HomeMy WebLinkAbout1979-09-17 (Regular) Meeting MinutesREGULAR MEETING:
COUNCIL CHAMBERS
CITY OF ENGLEWOOD, COLORADO
September 17, 1979
The City Council of the City of Englewood, Arapahoe
County, Colorado, met in regular session on September 17, 1979,
at 7:30 p.m.
Mayor Taylor, presiding, called the meeting to order.
The invocation was fiven by City Manager Andy Mccown.
The Pledge of Allegiance was ed by Boy Scout Troop #92.
Mayor Taylor asked for roll call. Upon a call of the
roll, the following were present:
Council Members Williams, Giseburt, Smith, Harper,
Clayton, Mann, Taylor.
Absent: None.
The Mayor declared a quorum present.
* * * * * *
Also present were: City Manager Mccown
Assistant City Manager Curnes
City Attorney Berardini
Deputy City Clerk Watkins
* * * * * *
COUNCILMAN GISEBURT MOVED TO APPROVE THE MINUTES OF THE
REGULAR MEETING OF SEPTEMBER 4, 1979. Councilman Harper seconded
the motion. Upon a call of the roll, the vote resulted as follows:
Ayes: Council Members Williams, Giseburt, Smith,
Harper, Clayton, Mann, Taylor.
Nays: None.
The Mayor declared the motion carried.
* * * * * *
Mr. Pat Myles, attorney for the law firm Criswell & Pat-
terson, was present on behalf of Mr. John Criswell. Mr.Myles
stated he was representing KPL, Inc. in a request that a public
hearing be set for a retail liquor store license to be located in
the King Soopers Complex at 701 West Hampden Avenue.
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September 17, 1979
Page 2
COUNCILMAN MANN MOVED TO SET THE PUBLIC HEARING DATE
FOR THE REQUEST FOR A RETAIL LIQUOR STORE LICENSE ON OCTOBER 22,
1979, AT 7:30 P.H. AND TO SET THE NEIGHBORHOOD PETITIONING AREA
AT A TWO MILE RADIUS. Councilman Smith seconded the motion. Upon
a call of the roll, the vote resulted as follows:
Ayes:
Nays:
Council Members Williams, Giseburt, Smith,
Harper, Clayton, Mann, Taylor.
None.
The Mayor declared the motion carried.
* * * * * *
Ma. Anne Robinson, Director of CHINS Group Home, was pre-
sent and requested $5,000 or whatever amount Council deemed appro-
priate as financial aid to help refurbish the CHINS home damaged
extensively by fire on September 8th.
Ms. Robinson answered questions from Council concerning
how the home was financed and if any other agencies 'had been con-
tacted in a request for financial assistance. Ms. Robinson stated
each county is billed per client for which the home provides shelter
and care. Also, she stated her agency had contacted area cities
and counties which the home services and had hoped to received a
reply from them in the near future.
COUNCILMAN CLAYTON K>VED TO AUTHORIZE THE MAYOR TO APPOINT
TWO PEOPLE AT HIS JUDGEMENT TO DISCUSS THIS QUESTION WITH THE PRO-
PER PEOPLE INVOLVED AND TO MAKE A REPORT TO THE CITY COUNCIL AT THEIR
DISCRETION. Councilman Giseburt seconded the motion.
Councilman Smith stated he thought the county should be
the agency supporting the request and suggested the designated people
look into temporary housing for the home and possibly donate $1,000
to defray expenses while the agency is looking for something else.
Upon a call of the roll, the vote resulted as follows:
Ayes: Council Members Williams, Giseburt, Smith,
Harper, Clayton, Mann, Taylor.
Nays: None.
The Mayor declared the motion carried.
Mayor Taylor appointed Councilmen Clayton and Giseburt
to research the matter and report back to Council.
September 17, 1979
Page 3
Mayor Taylor granted Councilman Clayton's request to
utilize any help from the staff that he and Councilman Giseburt
might need.
* * * * * *
Mayor Taylor asked if there were any other visitors in
audience vi1hing to speak to Council.
Isabella Knight, 3021 South Lincoln, appeared before Coun-
cil. Ma. Knight spoke against the proposed bill that would allow
smoking during public meetings. Ms. Knight stated sh~ would like
to an area designated for "no smoking" during a public meeting if
Council passed the ordinance.
