CC Min 1995-04-24 - Laserfiche WebLink

Browse Search

Committee and the Committee will make the decision to recommend that process or not to the full Council. Councilman Sanfilipo stated he would support a plan to assume debt to finance these projects ONLY if there was a clear benefit to the City. Councilwoman Steinfeld voiced her opposition to this proposal stating there were too many unanswered questions to approve this course of action. In response to Councilwoman Steinfeld's question asking at what point would there be citizen input, City Manager Everett advised there would be several public meetings before the Council made its final decision. Councilwomen La Berge and Buchan commended Councilman Sanfilipo for suggesting that staff pursue all options that would benefit the City and save City money. Councilwoman Buchan, Chairperson of the Council Investment Committee, asked that all the information that staff received regarding the possible bond issue be forwarded to the entire Council, including all the pros and cons of the issue. MEMO 4/26/95 Vice Mayor Hartnett advised that the proposed resolution would do the following: Begin to answer questions raised by the Council and staff, similar to an EIR process, including facts and comments; Provide the information needed to make the best decisions for the citizens who elected the Council to provide leadership; and keep all or some of the money set aside for the new City Hall in the bank drawing interest. Vice Mayor Hartnett called upon Mr. Joe Steinfeld who had submitted a Speaker's Card. Joe Steinfeld, 850 Main Street, Redwood City, spoke in opposition to issuing bonds to pay for capital improvement projects, stating it would add too much additional debt, redistributes the citizen's wealth, and the proposal was a major scam. Vice Mayor Hartnett advised that it was important not to debate each point of the proposal or speaker's comments at this juncture, and silence should not be interpreted as acquiescence. Vice Mayor Hartnett advised that if the resolution was adopted, the research showed a benefit to the City, and the Council Investment Committee recommended a course of action, the Council would then have a full opportunity to discuss the matter further in open public meetings with public input. TITLE READ. MIS: BUCHAN/LA BERGE RESOLUTION NO. 12454 DECLARING INTENTION TO REIMBURSE THE CITY OF REDWOOD CITY FROM THE PROCEEDS OF ONE OR MORE TAX EXEMPT FINANCINGS FOR CERTAIN EXPENDITURES MADE OR TO BE MADE IN CONNECTION WITH THE ACQUISITION CONSTRUCTION AND EQUIPPING OF CERTAIN CAPITAL IMPROVEMENTS Regular Meeting Minutes MINUTE BOOK NO. 53 April 24, 1995 Page No.1 53 Page 10 --... '.--'-."..'