09-29-1987 CC MIN - SPECIAL - Laserfiche WebLink

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Page 9 City Council Budget Meeting September 29. 1987 ~ The ECONOMIC DEVELOPMENT AUTHORITY budget calls for a levy of three fourths of a mill which would generate approximately $37.500. All of these funds would be used to pay for consulting services and different parts of the City marketing plan. The Administrator noted to the Council that with uncertainties about different revenues being available for the City in 1988. that a request to certify the City's tax levy would be done prior to the official budget being approved. These levy requests to the City would be done on October 5. 1987. and on October 7. 1987. following the Economic Development Authority Meeting. The Staff then requested the Council to authorize the purchase of the fuel system listed under the 1988 Equipment Certificates Special Levy as it was desired to have this system in place before winter. Finance Director noted that such a purchase in 1987 using 1988 funds was possible. COUNCILMEMBER TRALLE MOVED TO APPROVE EXPENDITURES IN THE AMOUNT OF $26,700.00 FOR THE PURCHASE AND INSTALLATION OF A CITY WIDE FUEL SYSTEM AND THAT 1988 EQUIPMENT CERTIFICATE FUNDS BE USED TO FINANCE PART OF THIS PURCHASE, AS ELIGIBLE BY STATE LAW. COUNCILMEMBER SCHULDT SECONDED THE MOTION. MOTION PASSED 4-0. ~ It was noted that the actual tanks for this fuel system would be $11.628.60. This amount is known because of the low quote that was acceptable to the Council from the Hale Company. The remaining expenditures included approximately $6.000 for the installation of the tanks. $4.000 for the card identification system. and $5.000 for concrete. electrical connections. dispensers and supplies. It was further noted that only the legally acceptable items of this fuel storage system would be purchased through the Equipment Certificates. It was anticipated that this amount to be financed through Equipment Certificates would be approximately $24.100. The Finance Director requested the Council to approve a motion authorizing the City to exceed the scheduled levy for Bond repayments based on additional funds being needed for improvement projects that have fallen behind schedule. COUNCILMEMBER DOBEL MOVED TO AUTHORIZE THE CITY TO EXCEED ITS BOND REPAYMENT SCHEDULED LEVY IN THE AMOUNT OF $5.000 FOR THE 1982 SEWER EQUIPMENT BOND AND $19,510 FOR 1980 IMPROVEMENT BOND. COUNCILMEMBER SCHULDT SECONDED THE MOTION. THE MOTION PASSED 4-0. It was the consensus of the Council that at the 10-5-87 Council Meeting it would review the City levy request that needs to be approved and sent to the County by October 9. 1987. This levy request would include the needed funds for the 1988 Equipment Certificate purchases. the maximum allowed by the state for general fund activities and the required amounts for bond repayment according to the schedules on file at City Hall. ~