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<br />MINUTES OF REGULAR COUNCIL MEETING
<br />V i I I 5 ge 0 f ,~r de n H i lis
<br />Monday, Ji!lluary 3, 1977 - 7:30 p.m.
<br />Village Hail
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<br />CALL TO ORDER
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<br />Pursuant to due ca II and noti Cf3 thereof, 1,1aycr Crepeau ca lied the
<br />meeting to order at 7:35 p.m.
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<br />RO LL CALL
<br />Present - Mayor Henry J. Crepeau, Jr., Coullci Imen Robert Woodburn,
<br />Charles Crichton, Ward Hanson, James Wingert.
<br />Absent - None
<br />Also Present - lreasurer Donald Lamb, Bond Counsel Peter Popov;ch
<br />Police Chief Pat Sexton 110:30) Clerk Administrator
<br />Charlotte McNiesh, Deputy Clerk Dorothy Zehm.
<br />
<br />OATHS OF OFFI CE
<br />tlerk Admlnistretor Charlotte McNlesh administered the Oath of
<br />Office of Mayor to Henry J. Crepeau, Jr. and the Oath of Office of
<br />Councilman to Werd Hanson and James Wingert.
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<br />APPROVAL OF MINLTES
<br />Crichton moved, secondec by Hanson, that Council approve the Minutes
<br />of the Regular Council Meeting of December 27,1976, as amended.
<br />Motion carried .nanlmously.
<br />
<br />BUSINESS FROM ~HE FLOOR
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<br />Radar Oven Presentation - Kniohts of Columbus
<br />Jim Eddelston, Gral,iff<n'ight and Gene McCallum and Tom Lynch, Past
<br />Grand Knights of '~he Nazareth Counci I o'f i'he Knights of Columbus,
<br />No. 421, presented a raciar oven to the Arden Hi lis Counci I for use
<br />by the Public Wcrks Department.
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<br />Mayor Crepeau accepted the oven, on behalf of the Public WorkS
<br />Department emplevees, and expressed Council's ",ppreciation to the
<br />Knights of Colurrbus.
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<br />'jloodburn moved. seconded by Hanson, that Counci I order a plaqu,)
<br />signifying the donor of the ovnn. Motion carried unanimously.
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<br />i977 Vi I laqe~ointments
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<br />Mayor Crepeau submi'~1iled his recorrmendations tor 1977 Vi II age
<br />.t'lj)poi ntmonts to ~rhe Counei I.
<br />
<br />After discussion. Hanson moved, seconded by Crichton, that the
<br />Council approve the 1977 Appointments as listed (attached). ~~otion
<br />carried unanjmousuy~
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<br />Oaths of Office - TreDsurer and Clerk Administrator
<br />Mayor' Cre!Je" u a dmT,)fst;;-reTthe-Ca1:j)'-c '-01 f I c';,:{'Tre as u re r to
<br />Donald R. lamb and the Oath of Cffice of C:lerk Administrator to
<br />Sharfottc McNlesh.
<br />
<br />. ;Report of BonU.2,~~L::_Pet~.L..E...()!:'2.\'ich"
<br />i\lr. Peter ?opovich, Bond Counsel, refen"ee Council to Feasibility
<br />Report (dated ,Ianuar'l 3, 1977J Felating to Refwndlng $500,000
<br />Callable 80nds of 1'1113 $1,200,000 Se~ies I Issue of November I, 1970
<br />and reviewed the various exhib'ts incorporated therein.
<br />
<br />In discussIon, Popovictl ootad that bacause of the drastlc decline in
<br />interest rates durin" the past year, short ten" and even lonqel-
<br />term maturity rates have also decl ined; expected t,hls trend to
<br />contInue into 1977.
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<br />The anticipated savlnns betweBn present interest costs and antIcipated
<br />interest costs of 5.25% amount to $74;600; a.t 5.00%, a savin0s of
<br />$82,725; at 4.75%, e savlnQs of $90,850; and at 4.50%. a savings of
<br />$98,987. -
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<br />Popovich said that premIum costs End the costs of fssuance of the
<br />[;ondst wi I t r00uce en,! j;ltCf'est sav:00s by about $18,000.
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