10/18/1994 Meeting Minutes - Laserfiche WebLink

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Council Minutes of October 18, 1994 ,,,~ which connect riders with freeway flyers to downtown. There is no connection to other ~- buses. The Mayor feels that the "dual hub/red line relocation" is a feeder for downtown Cleveland, and the Transportation 2010 proposal does not address the western suburbs or their development other than adversely. The Mayor has protested this situation on behalf of the city. S) Along with the Safety Director, has had several meetings with the owners of Springvale in preparation for the closing on the purchase. 6) The Cleveland Plain Dealer will feature North Olmsted in a special section on December S. Anyone having suggestions about stories should contact the Mayor or his assistant, Nancy Wlodarski. 7) The Mayor will present the State of the City address at the Chamber of Commerce meeting on Thursday, October 20. Law Director Gareau reported: 1) The closing date for the Springvale purchase has been extended to October 27 because of Pbmning Commission concerns regarding land division. Also, the city is in the process of reviewing current vendor contracts to determine whether they will be assumed.. In addition, the Law Director is working on transfer of the liquor license. 2) The Law Director has been working with insurance counsel with regard to the lawsuit dealing with an accident that occurred on Canterbury Road because of construction in the City of Westlake. North Olmsted will file a cross claim against the City of Westlake and the contractor. 3) The Law Department has provided documents and assisted in investigation of the false arrest case dealing with an alleged theft at Goodwill. Finance Director Bums reported: 1) On October 12, the $11.775 million note issue was priced, and they were closed today at an interest rate of 4.SS%. The notes were sold at a premium so that the effective rate will be 4. S 1 %. A portion of the proceals from this note issue has been invested u~ttil Dece~er 1 S, and the return on that investment will be 4.7%. 2) The bank account for the Recreation Center has been relocated to First National of Ohio. The credit card syskem at the Recreation Center will be upgraded and the equipment will be replaced. Also, Mr. Bums is investigating the use of the MAC Debit Card. The city is considering using these systems at Springvale. 3) The new bank account for Springvale will be at Society Bank. Also, the city has obtained the vendor's license for sales tax purposes for the golf course. Mr. Lind questioned Mr. Bums as to the current status of the audit statement from the Attorney General. Mr. Burns said that the State Auditor's office now has the information they need. The Auditor's staff is currently off the job here, but they will be returning in a couple of weeks. At that time, we expect to wrap up the audit and get the approval from Cohunbus, which would then release the status at the Attorney General's office. Mr. Nashar asked Mr. Burns if the information he provided would clear the city's record. Mr. Burns said yes, and that the problem had been one of missing pieces from the puzzle. However, those missing pieces have now been supplied by the outside accounting firm that had done the city's prior audits. 2 ~-