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Residents query mayor on radioHelms takes to the ‘airwaves*’An independent investigation by a ‘blue-ribbon commission” of a recent $670,000 loss from a borough investment in a mutual fund might be a good idea, Borough Mayor Juanita Helms said Monday, as long as she has no hand in appointing commission members.In earlier statements. Helms had emphatically resisted the idea of an independent investigation, claim ing blue-ribbon commissions have been “used in the past for political whitewashing.”But Helms was more amenable to the idea when several callers to the radio talk show “Agbaba at Large,” where Helms was a guest Monday, suggested an independent investigation by a group of citizens. She said she would not object to a citizens’ committee as long as it was an organized group and approved by the borough assembly.An in-house investigation and an inquiry by the state Division of Banking and Securities are alreadyunder way, she pointed out. “Affidavits are being taken and the state is going to review the actions of the borough,” she said.Helms said she intends to draw on experts in the community for advice before approving future investments,“Changes are going to be made in the system and checks and ba lances are going to be put in place,” Helms told one caller who asked why the borough’s financial and legal departments had approved investing $20.3 million in bond money in the mutual fund when the investment was later found to violate borough ordinances because it was not backed by collateral. Several other callers also questioned borough employees’ apparent lack of knowledge.“ I do intend to consult people that are knowledgeable about investments before we make any further investment decisions,” Helms said. “If nothing else, this has certainly taught us a lesson and we dohope to recover that money.”Show host Steve Agbaba asked Helms to comment on a June 5 editorial in the Daily News-Miner, which criticized her for not ordering an independent investigation.“Well I was disappointed in (the editorial) because my administration has been making a real effort at being open,” Helms answered. “Newspapers are known for their investigative qualities, and if there was anything that was purportedly hidden, then I would think it’s the responsibility of the newspaper to find it . . . there hasn’t been anybody beating on the door saying we’re withholding information, because we’re not.”One caller asked Helms why she had not acted more swiftly in pulling out of the investment. Helms ordered the investment canceled June 2, but the caller said she should have realized two weeks earlier that the investment was questionable by borough standards.I do intend to consult people that are knowledgeable about investments before we make any further investment decisions. If nothing else, this has certainly taught us a lesson.’'—Juanita Helmt“I would think as mayor of the borough you don’t have many more pressing items in a business day or week than the proper investment of $20 million, said the man.“I consider that you probably did well in not firing the finance director, because I consider that you are personally liable,” he continued. “I consider that you are guilty of nonfeasance, malfeasance, and misfeasance. 1 don’t think you did your job . . . I'm appalled.”MAYOR JUANITA HELMS‘‘Changes to be made”“I’m ultimately the responsible party, and I am taking that responsibility,” Helms said.Other callers supported the mayor. “I just want to say I don’t think we went wrong in voting you in as mayor,” said a man identified as “Rick.” “I don’t think people should jump to conclusions about what one bad investment means to the whole borough.”
Newspaper Details
Fairbanks Daily News Miner
Fairbanks, Alaska, US
Tue, Jun 10, 1986
Page 7
Full Page
Clipped by
Greenlipsticklesbian L.
NA, 11 Jun 2024
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