2002-04-24 CC Packet - Laserfiche WebLink

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Funds for homeland security improvements . '~ Lourdes Sandzez The LMCIT Board ofTrustees has approved expanding the bleacher improvement financing program to include city capital improvements fur pmposes of security and emergency preparedness. The same $3 million from the property/casualty program's fund balance dedicated to the bleacher improvement program will be used fur the newly expanded purpose. 4M Fund update In a recent survey, cities told the League they are making security improvements to city buildings and facilities in recognition of possible threats after the terrorist attacks of Sept. 11. Not all of these perceived dangers are a result ofUterrorist" activities. Many cities have simply come to recognize dangers that have existed all a1ong-for instance a chemical leak or industrial spill, or An illvesllnenl aJtemaIlwe spGIIS1lI'ed by llIe League of MillllllSOta Cities 1lle4M FtIo. The 4M Fund is a short-term investment option designed specifically for Minnesota municipalities to provide safety, daily liquidity. and a competitive yield. Services and benefits include free checking. no minimum balance requirement, the flexibility to establish multiple sub-accounts for specific purposes, ACH payment capabilities, and a lockbox for stare-aid payments. Aplll 8-12, 2002 - .-- - . - -- - 4/0 1.38% 1.39% 4/' 1.37% 1.38% 4/111 1.37% 1.38% 4/11 1.37% 1.30" 4/12 1.37% 1.38% 1lle4M Ills Fn The Plus Fund is a complementary money rn.arket option designed to provide safety and an enhanced yield when compared to the traditional4M Fund.The PLUS Fund requires that you maintain deposits for at least 30 days with a 24-hour advance withdrawal nottce_ ApIll8-12, 2002 - 4/H 419 4/10 4/11 4/12 *YIIIdI Is net of feeL - -- 1.46% 1.46% L46% 1.46% L46% .1.._ .....J - 1.47% 1.47% L48% 1.47% L48% DIIiIr iDtenst rampo a.M_g &ee cbsckias. Aurom.ted CIndDg HoUMI (ACH) pa)"DlIIDt .,-- ...d iD~t ed1Ic:adomd opportuaid.. lUll -utUHlI duI MnU:. offitred by the Fnad. For more iDform8lioD, p..... call PIle Bu:rl:o (phaEEilI~.aet) ofVoyegeur Aalet I\4'.n.V""-~ at (800) 553..2143 or (611) 376-7017_ contantination of the city's water supply. These kinds of security improve- ments could present a short-term financing issue for some cities. This program may help cities make those improvements by providing a low interest loan of 3 percent, repaid over a period not to exceed 5 years. Some of the types of improvements cities might consider under this program include: . Security system or contaminant alert system for water distribution and treatment facilities . Equipment to protect city computer systems . Protective equipment fur first responders . Security improvements for city building; and facilities As we continue to refine the loan application process, we would like to hear from cities about other kinds of improvements they would like considered under this loan program. Please contact Ann Gergen, LMCIT associate administrator, at (651) 281- 1291 or agergen@Jmnc.org. 1" Receiving duplicates? Incorrect addresses? . New person in position? Let us know. Please contact Jeanine Hopp at the League of Minnesota Cities about duplicates, deletions, and incorrect addresses. Note the desired changes and we'll streamline our database. Please e-mail jhopp@lmnc.org, call (651) 215-4030, orfal< (651) 215-4144. Page 4 LMC CIties Bulletin