Laserfiche WebLink
MINUTES OF THE <br /> ORONO CITY COUNCIL MEETING <br /> Monday,July 27,2020 <br /> 6:00 o'clock p.m. <br /> Normally 1/2 to 3/4 of the portfolio would be municipal bonds. He displayed the three new investments in <br /> the second quarter, and Council Members discussed the low percentage rate. <br /> Crosby asked if they were running on a transactional basis or on a fee basis platform. <br /> Olson said he did not remember but the City is not charged a fee directly. <br /> Crosby said if they did charge a fee, Olson would see it because it would be on the statements, so it must <br /> be transactional. <br /> Olson said there is$116,000 interest year-to-date so it's a little less than last year.That's a factor of the <br /> interest rates which have been sliding since the beginning of the year. The City has one 2.2%CD right <br /> now but it matures in August, and after that the highest one is about 1%. It will be a tough year for <br /> interest, but it's also not a huge money-maker. <br /> Walsh indicated the revenue from the permits is what he is tracking because that's an over-and-above <br /> number.As far as real estate taxes,the City budgets for 99%or 100%and it could go to 101 to 102% <br /> with all the fees and overpayments coming in. He would like to make sure that the City is at least getting <br /> to 100%. Living in Orono,most people are paying their taxes on time. <br /> Olson said the City does very well. He stated his worst tax collection since his time at the City was <br /> 97'/2%, which would have been in 2009 or 2010. <br /> Walsh said another good number to track is the budget money that is set aside just to see what percent the <br /> City is at so the City knows how much flexibility there is. If the City raises the budget,they have to <br /> balance that,too. Since the interest rates are so low, the City will have to put money into it, it's just how <br /> much. <br /> Olson stated those are numbers that will be looked at when going through the budgeting process. <br /> MAYOR/COUNCIL REPORT <br /> Seals said she was excited to see fireworks on the water. She is excited to see people outside in the parks. <br /> As far as the LLRC, it is affordable to join. In reality,half the people will be happy and half won't,but <br /> there is probably a solution somewhere. <br /> Printup said he went to a wonderful event, Back The Blue. It has been fun supporting the police. <br /> Crosby stated he joined Printup at the Back The Blue event in Bloomington, and there were a lot of <br /> patriots supporting the police and letting them know that people care. There were a lot of active people, <br /> and he spoke at the rally and was told he did a nice job. He spoke about having an Officer's back and <br /> understanding that Police Officers, especially right now, are going through a tough time and people need <br /> to remember that when there is a dangerous situation,Police and Fire members are the ones who are <br /> there. They are heroes to him.Although there are some issues, Police Officers do an outstanding job and <br /> need to be respected and supported and not defunded but make sure they are properly funded. It will not <br /> be a fun experience to be calling 911 and not getting an answer. <br /> Johnson stated he and Walsh had the Police Commission meeting which gave them a chance to get an <br /> inside look at what the Officers are protecting them from and the responsibility that's included. One of the <br /> Page 19 of 21 <br />