HomeMy WebLinkAbout09/16/1996 BAKERSFIELD
.,.~. /~ ~~ Patricia J. DeMond, Chair
Ala~'~nl~.y, Ci~'Ma ager Irma Carson
Staff: Dolores Teub~er Kevin McDermott
AGENDA SUMMARY REPORT
BUDGET AND FINANCE COMMITTEE
Monday, September 16, 1996
12:15 p.m.
City Manager's Conference Room
1. ROLL CALL
Call to Order at 12:25 p.m.
Present: Councilmembers: Patricia J. DeMond, Chair; Irma Carson; and
. Kevin McDermott
2. APPROVAL OF THE AUGUST 12, 1996 MINUTES
Approved as submitted.
3. PRESENTATIONS
None
4. PUBLIC STATEMENTS
None
5. DEFERRED BUSINESS
A. LOCAL PREFERENCE BID POLICY
Staff reiterated the current City policy on local bid preference. The City Attorney
explained that our Charter does not allow for an expanded local preference policy.
The concern is that it would ultimately reduce competition and increase the cost of
certain services provided by local vendors. The City already awards the majority of
APPROV]~) AS SUBI~ITTIID OCTOBIIR 21, 1996 FILE COPY
AGENDA SUMMARY REPORT
BUDGET AND FINANCE COMMITTEE
Monday, September 16, 1996
Page -2-
non-construction and non-RFP bids to local vendors and gives local preference
points in the RFP process. The Committee asked staff to continue to look for ways
to expand our local preference policy without negatively affecting the City's bid
process, and return to the Committee in three months with a progress report.
6, NEW BUSINESS
A. CITY INVESTMENT POLICY
Staff reviewed the proposed investment policy with the Committee. State guidelines
are included in the City's policy. Councilmember McDermott suggested that a cap
of no more than 30% of the City's portfolio be invested in the LAIF at any one time
be added to the policy. Exceptions would be considered on a case by case basis.
Staff will identify different investment types by definition in the policy for clarity, and
differentiation between the various investment caps required by State and local law.
The policy was approved by the Committee and will be recommended to the full
Council.
B. LEASE AGREEMENT/PURCHASE OPTION FOR BAKERSFIELD ART
FOUNDATION
The proposed lease agreement with the Bakersfield Art Foundation is for five years
with an option to buy the property for $5,000 any time during the lease period. The
long-term lease will allow the museum to commit to the Central Park location and
will remove the need for the Council to approve the lease annually. The Committee
asked that certain portions of the agreement be clarified, such as "art-related
activities," and to include a more detailed description of the size and boundaries of
the property subject to the lease/purchase. The Committee recommended
forwarding the agreement as amended to the City Council for approval.
7. ADJOURNMENT
The meeting was adjourned at 1:25 p.m.
cc: Honorable Mayor and City Council
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