HomeMy WebLinkAboutBudget/Finance Committee Minutes 03.14.1985? M I N U T E S
BUDGET/ TNANCF COMMITTEE
DATE Marc 14- IqR?:; TIME 4 pm
PLACE OF MEETING City Hall
A. Members present: Chairman Bob Gauthier
Albert Ehrlick, Bill Brennan, Don Hackmann Lonnie Ke11o
B. Other's present: Bill Thorndal Torp Hughes, Jan Stingley, Ernie Davis
A quorum (3 or more) present the following action was taken by
the committee:
C,
J
JAN'S IGA - IDR BONDS: Mr. Tom Hughes from Ryan Wholesale Food
Distributors, Bill Thorndal from First Security Bank, and Jan
Stingley from Jan's IGA, discussed with the committee the possibility
of using the City.of Laurel's name for obtaining financing for a
new 15,000 sq. ft. IGA store. This would be Industrial Development
Revenue Bonds.(IDR) in the amount of approximately $1,500,000. They
already have a buyer for these bonds. The City of Laurel incurs
no liability. The City's name is used, making these tax exempt
bonds.thereby obtaining a lower interest rate.
Motion by Bob Gauthier to recommend preliminary approval for
Jan's IGA to sell 1DR bonds for the purpose of constructing a.
new super market, seconded by Don Hackmann. Motion carried 5-0.
DUMP TRUCK: Ernie Davis has been checking around on prices for a
new dump truck. Frontier Chevrolet has given a quote of about
$17,000. They advised to order by May or they couldn't get a 1985
and the 1986s would cost more money.
Motion by Bob Gauthier to advertise for a dump truck to be purchased
from equipment reserve in fiscal year 1985--86, seconded by Bill
Brennan. Motion carried 5--0. .
COPY MACHINE: The copy machine at the complex isn't working very
well. Discussion regarding moving the one at City Hall to the complex
and purchase a new one which has a reduction mode for City Hall. A
new Sharp 8200 would cost $4,195 less $1,200 by trading in the old
copier, for a net cost of $2,995. Don has $2,689 left in the Clerk's
Revenue Sharing Capital Outlay.budget and he requests that $306 be
transferred from the Police Revenue Sharing budget (there
was a $500 balance after purchasing the car) to the Clerk's budget
and purchase the new copier. Don has discussed this with Alan Crowe
and it is agreeable with him. Don said that he would like to stay
with the same vendor we have now (Midland Office) because we have
had excellent maintenance service from them.
Motion by Bob Gauther to recommend a budget transfer of $306 from
Police Capital Outlay to the City Clerk's Capital Outlay in the
Revenue Sharing Fund to purchase the new copier, seconded by Bill
Brennan. Carried 5--0.
IIMC ANNUAL CONFERENCE: The International Institute
Clerks is holding their annual conference May 19--23
conference seldom gets this close to Montana and the
Clerks Association is forming a delegation to attend
year it was in San Diego and next year it's in Bosto
of Municipal
in Banff. The
Montana Municipal
this year. Last
n.
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VI;
This is a budgeted item and the cost is estimated at about $685.
Don is asking for confirmation to attend this meeting.
Motion by Albert Ehrlick to recommend approval for Don Hackmann to
attend the 1985 IIMC Annual Conference in Banff, seconded by Bob
Gauthier. Carried 5--0.
Meeting adjourned at 4:55 p.m.
Res ectfully submitted,
Donald L. Hackmann
City Clerk
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