HomeMy WebLinkAbout12-13-1994 GOLF MINUTES � ' - t
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CALDWELL GOLF BOARD
ADVISORY BOARD MEETING
DECEMBER 13, 1994 ,'
8:00 A.M.
CITY HALL COUNCIL ROOM
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MEMBERS ATTENDING
DON TOLLEY CHAIRMAN �
GEORGIA HERSH LADIES ASSOCIATION
SHIRLEY AKAGI
BOYD COOPER
- LAURA GAMBOA
MEMBERS UNABLE TO ATTEND
JERRY LANGAN - COUNCIL REPRESENTATIVE
DAVE PAULSEN MENS ASSOCIATION
KRIS INOUYE
BILL MOAD
MIKE GARMAN
STAFF ATTENDING
COLLETTE SANDERS COMMUNITY SERVICES SECRETARY
GORDY CROCKETT GOLF SUPERINTENDENT
LENNY STROUP "FAIRVIEW GOLF PRO
STAFF UNABLE TO ATTEND
JOHN WATSON PURPLE SAGE GOLF PRO
GUESTS
MAYOR WINDER
LISA THOMPSON
BILL GIGREY
LORAINE NAVIS
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A G E N D A
I. UPDATE AND DISCUSSION ON JUDICIAL CONFIRMATION OF
SPRINKLER SYSTEM
Mr. Bi11 Gigrey opened the meeting by updating the Board on
the Judicial Review issue. He stated that he has been working
with Jim Wrigley of First Security Bank and attorney Mike Moore
as bond council on drawing up the document's. Mr. Gigrey explained
that he needs from the Board an exact figure for the project to
submit to the bank. He stated that several things need to be -
considered before a final decision i.s rPached.
Mr. Gigrey recommended that the Board ask for 1.5 million
for the project. This-figure is about $300,000. more than
anticipated for last year. Mr. Gigrey explained that we would not
necessarily use the full amount, but would have a cushion if
something unforseen were to happen. After the bids are in and all
costs figured, we will ask for just the amount needed. Mr. Gigrey
also said that the City must have in reserve 10% of the total
monies. If the Board were to approve 1.5 million, than $150,000.
must be in a City reserve account. He also suggested that this
account be an interest bearing account and separate from the line
item accounts in the general budget. �
Another factor the Board"must consider is the repayment of
the loan and just how much the Golf account can afford each year.
Lisa Thompson, City Finance Director, addressed this issue. She
distributed a financial statement projecting estimated income for
the course over the next 5 years. She estimated that the fund
would be able to repay $155,000. per year for approximately 20 to
22 years. The City's current reserves are $165,000. annually.
Mr. Tolley expressed concern over the 1.5 million figure.
He stated that after the last bid opening, the figure of 1.2
million was told to the public as the figure needed to complete
this project. He said that there was public concern over this
amount, stating that this was too much. Even though we may ask
for 1.5 million and probably will not use that amount, it will be
hard to sell to the public especially when they were told 1.2
million a year ago. Also, the yearly payment of $155,000. would
tie up most of the reserve; not allowing for any small projects
which may need to be done over the years. Mr. Tolley stated that
we should not jeopardize the whole project by asking for 1.5
million. �
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� Mayor Winder stated the public has been told that the
expense for this project would be approximately 1.2 million. To
then ask for 1.5 million would cause alot of controversy
especially when that amount will not be needed. Since the bids
were 1.2 million last year, he recommended asking for 1.3
million. This should cover the inflationary costs since the last
bidding a�d the City does have a reserve of approximately
$325,000. to cover any unexpected expenses. .
After discussion from the Board, it was requested that 1.3
million be recommended to the Council for �he project. Mr. Gigrey
stated that with this figure decided, he could proceed with the
legal documents and draw up the necessary papers. Once the
Council approves this amount, notice can then be published in the
newspaper and start the court proceedings. Mr. Gigrey thought
that everything should be ready for bid by the end of February.
Meeting adjourned 9:00
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