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HomeMy WebLinkAbout1985-04-19 Finance Committee MinutesFinance Committee April 19, 1985 at 4:15 p.m. Minutes Present: Councilor Jim Cm:, Chairman Councilor John Gass Councilor John McCarthy John Flynn, City Manager Ted Jellison, Finance Director Fad MUUy, Community Developmant Dave Pellegrino, Purchasing Agent John Frawley, City Engineer 1. Commercial Insurance Package. The Finance Director indicated be bad mmivred the renewal quotation for the wmercial insurance package. last year the city paid a total of $48,000 Mich incluCod general liability, property, inland marine and automobile. The opine for the same package this year is $188,000. At his request, Pat Lavoie and Mike McGinnis of the Caning, Agency were present to discuss the increase and possible alternatives. They explained that their role as agents and brokers is to search the market and deliver the beat possible quote to their clients. in the city's case, the Hartford Insurance Company was the lowest quote at $188,000: The automaWle portion being $71,000 arch the general ombined liability being $117,000. Mr. I y indicated that same businesses are eliminating buildings that don't need to be insured arch are increasing deductibles. The Dunlap Agsncy will supply a rJeduls of Citya buildings that currentlyam nd covered with a premium awill cam back to the Committee when these quotations are received from the Hartford. The Committee took no action an this item. 2. Ccmunity Development. Ibe Camuitme approved one deferred loan application as pmsented by the Community Demlcpsont DireM . 3. Bhis• a Paving Stares. Cmmittee approved purchase of the paving stones tram Landscape Products, Inc., the lop bidder, at $1.33 per square foot. b. est. Yearly Requirement of Asphalt and Tar. 'ire Committee approved purchase of the emisrfrea asphalt from hermit Paving Materials, Inc., the onlyl bidder, at $.85 per gallon. They further approval the purchase of hot top mix from Lace Construction Carp for plant mix at $28/ton, curb mix at $33.75/ton, and cold patch at $30.75/ton. -2- c. Decorative Street L1 _h�ls.�. TM cuimittee approved purchase of the sixteen lig' hts fzon Spring city Electrical Mfg. company, the only responsive bidder, at a total of $18,910.00. d. Granite�Cnab' The Gxwittee reuamanded purchase of the granite cuebirg Eran Maine anfi New Hasp h to Granite corp., the only re- sponsive bidder, at $10,131.34. f. Ke�uskeao Stream Footbridge. The Committee approved award of contract to Ewing Construction Company, the low bidder, at $81,900 W furnish ami install a 200' x 8' footbridge. g. Trees., Ilm Casmittee recamsnded the purchase of 40 Lindens at 16�0 neach from Sprague's Nursery. 4. Feaearch and Feview Gram. Ila Committee mored 2 to 1, with McCarthy in the negative, on a motion W indefinitely postpone Council Resolve 85-159. S. Reeltin Insurance emsultants. The committee agreed to meet on Friday, April 26Un at 3:00 p.m. to interview two health insurance consultants. Tho Purchasing Agent will coordinate the interviews with the two consultants. 6. Extension for Sale of Property. Tre caumittee agreed with tie Purchasing Agent's tecouranda[ion not to grant any extereiore on sale of property to two ir�dividuals wbo had recently contacted Mr. Pellegrino requesting an extension. Committee adjourned at 4:58 p.m.