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06-16-1959_SpecialICJ Lt}~iG RANGE CAi'ITAL IM~'ROYEME~}TS i'LA~Ii~I~fG COMMISSION PILLAGE OF RICHFIELD SPECIAL MEETING .3une lb, 1959 AiINt3TES Regular ~amembers of the Low Range Capital Improvements Plannirng Coa~ission met June 1b, 1959 in the Council Chambers of the Pillage Hall. The meeting wan called to order at ?;OS F.M. Members present were:- Coombs, Erspamer, iteiter and Grunditz. .Absent: Nonea Coombs moved to dispense with all business except discussion of finance. Second by Reiter. Carried unanimously. Mr. Ed Moline, Director of Finance and Clete-Treasurer for the Village, was present to discuss the financial affa~.rs of the village. 1. Villa a Finan es Ae tout a ugon t e limitations placed on aunicipalities in reference to their ability to tax and to issue bonds, die also stated that ~35t3 is the recon~-ended pAr capita debt foP co~ua- ities. At present Richfield's per capita debt is ~4?S. There was considerable discussion about the adoiszbi3ity of using all liquor store funds for capital improvements, In view of the large amount of more being spent for interest, it was the con- sensus that than wou~d bo a c~ise moos. An example of the interest: paid on a ~b2'fl04 bond issue Was given. Raising the mill rate seemed preferable to issuir~ bonds under cert~.n circumstanceso it was pointed out that one mill produces $lb,t~44 gor Richfie~.d. $uestionxng brought out that municipalities vary as to their ways og using liquor store funds. Also in some communities capit~hl ~aprovement budgets are broken away from the other part of the budget while ©the r communitae~ combx~ae the tt~o . 2 5 bmis ion H_~ e ge anager will be presea~ting his be:dget tc~ the Councf~. on Set er 14th, end by October ~.Otb~ it must be certif ~.ed to tf~te Auditor. IL wes felt that under these o~.rcumst€eiees ti3e Cort~aission~s report should be ready in late August instead of by Qctober lath. Effort wou~.d be made to neat the August deadline. *.. Cizarts showing such things as the total mill logy tor- 195-59 were passed around. Mr. Moline indicated he ~~oula $e aoailable £or consultation on financing. f :157 ~.RCIPC - Speci~;.i. Afeetirt~; of 3une Ifi, 3959 page 2 5 o AIext ~ieetit Coombs ffioee to hive teie seat meeting oxt June 23, 1959 for regular ~nemtaers. ~ecand~ by Re~.ter. ~Ina~i~eousip carried. At this meeting an effuPt Mould be made tm ~~rite the ~preaxnb~.e to the Commission's re~pvrt. 4. Ad iourxsment to ter mc9ved to ad~c~~zrn at J:1~ Y.Mo Secand by Cr~ndi~;~. Caxriec~a ~es~ctfullp submitted, /s/ ~turie2 Grundit2 hrs. Gordon Crundita ~-ecretary