|
Platinum Partner Websites
|
|
SAVE THE DATE:
Upcoming Board of Directors Meetings
DECEMBER 5, 2013
JANUARY 9, 2014
DMMC Conference Room
Legislative Primer for Elected Officials and Managers
SATURDAY,
JANUARY 11, 2014
8:15am-11am
DMMC Conference Room
ANNUAL LEGISLATIVE DINNER
WEDNESDAY,
JANUARY 15, 2014
HILTON - LISLE/NAPERVILLE
Upcoming Business Meetings (Full Conference)
FEBRUARY 19, 2014
Location to be Announced |
|
|
|
|
|
|
MEMBER SPOTLIGHT - Joe Breinig
In the first of a new In Brief segment spotlighting members who lead by example and help us succeed as a Conference, we are pleased to feature Joe Breinig, the Village Manager of Carol Stream and highly involved DMMC member.
Joe's relationship with the DuPage Mayors and Managers Conference began in 1980 as an intern, staffing committees and coordinating special events like the annual vehicle auction. Joe left the Conference in 1983 to work for the Village of Lombard. In 1992 he took a job with the Village of Clarendon Hills and in 2002 became Village Manager of Carol Stream. "I have been blessed to spend my entire career in DuPage County and be directly involved with the Conference. I've received much more from this association and from the sharing of information than I could have ever given. I have had the opportunity to see the best each community in DuPage County has to offer and been humbled to stand shoulder to shoulder with our elected and appointed officials."
In typical "Joe fashion," when asked about his contributions he turns the spotlight on others: "What stands out to me are the people." He easily names dozens of DMMC leaders: Ganet, Palmer, Birdsall, Stramaglia, Rennels, Griesemer, Devlin, Carmignani, Cheever, Lund, Martin, Bielawski, Marcucci, Bushy, Arrington, Murphy, Ferraro, Mueller, Oglietti, Webster, Srch, Johnson, Brummel, Hartwig, Perry, Iden, Broda, Smolinski and Craig." He goes on "I could (and should) mention other names but space does not permit. These folks typify the officials who give of themselves selflessly to further their communities, the county, and the region." He concludes, "What is remarkable is the diversity and commitment, men and women from all over the county stepping forward to improve our area. New names will continually come forward, but the commitment and shared vision for a better future will remain a hallmark of the Conference."
From former staff to long-time Board member, Joe has helped to shape the Conference and shows that participation is what makes the Conference strong. Whether attending a Committee meeting, leading a Board discussion, engaging the full membership at a monthly business meeting, or accompanying mayors to Springfield - the on-going presence of members like Joe helps the Conference succeed in matters large and small. Thank you, Joe! |
|
2014 SPRING LEGISLATIVE SESSION
The House and Senate calendars for the 2014 Spring Legislative Session have been released by legislative leadership. Spring Session is scheduled to begin Wednesday, January 29, 2014 with the Governor's State of the State Address. The calendars can be viewed by clicking on the following links (House) (Senate). |
|
SAVE THE DATE 2014 LEGISLATIVE RECEPTION & DINNER
The Conference is hosting its 2014 Legislative Reception & Dinner on Wednesday, January 15, 2014 at the Hilton Lisle/Naperville. This is an annual event during which the Conference's proposed 2014 Legislative Priorities will be presented. DuPage area legislators are invited to join us for the evening to share their thoughts on our priorities and the upcoming spring session. Attendees may look forward to small intimate discussions at each dinner table. Please reserve this date on your calendar. |
|
Congratulations to Hanover Park President Rodney S. Craig on his election to the Illinois Municipal League Board of Directors.
President Craig joins Lisle Mayor Joe Broda, Bolingbrook Mayor Roger Claar, and Aurora Mayor Tom Weisner, who were previously elected to the IML Board.
The IML is a non-political association with members from 1,124 Illinois municipalities whose mission is to promote the interests and concerns of Illinois communities. |
On November 11, 2013, DMMC lost a great friend, William H. Rahn. Bill is described by those who spent years working with him as a "kind and gentle, dignified and stately" leader who always put people first. Bill's goal was to make Westmont an ideal place for people to live and raise their families.
On March 20, 2013, DMMC approved a Resolution of Commendation for William Rahn in recognition of his service to the Conference as a member of the Board of Directors, Director and Deputy Director of the Planning Committee, and member of the Intergovernmental Planning Committee. Bill's contributions benefited the Conference in ways too numerous to count. He dedicated a lifetime of energy and insight to the betterment of the Village of Westmont.
