Agenda - Council - 01/08/1985 - Laserfiche WebLink

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I I I I I I I I I I I I I I I I I I CASE ~2: Ite~ B: Receiving Feasibility Study_ for _Mr. Jim Battenberg.,s_ Drain- ~he City E~gineer was unable to oomplete his report and therefore this itu will be presented at your next regular meeting of January 22, 1985. UTILITIES: Item A: Request for Authorization of Temporary Loan from General Fu~d_to ~ater Dtilitw_ Fund: ~he purpose of the temporary loan from the General Fund to the Water Utility Fund will be to enable the Water Utility Fund to purchase water meters. You oould buy this item through the General Fund, how- ever, I would recommend that these meters be purchased through the lity Fund. Further, I reoonm~nd that you lend the requested to this fund and that it be done by a loan agreement for a five year period of time. The Charter does provide for interfund loans. If you desire not to purchase the water meters by either of the above methods, you should state bow you would like to handle Item B below. Please refer to enclosure (D2-b) for the proposed resolution author/- aing the temporary loan. Action: Your action will be to approve/disapprove of making a temporary loan from the General Fund to the Water Utility Fund for a period of five years. ~he interest rate used would be the average interest paid on invested City funds for the previous year. The following proposed motion is hereby submitted for your oonsideration: ~ Motion by -~--~ ...... and seconded by 0~~-~'~ to adopt j.J-~-~Resolution ~5-3 authorizing a fund transfer by'{em~orary loan //ut~n~ ~in the amount of__~~.00 from the General Fund to the Water / ~%.u"/~]--t-il-ffqy-Fur~--'Pl'ease refer to resolution file for Resolution .....~/~ ~85-3.- .~5t~3o~ carried. Voting yes ~ . Voting no ~._ ........ Item B: Awardin~ of Price O~otes for Water ~his item was tabled at the last regular meeting so as to allow anyone interested to atter~ a meter demonstration put on by Rockwell. The City Engineer, Street Superintendent, Councilmember Schlueter and Building Official attended this demonstration. Enclosure (D2-c) con- tains the original reoommendation of the Engineer, the follow-up pre- p~red after the ~nstration and the proposed resolution awarding the quote to Davies Water Equipment. Please note that the reeommendation has not changed.