Investment strategy, city hall remodel on agenda

By Mollie LaSalle
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WOODVILLE – Woodville City Council held a special called meeting Monday evening to consider three agenda items.

The first item up for discussion was to consider for approval Resolution No. 20230925, a resolution adopting an Investment Policy and Strategy of the city of Woodville and Broker List. City Administrator Mandy Risinger explained: “we have a management company, (Meeder Investment Management Group ) that advises us on our purchases. They are trying to get all their clients consistent with what the act permits and give us flexibility in our purchasing options depending on the market at the time”.

David McElwain is the contact person in the Meeder group for the city. They have clients in several cities in the state; Woodville is one of the smaller portfolios that they manage. Risinger did say that since the city has been with this group, their return on investment has increased dramatically. The city is required to review the policy annually, and 2023 marks the first time there have been changes to it in about three years. The primary changes are sending out the maximum securities and the length of securities that can be purchased by the city. When all was said and done, council approved the resolution.

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The next item up for discussion was a consideration to accept bids for City Hall Interior restorations. Risinger explained, “we know what we have to repair. Do we want the building to be consistent throughout, or did we just want to repair the damaged portion? We had six companies do a walk through, and three submitted bids. The lowest bidder didn’t submit a complete bid and did not have good references” The second lowest bidder was Timberline Constuctors, who had done the original remodel of the building in 2001.

After a lengthy discussion back and forth, council opted to go with Timberline Constructors to do the remodel project at city hall.

The last item discussed was the purchase of a transport vehicle (hauling truck) for the city.

Risinger said, “we had recently sent out a notice for bids on a new garbage truck, and now we are needing another haul truck”. The city has two trucks currently in use, one is still operational, the other one is needing to be replaced. Council approved the authorization to solicit bids for another haul truck for the sanitation department.