Committee Minutes

MINUTES/FINANCE COMMITTEE
Monday, March 4, 1996 - 6:45 p.m.

Members present: Carpenter, Babinchak, Geller, McCabe.

1. Application for abatement and settlement of 1993 taxes on
property at 2551 S. Columbia Rd. (Lot 5, Blk. K, BFM Addn.)
Mel Carsen, city assessor, reviewed his recommendation of a reduction in the value from $375,100 to $344,600. Moved by Babinchak and Geller that the value be reduced as recommended. Motion carried.

2. Consideration of bids on City-owned property.
The committee reviewed recommendation from the city auditor on bids received for sale of Lots 1 - 6, Block 1, Auditor's Subdivision No. 27, and Lot 1, Block 1, Medvue 6th Resubdivision.

Moved by Geller and Babinchak that we reject all bids for lots in Auditor's Subdivision No. 27. Motion carried.

Moved by Babinchak and Geller that Mr. Carsen, Mr. Schmisek and Mr. Swanson negotiate with Mr. Doe on Lot 1, Block 1, Medvue 6th Resubdivision.

3. Matter of licensing of City emblem and flag, and establishing
merchandising contracts.
The committee directed staff to proceed, and to bring information back to committee.

4. Matter of ballot issue re. publication of minutes.
The committee discussed increase in publication costs from $16,000 to $30-35,000 for publication of agendas and current summary of minutes. Moved by Babinchak and Geller that the issue be placed on the June ballot and direct city attorney and finance director to draft language. Motion carried. (Ballot language will be brought back to committee).

5. Matter of review of documents re. amendment to Home Rule
Charter (use tax).
Held in committee.

6. Matter of request to place on June ballot that the sales tax
increase to pay for the events center cannot be extended be-
cause the cost of the center exceeds $49 Million and no
future sales tax increase can be made unless a super
majority of 60% of the voters of Grand Forks approve that.
Terry Bjerke, 5356 5th Avenue North, appeared before committee. After discussion it was moved by Geller and Babinchak to receive and file. Motion carried.

7. Temporary and overtime statement for January, 1996.
The committee reviewed statement; moved by Babinchak and McCabe to approve. Motion carried. (comm. only)

MINUTES/FINANCE COMMITTEE
March 4, 1996 - Page 2

8. Matter of resolution to issue additional bonds-United Hospital
Dwight Thompson, United Hospital, was present. The committee reviewed resolution and communications from bonding consultant stating that the United Hospital is asking that the City authorize issuance of its revenue bonds under the Municipal Industrial Development Act to pay part of the costs incurred and to be incurred by the Hospital with respect to certain capital improvements, and to call for a public hearing on the proposal as required by state law and by the Internal Revenue Code. It was noted that if the City anticipates issuing bonds for its own purposes in 1996 in a principal amount less than $10 million, the City will presumably want the Hospital to agree, as it has in the past, to reimburse the City for the differential in interest rates attributable to the City's inability to issue bonds for its own purposes as a "qualified small issuer."

Moved by Geller and McCabe to adopt resolution relating to the issuance of revenue bonds on behalf of the United Hospital up to $20,000,000 and set a public hearing for April 1, 1996. Motion carried.

9. Request by North Valley Arts Council for release of funds al-
located in 1996 budget for renovation of Empire Theatre.
Kay Kjelland of the North Valley Arts Council was present and requested release of the $100,000 budgeted in the 1996 City budget. After discussion it was moved by McCabe and Geller to
approve release of funds. Motion carried.

Meeting adjourned.

John M. Schmisek
City Auditor/af

Dated: 03/05/96.