Mayor Taylor asked if there were any other visitors wish-
ing to speak to Council. No one responded.
* * * * * *
COUNCILMAN CLAYTON ~VED TO OPEN THE PUBLIC HEARING ON A
REQUEST FOR A SPECIAL EVENTS PERMIT TO SERVE BEER, WINE AND LIQUOR
AT THE ANNUAL FUND RAISING PROGRAM TO BE HELD ON OCTOBER 21, 1979
FOR THE SAINT LOUIS CHURCH, HOME AND SCHOOL, 3310/3301 SOUTH SHER-
MAN STREET. Councilman Mann seconded the motion. Upon a call of
the roll, the vote resulted as follows:
Ayes:
Nays:
Council Members Williams, Giseburt, Smith,
Harper, Clayton, Mann, Taylor.
None.
The Mayor declared the motion carried.
Mayor Taylor asked if there was a representative from
the Saint Louis Home and School organization present.
Mary Jo Chik, 3110 South Delaware, appeared before Coun-
cil as the representative. Ms. Chik stated the home and school
association .is the parent organization of the school and they were
not associated with the national PTA. Ms. Chik requested that
Council grant the permit to sell beer and wine at their annual
fund raising spaghetti dinner.
Councilman Smith stated he understood the liquor code
to prohibit the serving of liquor on school grounds regardless of
whether the school is in or out of session.
September 17, 1979
Page 4
City Attorney Berardini stated the liquor code allows the
serving of liquor on school premises as long as the school is not in
session.
Councilman Smith asked for clarification of the question
before action was taken to grant or deny the request for a special
events permit.
COUNCILMAN CLAYTON MOVED THAT THE HEARING BE RECESSED AND
BE CALLED BACK WHEN THE CITY ATTORNEY HAS ANSWERS TO THE REQUESTED
QUESTION AND TO DELAY THE PUBLIC HEARING ON THE SPECIAL EVENTS PER-
MIT FOR THE VOLUNTEER FIRE DEPARTMENT AND TO PROCEED TO AGENDA ITEM
4C THE PRE-BUDGET PUBLIC HEARING. Councilman Smith seconded the
motion. Upon a call of the roll, the vote resulted as follows:
Ayes:
Nays:
Council Members Williama, Giseburt, Smith,
Harper, Clayton, Mann, Taylor.
None.
The Mayor declared the motion carried.
* * * * * *
COUNCILMAN CLAYTON MOVED TO OPEN THE PRE-BUDGET PUBLIC
HEARING. Councilman Smith seconded the motion. Upon a call of
the roll, the vote resulted as follows:
Ayes:
Nays:
Council Members Williams, Giseburt, Smith,
Harper, Clayton, Mann, Taylor.
None.
The Mayor declared the motion carried.
City Manager Mccown stated the purpose of the pre-budget
hearing was to receive input from citizens as to what they think
the Council and the staff should be considering or not considering
as part of the budget for the fiscal year 1980.
Mayor Taylor asked if anyone in the audience wished to
address Council on this matter.
Maurice Jones, 5020 South Washington, appeared before
Council. Mr. Jones asked for clarification on the budget pro-
cess. Mr. Jonea asked if there were any monies available in the
proposed budget for 1980 for Duncan Park.
September 17, 1979
Page 5
City Manager Mccown explained the budget process and how
public improvements projects are incorporated into the budget. Mr.
Mccown stated that funds for the improvement of Duncan Park were
placed in the public improvement fund.
Isabella Knight, 3021 South Lincoln, appeared before
Council and proposed that a co11111Unity center be built. Ms. Knight
stated the City needs a place for young people to go.
Eva Eisenberg, 4955 South Galapago, apeared before Coun-
cil and requested that a contribution be made to the Arapahoe House.
Mrs. Eisenberg stated the agency has out grown its facilities to
house clients who stay on a long term basis.
Mrs. Myrtle Jones, 5020 South Washington, appeared before
Council. Mrs. Jones noted ~hat monies were budgeted in 1981 and
in 1982 for the Duncan School project under the public improvement
fund. Mrs. Jones suggested that unless the improvements provide
for bath room facilities, nothing be done.
