11/15/1982 P&Z Minutes - Laserfiche WebLink

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-1982 Page Four The meeting was reconvened and Mr. Schumacher reported on the audit proposals. Mr. Reinert had called this date to give Mr. Schumacher his input. Mr. Schumacher reported that he had talked with the League and their recommendations is that once a selection is made, the City should stay with that firm for about six years. The City has been with Anfinson for six years and with the recent loss of Mr. Gary Groueno there is no one left at that firm, with the exception of Mr. Anfinson, who has worked on the City records during an audit.. Mr. Grouen is now with Abdo, Abdo Eick and has an office in Richfield and has presented the low bid for one year. It was pointed out that the bid is different for 1983 and 1984. It was pointed out that most of the other firms presented their bids in the same manner. Mr. Schumacher pointed out an important item is the content of the audit. Mr. Reinert agreed. This is starting all over. He felt all the proposals were good and in a couple of cases, there were some very good suggestions, but he felt the firm of DeLaHunt offered the most to the City. He felt the City would get more for their money from this firm. Mr. Schumacher agreed they had more experience. Mr. Marier said that's the point - they are Auditors. Mr. Reinert moved to engage the firm of DeLaHunt Voto Company for the 1982 audit with the declared intent of this Council to retain this firm for three years. Seconded by Mr. Marier. Motion carried unanimously. Mortgage Revenue Bonds Mr. Schumacher noted that a letter from Mr. Bill Hawkins had been received this date answering the Council's request for more infor- mation on these bonds. The Council took time to read the letter. Mr. Schumacher felt the letter summarized the law, noting that a public hearing must be held. There are five developers interested in this means of financing and are requesting 5/6 Million dollars. Mr. Marier asked who the developers were and Mr. Schumacher listed El Rehbein & Son, Glenn Rehbein, Ulmer's Const. Nelson Properties and Schilling Const. Mr. Marier asked if this involved any new plats and Mr. Karth said, No, this would be used on existing lots. Mr. Marier asked about money in escrow and Mr. Karth said the package pawn is paid for by the developers and they must also deposit a percentage on the bonds. Mr. Marier asked what percentage for each? is that part of the agreeement? Mr. Karth said, Yes, this is decided before the bonds are sold. MR. Marier asked what happens if one of the developers back out and Mr. Karth said the amount of money he had requested is not sold or esle one of the other developers picks up that amount.