Finance Committee Meeting

CITY OF MINERAL POINT 137 HIGH STREET, SUITE 1 MINERAL POINT, WI 53565 608-987-2361 MINUTES CITY OF MINERAL POINT FINANCE COMMITTEE MEETING Monday, March 9, 2026, 4:00 PM City Hall Community Room Call to Order, Roll Call, and Confirmation of Compliance with the Open Meetings Law. Chair Burrows called the meeting to order at 4:00 pm. Clerk Skelding confirmed compliance with the open meetings laws. Keith Burrows, Chair Present Mike Christensen Present Chris Goodney Present Others Present: Administrator Matt Honer, Clerk-Treasurer Christy Skelding, Deputy Clerk-Treasurer Renee Rolli, Justin Fischer APPROVAL OF FEBRUARY 9, 2026 MINUTES Motion (Goodney/Christensen) to approve the February 9, 2026, minutes. Motion carried, all voting aye (3-0). PRESENTATION OF PLAN OF FINANCE AND PARAMETERS RESOLUTION FOR THE SALE OF NOT TO EXCEED $2,260,000 GENERAL OBLIGATION PROMISSORY NOTES. Justin Fischer, BAIRD, presented the plan of Finance and Parameters Resolution for the sale of the not to exceed $2,260,000 General Obligation Promissory Notes. The purpose of this borrowing is to cover $335,000 in water projects, $340,000 in sewer projects, and $1,585,000 in the Brewery Creek Subdivision. BAIRD estimates the interest rate on the borrowing to be 4.25% with a term ending in 2043. No action taken. CONSIDERATION OF RESOLUTION AUTHORIZING THE ISSUANCE AND ESTABLISHING PARAMETERS FOR THE SALE OF NOT TO EXCEED $2,260,000 GENERAL OBLIGATION PROMISSORY NOTES. Motion (Christensen/Burrows) to recommend Council approval of a Resolution authorizing the issuance and establishing parameters for the sale of not to exceed $2,260,000 General Obligation Promissory Notes. Motion carried, all voting aye (3-0). CONSIDERATION OF A GRANT ADMINISTRATION CONTRACT WITH DELTA 3 FOR WIDNR CLEAN DRINKING WATER LOAN AND CLEAN WATER PROGRAM. Grant Administration is $30,000, which will be covered entirely by the Clean Water Fund and the Safe Drinking Water Loan. The current interest rate on these loans is 2.5%. The DNR funding will be substantially more than what is listed in the Bond Counsel. OFFICE OF THE CITY CLERK-TREASURER Mayor – Danny Clark City Administrator | Matthew Honer | administrator@cityofmineralpointwi.gov City Clerk-Treasurer | Christy Skelding | cityclerk@cityofmineralpointwi.gov  CITY OF MINERAL POINT 137 HIGH STREET, SUITE 1 MINERAL POINT, WI 53565 608-987-2361 Motion (Burrows/Christensen) to recommend Council approval of a Grant Administration Contract with Delta 3 for WIDNR Clean Drinking Water and Clean Water Program. Motion carried, all voting aye (3-0). CONSIDERATION OF BOND COUNSEL AGREEMENTS FOR WIDNR CLEAN DRINKING WATER LOAN AND CLEAN WATER PROGRAM. The Bond Counsel is approximately $25,000, which will be covered entirely by the Clean Water Fund and the Safe Drinking Water Loan. Motion (Christensen/Goodney) to recommend Council approval of Bond Counsel Agreements for WIDNR Clean Drinking Water Loan and Clean Water Program. Motion carried, all voting aye (3-0). CONSIDERATION OF AN AWARD OF CONSTRUCTION BID FOR SOUTH AND COMMERCE STREET RECONSTRUCTION. Two bids were submitted for this project. One bid was from Rule Construction, and the other from Parisi Construction. Honer recommends going with the alternate bid, and the low bid, which was Rule Construction. The bids were approximately $100,000 apart. Motion (Goodney/Christensen) to recommend Council award the Construction Bid for South and Commerce Street Reconstruction to Rule Construction, with the alternate . Motion carried, all voting aye (3-0). CONSIDERATION OF SOLDIERS MEMORIAL PARK PARKING LOT AND TENNIS COURT RECONSTRUCTION GRANT APPLICATION. An application for a WIDNR matching grant was submitted April 29, 2025. The City learned in September 2025 that the grant was not awarded to the City. Following the notice from WIDNR, conversations were had between the Tennis Association, the City Administrator, and WIDNR regarding potential changes to the grant for a re-application in 2026. Working through the project with the Tennis Committee and Delta 3, the project was rescoped to have one tennis court, two pickleball courts, and to mill and overlay the parking lot, with an estimated project cost of $690,500. Honer believes the grant will be more challenging to secure this year. The city won’t know until