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<br />I <br /> <br />1 <br /> <br />I <br /> <br />Council Meeting Minutes <br />December 10, 1991 <br /> <br />Page 3 <br /> <br />Council Business. continued <br /> <br />Motion by Williams, seconded by Larson, to WAIVE THE READING AND <br />ADOPT THE RESOLUTION APPOINTING TAUTGES, REDPATH AND <br />COMPANY CITY AUDITOR FOR FISCAL YEARS 1991, 1992 AND 1993. <br /> <br />4 Ayes - 0 Nayes, Motion Carried. <br /> <br />Egan presented for consideration the call of the 1983 special assessment <br />bonds and the closing of the bond fund. <br /> <br />Periodically, staff reviews the City's outstanding bonds. The call resulted <br />from adequate cash on-hand to allow for prepayment. The advantages of <br />the calling include: decreased debt ratios, eliminate interest expense and <br />freed residual for use at an earlier point in time. <br /> <br />City Manager David Childs said the City's current interest rate on the <br />bonds is 8.2%, and the current investment rate is 6.5% thus supporting <br />the early prepayment. <br /> <br />Motion by Gunderman, seconded by Larson, to WAIVE THE READING <br />AND ADOPT THE RESOLUTION AUTHORIZING THE CALL OF 1983 <br />SPECIAL ASSESSMENT BONDS AND WAIVE THE READING AND ADOPT <br />THE RESOLUTION AUTHORIZING THE CLOSING OF BOND FUND #321. <br /> <br />4 Ayes - 0 Nayes, Motion Carried. <br /> <br />Childs presented the establishment of compensation rates and insurance <br />contribution for non-union personnel. <br /> <br />The plan has top pay equal to metropolitan mean, however, all employees <br />are not at top pay. The plan is based on a wage increase of 2.5%. No <br />new supplemental comparable worth pay is required, however, the State <br />has required certain part-timers be incorporated into the comparable worth <br />evaluation. This analysis is being completed to add part-timers. <br /> <br />The proposed monthly maximum contribution for health insurance would <br />be set at a rate not in excess of approved union personnel rates. An <br />employee task force is evaluating the health insurance option, and <br />recommended changes should be delayed until their evaluation is <br />complete. <br /> <br />Williams asked if the rates for union and non-union personnel are equal. <br />Childs said it is the City's goal to continue uniformity between union and <br />non-union benefits. Williams stressed that benefits should be as equitable <br />as possible. <br /> <br />Motion by Larson, seconded by Williams, to WAIVE THE READING AND <br />ADOPT THE RESOLUTION ESTABLISHING COMPENSATION RATES AND <br />INSURANCE CONTRIBUTIONS FOR NON-UNION PERSONNEL. <br /> <br />4 Ayes - 0 Nayes, Motion Carried. <br /> <br />Council Business <br /> <br />City Auditor <br />Appointment <br />Report 91-257 <br />Resolution91 w 109 <br /> <br />Call of the 1 983 <br />Special <br />Assessment <br />Report 91 ~258 <br />Resolution91-110 <br /> <br />1992 <br />Compensation <br />Rates <br />Report 91-259 <br />Resolution91-259 <br />