The regular meeting of the Slater City Council was called to order by Mayor Rick Rewerts at 7:30 P.M. on March 26, 2007, at City Hall, 105 Greene St., Slater, Iowa. The meeting had been moved from March 19^th to the 26^th pursuant to action at the meeting on March 12, 2007. The roll being called the following Council members were present and absent: Present: O’Donnell, Schick, Staples, and Cook. Absent: Pritchard. Others in attendance were Public Works Director LaDonna Chriswell, Chip Schultz with Ruan Securities, Doug Schonhorst with General Insurance, Howard Hammond, Firefighters - Fred Mason, Gary Halverson, Ron Vespestad, Steve Birkestrand, Dale Petersen, Wes Ransom, Brent Strumpfer, Stuart Schonhorst, and Matt Weigel.

Fred Mason was provided a check for personal rings and recognition items payable to the Firefighter’s Association from the remaining Petersen Bequest funds given in to the City in approximately 2001. He requested that the balance of the funds be turned over to the Firefighter’s Association so that they did not have to be accountable to the City for the use or timing of expenditures. The City Administrator indicated that she had met several times with the firefighter’s discussing budget issues including the need to have gifted funds included in the annual budget or at a minimum having an appropriation cover prior to expending the money. The firefighter’s Peterson endowment has recently been moved from the General Fund to its own fund to preserve its integrity.

Since the matter was not on the agenda and the delegation arrived unannounced, it was suggested that time be allowed to consult legal and accounting professionals to assist in documenting the proper handling of these funds and what constitutes public purpose. One option mentioned was to amend the current year budget and deplete the funds ending the confusion about control of its spending. The question was posed as to whether the Firefighter’s Association was established under the 501(c) (3) IRS regulations and whether they represent the City. The question remains unclear. The matter was taken under advisement. The firefighters then left the meeting.

Clifton "Chip" Schultz with Ruan Securities presented the Council with updated details related to the financial issues on the agenda and was available to answer questions at the public hearings. Howard Hammond was present and was given clarification on the proposed financing.

The Mayor announced that this was the time and place for the public hearing and meeting on the matter of the authorization of a Loan Agreement and the issuance of, not to exceed $260,150 General Obligation Capital Loan Notes, Series 2007B, in order to provide funds to pay costs of construction of street improvements, acquisition of equipment for the Fire Department and for civil defense, and acquisition of equipment for the Street Department, together with related work, an essential corporate purpose, and that notice of the proposed action by the Council to institute proceedings for the authorization of the Loan Agreement and the issuance of the Notes, had been published in the Tri-County Times on March 15, 2007, pursuant to the provisions of Sections 384.24, 384.24A and 384.25 of the Code of Iowa, as amended.

The Mayor then asked the Clerk whether any written objections had been filed by any city resident or property owner to the proposal. The Clerk advised the Mayor and the Council that no written objections had been filed. The Mayor then called for oral objections to the proposal and none were made. Whereupon, the Mayor declared the time for receiving oral and written objections to be closed.

The Council then considered the proposed action and the extent of objections thereto.

Whereupon, Council Member O’Donnell introduced and delivered to the Clerk a resolution entitled: " RESOLUTION INSTITUTING PROCEEDINGS TO TAKE ADDITIONAL ACTION FOR THE AUTHORIZATION OF A LOAN AGREEMENT AND THE ISSUANCE OF NOT TO EXCEED $260,150 GENERAL OBLIGATION CAPITAL LOAN NOTES, SERIES 2007B"and moved that the resolution be adopted. Council Member Cook seconded the motion to adopt. The roll was called and the vote was: Yes: O’Donnell, Cook, Staples and Schick. No: None.

Whereupon, the Mayor declared the motion carried and the measure duly adopted. The resolution was given Number 22 (2006-2007) for the records.

Council Member O’Donnell introduced a resolution entitled "RESOLUTION AUTHORIZING AND PROVIDING FOR THE ISSUANCE OF $535,000 GENERAL OBLIGATION CAPITAL LOAN NOTES, SERIES 2007B, AND LEVYING A TAX TO PAY THE NOTES, and moved that the same be adopted. Council Member Schick seconded the motion to adopt. The roll was called and the vote was: Yes: O’Donnell, Schick, Staples and Cook. No: none.

