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• #5: Overlapping Debt in the City <br />See Exhibit 2. <br />#6: Project Priority & Relative Benefits vs. Cost <br />This is a high priority project. The fire department provides an essential core service function <br />of city government. Providing adequate physical space to operate and maintain equipment <br />efficiently and with a high level of service is deemed essential. The proper maintenance and <br />storage of equipment and vehicles is essential to this service. <br />#7: Operating Cost <br />The newly acquired facility has a larger square footage and will have a higher operating cost <br />than the original facility. However, to ensure the proper safety and well being of the City's <br />residents, the City has determined that cost to be minimal compared to the benefits of having a <br />sufficiently sized public safety facility that can properly store vehicles and equipment and <br />provide enough space for fire department personnel to adequately perform their duties. <br />#8: Other Alternatives Considered <br />The City has considered a number of options. However, by meeting the space needs of the fire <br />department in one properly sized and better located facility, the City is alleviating a potential <br />safety concern and achieving efficiency within the fire department's operations. <br />Project #2: City Hall Facility <br />In 2001 the City of Hugo EDA issued its $1,870,000 Public Facility Lease Revenue Bonds, Series <br />2001. The proceeds of that issue were used to construct a City Hall Facility within the corporate <br />boundaries of the city. The City currently leases that facility from the EDA. The City intends to <br />formally acquire ownership of the City Hall Facility via the issuance of new Capital Improvement <br />Plan bonds. <br />Statutory Factors considered: <br />#1: Condition of existing facilities and need for repair or replacement: <br />Condition of the (original) existing facilities and its improvement needs are described as <br />follows: <br />1. Prior to the new City Hall Facility being constructed by the EDA in 2001, the <br />condition of the City's existing structure would have been described as poor. <br />Further, the facility contained insufficient space for employees to effectively <br />perform their duties. <br />2. The original facility did not contain adequate space for the proper and secure <br />storage of supplies and records. <br />3. The original facility was in poor structural condition as evidenced by a leaking roof. <br />F11 <br />