12/17/1980 - City Council Special
00317 Z
MINUTES OF A SPECIAL MEETING OF THE EAGAN CITY COUNCIL
EAGAN, MINNESOTA
DECEMBER 17, 1980
A special meeting of the Eagan City Council was held on December
17, 1980 at 5:00 p.m. in the office of the City Administrator. Those present
were Mayor Blomquist, City Councilmembers Egan, Smith, Wachter and Parranto.
Also present were City Administrator Hedges, Director of Finance VanOverbeke
and City Clerk-Treasurer Bolke. Mr. Ernie Clark, the City's fiscal consultant
representing Miller & Schroeder Municipals, Inc., was also present.
$3,650,000 GENERAL OBLIGATION IMPROVEMENT BOND
Mr. Ernie Clark, the City's fiscal consultant representing Miller
& Schroeder Municipals, Inc., reported that bids were received at 12:00 noon,
December 17, 1980, to consider the sale of $3,650,000 of General Obligation
Improvement Bonds. He reported that the low bidder was BancNorthwest offering
a net proceed of $3,665,474.90. Mr. Clark further stated that the accrued
interest from December 1, 1980 through January 28, 1981 is $51,974.90, and,
therefore, the cost of the bond per bid is $3,613,500. The rate of interest
was 9.2661%. After further discussion on the matter, and in a motion by Smith,
seconded by Egan, with all members voting in favor, the low bid submitted by
BancNorthwest for the $3,650,000 General Obligation Improvement Bond Sale was
approved as presented by the fiscal consultant.
SEVERANCE PAY COMPENSATION FOR ALYCE BOLKE
City Administrator Hedges reported that he received a letter from
City Clerk-Treasurer Bolke that listed the accumulation of vacation, sick leave
and compensatory time she had accumulated over the thirteen years of employment
she was granted benefits by the Township, Village and City. He stated that,
after calculating the unused hours accumulated for vacation, sick leave and
compensatory time at her hourly rate of pay in 1980 of $9.59, the City would
be responsible for payment in the amount of $21,750.12 upon Mrs. Bolke's retire-
ment effective December 31, 1980. After review of the letter and a brief dis-
cussion by the City Council regarding the severance pay request by Mrs. Bolke,
the City Administrator was directed to research her personnel history and compute
the severance pay for unused vacation and sick leave time during the years she
was appointed as City Clerk-Treasurer. It was the position of the City Council
that unused vacation and sick leave benefits are not eligible for compensation
upon retirement to Mrs. Bolke. Members of the City Council also expressed that
compensatory time was never considered a benefit; and, therefore, unused
compensatory time is recorded in her hours of employment and should not be com-
pensated.
ADJOURNMENT
Upon motion duly made and seconded, the meeting was adjourned at
6:30 p.m.
Dated: December 17, 1980 TLH
City Clerk