Mayor Taylor asked if there was anyone else wishing to
speak to Council on the budget for 1980. No one responded.
COUNCILMAN CLAYTON MOVED ·To CLOSE THE PUBLIC HEARING.
Councilman Smith seconded the motion. Upon a call of the roll,
the vote resulted as follows:
Ayes: Council Members Williams, Giseburt, Smith,
Harper, Clayton, Mann, Taylor.
Nays: None.
The Mayor declared the motion carried.
* * * * * *
Mayor Taylor reconvened the r~cesa made by Councilman
Clayton's motion on the special events permit request from Saint
Louis School.
Councilman Smith requested the City Attorney to read
the regulations concerning his question.
City Attorney Berardini transmitted copies of Title XII,
Article 48, Section 107, in particular 48-107.2. Mr. Berardini
stated the regulation states that the issuance of the permit is
permissible as long as the event is within a certain distance from
the school and is not held while school is in session.
September 17, 1979
Page 6
Mary Joan Chik, reappeared before Council and confirmed
that no claaaes would be in session on the day of the event.
Deputy Clerk Watkins stated that Ma. Chik had produced a
photograph of the posting of the notice of public hearing for the
record.
Mayor Taylor asked if there was anyone wishing to speak
in favor of granting the permit.
Thomas Fitzpatrick, 3155 South Acoma, appeared before
Council. Mr. Fitzpatrick stated the proceeds from the event help
defray coats of running the school.
Joe Bilo, 4095 South Jason, appeared before Council. Mr.
Bilo stated he felt the event was for a good purpose and that it
was a way for the association to raise money without coming to Coun-
cil and asking for a donation.
Mayor Taylor asked if there was anyone wishing to speak
against the permit.
Eva Eisenberg, 4955 South talapago, appeared before
Council. Mrs. Eisenberg stated she was against religious in-
stitutions serving liquor. Mrs. Eisenberg asked how it was
going to be controlled to avoid selling liquor to minors.
Ma. Chik appeared before Council and stated there would
be people to check the identification of those people who appear
to be under age.
COUNCILMAN HARPER MOVED TO CLOSE THE PUBLIC HEARING.
Councilman Clayton seconded the motion. Upon a call of the roll,
the vote resulted as follows:
Ayes:
Nays:
Council Members Williams, Giseburt, Smith,
Harper, Clayton, Mann, Taylor.
None.
The Mayor declared the motion carried.
COUNCILMAN WILLIAMS MOVED TO GRANT THE SPECIAL EVENTS
PERMIT TO SAINT LOUIS CHURCH, HOME AND SCHOOL, 3310/3301 SOUTH
SHERMAN STREET, TO SERVE BEER, WINE AND LIQUOR AT THE ANNUAL FUND
RAISING PROGRAM TO BE HELD ON OCTOBER 21, 1979. Councilman Gise-
burt seconded the motion. Upon a call of the roll, the vote re-
sulted as follows:
September 17, 1979
Page 7
Ayes:
Nays:
The Mayor
Council
Harper,
None.
declared
Members Williams, Giseburt, Smith,
Clayton, Mann, Taylor.
the motion carried.
Councilman Smith stated a valid point was made on check-
ing the identification of people who might be questionable in re-
gard to their age. Mr. Smith stated the sell of liquor to a minor
may damage future changes of getting a permit.
* * * * * *
COUNCILMAN CLAYTON K>VED TO OPEN THE PUBLIC HEARING ON
THE REQUEST FOR A SPECIAL EVENTS PERMIT TO SERVE BEER, WINE AND
LIQUOR AT THE ANNUAL FIREMEN'S BALL SPONSORED BY THE VOLUNTEER
FIREMEN TO BE HELD ON SEPTEMBER 22, 1979, IN THE BLUE MALL OF
CINDERELLA CITY. Councilman Mann seconded the motion. Upon a
call of the roll, the vote resulted as follows:
Ayes:
Nays:
Council Members Williams, Giseburt, Smith,
Harper, Clayton, Mann, Taylor.
None.
The Mayor declared the motion carried.
Mayor Taylor asked if anyone was present to represent
the Volunteer Firemen'• request.
