Committee Minutes

MINUTES/FINANCE COMMITTEE
Monday, October 2, 1995 - 7:00 p.m.

Members present: Carpenter, Babinchak, Geller, McCabe.

1. Matter of sale of bonds:
a) $670,000 Sales Tax Revenue (Foreign Trade Zone) Bonds,
Series 1995E
Wally Dornfeld, Springsted, Inc., reviewed bids received. Moved by Babinchak and Geller that we award the sale to Dain Bosworth with a true interest rate of 6.21118% and adopt the resolution authorizing the issuance and awarding the sale of $670,000 Sales Tax Revenue (Foreign Trade Zone) Bonds, Series 1995E, to finance the improvement of the municipal foreign trade zone. Motion carried.

b) $645,000 Sales Tax Revenue (Airport Refunding) Bonds,
Series 1995F
Wally Dornfeld, Springsted, Inc. reviewed bids received. Moved by McCabe and Geller that we award the sale to Dain Bosworth with true interest rate of 5.54765% and adopt the resolution authorizing the issuance and awarding the sale of $645,000 Sales Tax Revenue (Airport Refunding) Bonds, Series 1995F. Motion carried.

2. Matter of health insurance coverage for Grand Forks Central
Business District Authority employees effective October 1.
The request to allow Grand Forks Central Business District Authority employees to be covered under City's health insurance effective October 1, 1995 was presented to the committee. Moved by Babinchak and Geller to approve the request. Motion carried.

3. Matter of funding traffic study for events center.
The matter of funding traffic study for three proposed locations for the events center was considered by the committee.
It was moved by Geller and Babinchak to approve the traffic study in the amount of $3,745. Motion carried. (committee only).

Meeting adjourned.

John M. Schmisek
City Auditor/af

Dated: 10/05/95.