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1996-12-02 Town of Truckee TOWN COUNCIL SPECIAL MEETING MINUTES December 2, 1996 3:00 P.M. Truckee Donner Public Utility District Board Room 11570 Donner Pass Road, Truckee, CA CALL TO ORDER - Mayor McCormack called the meeting to order at 3:00 p.m. ROLL CALL PRESENT: Council Members Carpenter, Cross (arrived at 3:06 p.m.), Drake, Eagan, and Mayor McCormack Council Members Elect Florian and Susman ALSO PRESENT: Stephen L. Wright, Town Manager; Dennis Crabb, Town Attorney; Jill Olsen, Finance Director; Tony Lashbrook, Community Development Director; Jon Lander, Town Engineer; Tom Covey, Public Works Director; and Vicki Soderquist, Deputy Town Clerk PUBLIC COMMENT - None WORKSHOP 5.1 Financial Management Plan for Debt and Capital Improvements. Ms. Olsen stated the Plan would help Council make decisions in the future and maintain the Town's creditworthiness. Staff recommended that Council review the proposed Plan, but withhold approval until the CIP process was completed. At that time Council may want to review and/or revise the objectives. After review of the proposed Financial Management Plan for Debt and Capital Improvements objectives it was the consensus of the Council to: Approve objectives A, C, J, K, M, O, P, Q, and R as presented. Amend objective B to read "The Town will strive to finance capital projects through reasonable user fees, service charges or other nontax revenues to the extent possible." Amend objective D to reflect "short term" cash flow. Amend objective E to change "study" to "review". Amend objective F to reflect "when most cost effective". Amend objective G to leave blank the number of fiscal years and to amend to include "minimize the costs of the process". Amend objective H to leave blank the percentage of assessed valuation. Delete objective I. Delete objective L. Amend objective N to state "The Town shall strive to place.....". Mr. Wright informed Council that committee appointments would be on the 12/19/96 agenda. Staffwould be recommending at that time to expand the Road Committee to include the CIP Program Committee. Council would be discussing the make-up and process of the committee at that thne. He anticipated that appointments would be made in January. Staff was proceeding with the CIP plan. 6. ADJOURNMENT - Mayor McCormack adjourned the meeting at 4:41 p.m. by: Respectfully submitted, STEPHEN L. WRIGHT, Town Manager Vicki C. Soderquist, CM~eputy Town Clerk Town Council Minutes December 2, 1996 Special Page 2