HomeMy WebLinkAboutBudget/Finance Committee Minutes 04.21.19861
M I N U T E S
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BTIDGET/FTNANCE COMMITTEE
DATE ApKil 21, TIME 4:20 n.m.
PLACE OF MEETING City Hall Conference Room
A. Members present: Chairman Rob Harris
. Donna Kilpatrick 9
Bob Gauthier
Don Hackmann
B. Other's present: Jim Flisrand 2 Ernie Davis
A quorum (3 or more) present the following action was taken by
the committee:
1986--87 budgets were reviewed:
SNOW REMOVAL /a c,-1/(?
It was recommended by the committee that an assessment of $7.00
per 4200 sq. ft. lot be made, for an approximate amount of
$45,000. There has not been an assessment since 1981. Included
in the expenditure budget is $9,600 for Capital Outlay to purchase
an adapter blade for the grader and a plow for the front of a
dump truck.
SWEEPING DISTRICT
The new sweeper purchase was discussed. It was recommended to
make a $36,310 down payment and finance the balance of $45,000
over a 3-year period. Jim has received informal bids from both
local banks and each one bid 8%, which is a little less than
financing it with L & L Equipment.
Since Yellowstone Bank has financed several of our purchases in
the past, the committee recommended that this one be awarded to
First Security Bank.
If the old sweeper is sold, the money could be used for one of
the annual payments on the new sweeper.
The committee recommends no increase in the 1986--87 assessment.
STATE GAS.TAX
A new law was
towns and 3rd
allotment for
mately $24,70
The committee
approximately
passed in the 1985 legislative session to allow
class cities to spend up to 25% of their gas tax
street equipment. For Laurel this would be approxi-
4.
recommended to budget for a new chip spreader for
$13,000 and an asphalt cutter for about $1,800.
t?
page 2
Budget/Finance
is April 21, 1986
STREET and CITY SHOP budgets were also reviewed.
Meeting adjourned at 6:20 p.m.
Respectfully submitted,
Don Hackmann, City Clerk
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