HomeMy WebLinkAbout05.17.1999COUNCIL WORK SESSION
May 17, 1999
5:15 p.m.
Council Chambers
Members present: Mayor Rooff, Getty, Murphy, Jordan, Gronen, Anders.
Members absent: Krizek, Collier.
Moved by Anders, seconded by Jordan that the Agenda, as proposed, be approved. Ayes: Five.
Absent: Krizek, Collier. Motion carried.
Bruce Meisinger, Finance Manager, reviewed the proposed amendments to the FY 1999 Budgets.
A hearing must be held and any amendments to the current budget must be approved no later than
May 31 of each year. Budget amendments are primarily changes in revenues and expenditures that
occur after the original budget has been adopted. Amendments must be offset with a revenue or
fund reserves and cannot change the property tax levy for that fiscal year.
Bruce Meisinger, Finance Manager, reviewed the proposed issuance of $9,835,000 in General
Obligations Bonds. Three separate hearing will be held on Monday, May 24, 1999. Most of the
projects to be financed will be included in the $8,470,000.00 of essential corporate purposes. The
remainder of the projects and equipment being financed has been included in two separate
hearings of $700,000.000 each. This is necessary because the Code of Iowa limits the funding of
individual general corporate purposes to no more than $700,000.00 per year. Mr. Meisinger
reviewed the listing of the proposed individual projects to be funded by the bonds. The largest
single item on the list is $4 million for the continued construction of the new waste water
treatment facility to be financed with general obligation bonds.
With no further business before the council, it was moved by Getty, seconded by Jordan that the
meeting be adjourned at 5:55 p.m. Ayes: Five. Absent: Krizek, Collier. Motion carried.
Nancy Eckert
City Clerk