CCP 09-26-1994 - Laserfiche WebLink

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\ SEP-16-199..\ 1..\:..\9 FRO~1 HENNEP I N COLNTY TO ~63378.3'? P.02 , . ~ . ARDEN HILLS FINANCE COMMITTEE August 25, 1994 Minutes Call to Order. The meeting was called to order at 7:35 PM. The following members were present Christine Leavitt, Chuck Mertensotto, Charlotte McNiesh, Carl Rundquist and Charles Stoddard. Committee members Fran Holmes and Tom Steele were absent. Also present were City Council member Paul Malone and City Accountant Terry Post. Minutes Approved: The minutes for the meeting of July 28, 1994 were approved. City Accountant/T reasurer's Report: Terry Post distributed materials he received at the Piper Jaffray stockholders meeting held August 3. The materials described Piper's position regarding the IllStitutional Government Income Fund. Terry said the City has sold all holdings in the Paine Webber Short-Term US Gov't fund at a slight loss. Terry pointed out that the City's net tax capacity for 1995. has increased despite the fact that the tax capacity from real property and personal property declined by $60,353. The increase . occurs because contributions to the fiscal disparities pool decreased by $401,000. Discussion: Charles Stoddard asked if the radio antenna towers in Arden Hills can be taxed at a higher rate. Paul Malone pointed out that the antennas are defined by state statute as personal property for tax purposes. The City has no authority to alter the tax rate. Chuck Mertensotto asked if the City could license the towers and collect a license fee. Paul said it seemed unlikely that this would be allowed because the tower operators were required to get Federal Communications Commission licenses. Capital Budgeting for 1995: Paul pointed out that a sinking fund is being set up to smooth out cash requirements for capital items such as fire equipment. Money is being included for this sinking fund in the 1995 budget. Park & Recreation Foundation: Chuck Mertensotto pointed out that Cindy Severtson has asked a representative of the St. Paul Co's to address the next Par1<s and Recreation Committee meeting about this issue. Utility Rate Subcommittee: A utility rate subcommittee was created. Members are Cristine leavitt,Car1 Rundquist and TOll') Steele. Cristine is going to survey communities regarding matters such as the Sr. Citizen rate. Council Liaison Report: Paul Malone briefed the committee on council activities: 1. McClung is ready to proceed with development on his lots. . 2. Filing is open for the Mayor and Council seats. 3. St Mary's Greek Ukranian Orthodox Church is getting closer to construction.