Sunday, January 11, 2015

ABOUT THE AGENDA FIXING SESSSION



Dawg says that there are more important things in life than the Council agenda. Besides his insistence on “playing” on his terms or the TV‘s cornucopia of college basketball and NFL semifinal games this weekend he insisted that I have very few minutes for the computer.

None the less there are some agenda items that need clarification. All seem important.

Resolution “K” and Bond Ordinance 1257 deal with the refinancing of a 2007 $14,500,00 Bond Issue at more favorable terms resulting in a $400,000 savings.

What is not noted is the total remaining principle and over what period of time the “savings” in interest will take place.

Resolution “Q” sets a tax penalty rate for delinquent tax as permitted by State Law. There will be an 8% fee per annum, for the first $1500 and then 18% per annum for all sums above that amount. AT the end of the fiscal year there will be a fee of 6% per fiscal year for any remaining delinquency .

Resolution “U” deals with the Muhlenberg Campus. It authorizes the Planning Board to remove two lots from the “redevelopment plans” for the campus. One is that occupied by the Nursing School, and the other is the Kenyon House with its dialysis units. The wording “Kenyon House Dialysis Center/Satellite Emergency Department” is premature but in effect acknowledges that JFK will be given permission to close the present emergency room. 

The Planning Board is directed to proceed with the rest of the property; the hospital buildings parking lots and Randolph Road houses an s redevelopment property and hold public hearings.

Ordinance 2015-01 creates the position of “Manager of Motors” at an annual salary for 2015 at $70,887. Its intent is to centralize the control of the City’s fleet of vehicles including purchase, maintenance, repair and replacement. Included are the “underground tanks”, I presume for fuel storage. Question, are fire and police department vehicles included?

2 comments:

  1. Regarding the bond ordinance, I went to the library rather than fiddle around with the electronic backup files and found out the remaining principal will be $13,495,000 and the bonds will mature between sept. 15, 2017 and Sept. 15, 2022. Being a financial illiterate, I don't know what it means in terms of the overall city bond situation.

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    1. I should assume that some of the bonds mature(must be redeemed)each year berween 2017 and 2022;ie;over 5 years or apprroximately a little less than 3 mil a year.

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