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Regular Council Meeting <br />January 14, 2019 <br />Page 2 <br />6. Receive reports and/or minutes from the following boards and commissions: <br />(a) Paris Visitors & Convention Council (11-19-2018) <br />(b) Housing Authority (9-18-2018) <br />(C) Paris -Lamar County Board of Health (9-17-2018) <br />(d) Paris Economic Development Corporation (11-20-2018) <br />(e) Airport Advisory Board (11-15-2018) <br />(f) Planning & Zoning Commission (12-3-2018) <br />(g) Historic Preservation Commission (11-14-2018) <br />(h) Main Street Advisory Board (1-9-2018 amended & 11-13-2018) <br />(i) Board of Adjustment (9-4-2018) <br />7. Receive the November 2018 financial report. <br />8. Re -approve the City Investment Policy. <br />9. Award the bid to Liberty National Bank to serve as the city's depository beginning March <br />1, 2019 and ending February 28, 2021. <br />10. Approve final payment in the amount of $40,789.50, close out the contract with Richard <br />Drake Construction on the 2017 Street Bond Improvements to Collegiate, 33rd S.E. and <br />Graham Streets, and accept improvements. <br />11. Approve final payment in the amount of $23,678.85, and close out the contract with <br />Archer Construction & Design on the N.W. EMS Station construction project, and accept <br />improvements. <br />Council Member Pilgrim arrived at 5:32 p.m. <br />Regular Agenda <br />12. Receive a presentation from the Love Civic Center Board regarding maintenance and <br />needed improvements at the Love Civic Center, discuss, and consider increasing the HOT <br />rate by two cents to help fund capital maintenance and replacements. <br />Lamar County Chamber President Paul Allen gave a presentation to the City Council <br />detailing the age of the civic center, as well as needed capital improvements and repairs. Mr. <br />Allen referenced the long-range improvement and capital plan, and said the board was asking for <br />a two -cent rate increase in order to fund approximately $1.5 million in improvements. He <br />explained that their financial advisor ran a debt schedule on $1.5 million in debt with a 10 -year <br />payback. Mr. Allen said the annual debt payment would around $185,000 and if the debt was <br />issued, the City would control those proceeds and only pass them on to the LCC as a <br />