05/03/1977 Meeting Minutes - Laserfiche WebLink

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Council Minutes of 5-3-77 -8- readings, seconded by Mr. West. Affirmative 'vote:. Beaty, Bo~ehmar,~ 3aritsger, Sharpe, West, Wilamosky. Negative vote: Fairfield. 6 Yeas - 1 Nay - I~tion carried. Mr. Wilamosky moved for adoption, seconded by Mr. West. Mr. Fairfield asked for discussion: Mr. Fairfield asked how long we have had this property and what amount of interest has been paid so far. Mayor stated we acquired the property around 1971 and Finance Director Gerlach estimated the interest to be about $3S,000. Mr. Fairfield stated he would like to make a point that we have been paying on this and now are finally issuing bonds and asked if we could have S years ago issued bonds on it then to start payment on the principal at that time. Finance Director Gerlach stated ft works out that actually note interest is less than bond interest so if the life of the bonds is reduced by the life of the notes actually you end up paying I+~ss interest overe.ll than if you had sold bonds immediately. Discussion ensued. Mr. Fairfield stated he would like to comment on this and the second piece of legislation to follow is something he has objected to for a loe~a time and this is get~~ing into the real Patate business: Thinks either we wo:t_.;i ue. betrer off pay'n.g for this hospital property outright and owning it or no•c to get mFS3ed up ila i.;nis kind of situation: realises this property has gone up in value like practically everything else the City can buy: just does not think it is a good way to do business and objects to it: objects to buying homes for the purpose eventually someday of tearing them down and building a City Nall - thinks that is a very expensive way to operate a City Government: would hope they would ~ some vacant land and build a City Hall there. Mr. West state3 wa are Laing this so-called hospital site to great advantage as recreation area and we need recreation and more of it in the City and the City obtained the land at a good Brice: would hate to think that we would decide suddently we do not need the land for our residents to enjoy: thinks we ought to be in the real estate business to the extent that we provide what facilities -and in this case recreation in place of th~a hospital - is needcc: for the residents. Mr. Fairfield discussed with Mr. West the number of pieces of recreation Iand we have throughout the City at this time. Discussion ensued. Roll CaII on Motion to Adopt: Affirmative vote: Beaty, Boehmer, Beringer, Sharpe, West, Wilamosky. Negative vote: Fairfield. 6 Yeas - 1 Nay - Motion carried. Ord. No. 77-67 adopted. Ordinance No. 77-68 introduced by Mr. Wilamosky was given its second reading. An Ordinance authorizing the issuance of $35,000 of bonds for the purpose of acquiring certain real estate and the building thereon on Dover Center Road as a site for the expansion of the City Building Complex, and declaring as emergency. Mr. Wilamosky moved for suspension of rule requiring three separate readings, seconded by Mr. West. Affirmative vote: Beaty, Boehmer, Beringer, Sharpe, West, Wila:~osky. Negative vote: Fairfield. b Yeas - 1 Nay - Motion carried. Mr. Wilamosky moved for adoption, seconded by Mr. West. Affirmative bogs Beaty, Baehmer, Saringer, Sharpe, West, Wilamosky. Negative vote: Fairfield. 6 Yeas - 1 Nay - Motion carried. -Ord. No. 77-68 adopted. Ordinance No. 77-b9 introduced by Mr. Wilamosky was given its second reading. An Ordinance authorizing the issuance of notes in anticipation of the issuance of bonds for the purpose of improving tote recreational facilities of the. City by constructing a building housing an ice skating rink, swim~Ening pool, tennis courts and appurtenant facilities, constructing a toboggan slide, acquiring, developing and improving the site therefor, and providing furnishings and equipment for such recreation center and grounds, and declaring an emergency.