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Commission authorizes sale of surplus concession items and approves bond for Power & Light digger derrick
Summary
The commission authorized sale of old concession-stand equipment and approved a resolution to bond for a recently delivered digger derrick for Power & Light; staff cited a likely five-year borrowing term and referenced roughly $203,653 as the purchase amount.
The commission authorized staff to sell surplus concession-stand equipment through Auctions International and approved a resolution to borrow for a recently delivered digger derrick for the Power & Light department.
Staff explained the concession stand's deep fryer was disposed of as unsalvageable but the griddle and other equipment could fetch some funds. The commission moved to authorize the sale and approved it by voice vote.
On the digger derrick, staff said the new unit had been delivered to Power & Light and that the purchase was included in a previous rate-study increase; staff said the city would likely take a five-year loan to pay for the unit and cited an amount of $203,653. The commission moved and approved the bonding authorization.
Staff indicated the annual rates already account for the revenue to cover the debt service; details about final loan documents and timing will follow as staff completes financing arrangements.