Donald Seymour, 4750 South Lipan, appeared before Coun-
cil as the representative. Mr. Seymour requested that Council is-
aue the-permit to serve beer, wine and liquor at their annual fund
raiaing ·ball. Mr. Seymour stated the proceeds go towards funding
the training and educational program for the volunteer firemen.
Deputy Clerk Watkins stated that Mr. Seymour had pro-
duced a photograph of the posting of the notice of public hear-
ing for the record.
Mayor Taylor asked if anyone in the audience wished to
speak in favor of granting the permit.
Thad Caraon, 3990 South Jason, appeared before Council.
Mr. Caraon stated he waa in favor of granting the permit since
the ball is a long term event and, aa far as he knew, with no in-
cidents.
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September 17, 1979
Page 8
Thoma• Fitzpatrick, 3155 South Acoma, appeared before
Council. Mr. Fitzpatrick stated he was in favor of issuing the
permit knowing that everyone would have a good time and that the
event would be well regulated.
Joe Bilo, 4095 South Jason·, appeared before Council and
spoke in favor of granting the permit. Mr. Bilo stated the event
waa for a worthy cause and a good annual affair.
Mayor Taylor asked if anyone wished to speak against the
permit.
Eva Eisenberg, 4955 South Galapago, appeared before Coun-
cil and spoke against the permit. Mrs. Eisenberg stated she felt
people could socialize and raise money without serving liquor. Mrs.
Eisenberg asked how she could change the statutes to disallow ser-
ving liquor on school grounds.
Councilman Smith stated she would have to act through
the state legislature.
COUNCILMAN HARPER MOVED TO CLOSE THE PUBLIC HEARING.
Councilman Clayton seconded the motion. Upon a call of the roll,
the vote resulted as follows:
Ayes:
Nays:
Council Members Williams, Giseburt, Smith,
Harper, Clayton, Mann, Taylor.
None.
The Mayor declared the motion carried.
COUNCILMAN MANN MOVED TO APPROVE THE SPECIAL EVENTS PER-
MIT TO THE VOLUNTEER FIREMEN DEPARTMENT FOR THE ANNUAL FIREMEN'S
BALL ON SEPTEMBER 22, 1979 FROM 8:30 P.H. TO SEPTEMBER 23, 1979,
1:00 A.H. Councilman Giseburt seconded the motion. Upon a call
of the roll, the vote resulted as follows:
Ayes: Council Members Williams, Giseburt, Smith,
Harper, Clayton, Mann, Taylor.
Nays: None.
The Mayor declared the motion carried.
* * * * * *
Mayor Taylor declared a recess at 8:55 p.m. The Council
reconvened at 9:15 p.m. Mayor Taylor asked for roll call. Upon
a call of the roll, the following were present:
September 17, 1979
Page 9
Council Members Williams, Giseburt, Smith, Harper,
Clayton, Mann, Taylor.
Absent: None.
The Mayor declared a quorum present.
* * * * *
COUNCILMAN GISEBURT MOVED TO OPEN THE PUBLIC HEARING
ON REVENUE SHARING FUNDS FOR 1980. Councilman Mann seconded the
motion. Upon a call of the roll, the vote resulted as follows:
Ayes:
Nays:
Council Members Williams, Giseburt, Smith,
Harper, Clayton, Mann, Taylor.
None.
The Mayor declared the motion carried.
City Manager Mccown stated the City will receive $750,000
from the federal government in 1980 in revenue sharing funds. Mr.
Mccown stated the funds are put in the public improvement fund and
not used for daily expenses of the City. Mr. Mccown also stated
this was the first of two hearings that are held on revenue sharing
funds. The second one will be when the hearing on the 1980 budget
is scheduled.
Mayor Taylor asked if anyone .in the audience wished to
speak on proposed uses for 1980 revenue sharing funds.
Maurice Merlin, 3688 South Sherman, appeared before Coun-
cil. Mr. Merlin suggested the funds be used to build a swimning
pool oriented towards children.
Mayor Taylor asked if anyone wanted to speak against
using the funds. No one responded.
COUNCILMAN MANN MOVED TO CLOSE THE PUBLIC HEARING. Coun-
cilman Clayton seconded the motion. Upon a call of the roll, the
vote resulted as follows:
Ayes:
Nays:
Council Members Williams, Giseburt, Smith,
Harper, Clayton, Mann, Taylor.
