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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 -2- 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. - 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. "V