HomeMy WebLinkAbout04/09/1985April 9, 1985
Special Council Meeting
City Hall Council Chambers
7:00 p.m.
Roll call: Getty, Lichty, Penaluna, Seeber, Dawie, Wright. Absent:
Klinger. Mayor Bowers in the Chair.
87205 - Moved by Lichty, seconded by Dowie to receive and place on file the
copies of the call. Motion carried.
87206 - Moved by Wright, seconded by Lichty that the Agenda as proposed, for
Special Session of April 9, 1985, be accepted and approved.
Motion carried.
87207 - Laverne Petrie of the Employees Reorganization Committee of the Rath
Packing Company asked the Council to agree to a loan of the
Reorganization Committee regarding the expenses incurred by G.N.B.
Investment Bankers Group for putting together a finance package for
the Reorganization Committee.
Brian Burns of G.N.B. Investment Bankers outlined a preliminary
financial package for the Employees Reorganization Committee
regarding Reorganization of the Rath Packing Company. Burns stated
that the $15,000 request to the City was for the expenses that would
be incurred in putting the package together.
Councilperson Dowie stated that the Council needs to remain neutral
in the reorganization plans for the Rath Packing Company.
Councilperson Seeber stated that he felt that the reorganization
committee of the Rath Packing Company needed the support of the
Council and their efforts to save the Rath Packing Company.
Moved by Getty, seconded by Lichty that the bills incurred by G.N.B.
Investment Bankers in their effort to secure a financial package for
the Employees Reorganization Committee of the Rath Packing Company be
submitted to the City Clerk/Auditor for review and that the Council
authorize payment of said bills up to a total amount of $15,000, and
the Mayor and Clerk/Auditor be authorized to sign the Loan/Agreement
as presented by City Attorney Dave Tyler. Ayes: Six. Absent:
Klinger.
Resolution adopted and upon approval by Mayor assigned No. 1985-144.
87208 Moved by Lichty, seconded by Wright that the City Council meet in a
Special Council Session to further discuss the Employees
Reorganization Committee plan at 4:30 p.m. Thursday, April 11, 1985,
in the City Hall Council Chambers and the Clerk/Auditor be instructed
to post notice of same. Ayes: Six. Absent: Klinger. Motion
carried.
87209 - Moved by Getty, seconded by Lichty that the Council Meeting be
adjourned. Motion carried.
Larry P. Burger
City Clerk/Auditor