late fall 2026 if the grant will be awarded. Motion (Burrows/Goodney) to recommend Council approval of the City Administrator submitting a grant application to WIDNR for the Soldiers Memorial Park Parking Lot and Tennis Court Reconstruction project. Motion carried, all voting aye (3-0). CONSIDERATION OF THE SALE OF THE STREETS DEPT. PICK-UP AND PURCHASE OF A BUCKET TRUCK. Streets Foreman Whitford would like to sell the recently purchased Ford F-250 pick-up truck and purchase a used bucket truck. The Streets Committee was in general agreement with the plan as presented by the Streets Foreman at the January Streets Committee meeting. OFFICE OF THE CITY CLERK-TREASURER Mayor – Danny Clark City Administrator | Matthew Honer | administrator@cityofmineralpointwi.gov City Clerk-Treasurer | Christy Skelding | cityclerk@cityofmineralpointwi.gov  CITY OF MINERAL POINT 137 HIGH STREET, SUITE 1 MINERAL POINT, WI 53565 608-987-2361 The pick-up truck has approximately 5,000 miles on it and if approved, the city would send it to public auction and put a reserve on it of approximately $39,000. If the truck were to be sold, a bucket truck would be purchased for less than the sale amount. The committee agrees with Whitford’s justification on needing a bucket truck. Motion (Goodney/Burrows) to recommend Council approval of selling the Streets Department Ford F- 250 pick-up truck and purchasing a used bucket truck. Motion carried, all voting aye (3-0). CONSIDERATION OF UTILITIES AND PARK’S DEPT. VEHICLE TRADE AND UTILITIES PURCHASE OF SERVICE BODY. The Parks Department is in need of another vehicle to meet their needs when they have seasonal help. The Water/Sewer Department is seeking two work vehicles. The proposal is for the Utilities to trade the 2021 F-150 and the 2009 F-250 to the Parks Department for the 2021 F-250 the Parks Department currently has. This would allow the Parks Department to still have a newer truck and a second truck. The Water/Sewer Department would have a vehicle that better meets the needs of the department, but will need to update the truck with a service body. Motion (Christensen/Goodney) to recommend Council approval of the Utilities and Parks Department vehicle trade and the Utilities purchase of a service body. Motion carried, all voting aye (3-0). CONSIDERATION OF AWARDING WASTEWATER TREATMENT FACILITIES PLAN. A new facility plan is required by the Wisconsin DNR for the Wastewater Treatment Facility. The Water/Sewer Superintendent received initial proposals from three qualified and reputable engineering firms that are experienced with the requirements of the plan. The Water and Sewer committee held formal presentations from each engineering firm to allow them to present their proposal to the committee and for the committee to have the opportunity to ask questions. Following the presentation, the Committee made their recommendation to go with Town and Country Engineering at a proposed price of $35,000. Motion (Burrows/Goodney) to recommend Council approval for awarding the Wastewater Treatment Facilities plan to Town and Country Engineering. Motion carried, all voting aye (3-0). REVIEW MONTHLY TREASURER’S AND BUDGET REPORTS AND MONTHLY BILLS. Rolli walked through the treasurer’s report as well as the budget report. All bills are standard this month. Motion (Christensen/Goodney) to approve the treasurer’s and budget reports and recommend council pay the bills. Motion carried, all voting aye (3-0). DISCUSSION OF OTHER FINANCE MATTERS The Committee had a short discussion regarding the $1M earmark designated to the City for the replacement of lead service lines. Honer did not have any more information regarding the earmark, but will follow-up when he has an update. OFFICE OF THE CITY CLERK-TREASURER Mayor – Danny Clark City Administrator | Matthew Honer | administrator@cityofmineralpointwi.gov City Clerk-Treasurer | Christy Skelding | cityclerk@cityofmineralpointwi.gov  CITY OF MINERAL POINT 137 HIGH STREET, SUITE 1 MINERAL POINT, WI 53565 608-987-2361 ADJOURN Motion (Burrows/Christensen) to adjourn at 4:58 pm. Motion carried, all voting aye (3-0). OFFICE OF THE CITY CLERK-TREASURER Mayor – Danny Clark City Administrator | Matthew Honer | administrator@cityofmineralpointwi.gov City Clerk-Treasurer | Christy Skelding | cityclerk@cityofmineralpointwi.gov