FCM19761221FINANCE COMMITTEE - CITY OF MOSKECU
MINUTES OF SPECLr.!. FESTING HELD DECEMBER 21, 1976
The meeting was called to order at 7:20 P.M. by Chairman Gottfried.
Also present were committee members Dude, Colburn and Schaurnberg,
Aldermen Pienkos, Wallner and Constantineau.
Since the purpose of the meeting was to discuss with the city's
Finance Consultant the methods of financing up to $400,000.00 for
the police building Mayor Gottfried asked Mr. Seegar Swanson to
comment on the matter.
Mr. Swanson indicated to those present that, in his opinion, the
referendum held on the November 2nd ballot actually authorized the
sale of the bonds and therefore was not subject to further referendums.
Mr. Swanson review the proposed capital spending for 1977 pointing
out that his figures were only estimates since a recommendation has
not been received from the Capital Budgeting Committee nor has final
approval of the capital budget been given by the Common Council. He
indicated that he would probably recommend two separate bond or
note issues.
After answering several questions from those present Mr. Swanson also
reviewed with the committee the reasons for his recommending the
adoption of Resolution %227-76 involving $1,420,000.00 worth of bonids
for sewer purposes.
In his presentation Mr. Swanson indicated that by following his
recommendation the self-imposed levy limit for debt retirement could
be reduced from $3.40 per thousand to at least $3.00 per thousand.
The meeting adjourned at 8:30 P.M.
Respectfully submitted,
Jerome J. Gottfried, Acting Se$)
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