None.
The Mayor declared the motion carried.
September 17, 1979
Page 10
Mayor Taylor stated the revenue sharing program expires
in 1980 and aaked that people contact their congressmen and en-
courage them to continue the program. Mayor Taylor stated the
funds have become an important source to the City's revenue.
Councilman Smith stated the program is the least ex-
pensive profram to operate by the federal government and hoped
that it cou d continue.
* * * * * *
"Co111111nications -No Action Reconmended" on the agenda
were received:
(a) Minutes of the Planning and Zoning CoDlllission
meeting of July 17, 1979.
(b) Minutes of the Housing Authority meeting of
July 25, 1979.
(c) Minutes of the Public Library Board meeting
of August 14, 1979.
(d) Municipal Court Activity Report for the month
of August, 1979.
* * * * * *
There were no "Comnunicationa -Action Reconmended" on
the agenda.
ORDINANCE NO.
SERIES OF 1979
* * * * * *
BY AUTHORITY
A BILL FOR
COUNCIL BILL NO. 41
INTRODUCED BY
COUNCILMAN WILLIAMS
AN ORDINANCE AMENDING CHAPTER 4, TITLE I, OF THE '69 E.M.C. BY
ADDING A NEW SECTION AUTHORIZING SMOKING IN GENERAL ASSEMBLY
ROOMS.
COUNCILMAN WILLIAMS MOVED TO PASS COUNCIL BILL NO. 41,
SERIES OF 1979, ON FIRST READING. Councilman Giseburt seconded
the motion.
September 17, 1979
Page 11
Council discussed the bill extensively debating the pros
and cons of allowing smoking in general meeting places.
Upon a call of the roll, the vote resulted as follows:
Ayes: Council Members Williams, Giseburt.
Nays: Council Members Smith, Harper, Clayton,
Mann, Taylor.
The Mayor declared the motion defeated.
Myrtle Jones, 5020 South Washington, appeared before
Council and asked what the penalty would be for those people
who smoke during these meetings.
City Attorney Berardini stated the person would be
asked to extinguish the cigarette or asked to leave the pre-
mises. If the person continued to smoke the police would pro-
bably be called in to remove the person on a nuisance charge.
Isabella Knight, 3021 South Lincoln, appeared before
Council and stated she felt people would respect the order for
no smoking.
RESOLUTION . NO. 36
SERIES OF 1979
* * * * * *
A RESOLUTION PROVIDING FOR COST OF LIVING WAGE ALLOWANCE FOR THE
CITY MANAGER, CITY ATTORNEY, AND MUNICIPAL COURT JUDGE COMMENCING
JULY 1, 1979 FOR THE REMAINDER OF THE CALENDAR YEAR 1979.
COUNCILMAN WILILAMS K>VED TO PASS RESOLUTION NO. 36,
SERIES OF 1979, AND THAT THE FOLLOWING ANNUAL SALARIES BE ES-
TABLISHED:
CITY MANAGER
CITY ATTORNEY
MURICIPAL JUDGE
Councilman Harper seconded the motion.
$ 36,920
34,719
30,602
Mayor Taylor atated the City Manager had asked the Coun-
cil to consider the leaaer percentage because he had received a
higher increase laat year and that the 31. was approximately what
he had issued to his department heads.
September 17, 1979
Page 12
Council diacuaaed the resolution and proposed increases
at length.
COUNCILMAN CLAYTON K>VED TO AMEND THE MOTION AND THAT THE
INCREASES FOR THE CITY MANAGER, CITY ATrORNEY AND MUNICIPAL JUDGE
EFFECTIVE JULY 1, 1979, BE AT THE THREE PERCENT LEVEL AND DELETE
THE PHRASE "COST OF LIVING" FROM THE RESOLUTION. Councilman Smith
seconded the motion.
Council discussed the amendment at length and whether or
or not the increases could be defined as negotiable items, or cost
of living wage adjustments.
Upon a call of the roll, the vote resulted as follows:
Ayes:
Nays:
Council Members Smith, Harper, Clayton.
Council Members Williams, Giseburt, Mann,
Taylor.
The Mayor declared the motion defeated.
Upon a call of the roll, the vote on original motion re-
sulted aa follows:
Ayes:
Nays:
Council Members Williams, Smith, Harper,
Clayton, Taylor.
