05/16/2000 Meeting Minutes - Laserfiche WebLink

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Council Minutes of 5/16/2000 Assistant Law Director Dubelko: 1) With respect to the Olmsted Township vs. the City of North Olmsted annexation case, the city filed its appellee brief in the Court of Appeals today. 2) This afternoon, the city had an arbitration with regard to an AFSCME grievance involving Council's 1999 decision to fund the Activities Coordinator position at the Senior Center but not the Secretary I position. The city must file apost-hearing brief by June 7, and the arbitrator indicated that a ruling will be given by mid-July. 3) A single claim remains with respect to the Chamber of Commerce case. This was scheduled for trial on Thursday but, due to the Law Director's illness, the city has filed a motion for a continuance. Finance Director Copfer: 1) The revenue and expenditure reports for the month of March were distributed to Council today. 2) The Finance Department has received a number of phone calls regarding the county linked deposit program. Although the city has passed its resolution, the County Commissioners need to pass a resolution and that will not occur until their June 1 meeting. There will be a 30-day waiting period for the program to go into effect. Mr. McKay asked whether a loan already applied for would come under the jurisdiction of this program. Mrs. Copfer answered that the individual would have to work that out with their bank. The six banks participating in the program are First Star, First Merit, Key Bank, National City, Fifth Third and Huntington National. Mr. Miller noted that there had recently been newspaper articles regarding lost opportunities of city funds and investment opportunities with some cities in the county. He asked Finance Director Copfer if she was satisfied that North Olmsted has in place an investment policy that protects us from lost opportunity. Mrs. Copfer replied that we do and was glad to see that North Olmsted was not mentioned in the articles. We have a very in-depth investment policy. Our investment policy requires us to ensure safety of the principal that we are investing because that is the most important thing, to ensure safety of our tax dollars. But we can invest in U. S. Treasury bills, notes, bonds, any bond note or debenture or anything from a federal agency that they issue, interim deposits which would be CDs, overnight repos and no load mutual funds that sweep overnight and invest. We do not have money that sits uninvested. Because of the timing of expenditures, we use all of those investment options. Mrs. Saringer, chairperson of the Cable Advisory Committee: 1) The committee met on May 9. In attendance were committee members Saringer, McKay and Limpert; Councilman Miller; Service Director Bohlmann. The committee discussed the transfer of control of the Cablevision franchise to Adelphia Communications Corporation. When a cable franchise is in the process of selling its system, federal law requires that it give notice of the proposed sale and seek approval from the franchisee of its request to assign the franchise to the entity purchasing the system. The franchisee has a total of 120 days to indicate approval or disapproval of the proposed assignment of the franchise. Council action to approve or disapprove by resolution would have to be taken no later than June 3, Legislation is on the agenda this evening and will be passed under suspension of the rule to meet that deadline. Although not a part of the franchise transfer, the 2 i