Bill will be sorely missed. |
|
DID YOU KNOW??
- The Village of Addison was originally known as "Dunklee's Grove", and began as a farming community.
- German was the main language spoken and, in fact, the official Minutes of the earliest Board Meetings were written in German.
- The Village of Addison became incorporated in 1884, and will be celebrating its 130th anniversary next year.
|
|
STP UPDATE
On Wednesday, November 20, the Conference approved the FY 14-19 Surface Transportation Program. The program is worth a total of $15,562,401. Twenty-three new projects and one resubmitted project (18 Highway, 6 Transportation Control Measure) will be fully funded. An additional HWY project and TCM project will be partially funded. Award letters will be sent to project sponsors by December 6.
For more information, please contact Mike Albin, Transportation Project Manager, at 630-571-0480, ext. 222 or malbin@dmmc-cog.org |
|
PLATINUM PARTNER CORNER
 For many tax-exempt borrowers, the current competitive banking and low interest rate environments are providing an opportunity to finance new money projects or refinance existing debt through Direct Bank Placement (DBP) bonds.
A DBP structure is direct loan from a commercial or investment bank at a tax-advantaged interest rate. The spread over a variable or fixed index is determined based on the credit quality of the borrower and the tenor of the put period. Additionally, a tax multiplier is applied to the rate and is dependent upon whether a transaction is considered bank-qualified or non-bank-qualified, and varies by financial institution based on the institution's tax position. As a tax-exempt bond, the financing must be issued under a qualified authority with a bond counsel determining a security's tax-exemption qualification.
Many commercial banks currently have an oversupply of deposits and wish to offset these by increasing assets. Specifically, there is a demand for high credit-quality rated tax-exempt securities by banks, resulting in decreased credit spreads paired with attractive terms and conditions for DBPs. Additionally, new regulations are providing banks with incentives to shift away from issuing letters of credit with the anticipated implementation of Basel III in 2015 which will require financial institutions to increase liquidity and capital requirements for letters of credit.
Reduced Risks, Historically Low Rates
Borrowers with new financing needs should consider DBPs, particularly if they have an existing concentration in variable-rate demand bonds (VRDBs). Unlike a traditional VRDB structure, DBPs have no daily or weekly remarketing risk, no counterparty risk and no disclosure requirements.
Organizations weighing their refinancing options should also consider DBPs, particularly if they have outstanding bond issues with 15 years or less in amortization. And if their credit quality is strong enough, borrowers may have the opportunity to fix rates for the remaining life of the bonds at the current historically low fixed rates.
Borrowers evaluating DBPs should weigh their options with financial institutions experienced in tax-exempt financing. Such institutions will be familiar with bonded debt that is on parity with existing outstanding debt and will understand how to structure a DBP appropriately. Finally, borrowers will need to give careful consideration of required performance covenants and event of default triggers.
Please click here to view chart (PDF) |
SPC UPDATE 1 - Ford Announces Cut Off Dates
for 2014 Super Duty F-Series Pick Up Trucks
Ford Motor Company has announced that their factory cut-off date for the F-series Super Duty Pick Up Trucks is January 6, 2014, but 6.8L V-10 engine versions must be ordered prior to November 27, 2013. If you are unable to make those dates, please work with your SPC vendor to make arrangements to preorder, so that they have inventory available. The 2015 Super Duty vehicles are expected to be introduced early next year, and the SPC will issue Requests for Proposals as soon as specifications are released.
