HomeMy WebLinkAbout1985-09-06 Finance Committee MinutesFinance Committee
September 6, 1985 at 4:00 p.m.
Minutes
Present: Councilor .Tim Cox, Chairman
Councilor John McCarthy
Council O airman loco Davis
Councilor terry Willey
John Flynn, City Manager
1bd Jellison, Finanna DireCtor
John Field, City Treasurer
Sally Thospson, Camunity Oevelotuent
Dave Pellegrino, Purchasing Agent
Cele Theriault, Parka 6 Recreation DireCtor
Austin Kelly, Golf Course Superintendent
John Frawley, City Engineer
1. Community Cevelomrent.
The Camattee approved a deferred loan for property at 18 Nelaon Street
and a loan for property at 106 Forest Avenue. Willey felt that the loan
guidelines as well as the incase limits should be reviewed by Ne Council.
2. Architect for Golf Course.
The City Manager indicated that a preliminary layout plan was needed
regarding a possible ezpareion of tba Golf Course. The fee given by Jeffrey
Oanish, who was the architect for Uc anginal J8tnle golf course, is
$2,500.00. Ile moray will come from the existing Golf Course budget. Thar
Covmittee received a copy of a nano from the Finance Director outlining the
operating results of the Golf Course from its opening day On July 9, 1964
until Jure 3D, 1985. The Camittee agreed with the expenditure end asked
that it be brought to the full Council's attention at their Informal session
on September 9, 1985.
3. Investment Policy.
DauncilOr Tilley called the City Manager indicating he world like to to
on record asking that the section on Reporting read that a Copy will go to
the Finance Committee and all City Councilors. The City Treasurer discussed
Item 5 under Investment Principles referring to collateralizing by financial
institutions indicating it could most the City extra money as the banks have
to set aside securities to cover what has been deposited or invested above
the $100,000 insurance limit. After further review of the policy, the staff
suggested that terminology to removed from the policy. The Cnnvnfttee agreed
win the change in terminology. A Council order will be prepared by the
Fnnanoa Director.
4. Council Order 85-303 - Autumn Street City-mmed Property.
Dana Devoe hand delivered a letter to the City Manager shortly before
the Finance Cmmittee meeting regarding this item. Mr. Dewe -represents
Stephen Rich who washes to purolmse the Autism Street propetty. W. Devoe
states the bank will not issue a mortgage based upon a license and asked
that the Camittee agree to sell the property Outright. Ibe City Solicitor
eemsoended the property be sold to Mr. Rich with an understanding that the
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City may not be able to oanvey the fee but only give a license to occupy the
property for parking purposes because of the property's inclusion in the
plan for the Renduskeag Stream Park. The Committee remnmMed approval of
the Council Order.
5. Hills:
a. Installation of Chain Link Fence. Award was made N Superior Fence
Compnny,the lcv bidder, at 3,3X4.00.
b. Burner Replacement. The Committee approved the replacement of two
burners to he dors by Hortech Services at $5,990.00., the low bidder.
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Councilor Davis did not sign the bid form.'
C. Dump Bodies. The Committee remmanded purchase from Hewes Co.,
Inc., the low responsive bidder, at $11,000 for the three bodies.
d. steel and Angle Iran. The C ittee recommended purchase of the
items from G Meals, Inc., the low aggregate bidder.
e. Demolition of Steam Plant a Chimney. Committee agreed to ward the
contract to Hughes Bros., Inc., the law bidder, at $9,000.00.
f. Heating Systems Connection at Airport. The Cc mittee re¢mmended
warding the contract to connect the two heating systems to Mortech
Services, the low bidder, at $29,200.00.
g. Cash Register. The Committee agreed with the purchase the cash
register for the lrea Department from Higgins Office Products, Inc.,
at $5,000.00.
6. Emergency Pnrchese - Cace Front Axle Parts.
The Purchasing Agent indicated ro the Committee that $4,265.62 worth of
parts were purehasad far a front ens loader on an emergency basis.
7. Tro-Nay Radios - Airport.
11e Committee .approved the low bid of 2 partable and 4 mobile radios for
the Airport vehicles from Motorola at $3,1%.26.
Committee adjourned at 4:53 p.m.
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