2002-04-24 CC Packet (2) - Laserfiche WebLink

Home Browse Search

Funds for homeland security improvements , " Laurdes Samhez The LMCIT BQard oITrustees has approved expanding the bleacher improvement financing program tQ include city capital improvements fQr purposes Qf security and emergency preparedness. The same $3 milliQn from the property / casualty program's fund balance dedicated tQ the bleacher improvement program will be used fur the newly expanded purpQse. In a recent survey, cities tQld the League they are making security improvements tQ city buildings and facilities in recognitiQn of possible threats after the terrorist attacks Qf Sept. 11. NQt all Qf these perceived dangers are a result Qf"terrorist" activities. Many cities have simply CQme tQ recQgnize dangers that have existed all alQng-ror instance a chemical leak Qr industrial spill, Qr 4M Fund update An illY8Stment altematlve sponsored by tile League of Minll8llllta Cities 1lIe411 ftmj 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 state-aid payments. ApIfl8-12, 2002 - - --.. - -- - 4/. 1.38% 1.39% 4/9 1.37% 1.38% 4/10 1.37% 1.38% 4/H 1.31% 1.3.% 4/12 1.37% 1.38% 1lIe4llPlosf_ The Plus Fnnd is a complementary money t:n.arket option designed to provide safety and an enhanced yield when compared to the traditional4M Fund.The PLUS Fund requires that you maint:ai..n. deposits for at le3St 30 days with:l 24-hour advance wit:h.dr.rwal notice_ Ap1f18-12, 2002 - .1- "'~ - - - 4/. 1.46% 1.47% 4/9 1.46% 1.47% 4/10 1.46% 1..48% 4/11 1.46% 1.47% 4/12 1-46% 1.48% _Ionot"''''' Dmr iDt.-.c cmapoundia.c. me checld.ag, Aqton;qtM C1aariIIf: H_ (ACH) pyn1tIDt IJ'!:...... ....d in_ent edaeatialud oppurtoaitiel.r. ~ the senieeI otlitM by die FIIDd. For.PlON inConnatiou. pJom.. c:d ht Htu::tD ~.aet) ofVopplK AaHrY....&"'...-..t (800) 553-2.1.41 Oil! (612) 17&-'1017. cQntaminatiQn Qf the city's water supply. These kinds of security improve- ments CQuld present a shQrt-term financing issue fur some cities. This program may help cities make those improvements by providing a low interest lQan Qf 3 percent, repaid Qver a periQd nQt tQ exceed 5 years. SQme of the types of improvements cities might cQmider under this progtanl include: . Security system Qr CQntaminant alert system fQr water distribution and treatment facilities . Equipment tQ protect city cQmputer systems . Protective equipment fur first respQnders . Security improvements fur city buildings and facilities As we CQntinue tQ refine the lQan applicatiQn process, we WQuld like tQ hear from cities abQut Qther kinds Qf improvements they WQuld like cQnsidered under this IQan program. Please contact Ann Gergen, LMCIT associate administratQr, at (651) 281- 1291 or agergen@lmnc.Qrg. t" .~'" ~ " 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 OUI database. Please e-mail jhopp@1mnc.org, call (651) 215-4030, orfax (651) 215-4144. Page 4 LMC Cities BuUetin