Minutes - Council - 01/12/1976 - Laserfiche WebLink

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~. Page h 1/12/76 . Coun6ilman Gorham asked Administrator Walker about bonding& Administrator 1!lalker replied he has talked to a bonding firm\] Shaughne,'3sy & CO"7 St 0 Pau19 and they s3.id the bond J'ating should be applied for Tilhen the City is ready to ra=~se tJ18 bondo !{e added further that the best rating the City could expect ~rould be a 81\1\0 '. . Councilman Reimartn questioned hOlfJ long it vIOu.ld take to receive a rating once it is applie~ foro .IIe ~aid.Admi~i~trator Walk~~ should request a respon.se j~ rom thls f:LYT! In \n"'ltJ!...g so the CJ_-cy will not be detained once they are ready to procGccio He added that he wc:ult,ed a guarant,ee of a .time sC~1edule fOT' acqui;."ing a bon.d rating 0 Administrator Walker sa~d someone would have to be hired to get the rating for tJ1e City and suggested that; Counc:1.1 invite the firm .to a meeting to discuss the bonding situation vith the Councilo Councilman Reimann asked if it would cost anything to get a bond ratingo Administrator Walker. replied affirmatively stating that it would require a lot of corresponclingo Ma3!or. Cox com~ented t~:at COlmc~~l should have. a report from the blUldulg conmnr,T,ee bee ore so(;]ang a bond ratlngo . Mayor Cox asked Admi:nistrator vIalker to schedule a meeting wi tll Shaughnessy & Coo . 1975 AUDIT Administrator hTalker read a letter from DeLaHunt Voto in vvhich the)T Sllb111ittecl [1 l)5.cl t)0 ]')e~lfoT.(n "tl1e J.9t75 j\.11d~:Lt~ .f~o:c t~he Ci.Acyo Their bid is ~n th~ am01m'~~ or ::2 ~ O~)O <;rJ.cl ~pe(?iLtef) tha:t the sJcaL~' irvil~ be requlred to as;:;ouble ct 10\-, O'C maT:er1.als toget11er' for th:LS prlceo Councilman Reimann questioned the amount of Hork to be done by the staff 0 Administ,l"at,Oi' \Talker read the list of duties to be performed by the staffa Councilman Gorham 8.~')ked if other firms had been contacted to bid on performing the 8.n:lit f'or the Ci ty 0 Administrator VJaJkol' said he spoke to Grady Aldermann and the pric e he qu.oted I"TaS S1:.) 000 0 n . Mayor Cox stated that, DeLCJ.Ihmt had prepared the previous audit and at the completion said they vould be able to the the 1975 audit for a lesser amount because they Hould be familiar with the books and nOl;,! they 'iJant E:;2 9 000 0 Mayor' Cox commented he feels this is highly irregularo Councilman Reimann agreed with Mayor Cox and said the audit should be let for bido Administrator Walker said that was not necessary and the reason he recommends DeLaHunt do the audit is because they are familiar with the bookso Councilman Reimann retorted if they are familiar with the book why do they need $2,000 to do the audit? Mayor Cox stated that Council is not pleased wi t,l1 the DeLaHunt proposal and instructed Adminis'(~rator WaJJcOJ.'" t,o convey thi[; to them and see if they are in rested in submitting a lower bido Councilman Reimann reiterated thCJ.t the audit should go out for bido Mayor Cox tabled this matte=:" LJntil the next meetingo