HomeMy WebLinkAbout1984-02-07 Finance Committee MinutesFinance Committee
February 7, 1984 p 4:00 p.m.
Minutes
Present: Councilor Jim Cox, Chairman_ -
Councilorl$en Jordan -'
RoR Weniwp th Data Pracesaing
Ted Jellison, Finance Director
Sally Thompson, Community Development
Tom Russell, Asst. City Solicitor
1. Community Development.
The Committee approved two loans as presented by Sally
Thompson of the Community Development staff.
2. Authorizina Subordination Aereement for 'Community Development
Loan.
The Finance Committee approved the subject agreement as
presented by Tom Russell.
3. Computer Proposals. .
The Committee authorized a Council Order to be prepared for
the February 13th agenda recommending. acquisition of the
proposed computer system as outlined by the Finance Director
and DataProcessingDirector. The Order will authorize the
City Manager to enter.into a contract with the Sperry Corp.
for the purchase of a System 80, Model 8 computer, to enter
into a. seven`yea;_:lease agreement for acquisition of external
equipment for the new system, and will authorize $200,000
to betransfered from the Reserve -Bus Equipment to the Capital
Improvement Fund Computer Project Account which will be
established by the Finance Director. Financing for the
purchased items will be accomplished through an internal
transfer with repayment on an annual basis with interest at
8% over a seven year period.
The proposal includes the replacement of our existing system
through the purchase of the central processing unit, internal
control units and mass storage devices. The card reader,
printer and terminal. equipment will be on a lease basis.
Adjourned at 5:40 p.m. Ip