HomeMy WebLinkAboutLansing Building Authority 2000 Minutes MINUTES OF A REGULAR MEETING OF
THE LANSING BUH DING AUTHORITY
HELD ON MAY 18, 2000, 10:30 a.m. 08
Members Present: Michael Navabi, Chairperson(arrived at 10:46 a.m.-) '
Robert Swanson, Treasurer
James D. Smiertka, Secretary
Others Present: Kathleen Frantz,Recording Secretary
Randy Endsley,Finance Department
The meeting was called to order by Bob Swanson at 10:38 a.m.; roll call WE
quorum was present.
1. TRANSFER OF FUNDS
A. $132,907.10 FOR FIRE STATION CONSTRUCTION COSTS
Randy Endsley from the Finance Department was present to provide information
regarding this request for a transfer of funds as follows:
From: Account No. Title Amount
420 000000 3900010 Fund Balance $109,937.61
(Retained Earnings)
420 000000 670000 0 Interest Income $ 22,969.49
Unappropriated Investment Income- 1998 Public Safety Bonds
To: Account No. Title Amount
420 933501 970000 043872 Fire Stations $132,907.10
Fire Station Construction Costs Approved by LBA on 12/09/98
Discussion ensued regarding the history of the bond accounts. Bob Swanson moved to
approve the above transfer; ,Tim Smiertka supported the motion; transfer approved
2-0.
B. $2,876.10 FOR ARBITRAGE COSTS INCURRED FY2000
Bob Swanson indicated that this transfer is for the cost of Arbitrage by Deloitte and
Touche. Randy Endsley indicated that this request is detailed as follows:
From: Account No. Title Amount
583 000000 670000 0 Fund Balance $2,876.10
(Retained Earnings)
Unappropriated Investment Income- 1996 Golf Course Improvements
To: Account No. Title Amount
583 933890 741855 043825 Bond Issue Costs $2,876.10
Arbitrage Costs incurred in FY2000
Discussion ensued regarding the history of the bond accounts. Bob Swanson moved to
approve the above transfer; Jim Smiertka supported the motion; transfer approved
2-0.
Other Business: None
The meeting was adjourned at 10:40 a.m.