Finance Committee

City of Verona Finance Committee City Hall – 111 Lincoln Street Verona, WI 53593-1520 MINUTES FINANCE COMMITTEE May 13, 2019 The meeting was called to order by Alder Kate Cronin at 5:45 p.m. in Conference Room D110 Roll Call: Alder Kate Cronin and Alder Christine Posey were present. Chairperson Chad Kemp was excused. Also present: Interim City Administrator Adam Sayre, Finance Director Brian Lamers, Fire Chief Joe Giver, Deputy Fire Chief Dan Machotka and Dawn Gunderson-Schiel from Ehlers. Public Comment: None Discussion and Possible Action regarding approval of April 22, 2019 Finance Committee minutes: Motion was made by Posey, seconded by Cronin to approve the April 22, 2019 Finance Committee minutes with no changes noted. Motion carried 2-0. Discussion and Possible Action regarding the Resolution R-19-020 Initial Resolution Authorizing $865,000 General Obligation Bonds for Street Improvement Projects: Dawn Gunderson-Schiel from Ehlers explained the procedure for issuing the 2019A General Obligation Bond. After further discussion a motion was made by Cronin, seconded by Posey to approve Resolution R-19-020 for the initial resolution authorizing $865,000 General Obligation Bonds for Street Improvement Projects and forward to the City Council for discussion and possible action. Motion carried 2-0. Discussion and Possible Action regarding the Resolution R-19-021 Initial Resolution Authorizing $465,000 General Obligation Bonds for Public Works Facility Project: Motion was made by Posey, seconded by Cronin to approve Resolution R-19-021 for the initial resolution authorizing $465,000 General Obligation Bonds for Public Works Facility Project and forward to the City Council for discussion and possible action. Motion carried 2-0. Discussion and Possible Action regarding the Resolution R-19-022 Initial Resolution Authorizing $1,180,000 General Obligation Bonds for Fire Department Equipment: Motion was made by Cronin, seconded by Posey to approve Resolution R-19-022 for the initial resolution authorizing $1,180,000 General Obligation Bonds for Fire Department Equipment and forward to the City Council for discussion and possible action. Motion carried 2-0. Discussion and Possible Action regarding Resolution R-19-023 Directing Publication of Notice to Electors relating to Bond Issue: Motion was made by Posey, seconded by Cronin to approve www.ci.verona.wi.us Resolution R-19-023 for the Directing Publication of Notice to the Electors relating to the Bond Issue and forward to the City Council for discussion and possible action. Motion carried 2-0. Discussion and Possible Action regarding Resolution R-19-024 Providing for the Sale of $2,510,000 General Obligation Corporate Purpose Bonds, Series 2019A: Motion was made by Cronin, seconded by Posey to approve Resolution R-19-024 for the Providing for the Sale of $2,510,000 General Obligation Corporate Purpose Bonds, Series 2019A and forward to the City Council for discussion and possible action. Motion carried 2-0. Discussion and Possible Action regarding the City Investment Report for April 2019: Lamers stated there was nothing worth noting. Discussion and Possible Action regarding Notice of Claim for Vehicle Damage; Lamers explained that Alexander Arnn, owner of Simply Snow and Lawn, LLC has filed a claim with the City for damage that was done to his pickup truck from one the City snow plow drivers in the amount of $1,697.77. Motion was made by Cronin, seconded by Posey to recommend the approval for payment in the amount of $1,677.77 to Simply Snow and Lawn, LLC and forward to the City Council for discussion and possible action. Motion carried 2-0. Discussion and Possible Action regarding Notice of Claim for Vehicle Damage: Lamers explained that Jeremy Lindeen has filed a claim with the City for damage that was done to his vehicle from one the City snow plow drivers in the amount of $8,599.75. The payment had not been included in the payments of bills due to the City not receiving back the release of payment. Motion was made by Posey, seconded by Cronin to recommend the approval for payment in the amount of $8,599.75 to Geico Insurance and forward to the City Council for discussion and possible action. Motion carried 2-0 Discussion and Possible Action regarding the payment of bills: Motion was made by Cronin, seconded by Posey to approve the payment of bills totaling $1,324,532.34. Motion carried 2-0. Adjournment: Motion was made by Posey, seconded by Cronin, to adjourn the Finance Committee Meeting at 6:09 p.m. Motion carried 2-0. Respectfully submitted, Brian Lamers CPA Finance Director www.ci.verona.wi.us