Minutes 01/24/1995 - Laserfiche WebLink

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5 January 24,1995 "The Comprehensive Annual Financial Report (CAFR) of the City of Portsmouth for the fiscal year ended June 30, 1994, is being presented in accordance with the provisions of the City Code. The report was prepared by the Department of Finance in accordance with generally accepted accounting principles, In accordance with Section 12-64 of the City Code, the Quarterly Financial Report for~the Period ended December 31, 1994 is also submitted. These reports will be distributed prior to your January 24, 1995 meeting. I recommend your approval of a motion to receive these reports as information and to refer them to the Municipal Finance Commission." Motion by Mr. Pitts, and seconded bY Mr. Martini to receive the Comprehensive Annual Financial Report (CAFR) information, and was adopted by the following vote: as Ayes: Clemons, Griffin, Hawks, Martin, Pitts, Robinett, Webb Nays: None - NEW BUSINESS - 95-47 Boards and Commissions There were no appointments. 95-48 - Items Submitted by Council Members * Motion by Mr. Pitts, and seconded by Mr. Clemons, to request the City Manager to investigate the private, family-operated 45% gaming enterprise, and find Out who they are and report their financials, including the local investment group that recruited them, and report to City Council their natUre of commitment to the partnership, both financially and otherwlSelas well as their justification of 10% ownership, Substitute m~tiOn by Mr, Hawks, and seconded bY Mr. RObinett, to have the City Manager to assemble the documentation as to the financial relationship of the private investors in the Eldorado-Primadona partnerShip~ and to contact all, proposing groups to seek their permission .to publicly release their proposals, in total, eXcluding private financial Statements, and was adopted by the following vote: Ayes: Griffin,. Hawks, Martin, Pitts, Robinett, Webb Nays: Clemons * Coun~i~t~an-Robinett requested~ t~ oP~nio~.~b~,prov~ded to Council of the City's liability to individuals and/or companies for the release of documentation that is specifically regarded as confidential. * Councilman Martin wants a session scheduled with legislators at Legislative Day. * COUncilman Hawks provided a report on a meeting with the Flag Association. * Motion by Mr. Hawks, and seconded by Mr. Robinett, to be provided updated information on the move of Portsmouth Redevelopment and Housing Authority to another location, and was adopted by a vote of 6-1(Griffin). 95'50 - Continued Non Agenda SpeakerS. 1. Rev. Rudolph Perry, 513 Spectator Street, spoke in support of Councilman Pitts.