we were paying for the mall revitalization with parking meter proceeds?”

To which the staff person replied something like, “The parking meter proceeds are also pledged to several other projects, including the streetcar. These bonds would be the 3rd or 4th lien on the parking meter money, and we believe the bonds need the full faith and credit of the City behind them to make them marketable.”

Yikes. The Council asked for more information on this issue to be presented to them when they vote on the Ordinance at its second reading. Good catch, Dan.