PRESENT: Chairman Barr, Ald. Rackow, Phillips, Nealis and Molski

ALSO PRESENT: Comptroller-Treasurer Schlice; Mayor Wescott; City Attorney Molepske; City Clerk Zdroik; Admin. Assistant Molepske; Directors Van Alstine, Gardner, Schrader, Disher; Assessor Kuehn; Personnel Specialist Jakusz; Operations Superintendent Krieski; Capt. Daubert; Ald. Walther, Sevenich, Seiser, Moore, Filipiak; Therese Frieberg (Portage County Personnel); Ron Check; Gene Kemmeter (Portage County Gazette); Barb Martin (Stevens Point Journal)

1. ASSESSOR’S REPORT

Motion made by Ald. Rackow, seconded by Ald. Phillips to approve the report of the Assessor and place it on file.

Ayes: All Nays: None Motion carried.

2. CONSIDERATION OF CLAIM A. MARY MAYEK

Comptroller-Treasurer Schlice stated that Sentry Insurance has recommended the denial of the claim.

Motion made by Ald. Molski, seconded by Ald. Phillips to deny the claim for Mary Mayek.

Ayes: All Nays: None Motion carried.

3. REVIEW OF SERIES 2001B GENERAL OBLIGATION NOTE

Comptroller-Treasurer Schlice explained that a list has been provided for the borrowing and one thing that he noted was for the Lincoln Center, 1.5 million dollars in the borrowing, but the actual cost could be up to a split of 1.6 million and we can only reimburse ourselves for costs that are expended sixty days prior to the borrowing. The house on Elk Street was offered for purchase prior to the plans being drawn up, so the additional cost would have to be absorbed within the land purchase account and we will still be able to make the budget. With regard to the computers, we replaced them four years ago, only then it was under a lease program. Now the lease is 6 ½ - 7% on cost of money and we expect to borrow for under 3%.

Motion made by Ald. Phillips, seconded by Ald. Rackow to place the review of the Series 2001B General Obligation Note on file.

Ayes: All Nays: None Motion carried.

4. APPROVAL OF PAYMENT OF CLAIMS

Motion made by Ald. Nealis, seconded by Ald. Rackow to accept the payment of claims in the amount of $468,470.63.

Ayes: All Nays: None Motion carried.

Adjournment at 7:30 p.m.

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