Finance Committee Meeting-AMENDED

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, February 10, 2025, 4:00 PM City Hall Community Room 1. Call to Order, Roll Call, and Confirmation of Compliance with the Open Meetings Law. Chair Galle called the meeting to order at 4:00 pm. Gary Galle, Chair Present Keith Burrows Present Dean Martin Present (4:09pm) Others Present: Administrator Matt Honer, Deputy Clerk-Treasurer Renee Rolli, APPROVAL OF JANUARY 31, 2025 MINUTES Motion (Burrows/Galle) to approve January 31, 2025 minutes. Motion carried, all voting aye (2-0). DISCUSSION AND CONSIDERATION OF DISTRIBUTING IOWA COUNTY ECONOMIC DEVELOPMENT FUNDING TO THE MINERAL POINT OPERA HOUSE FOR MARKETING EXPENSES. Administrator Honer discussed the proposals that came to the City and were forwarded to the County. The County was unable to directly pay the grants and it needed to go through the City. Motion (Burrows/Galle) to recommend Council approval of distributing the Iowa County Economic Development Funding to the Mineral Point Opera House. Motion carried, all voting aye (2-0). DISCUSSION AND CONSIDERATION OF DOSING PUMP REBUILD. Administrator Honer stated that this pump was replaced in 2024 and the Sewer Dept. is looking to rebuild it and utilize the rebuilt pump to replace the #2 pump in the 3 pump series. Motion (Burrows/Galle) to recommend Council approval the Dosing Pump Rebuild as presented by the Water/Sewer Department. Motion carried, all voting aye (3-0). DISCUSSION AND CONSIDERATION OF WELL 4 CORROSION ASSESSMENT. Administrator Honer stated that Well 4 is experiencing efficiency issues that likely point to a hole in the wall of the well. This was a problem less than 10 years prior and the well was pulled and rebuilt. The suspected cause of the previous issue was stray voltage. Honer stated that Nate Fosbinder of the water and sewer dept. believes the issue is likely to be a biologic corrosion that is happening and initial test results appear to support that being the case. Alder Martin stated that the Water & Sewer Committee reviewed it and recommends approval. Motion (Burrows/Martin) to recommend Council approval the Corrosion assessment and testing as presented. 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  CITY OF MINERAL POINT 137 HIGH STREET, SUITE 1 MINERAL POINT, WI 53565 608-987-2361 CONSIDERATION OF GENERAL BUSINESS SECURITY AGREEMENT AND PROMISSORY NOTE FOR FIVE POINTS MARKET, LLC., A NEW LOAN FROM THE CITY’S REVOLVING LOAN FUND. Administrator Honer presented the promissory notice, amortization table, and general business security agreement. The Committee about the organization of the two business under the single LLC. Motion (Burrows/Martin) to recommend Council approval of the General Business Security Agreement and the Promissory note as presented. Motion carried, all voting aye (3-0). CONSIDERATION OF ESTIMATES FOR THE DAVIS STREET RECONSTRUCTION AND OTHER INFRASTRUCTURE IMPROVEMENTS IN 2025. Alder Martin informed the Committee what was discussed at the recent Streets Committee. Motion (Burrows/Martin) to recommend Council approval creating and advertising bids for the reconstruction of Davis Street and include portions of N. Wisconsin and Washington Street as alternates. Motion carried, all voting aye (3-0). CONSIDERATION OF RESOLUTION 2025-02, RESOLUTION AUTHORIZING BORROWING $550,000 FOR AQUIRING LAND FOR FUTURE DEVELOPMENT IN TID #2. Motion (Burrows/Martin) to recommend Council approval of Resolution 2025-02 as presented. Motion carried, all voting aye (3-0). CONSIDERATION OF RESOLUTION 2025-03, RESOLUTION AUTHORIZING REORGANIZATION OF WATER, SEWER, AND GENERAL OBLIGATION DEBT. Administrator Honer presented the issue and the purpose of the resolution. Motion (Martin/Burrows) to recommend Council approval of Resolution 2025-03 as presented. Motion carried, all voting aye (3-0). DISCUSSION AND CONSIDERATION OF AGREEMENT WITH THE MINERAL POINT POLICE ASSOCIATION/WISCONSIN PROFESSIONAL POLICE ASSOCIATION. Administrator Honer presented the changes to the agreement. Burrows discussed personnel’s participation and review of the final agreement. Both discussed that the contract is in line with comparable communities and that the City’s attorney believes that mediation and arbitration would likely result in a very similar agreement. Galle asked about the additional accumulation of sick time and the additional pay out of sick time at retirement. No action taken. REVIEW MONTHLY TREASURER’S AND BUDGET REPORTS Motion (Martin/Galle) to accept monthly Treasurer’s and Budget Reports and place on file. Motion carried, all voting aye (3-0). APPROVAL OF MONTHLY BILLS 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/Martin) to recommend Council approval of the monthly bills. Motion carried, all voting aye (3-0). UPDATE ON OTHER FINANCE MATTERS ADJOURN Motion (Martin/Burrows) to adjourn at 4:55 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