04-27-94 Council Minutes - Laserfiche WebLink

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MINUTES CITY COUNCIL APRIL 27, 1994 received in repayment from the Fire Department for the purchase of the ladder truck. The other source is the $103,000 in the General Capital Improvement Budget for 1995. The Administrator again pointed out that the Fire Department has committed to pay the cost of the truck over and above the original $250,000 estimate. Scalze asked if the purchase would be paid with other City funds transferred into the Capital Improvement Fund. The Administrator replied that that was correct if payment is needed before 1995. In addition to the funds from the truck loan repayment, funds would have to be transferred from the Closed Bond Fund to the Capital Improvement Fund. This would be an inter-fund loan and the loan would be necessary depending on the timing for payment for the truck. Scalze asked if a repayment schedule would be established. The Fire Chief reported that the Department is willing to commit to between $25,000 and $40,000 to pay the cost of the truck over $250,000 based on future Legislative action affecting the sale of pull tabs. The Chief reported that the Department has also committed its gambling revenue toward the purchase of other Fire Department equipment such as turn-out gear, radios, etc. The Department has a five-year plan for truck replacement, with the smaller rescue utility truck scheduled for replacement in 2003. Morelan pointed out that the Fire Department has agreed to cover the cost of the truck over the $250,000 estimated up to the actual purchase price. The Administrator reported that the maximum estimate is at $292,000, however, pre-payment options and competitive bidding could result in a lower actual cost. Therefore, if the truck came in at $275,000, the Fire Department would pay $25,000 toward the purchase. Scalze asked how much money was in the Closed Bond Fund, and asked if there were any other uses earmarked for that Fund. The City Administrator pointed out that we have used the 24