Whereupon, the Mayor declared the motion carried and the resolution adopted. The resolution was given Number 23 (2006-2007) for the records.

The Mayor announced that this was the time and place for the public hearing and meeting on the matter of the authorization of a Loan Agreement and the issuance of not to exceed $95,000 Taxable General Obligation Capital Loan Notes, Series 2007A, in order to provide funds to pay costs of construction of street improvements, equipping the fire and street departments and improvements and equipping existing parks, together with related work, an essential corporate purpose, and that notice of the proposed action by the Council to institute proceedings for the authorization of the Loan Agreement and the issuance of the Notes, had been published in the Tri-County Times on March 15, 2007 pursuant to the provisions of Sections 384.24, 384.24A and 384.25 of the Code of Iowa, as amended.

The Mayor then asked the Clerk whether any written objections had been filed by any city resident or property owner to the proposal. The Clerk advised the Mayor and the Council that no written objections had been filed. The Mayor then called for oral objections to the proposal and none were made. Whereupon, the Mayor declared the time for receiving oral and written objections to be closed.

The Council then considered the proposed action and the extent of objections thereto.

Whereupon, Council Member Staples introduced and delivered to the Clerk a resolution entitled: "RESOLUTION INSTITUTING PROCEEDINGS TO TAKE ADDITIONAL ACTION FOR THE AUTHORIZATION OF A LOAN AGREEMENT AND THE ISSUANCE OF NOT TO EXCEED $95,000 TAXABLE GENERAL OBLIGATION CAPITAL LOAN NOTES, SERIES 2007", and moved that the same be adopted. Council Member O’Donnell seconded the motion to adopt. The roll was called and the vote was: Yes: Staples, O’Donnell, Schick, and Cook. No: none.

Whereupon, the Mayor declared the motion carried and the measure duly adopted. The resolution was given Number 24 (2006-2007) for the record.

The Mayor announced that this was the time and place for the public hearing and meeting on the matter of the authorization of a Loan Agreement and the issuance of not to exceed $35,000 Taxable General Obligation Capital Loan Notes, Series 2007A, in order to provide funds to pay costs of improvements to the Fire Department Building and the Street Maintenance Building and equipping the library, together with related work, a general corporate purpose, and that notice of the proposed action by the Council to institute proceedings for the authorization of the Loan Agreement and the issuance of the Notes and the right to petition for election, had been published in the Tri-County Times on March 15, 2007 pursuant to the provisions of Sections 384.24, 384.24A, 384.25 and 384.26 of the Code of Iowa, as amended.

The Mayor then asked the Clerk whether any petition had been filed in the Clerk’s Office, as contemplated in Section 384.26 of the Code of Iowa, and the Clerk reported that no such petition had been filed, requiring the question of issuing the notes be submitted to the qualified electors of the City.

Whereupon, the Mayor declared the hearing on the authorization of entering into a loan agreement and the issuance of notes to be closed.

Whereupon, Council Member Staples introduced and delivered to the Clerk a resolution entitled: RESOLUTION INSTITUTING PROCEEDINGS TO TAKE ADDITIONAL ACTION FOR THE AUTHORIZATION OF A LOAN AGREEMENT AND THE ISSUANCE OF NOT TO EXCEED $35,000 TAXABLE GENERAL OBLIGATION CAPITAL LOAN NOTES, SERIES 2007A, and moved that the same be adopted. Council Member Cook seconded the motion to adopt. The roll was called and the vote was: Yes: Staples, Cook, O’Donnell, and Schick. No: none.

Whererupon, the Mayor declared the motion carried and the measure duly adopted. The resolution was given Number 25 (2006-2007) for the record.

The Mayor asked the Clerk whether any petition had been filed in the Clerk’s Office, as contemplated in Section 362.4 of the Code of Iowa, and the Clerk reported that no such petition had been filed, requesting that the question of issuing Taxable General Obligation Capital loan Notes, Series 2007A, be submitted to the qualified electors of the City.

