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02-23-94 Council Workshop Minutes
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02-23-94 Council Workshop Minutes
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MINiT'PES <br />CITY COUNCIL <br />FEBRUARY 23, 1993 <br />Morelan suggested the need for a back-up plan. <br />The Administrator did not feel it would be difficult to <br />identify back-up revenue sources. The matter may come <br />down to delay in ordering the truck, however. The <br />Administrator reported that at the last truck committee <br />meeting, one of the vendors talked about pricing based on <br />a large up-front payment. The vendor suggested <br />approximately 11 1/2% savings could be realized with a <br />large up-front payment. However, this cannot be verified <br />until the truck is actually put out for bid. A large up- <br />front payment could be included in the bid spec as an <br />alternate. <br />Morelan listed the options available, which include <br />borrowing the money needed for the truck, foregoing the <br />purchase until the money is in hand, or identifying baok- <br />up sources of revenue that could be used until the money <br />is in hand. <br />Hanson asked how much further behind the City will be if <br />the truck purchase is delayed. <br />Morelan pointed out the Fire Chief's previous comments <br />that the cost of fire trucks is increasing by <br />approximately 13% per year. Morelan also pointed out the <br />increased maintenance costs on maintaining the pumper <br />that needs to be replaced. <br />The Administrator reported that he did not identify an <br />alternate financing plan since the decision has not been <br />made on whether or not to purchase a new truck. However, <br />alternatives include reallocation of some of the expenses <br />in the Capital Improvement Budget, use of other fund <br />reserves, as well as the Fire Department's ability to <br />borrow the money which the Administrator felt was not <br />prudent since it would involve payment of interest to <br />another entity. The Administrator stated that he is <br />confident that he could develop a source of fundinq from <br />a cash-flow standpoint. The question is whether the <br />Council agrees that the fire truck purchase is necessary. <br />If there is agreement about the purchase, then planning <br />for that expenditure can proceed. <br />Hanson did not believe there was much opposition to the <br />purchase given the age of the piece of equipment to be <br />replaced. The question is the funding. <br />4 <br />
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