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<br />Summary Minutes: Special City Commission Meeting September 22, 2004 <br />Second Budget Hearing <br /> <br />Sunny Isles Beach. Florida <br /> <br />City Manager Russo did a presentation on the Capital Improvements being done within the <br />City. He noted that when we do the new streetlights on 174th Street that the landscaping will <br />be disturbed, therefore we will not replace flowers in the islands that are right in the middle <br />where a streetlight will be installed because we will be ripping them out shortly thereafter. <br /> <br />Commissioner Iglesias said that some of the people at Ocean ill are taking the inbound and <br />using it as the outbound instead of making the loop under Lehman Causeway, they are <br />cutting across on the entrance and using it as an access cutting across the Chevron gas station <br />shooting across the median opening, and he suggested that we extend that median all the way <br />back to the last Chevron and we can use it for more landscaping because someone is going to <br />get killed out there. City Manager Russo said that is covered by the median closure study <br />which is almost complete. <br /> <br />Vice Mayor Goodman asked about the emergency fund, and City Manager Russo said that is <br />the surplus fund and it is at $3.7 Million, and that it is the City's savings account in the event <br />of a disaster or a shortfall. City Manager Russo said at the appropriate time after the <br />numbers are audited and we know what the current year's fund balance is, after going <br />through an entire hurricane preparation effort and then have the actual event, there is a <br />number of items that we will be coming back to recommend that we target out of that fund <br />balance to buy for emergency disaster needs of this City. <br /> <br />Public Speakers: none <br /> <br />Commissioner Iglesias moved and Commissioner Brezin seconded a motion to approve the <br />resolution. Resolution No. 2004-721 was adopted by a voice vote of 5-0 in favor, at 6:30 <br />p.m. <br /> <br />3B. Budget Ordinance (Public Hearing) <br />An Ordinance of the City Commission of the City of Sunny Isles Beach, Florida, Adopting <br />an Operating and Capital Outlay Budget for the Fiscal Year Commencing October 1, <br />2004 through September 30, 2005, Pursuant to Florida Statutes Section 200.65 (Trim Bill) <br />Authorizing Expenditures of Funds Established by the Budget; Authorizing Encumbrances; <br />Authorizing Issuance of Checks; Providing for Grants and Gifts; Providing for Post Audit; <br />Providing for Severability and Providing for an Effective Date, <br />(First Reading/Hearing 9109/04) <br /> <br />Action: City Clerk Hines read the title, and City Manager Russo reported. Commissioner <br />Thaler asked if we have done anything on the actuary that was discussed, and City Manager <br />Russo said yes that we have already started looking into that issue in which the City entered <br />into the Florida Retirement System (FRS). He said it is a major fixed benefit retirement <br />program who's percentage payment into the system for the high risk area which is mostly in <br />public safety is substantially more then what we are contributing into the 401 which is a more <br />controlled situation, however the administrative side of it is less than what we were paying. <br />He said the concern was, based on a lot of recent publicity of other fixed benefit retirement <br />systems and their cost and having problems because of the stock market or whatever, these <br />communities had to make a significant one-time payment to keep the systems sound, and the <br /> <br />2 <br />