Council Members Giseburt, Mann.
The Mayor declared the motion carried.
* * * * * *
COUNCILMAN MANN K>VED TO ACCEPT AND AUTHORIZE THE MAYOR
TO SIGN THE PROCLAMATION DECLARING SEPTEMBER 22, 1979, AS HUNTING
AND FISHING DAY. Councilman Harper seconded the motion. Upon a
call of the roll, the vote resulted as follows:
Ayes:
Nays:
Council Members Williams, Giseburt, Smith,
Harper, Clayton, Mann, Taylor.
None.
The Mayor declared the motion carried.
* * * * * *
City Attorney Berardini presented a report with reference
to turning left across solid double yellow traffic lines requested
September 17, 1979
Page 13
by Councilman Smith. Mr. Berardini stated the report was prepared
by the Traffic Engineer Joe Plizga.
Councilman Smith noted the recomnendation in the report
that it would not be expedient to pass an ordinance prohibiting left
turns across the double, yellow, but to investigate the specific
locations where left turns are causing problems and either make
roadway alignment changes, i.e., installation of left turn bays
and removal of parking or the installation of a physical median
barrier. Councilman Smith asked that the reco11111endation be pur-
sued to look aa specific locations where they are causing pro-
blems and to make a comparison about the islands that have been
put out on the south portion of Broadway and that would eventu-
ally be put in the northern area of Broadway and alao to include
in the traffic study a look at the installation of left turn baya
and also what is happening in regard to making turna into Ralph
Schomp and other businesses along Broadway.
Mayor Taylor also requested information on right turns
on a red light.
City Attorney Berardini stated those requests are pe-
culiarly adapted to the Department of Public Works and Traffic
Engineer and their statistical reports could give Council some
insight as to information they are requesting. If the reporting
material is such that Council would want a c&ange in the ordinance,
he would prepare the ordinance change.
* * * * * *
City Manager Mccown transmitted the proposed 1980 bud-
get and discussed the basic changes that were made compared to
laat year's budget. The changes include breaking down expendi-
ture accounts where there was significant change and also in-
cluded are the approved supplemental requests. Mr. Mccown stated
the total recomnended budget for 1980 is $20,610,166 as compared .
to $25,533,170 for 1979. The decrease is primarily due to com-
letion of some of the capital improvements in 1979.
COUNCILMAN MAHR K>VED TO RECEIVE THE 1980 PROPOSED
BUDGET AND SET A PUBLIC HEARING ON THE BUDGET ON OCTOBER 1,
1979 AT 7:30 P.M. Councilman Smith seconded the motion. Upon
a call of the roll, the vote resulted as foll.owe:
Ayea:
Nays:
Council Members Williams, Giseburt, Smith,
Harper, Clayton, Mann, Taylor.
None.
September 17, 1979
Page 14
'11le Mayor declared the motion carried.
RESOLUTION NO. 37
SERIES OF 1979
* * * * * *
A RESOLUTION AMENDING THE 1979 GENERAL FUND BUDGET.
COUNCILMAN WILLIAMS MOVED TO PASS RESOLUTION NO. 37,
SERIES OF 1979. Councilman Smith seconded the motion. Upon
a call of the roll, the vote resulted as follows:
Ayes:
Nays:
Council Members Williams, Giseburt, Smith,
Harper, Clayton, Mann, Taylor.
None.
The Mayor declared the motion carried.
Mayor Taylor stated he would present the check for
$15,000 to help the Englewood High School Band defray costs to
the Rose Bowl Parade in Pasadena, California. Mayor Taylor
stated the presentation would take place at 11:30 a.m. on Wed-
nesday, September 19, 1979, and encouraged all council members
to be in attendance.
* * * * * *
City Manager Mccown transmitted the minutes from the
last Englewood Downtown Development Authority.
* * * * * *
City Manager Mccown transmitted a copy of the Eco-Cycle's
projected budget for the 1979-80 fiscal year.
* * * * * *
Mayor Taylor asked if the City was going to furnish bags
for leaves this year. City Manager McCown stated he would discuss
the project with the Director of Public Works and report back.
