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Mounds View City Council February 10, 2003 <br />Regular Meeting Page 7 <br /> <br />MOTION/SECOND: Stigney/Marty. To Strike Check Number 110252 from Just and Correct 1 <br />Claims. 2 <br /> 3 <br />Council Member Marty asked whether there was another way to obtain this information such as by 4 <br />getting it from the library to cut costs. 5 <br /> 6 <br />Finance Director Hansen indicated he would burn up more time in a month looking for other ways to 7 <br />obtain the paper than what this costs per year. He then commented that Council was free to cut it but 8 <br />cautioned that he would then be less informed when making investing decisions. 9 <br /> 10 <br />Council Member Stigney commented that Council should be making investments not Staff. 11 <br /> 12 <br />Finance Director Hansen indicated it was not practical to bring all investment decisions to Council as 13 <br />Staff has money to invest and calls brokers to determine what is available and has to make a decision 14 <br />immediately as later in the day those options may not be available. 15 <br /> 16 <br />Council Member Stigney asked what type of investments were being made. 17 <br /> 18 <br />Finance Director Hansen indicated he buys commercial paper mostly and some federal agency. 19 <br /> 20 <br />Council Member Stigney asked how often this happens. 21 <br /> 22 <br />Finance Director Hansen indicated that it is sometimes once or twice per month and other times five or 23 <br />six times per month. 24 <br /> 25 <br />Council Member Stigney commented that for those few times the Internet should work. 26 <br /> 27 <br />Finance Director Hansen indicated it is not just what is happening today it is what is going on in the 28 <br />economy. 29 <br /> 30 <br /> Ayes – 1 (Stigney) Nays – 4 Motion failed. 31 <br /> 32 <br />Council Member Marty indicated that the Claims list seemed short for this meeting. 33 <br /> 34 <br />Finance Director Hansen indicated there were two different reports, one dealing with bills charged back 35 <br />to 2002 and a longer one for 2003 and, put together, it was about an average report. 36 <br /> 37 <br />MOTION/SECOND: Marty/Gunn. To Approve Just and Correct Claims as Presented. 38 <br /> 39 <br /> Ayes – 4 Nays – 1(Stigney) Motion carried. 40 <br /> 41 <br />7. CONSENT AGENDA 42