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MEMO TO: MAYOR AND CITY COUNCI <br />FROM: CLERK-ADMINISTRAT <br />DATE: DECEMBER 29, 1987 <br />SUBJECT: FIRE DEPARTMENT CONTRACT PAYMENT <br />In the past, it has been the practice of the City of Mounds View <br />to make equal monthly payments to the Spring Lake Park Fire <br />Department based upon billing statements from them. Attached is <br />a letter from Fire Chief Fagerstrom requesting that the City <br />consider the possibility of doubling our payments in February, <br />March, April and May to assist them with cashflow difficulties <br />they experience during this time as a result of their insurance = <br />premiums. The City would then not be responsible for payments in <br />September, October, November and December of 1988. <br />Consultation with Finance Director Brager has indicated that the <br />City would suffer an investment earnings loss of approximately <br />$70.00 ;sr month as a result of this advanced payment. <br />Staff has no recommendation for the Council w`h respect to this <br />item at this time and would request Council uirection. _ <br />DFP/mjs <br />CAttachment: <br />I <br />n <br />