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neighborhood cannot contest the development. There is a collector street that goes through the <br />development, but there is not a county road or amenities near the site. Neighbors are already <br />concerned about traffic that comes through the development at a high rate of speed. She <br />requested that the Council keep the land use consistent with the neighboring development. <br /> <br />Case #11: Report from Finance Committee <br /> <br />The Finance Committee met on December 18, 2001 to discuss the following cases: <br /> <br />1) <br /> <br />Second Reading-An Ordinance Amending Chapter 3 and Repealing and Replacing <br />Section 3.40 Entitled "City Funds" <br />The Finance Committee recommended that the City Council adopt the ordinance <br />amending Chapter 3 known as the Operations and Administration Chapter of the City <br />Code; an ordinance amending Chapter 3 and repealing and replacing Section 3.40 <br />entitled "City Funds" <br /> <br />Councilmember Zimmerman stated that he had voted against the adoption of the <br />ordinance, because he felt that certain funds o£the City should be kept in tact for exactly <br />that purpose so there is accountability. He felt that every fund should stand on its own <br />merits. <br /> <br />Councilmember Anderson stated that in her opinion the changes seemed to make <br />common sense. By making the changes they are not trying to "rob" funds, but make <br />sense of the verbiage. <br /> <br />Councilmember Kurak explained that the equipment revolving fund had required that the <br />City have enough funds to pay cash for anything that needed to be replaced, which was <br />impossible. Because of that requirement, the City was collecting interest of over a <br />million dollars that the City could not touch because of the verbiage. So instead of taking <br />out a bond to purchase the excess equipment, they chose as a Council to correct the <br />wording in the ordinance to permit the City to use the excess funds to purchase the <br />equipment. <br /> <br />Motion by Councilmember Hendriksen, seconded by Councilmember Anderson, to adopt <br />Ordinance #01-27 amending Chapter 3 known as the Operations and Administration Chapter of <br />the City Code, and ordinance amending Chapter 3 and repealing and replacing Section 3.40 <br />entitled "City Funds". <br /> <br />A roll call vote was performed by the Recording Secretary: <br /> <br />Councilmember Kurak: aye <br />Councilmember Zimmerman: nay <br />Councilmember Hendriksen: aye <br />Councilmember Anderson: aye <br />Mayor Gamec: aye <br /> <br />City Council/December 18, 2001 <br /> Page 24 of 27 <br /> <br /> <br />