HomeMy WebLinkAboutBudget/Finance Committee Minutes 05.06.19910
BUDGET/FTNANCE COMMITTEE
Date Ma 6 1991 Time 4:30 p.m.
Place of Meeting City Hall
•
MEMBERS PRESENT: Chairman
Norman Orr
Bob Gauthier
OTHER'S PRESENT:
Vicki Metzger
Jim Worthington
Donna Kilpatrick
L.D. Collins
Don Hackmann
Dave Michael
Kreq Jones
A quorum (3 or more) present, the following action was taken by
the Committee:
Kreg Jones presented a proposal to advance refund our sewer
revenue bonds. Basically what this amounts to is issuing 1991
bonds to pay off the 1983 series at a lower interest rate with
a net savings of approximately $84,000 in interest costs over
a 12 year period.
Motion by Norman Orr, seconded by L.D. Collins, that we
recommend that the City issue 1991 bonds to redeem the 1983
series. Motion carried.
The Committee reviewed the following 1991-92 preliminary
budgets:
Engineer/Department of Public Works
Water Plant
Water system
Due to increased costs of wages, utilities and maintenance,
the Committee has recommended a 6% water rate increase.
The meeting was adjourned at 6:30 p.m. The next meetings
are scheduled for May 13, 14, & 15 at 4:30 p.m.
Respectfully submitted,
Don Hackmann
City Clerk
•
r