my name is norma nelson. i'm the contract manager for the port. i'm here to present this item. first of all, i would like to acknowledge the existence of the new supervisor for helping me, too. i appreciate that very much. with that, i would like to give you some highlights of the report by way of a background on the current city policy, the reason why this policy would be helpful. basically, there are two sections of the administrative code that govern the resolution that is before you today. it is currently at a dollar threshold of $400,000. then, there is chapter 6 of the administrative code that governs professional services which currently add a $100,000 threshold. that is the amount that is authorized to city departments under the direction of the city purchasers. the port commission has a single dollar threshold amount for both of those types of bonds, and that type of threshold least $50,000, and that dollar threshold has been in place since the 1980's, and the resolution before you today is our proposal basically to adjust the conflict in the dollar amount that the por