* * * * * *
Councilman Giseburt stated at the last Council meeting
decision to change money managers. Since that time, there has
been investigation into the charges made by Mr. Mason and the
September 17, 1979
Page 15
questions have been answered to the satisfaction of the pension
boards and Council. Mr. Giaeburt stated Council should have a
letter in their possession from R. M. Leary & Co., the new money
manager and requested that the letter be placed into the record:
Mr. Jamee L. Taylor, Mayor
City of Englewood
3400 South Elati Street
Englewood, Colorado 80110
Dear Mayor Taylor:
"September 14, 1979
We believe that you and the City Council would be
interested in having the exact liquidating costs of
the Securities sold in the three Englewood Pension
Funds aa well as the acquisition costs of the Mutual
Funds that were purchased. You can then equate these
figures with the estimates in a letter of August 29,
1979, from Mason & Co., and his reiteration of these
estimates at your Council meeting of September 4, 1979.
All of the Connon Stocke were sold through Bache Halsey
Stuart Shields, Inc. at a negotiated discount of 311
which totalled out at $12,784.00. All of the Bonds were
sent out for the highest bid on a NET basis so there
were NO co111niaaiona on the Bonds. The firms invited
to purchase these Bonda at the highest bid prices were
Merrill Lynch, Bache and E. F. Hutton Co., Inc. I have
a copy of the bide from each of the above firms on each
Bond sold for the perusal of anyone further interested.
The cash equivalent funds in Federated Master Notes held
through the custodianship of the First National Bank
of Englewood were also transferred without charge --
which is normal procedure. In summation, $12,784.00
was the total liquidating coats on approximately
$4,500,000.00 representing the asset values of the
three Pension funds.
The acquisition coat of the Mutual Fund shares is li
and that is spelled out distinctly in the Franklin .,
Funds prospectus. These acquisition costs schedules
are filed with the Securities Exchange Co11111ission and
there is nothing artibrary or negotiable about them.
This is why it is hard to understand why a higher
figure could have been previously projected. These
costs have approximated $45,000.00 and the acquisition
costs of 11 maximum will apply to all future contri-
butions. However, when any conversions are made between
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September 17, 1979
Page 16
a Comnon Stock fund, Bond fund or money market fund --
regardless of the amount of money involved, there is
a transfer fee of $5.00 per conversion to partially
cover the cost of the paper work by the Mutual Fund.
Once the initial cost has been paid there is no com-
mission cost, not ever, for the life of the investment.
I do appreciate the unnecessary distress that the mem-
bers of the Council, Pension Boards and Staff have ex-
perienced and certainly sympathize with them. Hope-
fully, this letter can go on record to quell this por-
tion of the confusion. Please feel free to contact me
imnediately if any further question should arise.
Thanking you for your indulgence, patience and support,
I remain,
Sincerely,
/s/ R. M. Leary"
* * * * * *
Councilman Clayton requested a list of the non-approved
items excluded from the proposed 1980 budget.
Councilman Smith stated the list is irrelevant to the
budget review. The City Manager used discretion in cutting those
items he felt were unnecessary and the decision to include certain
items and exclude other items should be reliable.
COUNCILMAN CLAYTON MOVED THAT THE STAFF FURNISH COUNCIL
WITH A LIST OF ITEMS SERIOUSLY CONSIDERED BUT NOT PUT IN THE PRO-
POSED BUDGET. Councilman Giseburt seconded the motion. Upon a
call of the roll, the vote resulted as follows:
Ayes: Council Members Giseburt, Clayton., Mann.
Nays: Council Members Williams, Smith, Harper,
Taylor.
The Mayor declared the motion defeated.
* * * * * *
COUNCILMAN CLAYTON K>VED THAT THE STAFF FURNISH COUNCIL
WITH PROJECTIONS ON HOW THE GOLF COURSE CAN BE PUT ON OR CLOSE TO
A SELF-PAYING BUDGET. Motion died for lack of a second.
September 17, 1979
Page 17
Councilman Smith stated the information was in the pro-
posed 1980 budget.
City Manager Mccown stated he could make a list of sup-
plemental requests and detail how the itema were prioritized.
* * * * * *
COUNCILMAN WILLIAMS MOVED TO ADJOURN THE MEETING.
Mayor Taylor adjourned the meeting at 10:30 p.m. without
a vote.