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JUNE 4, 2003

ATTENDANCE: Bruce Kimmel, Chairman; Kenneth Baker;
Douglas Sutton; Christopher Perone (8:00 p.m.)

STAFF: Jack Miller, Director of Finance Department; Lisa Biagiarelli, Tax
Collector; Frederic J. Gilden, Comptroller

OTHERS: Mayor Alex Knopp; Dr. Salvatore Corda, Superintendent of Schools, Stuart Opdahl, Facilities Director, Board of Education; Andrew Garfunkel, Town Clerk; Sheryl Watkins-Dunleavy, New Vision Systems

The Chairman called the meeting to order at 7:50 p.m. He noted that there was not a quorum present at this time.

CLAIMS COMMITTEE: RECEIVE THE MONTHLY CLAIMS REPORT; REVIEW AND APPROVE CLAIMS AS REQUIRED FOR CLAIMS REPORT DATED JUNE 4, 2003

The Chairman stated that there were no claims over $5,000.

** CHAIRMAN KIMMEL MOVED TO PASS ON TO COMMON COUNCIL THE CLAIMS COMMITTEE REPORT.

DELINQUENT TAX REPORT: RECEIVE REPORT AND DISCUSS

** CHAIRMAN KIMMEL MOVED TO PASS ON TO COMMON COUNCIL THE DELINQUENT TAX REPORT.

Mr. Miller reported that as of the end of May, the Tax Collector had collected 98.17% of the adjusted current tax levy, which was nearly $172.5 Million. He commented that this was incredible.

RESOLUTION APPROPRIATING $1,500,000 FOR THE ACQUISITION OF TEXTBOOKS BY THE BOARD OF EDUCATION AND AUTHORIZING THE ISSUANCE OF $1,500,000 BONDS OF THE CITY TO MEET SAID APPROPRIATION AND PENDING THE ISSUANCE THEREOF THE MAKING OF TEMPORARY BORROWINGS FOR SUCH PURPOSE.

Mr. Opdahl stated that there was a dire need in the district to develop a process for the revision and addition of curriculum. He reported that a five-year plan had been developed for all curriculum areas and that for the 2002-2003 school year the focus will be on Language, Arts, Mathematics, Music, Business and Science. He continued that the process for curriculum development is three-fold: to examine the curriculum that exists to see that it conforms with State standards and the Board of Education; to implement the curriculum; and to evaluate it, which will then lead to the next revision. He continued it is now at the point where if the curriculum is implemented, they will need to purchase a selection of textbooks. He stated he had looked into a lease/purchase financing of $1.5 Million for the textbooks however, Mr. Miller had recommended a short term 5-year bond that will provide better benefits to the City. Mr. Opdahl concluded that the need for funds to purchase textbooks was crucial.

Mr. Miller stated the benefits in a short term 5-year bond would be a saving of $46,000 in interest, and that instead of a lease/purchase, the books will belong to the City. He also noted that the debt would be reflected as part of the Board of Education budget as an operating expenditure. He continued that other benefits were that the Board would not have to use the $120,000 they planned to use in the current year and would not have to make a principal payment in FY2004 allowing them to reduce their budget by about $500,000.

Mayor Knopp stated that he regards the textbook initiative as one of the most important initiatives in his administration and was also a key educational reform. He continued that it will alleviate the need for the Board to utilize $1.5M for this purpose and it will help meet the budget requirements. Mayor Knopp stated that this would put new textbooks in the hands of children as the current textbooks are pathetically old. He commented that this was a win financially and win educationally and it will create a better relationship between the Board and the City.

Chairman Kimmel stated that it was a great idea. He commented that by making it part of the capital program it could be earmarked for textbooks and nothing else. He also noted that he was very pleased to see that social studies was going to be addressed at the elementary level.

** CHAIRMAN KIMMEL MOVED TO PASS ON TO COMMON COUNCIL THE RESOLUTION APPROPRIATING $1,500,000 FOR THE ACQUISITION OF TEXTBOOKS BY THE BOARD OF EDUCATION AND AUTHORIZING THE ISSUANCE OF $1,500,000 BONDS OF THE CITY TO MEET SAID APPROPRIATION AND PENDING THE ISSUANCE THEREOF THE MAKING OF TEMPORARY BORROWINGS FOR SUCH PURPOSE.

Mr. Perone arrived at 8:00 p.m.

