HomeMy WebLinkAbout01/08/1996 FINANCE COMMITTEE
January 8, 1996
4:30 p.m.
Large Conference Room
Members present: Krizek, Getty.
Members absent: Mollenhoff.
Moved by Getty, seconded by Krizek that the Agenda, as proposed, be
approved. Ayes: Two. Absent: Mollenhoff. Motion carried.
Moved by Getty, seconded by Krizek that the Minutes of January 2,
1996, as proposed, be approved. Ayes : Two. Absent: Mollenhoff.
Motion carried.
The following bids received for appraisal services in conjunction
with Martin Luther King Jr. Drive, Contract No. 1A were reviewed:
Bidder Bid Amount
Valuation Services (dba Jones Appraisal Service) $ 5, 050 .00
Hertz Appraisal Services $ 7,800 .00
Hayes Appraisal $11,000.00
Appraisal Associates No Bid
Appraisal Associate Co. No Bid
Mr. James H. Graham No Bid
It was the recommendation of the City Planner that the low bid
submitted by Valuation Services Inc in the amount of $5,050.00 be
approved. Moved by Getty, seconded by Krizek that said
recommendation be approved. Ayes: Two. Absent: Mollenhoff.
Motion carried.
The recommendation of the City Clerk to approval renewal of Inland
Marine insurance with St. Paul Insurance was reviewed. This
insurance covers all the portable contractors ' equipment used by
the Public Works Department, Engineers and Parks Department. It
also provides insurance coverage for all portable radio equipment
used throughout the city. The coverage is necessary due to the
wide exposures to the equipment as it is in daily use at various
locations . The equipment is not covered under the city's property
insurance due to the nature of its portability. Quotes were
submitted on an "Actual Cash Value Basis" with an 80 percent co-
insurance provision. The deductible ranges from $250 to $1,000.
The following premiums were reviewed:
Deductible: $250 items 10,000 or less
$1,000 items more than 10, 000
Aetna - $19,571
St. Paul Fire & Marine - $18,468
Deductible: $1, 000 on all items
Chubb - $14,938
West Bend - $25,608
It was the recommendation of the City Clerk that the low bid from
St. Paul Fire & Marine for the renewal of the contractor' s
equipment coverage with deductibles of $250 and $1,000 be approved
due to the large amount of contractors ' equipment that is valued at
less than $1,000. Moved by Getty, seconded by Krizek that said
recommendation be approved. Ayes: Two. Absent: Mollenhoff.
Motion carried.
Moved by Getty, seconded by Krizek that the request of the
Superintendent of Water Pollution/Flood Control to transfer $2, 000
from Line Item 5200/1535 (Hardware Items) to Line Item 5200/1565
(Plumbing, Drainage, Supplies) ; and to transfer $4, 000 from Line
Item 5200/1373 (Fixed Plant Equipment) to Line Item 5200/1356
Finance Committee
January 8, 1996
Page 2
(Linen Rental) be approved. Ayes : Two. Absent: Mollenhoff.
Motion carried.
Moved by Krizek, seconded by Getty that Bills Payment, as contained
in Schedule AP640, pp. 1-34 dated January 8, 1996, in the amount of
$1,083,442 .12, be received, placed on file and forwarded to the
full council for approval . Ayes : Two. Absent: Mollenhoff.
Motion carried.
With no further business before the committee, it was moved by
Getty, seconded by Krizek that the meeting be adjourned at 4:44
p.m. Ayes: Two. Absent: Mollenhoff. Motion carried.
Susan Fangman
City Clerk