PROCEEDINGS OF THE CITY COUNCIL OF SALT LAKE CITY, UTAH
THURSDAY, NOVEMBER 18, 1982
THE CITY COUNCIL OF SALT LAKE CITY, UTAH, MET AS A COMMITTEE OF THE WHOLE ON THURSDAY, NOVEMBER 18, 1982, AT 5:00 P.M. IN ROOM 211 CITY AND COUNTY BUILDING.
ON ROLL CALL THE FOLLOWING COUNCIL MEMBERS WERE PRESENT: RONALD J. WHITEHEAD ALICE SHEARER GRANT MABEY IONE M. DAVIS SYDNEY R. FONNESBECK EDWARD W. PARKER PALMER DEPAULIS.
Council Chairperson Sydney R. Fonnesbeck presided at and conducted this meeting.
Lance Bateman, Controller, Cheryl Cook, Treasurer, Dick Christiansen, Russ Williams, Alan Bridge, Personnel Management Officer and Leigh von der Esch, Executive Director to the Council were also present at this meeting.
COUNCIL BUSINESS
#1. Lance Bateman briefed the Council on the possible refinancing of water bonds due to a drop in interest rates. By refinancing the bonds and combining $17,000,000 issues and making one issue at lower interest rates we would have more money for construction. Refund would be on $17,000,000 issue. Cheryl Cook indicated the City would only refinance if the market was to our advantage. Since the market is so erratic at this time it is difficult to say at this time if we will in fact refinance. Nevertheless, the City wants to be prepared if the interest rates are to our advantage.
Ms. Cook indicated that the refunding will give us more flexibility on the bond sales. Grant Mabey asked how much savings potential there was for refinancing. Ms. Cook indicated a possible $600,000 savings in interest. Councilmember Whitehead asked what the criteria was for deciding to sell the bonds. Ms. Cook said that the system is complicated but it is based on need for money, discount rates, etc. Councilmember DePaulis asked what fees would be paid to refinance. Dick Christiansen indicated the fees would be 3%-4% of the bond issue but that $600,000 savings was a bottom line figure.
Councilmember Mabey moved and Councilmember Parker seconded to accept the proposal and direct the city to refinance if it is in the best interest of the city, which motion carried, all members voting aye.
(Q 82-16)
#2. Russ Williams presented the Executive Compensation Study. Mr. Williams explained what cities he surveyed and how he compiled data. Councilmember Shearer asked what backup data was available to substantiate that the city was lower than the county and state on salaries. Mr. Williams stated that it was difficult to find jobs that were similar. Councilmember Shearer asked if there was backup on the mean and median salaries. Mr. Williams said there was backup material available. Mr. Williams discussed the report and how ranges were established. Previously there were six levels on the executive salary plan and they were changing to eight levels. Councilmember Parker asked if any positions would be eliminated after this study. Mr. Bridge said no positions would be eliminated unless Court Support was turned over to the State. Councilmember Parker asked if any employees would receive a reduction. Mr. Bridge said that decision would be made by the Mayor.
Councilmember DePaulis asked about salary ranges and whether they would be moving the regular employee increases. Mr. Williams said the ranges would not move. Mr. Bridge said the Mayor is not requesting an agenda date for action on the executive salary plan at this time.
(O 82-31)
#3. The Council discussed the proposed Council salary increases. Councilmember Fonnesbeck expressed concern that some action should be taken so the matter would be depoliticized and could be addressed on a timely basis. General discussion followed with the possibility of having a committee look into the salary issue, or putting it on the agenda with different scenarios. Staff will prepare different scenarios for the consideration of Council including increasing base, fringes, etc. This report will be ready for the Council by December 1.
(B 82-9)
General discussion was held on miscellaneous Council business items.
This meeting was adjourned at 7:30 p.m.