AUTHORIZE THE MAYOR, ALEX A. KNOPP, TO SIGN A CONTRACT WITH NEW VISION FOR A RECORD MANAGEMENT SYSTEM FOR TOWN CLERK'S OFFICE

Mr. Garfunkel stated that currently the documents coming into the Town Clerk's office are handled by the staff extensively and the process is very time consuming. He stated that the work involves recording, handstamping, indexing and microfilming. He commented that the documents often do not find their way back to the owners until eight months later. He continued that with the new system proposed by New Vision Systems, based in Stamford, the document will be recorded and partially indexed at the time of recording and a document number and the book and page will be issued by the computer. The document will then be scanned and proofed, then indexed completely. He continued that at the end of the each day, the documents that were scanned can be printed onsite and placed into books and the documents should be available to be returned within a week.

Mr. Garfunkel reported that in the past year the Town Clerk's office recorded 27,513 documents at a cost of $3.85 each and the new proposal from New Vision would be $3.68 each document, saving the City $51,000 over the course of the 5 year lease. He recommended that New Vision Systems be awarded a 5 year contract for the lease of their record management system in the amount of $195,148,800 and stated that New Vision Systems proposal is both a time and money saver.

Mr. Garfunkel reported that eight firms submitted proposals and it was narrowed down to three. New Vision Systems came in as the lowest bidder but also offered the technology he was looking for and the capability of conforming to what he wanted to be done. He also noted that four of the bidders were just software companies and did not offer service or have track records.

Ms. Sheryl Watkins-Dunleavy, representative of New Vision Systems, reported that the system has proven itself to city and county governments from Miam-Dade County Florida to Stamford, where she noted that the return time for documents went from nine months to one week.

Mayor Knopp stated that by making this huge technology jump the City will end up with a Town's Clerk office as technologically advanced as any town or office in the State and it will allow the City significantly improved services.

** CHAIRMAN KIMMEL MOVED TO AUTHORIZE MAYOR, ALEX A. KNOPP, TO SIGN A CONTRACT WITH NEW VISION FOR A RECORD MANAGEMENT SYSTEM FOR THE TOWN CLERK'S OFFICE.
** MOTION CARRIED UNANIMOUSLY.

APPROVE THE MINUTES OF THE FOLLOWING FINANCE
COMMITTEE MEETING:

MAY 7, 2003

** CHAIRMAN KIMMEL MOVED TO APPROVE THE MINUTES.
** MOTION CARRIED THREE IN FAVOR; ONE ABSTENTION
(MR. BAKER).

RECEIVE BOARD OF ESTIMATE AND TAXATION SPECIAL APPROPRIATIONS FROM JUNE 2, 2003 MEETING

Mr. Miller stated that the first three appropriations were withdrawn because the Fire Department's overtime has greatly declined.

$30,000 from Contingency to the Department of Public Works to pay for the replacement of a utility vehicle.

This item was discussed and Chairman Kimmel stated it would be sent to Common Council.

$82,000 from Increased Estimated Revenues to the Town Clerk's Office to pay for indexing of Land Records.

Mr. Miller reported that this special appropriation was for additional work needed for indexing of Land Records.

This item was discussed and Chairman Kimmel stated it would be sent to Common Council.

$10,000 from Contingency to the Historical Commission to pay for an expected shortfall in the Norwalk Museum's Rent/Electric/CAM charges.

Mr. Miller stated that this special appropriation was intended to pay for an unexpected shortfall in the Norwalk Museum's rent, electric and CAM charges.

This item was discussed and Chairman Kimmel stated it would be sent to Common Council.

RESOLUTION WITH RESPECT TO THE AUTHORIZATION, ISSUANCE AND SALE OF NOT EXCEEDING $37,000,000 CITY OF NORWALK GENERAL OBLIGATION REFUNDING BONDS, SERIES 2003.

Mr. Miller stated that if market conditions change and in the event that any of the outstanding bonds are candidates for refunding, this resolution would make them be able to do a transaction quickly in order to achieve the most cost savings.

** CHAIRMAN KIMMEL MOVED TO PASS ON TO COMMON COUNCIL THE RESOLUTION WITH RESPECT TO THE AUTHORIZATION, ISSUANCE AND SALE OF NOT EXCEEDING $37,000,000 CITY OF NORWALK GENERAL OBLIGATION REFUNDING BONDS, SERIES 2003.
** MOTION CARRIED UNANIMOUSLY.

