Finance committee advances note renewal, staffing ordinance, diesel contract and Meijer generator to full council

The Finance and Economic Development committee advanced multiple items to the next council meeting as emergency agenda items.

Director Frank and the mayor described an annual note renewal drawn from prior borrowings; the requested amount was described as not to exceed $3,095,000. Officials noted the city's deposit interest (reported at about 3.82%) has been approaching the borrowing rate (estimated about 3.5%), and the administration said it plans to accelerate paydown of principal if market conditions allow. Bond analyst Matt Sazinski was introduced as available to answer questions.

The mayor moved to add the note renewal as "Ordinance No. 6" on the agenda as an emergency and asked to waive the 24-hour rule; the motion was seconded and roll-call votes were recorded. The mayor also moved to add "Ordinance No. 7" to restore 2016 staffing levels in the service department; that motion was seconded.

Council considered a two-year extension of the diesel fuel contract (priced to a national OPIS benchmark). The mayor described the contract as a two-year deal totaling $96,000 at $2.84 per gallon and moved to place it on the next agenda as an emergency; the motion was seconded and passed.

The administration also described an emergency-generator project at the Meijer gas station intended to ensure fuel access for city service and emergency vehicles during power outages. Director Moore said police and service department staff had reviewed the MOU and given informal approvals; council moved to add the item to the agenda as an emergency.

Each of these items was advanced to the next council meeting for final consideration and vote by the full council.