The Mayor announced that this was the time and place for the public hearing and meeting on the matter of the authorization of a Loan Agreement and the issuance of not to exceed $475,000 Taxable General Obligation Capital Loan Notes, Series 2007A, in order to provide funds to pay costs of aiding in the planning, undertaking and carrying out of an urban renewal project, including building demolition, purchase of land, and funds for a revolving loan fund program, together with related work, an essential corporate purpose, and that notice of the proposed action by the Council to institute proceedings for the authorization of the Loan Agreement and the issuance of the Notes, had been published in the Tri-County Times on March 15, 207 pursuant to the provisions of Sections 384.24, 384.24A and 384.25 of the Code of Iowa, as amended.

The Mayor then asked the Clerk whether any written objections had been filed by any resident or property owner to the proposal. The Clerk advised the Mayor and the Council that no written objections had been filed. The Mayor then called for oral objections to the proposal and none were made. Whereupon, the Mayor declared the time for receiving oral and written objections to be closed.

The Council then considered the proposed action and the extent of objections thereto.

Whereupon, Council Member Schick introduced and delivered to the Clerk a resolution entitled: "RESOLUTION INSTITUTING PROCEEDINGS TO TAKE ADDITIONAL ACTION FOR THE AUTHORIZATION OF A LOAN AGREEMENT AND THE ISSUANCE OF NOT TO EXCEED $475,000 TAXABLE GENERAL OBLIGATION CAPITAL LOAN NOTES, SERIES 2007A", and moved that the same be adopted. Council Member O’Donnell seconded the motion to adopt. The roll was called and the vote was: Yes: Schick, O’Donnell, Cook, and Staples. No: none.

Whereupon, the Mayor declared the motion carried and the measure adopted. The resolution was given Number 26 (2006-2007) for the record.

Council Member Cook introduced a resolution entitled: RESOLUTION AUTHORIZING AND PROVIDING FOR THE ISSUANCE OF $590,000 TAXABLE GENERAL OBLIGATION CAPITAL LOAN NOTES, SERIES 2007A, AND LEVYING A TAX TO PAY THE NOTES and moved that it be adopted. Council Member O’Donnell seconded the motion to adopt, and the roll being called the vote was: Yes: Cook, O’Donnell, Schick, and Staples. No: none.

Whereupon, the Mayor declared the motion carried and the measure adopted. The resolution was given Number 27 (2006-2007) for the record.

A proposal for a second step Water Rate analysis was presented in a Consultant Service Agreement with Snyder and Associates, Inc. at a proposed fee of $1,500 which is an eligible cost under the Iowa Finance Authority Funding loan.

It was noted that a rate increase planned for 2004 intended to generate income to offset operating expenses and pay for debt service costs on a project updating the wastewater lagoon had not been implemented. Sheldahl not having completed their connection to the Slater system and providing their agreed upon payment for capacity has compounded the financial shortfall. Staff recommends immediate action to correct the matter. A rate study analyzing the sewer fees is proposed to cost $2,750 by Snyder’s.

After due consideration it was moved by Staples and seconded by O’Donnell to authorize the City Administrator to execute both the water and wastewater rate study agreements with Snyder and Associates and begin the work at the earliest possible date. The motion passed with record vote as follows: Yes: Staples, O’Donnell, Schick, and Cook. No: none.

Council Member Staples moved to approve expenditures totaling $51,021.06 as follows:

Council Member O’Donnell seconded the motion and it passed with record vote as follows: Yes: Staples, O’Donnell, Cook, and Schick. No: none. The Mayor declared the motion carried.

The Council was informed that work has resumed at 400 Main Street and is progressing. Randy Kennedy has been in contact with the staff and anticipates completion of the siding in the next few weeks.

A meeting is scheduled with the Coalition for Disaster Recovery and FEMA on March 27, 2007 to discuss funding and coordination of the storm debris clean-up planned for April 14, 2007.

The Council accepted and placed on file the January and February Treasurer’s reports after reviewing them in line item detail.

It was moved by Staples and seconded by Schick to adjourn at 10:40 p.m., the motion carried and the meeting adjourned.