CCP 11-09-1987 - Laserfiche WebLink

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. Minutes of the Regular Council Meeting, October 26, 1987 < Page 5 TREAS RPT (Cont'd) Sather moved, seconded by Peck, that Council ratify the Treasurer's report. Motion carried unanimously. (4-0) . OTHER BUSINESS MPC "SUPER FUNDS" Moved by Winiecki, seconded by Peck, that Council authorize the Clerk Administrator to write a letter to the proper State officials requesting that the "super funds" monies in the amount of $24,046.99, owed to the City of Arden Hills, be paid promptly, with interest, and that the matter be placed on their priority list. Motion carried unanimously. (4-0) PROGRAM LEADERS Councilmember Winiecki explained that her vote in opposition of the, Fall Program Leaders related to the fact that she would prefer to have the Karate class fee increased to cover the instructor fees. MEETING DATES Acting Mayor Hansen reported on the following meeting dates: The 10-29-87 meeting with Shoreview has been postponed. The Rendering Plant Subcommittee meeting will be held 11-18-87, from 7:00-9:00 p.m4 ; she encouraged Councilmembers to attend. The Ramsey County Library meeting will be held 10-29-87, at 7:30 p.m., at the New Brighton City Hall. . The Ramsey County League of Local Government meeting will be held on 11-18-87; Hansen will not be able to attend. MISCELLANEOUS Acting Mayor Hansen reported that former Mayor Bob Nethercut has received the Donald C. Carroll Public Service Award for outstanding contributions to the Twin Cities Metropolitan Area; Council offered their congratulations to Nethercut. APPTMT TO RCW DIST. Acting Mayor Hansen recommended that Council nominate Gerald A. Sande to serve as Rice Creek Watershed District Manager; Council concurred with the recommendation. REPORT OF CLERK ADMINISTRATOR AUDIT REPORT The Clerk Administrator advised Councilmembers that upon appointment of a new Treasurer. Minnesota Statutes require an audit be made. A copy of the audit report was enclosed with the Agenda packet for Council review. Councilmember Peck suggested the Finance Committee receive a copy of the audit report. Peck also expressed concern relative to the abundance of CO's in one ins titutiort; questioned City policy regarding. investments. Morrison advised that Council authorizes a certain number of depositories at the beginning of each calendar year; the Treasurer contacts each depository and makes investments at the best interest rates. after determining the desirable . maturity date. After discussion, Council concurred that the Treasurer should consider taking a slightly lessor interest rate upon investment in order to spread the amount of monies to other institutions. Council favored limiting investments in anyone institution to one million dollars or less. Morrison advised that investments are collateralized at 140% when dealing with an investment organization that has mortgages, and the CO's are collateralized at 110%, so all monies in each organization are properly covered, SPEED LIMIT; The Clerk Administrator advised Council that the DNR LAKE JOHANNA had approved the proposed Ordinance for limiting the speed limit on Lake Johanna to 40 mph. Morrison noted that the Ordinance amendment would become effective upon publication. .