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CASE 5: <br /> <br />Co~nents: In discussing this with Merle, he says no to it. <br />lte states he will put in a culvert on a approachway for his <br />vehicles to enter the park through park ground. He doesn't <br />want the City to become responsible for maintaining Scully's <br />approachway through the years which could be a problem. He <br />also states there iis a secondary entranceway to this park. <br /> <br />ADOPTION REVENUE SHARING BUDGET FOR 1979: <br /> <br />Background: The following are the original proposed revenue <br />sharing uses which are still before the City Council. <br /> <br />a) Park Improvement (Titterud Park) <br />b) Grader Payment (in full) <br />c) Drainage Study <br /> <br />Total Expendable <br /> <br />$35,000.00 <br />$40,000.00 <br />$ 5,000,00 <br /> <br />$80,000~00 <br /> <br />Comments: Originally the City Administrator recommended to <br />the City Council Budget Committee and City Council that the <br />City pay off the grader. However, when I checked on the in- <br />terest rates the City was paying on the contract payable for <br />the grader (6% simple interest), it was obvious the City had <br />a good deal. The City is now getting approximately a 10% <br />yield on its investments. It is therefore, recommended that <br />the following consideration be considered in the use of this <br />$40,000. <br /> <br />a) Grader p~nment for year 1979 <br /> <br />Principal $13,940'00 <br />Interest 2,710.00 <br /> <br /> Total $16,650.00 <br /> <br />b) Drainage Study to be increased from $5,000.00 to $20,000.00. <br />This is the maximum amount that the study would cost the City <br />as it could cost less as it will done on an hourly basis. How- <br />ever, this tudy is so very critical for City development as <br />it will save the citizens down the Pike a lot of money. <br /> <br />c) City Thoroughfare Study (addition to the revenue sharing <br />budget) $5,000.00. This like the drainage study, is a needed <br />document and should have been done sometime ago as its crucial <br />to City development. <br /> <br />d) Construction of a records storeroom with shelving in <br />the basement of the Municipal:Center and shelving in the City's <br />vault (addition to the revenue sharing budget) $3,350.00. <br />Ibis cost figure has been pulled out of the air but we are <br />looking at material cost and labor costs for our own people <br />who would do this job during the winter months. We definitely <br />need this improvement for the storage of City records, <br /> <br /> <br />