The following Super Duty Trucks are available from Currie Motors, Frankfurt, IL:
Ford F250 XL Regular Cab, 2WD SPC Contract #103
Ford F350 XL Regular Cab, 2WD SPC Contract #104
Ford F450 XL Chassis Cab, 2WD SPC Contract #105
Ford F550 XL Chassis Cab, 2WD SPC Contract #106
For additional information or questions about these 2014 vehicles, please contact Tom Sullivan, 815-464-9200 or CurrieFleet@gmail.com
The following Super Duty Trucks are available from Freeway Ford, Lyons, IL:
Ford F150 XL Regular Cab, 2WD SPC Contract #111
Ford F350 XL Chassis Cab, 2WD SPC Contract #107
For additional information or questions about these 2014 vehicles, please contact Peter DeMeis, 708-852-3192 or pdemeis@gmail.com |
|
SPC UPDATE 2 - SPC Approves 2014 Ford Police Interceptor Contract Extensions The Suburban Purchasing Cooperative (SPC) Governing Board has awarded the second of three possible contract extensions to Currie Motors of Frankfort for the 2014 Ford Police Interceptor Sedan Contract #121 and 2014 Ford Police Interceptor Utility Contract #122. The contract extension will run from November 9, 2013 through November 8, 2014. Ford Motor Company has increased prices on the 2014 SPC Contract base models as follows, with option pricing remaining the same:
|
SPC Award Price
Cost Increase
2014 Price |
Ford Sedan # 121
Police Interceptor AWD
$22,986.00
$ 225.00
$23,211.00 |
Ford Utility #122
Police Interceptor K8A AWD
$24,558.00
$ 242.00
$24,800.00
|
It should be noted that Ford's base prices for non-SPC contract participants are $3,177.00 higher for the Sedan and $3,438 higher on the Utility, even with the proposed 2014 price increases. Please contact Tom Sullivan, 815-464-9200 or thomasfsullivan@sbcglobal.net or Suzette Quintell, Operations Director, 630-571-0480 x227 or squintell@dmmc-cog.org |
|
CORPORATE PARTNERS
The DMMC Corporate Partners program provides an opportunity for participation by organizations that share a common commitment to the well-being of DuPage County municipalities. Corporate Partners gain high visibility among member communities through such means as meetings, workshops, publications, annual events, and sponsorship opportunities. For more information on the Corporate Partners program, contact Suzette Quintell, Operations Director, at (630) 571- 0480, ext. 227 or visit the DMMC website. |
Our partnership with Obenauf Auctions to offer an on-line option for our members in lieu of our previous semi-annual auctions has proved very successful for the DMMC and our members.
So as a reminder, if you have any municipal surplus or outdated and/or seized vehicles to dispose of, the on-line auction through Obenauf Auctions is a great time-saving, cost beneficial way to go.
Participation in these programs helps keep dues down, in addition to benefiting our members. Please consider participating in this venture. Contact Suzette Quintell with any questions. |
IMET CONTINUES TO PROVIDE STRONG PERFORMANCE, SAFETY, AND LIQUIDITY TO MEMBERS
The IMET Convenience Fund (CVF) enhanced rate for October 2013 provided members with an outstanding annualized rate of .33% and a 12-month return of .34%. The enhanced rate may change on a daily basis and is posted on IMET's website each day.
The CVF portfolio is comprised of FDIC insured deposits and CDs, collateralized CDs, liquid bank deposits collateralized by the FHLB LOC program, overnight repurchase agreements collateralized by Federally guaranteed loan pools, U.S. Government Securities, and liquid bank deposits collateralized at 110% with government securities. The CVF is managed so as to maintain a stable $1.00 share price.
IMET's 1-3 Year Fund produced a strong net one-month return of .06 percent as of October 31, 2013 (.72 percent annualized) and a net one-year return of .25 percent as of October 31. IMET's 1-3 Year Fund performance for the 12-month period ending October 31, 2013, provided a total return of 0.49% on a gross of fees basis. The total return was 4.11% since inception, equal to the benchmark, Barclay's Capital 1-3 Year Government Index, which also provided a 4.11% total return for the same period.
IMET has consistently served - and continues to serve - as a solid intermediate-term investment for its members. IMET's 1-3 Year Fund continues to invest exclusively in US Government Securities including Treasuries, Agencies, and Agency mortgage backed securities, only the safest investments permissible under the IL Public Funds Investment Act.
The Illinois Metropolitan Investment Fund (IMET) was developed in July 1996 as a cooperative endeavor to assist Illinois municipalities and public entities with the investment of their intermediate-term dollars. IMET was established as a not-for-profit investment fund under the Intergovernmental Cooperation Act of the Illinois Municipal Code and is sponsored by DuPage Mayors and Managers Conference. For more information: www.investIMET.com |
|
DMMC IS ON FACEBOOK AND TWITTER
"Like" DMMC on Facebook and follow us on Twitter for information about upcoming events and Conference activities. |
|
|
Founded in 1962, the DuPage Mayors and Managers Conference is a council of municipal governments representing over 1,000,000 people. A coalition of cities and villages, the Conference works to voice municipal concerns on local, regional, state, and national issues. It also serves its members and the region by fostering intergovernmental cooperation. The Conference is a not-for-profit organization supported by membership dues and grants.
(c) 2012 DuPage Mayors and Managers Conference |
|
|
