1976-09-20 - Laserfiche WebLink

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Resolution re: Community Development Revenue Sharing and liability insurance program, some of which we had knowledge and others not. He stated that the greatest need which the IBC report explains is the need for General Liability Insurance and Liability Insurance on the natural gas operations. He stated that as an outgrowth of the IBC report they were requested to seek out potential insurance carriers for those coverages which the City desired and create an insurance package which could be sent out for competitive bids. Mr. Tom Atkins of the Insurance Buyers' Council addressed the Council and reviewed the bids and coverage which he recommended the City buy. Mr. Hendrix also explained that since the City has not been able to secure ~ liability insurance on the gas system a fund was created some years ago to allow this gas system to be self insured. This fund is known as the Gas Insurance Fund and on July 1, 1976 had a balance of $484,482. He recommended that the cost of the proposed insurance package be charged .to this fund and that a balance of $250,000 be. maintained in the fund from which deductables will be paid. He also recommended that a contribution b.e made each year to the fund in an amount to cover the cost of the yearly insurance premiums and bring the fund balance back to $250,000 if it had fallen below that figure during the previous year. A motion by Mr. Barbour, seconded by Mr. Gatewood that the bids be accepted as recommended by Mr. Tom Atkins, was unanimously adopted. A report was presented from the City Manager stating the the Community Development Revenue Sharing Task Force made up of citizens and City staff members, met in January and February of this year to develop a recommended program for the spending of Community ~evelopment Revenue Sharing Funds for fiscal year 1976-77. ThiS program was~ recommended to the Planning Commission and Social Hevelopment Commission, both of whom held public hearings on the proposed programs. After the hearings the recommended program was sent to City Council with their comments. City Council then held a public hearing on the program on April 5, 1976 and after deliberating on the CDRS Program for some time the City Council made several changes in the program recommended by the Citizens Task Force. The major changes were additions: $75,000 for Rugby Road Bicycle Project, $50,000 for Hdditional bicycle projects, $35,000 for AAU Boxing Program, $7500 for the Jefferson Park Avenue Sidewalk and $3750 Emmet Street Sidewalk and the following deletions: $45,000 for housing programs, $40,000 for Park Program and $20,000 for Street Programs. He stated that the program as adopted by City Council was approved by HUD with the following exceptions: AAU Boxing Program, $35,000 and Social Programs, $125,683. He stated the funds for the projects not approved by HUD were put back into the total grant as part of a contingency fund and these funds are not available to the City as soon as specific purpose is specified. He stated on June 29, 1976 we received a copy of