APPROVE RESOLUTION AUTHORIZING THE ISSUANCE OF $78,127,414 GENERAL OBLIGATION BONDS TO MEET THE APPROPRIATIONS IN THE 2003-2004 CAPITAL BUDGET AND THE MAKING OF TEMPORARY BORROWINGS IN ANTICIPATION OF THE PROCEEDS THEREOF.

Mr. Miller said that this was pro forma action authorizing bonds for approved budgets in the 2003-2004 capital budget.

** CHAIRMAN KIMMEL MOVED TO PASS ON TO COMMON COUNCIL THE RESOLUTION AUTHORIZING THE ISSUANCE OF $78,127,414 GENERAL OBLIGATION BONDS TO MEET THE APPROPRIATIONS IN THE 2003-2004 CAPITAL BUDGET AND THE MAKING OF TEMPORARY BORROWINGS IN ANTICIPATION OF THE PROCEEDS THEREOF.
** MOTION PASSED UNANIMOUSLY.

RESOLUTION WITH RESPECT TO THE AUTHORIZATION, ISSUANCE AND SALE OF NOT EXCEEDING $41,000,000 CITY OF NORWALK GENERAL OBLIGATION BONDS, SERIES 2003.

Mr. Miller stated that the next bond issue date was June 25, 2003.

** CHAIRMAN KIMMEL MOVED TO PASS ON TO COMMON COUNCIL
THE RESOLUTION WITH RESPECT TO THE AUTHORIZATION, ISSUANCE AND SALE OF NOT EXCEEDING $41,000,000 CITY OF NORWALK GENERAL OBLIGATION BONDS, SERIES 2003.
** MOTION PASSED UNANIMOUSLY.

TABLED IN MAY 7, 2003 FINANCE COMMITTEE MEETING:

APPROVE RESOLUTION APPROPRIATING $200,000.00 FOR MARITIME TICKETING OFFICE PROJECT AND AUTHORIZING THE ISSUANCE OF $200,000.00 BONDS FOR THE CITY TO MEET SAID APPROPRIATION AND PENDING ISSUANCE THEREOF THE MAKING OF TEMPORARY BORROWINGS FOR SUCH PURPOSE.

The Chairman stated that at the last meeting the Committee requested additional information on the costs to construct a ticketing area within the new Maritime Parking Garage.

Mr. Miller reported that the original request was for an appropriation of $200,000, however he was asking for that amount to be amended to $250,000. He stated that the additional $50,000 will allow for the furnishing of the ticket area which will include computers, printers, furniture, network wiring, etc. He then reviewed the breakdown of all the costs.

Mayor Knopp stated that it was thought that the monies needed would be paid directly out of the Maritime Aquarium Operating Revenues, however it now appears that the Aquarium will not have monies available from operating revenues because of State cutbacks. It was projected that the Aquarium would receive $840,000 of Tourist Tax monies from the State, but due to State budget cuts, they will now receive a maximum of $400,000.

Mayor Knopp proposed that the $250,000 request would be get added onto the existing debt that the Maritime Aquarium currently owes the City.

Mr. Miller stated the City will have to make up the loss out of capital fund surpluses.

Chairman Kimmel stated that he now had a clearer view of the issue.

** CHAIRMAN KIMMEL MOVED TO REMOVE THE ORIGINAL

RESOLUTION FOR THE MARITIME TICKETING OFFICE FROM THE TABLE.

** CHAIRMAN KIMMEL MOVED TO SUBSTITUTE THE NEW RESOLUTION, SECTION 1 AND 2, AND TO ADD UNDER SECTION 1 THE WORDS " THE SUM OF $250,000 IS APPROPRIATED FOR THE MARITIME AQUARIUM TICKETING CENTER AND THAT SUCH SUM IS ADDED TO THEIR DEBT TO THE CITY OF NORWALK.

** CHAIRMAN KIMMEL MOVED TO AMEND THE RESOLUTION APPROPRIATING $250,000 FOR THE MARITIME AQUARIUM TICKETING CENTER AND THAT SUCH SUM IS ADDED TO THE MARITIME ACQUARIUM DEBT TO THE CITY AND THE RESOLUTION SHALL TAKE EFFECT UPON APPROVAL BY THE COMMON COUNCIL.
** MOTION PASSED UNANIMOUSLY.

** CHAIRMAN KIMMEL MOVED TO ADJOURN.
** MOTION CARRIED UNANIMOUSLY.

The meeting was adjourned at 9:00 p.m.

Respectfully submitted,

Donna DeVito
Telesco Secretarial Services