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.111 ''1 111 -1 45 the motion on the condition that the State plan lines be turned in. City Engineer Jain stated that he did not think this could be turned in by then as the State doesn't have any interest in the project until such time as Woodside Road is improved. 1001 is what the State requires or 171 on each side of Woodside Road. Motion carried* OPENING OF BID ON $750.,000 PARKING LOT BMW. Attorney Wilson stated that the bid for the first and second year carried interest rate of $19,875 more than the estimate or $18s150 more than the previous year. After 4' 60 the first two years the interest rate is $6.,750 more than the estimate and $4,9725 more than the first sale* The figure will be a little less in the next year and so on until the last year which would be $855 more than the estimate and $630-50 more than the first sale* He believes that it is the best bid that the City will be able to get. The bonds would be issued in about 30 days. er 4.42% is the amount of the average interest on this issue. He further stated that Auditor Brophy said that the City had enough money to pay for the next two or three months acquisition costs* Councilman Stout moved that they accept the bid as presented., seconded by Councilman Jones. Councilman Stout withdrew his motion and then offered RESOLUTION 1962 AWARDING SALE OF BONDS., MUNICIPAL IMPROVEMENT BONDS SERIES,NO. 55-1.t CITY OF REIT0100D CITY PARKING DISTRICT NO. 1., SECOND SALE., $750,,000 and moved its adoption., seconded by Councilman Jones. Councilman Britschgi was of the opinion that the Council should consult with the people in the area before taking any action as this is in connection with their property and they are going to have to pay the bill. They should be allowed to determine if the Council should go ahead with the awarding of the bid. Mr. Wilson stated that this bid was good for only 25 hours and would not be extended beyond that period* Councilman Stout stated his opinion why he made his motion and he believes that arW delay would not help the matter. Councilman Granger stated that if there had been a substitute he might not go -along with this particular bid but under the circumstances he believes that there was nothing else the City could do* The City is under obligation and they should go ahead with the matter. The motion carried on roll call with Councilman Britschgi voting NO. PUBLIC HEARING., PLANNING COMMISSION RECO1: ENDED DENIAL CF THE APPLICATION OF R. D. SIFFORD TO REZONE PROPERTY AT JEFFERSON AND ALAMEDA DE LAS PULGAS FROM R-1 TO C-1-11. Affidavit of mailing was ordered filed. There were no written protests. Mr. John Chapman., 558 Alameda de las Pulgas., spoke against this rezoning because of the traffic problem* He stated that he would not be against the rezoning if the Council would put in stop signs on Jefferson Avenue* Mr. Arthur Eskelin3 appearing for his wife who owns property 2001 from the proposed rezoning, spoke at some length aL--ainst rezoning of the area. Councilman Britschgi moved that the public hearing be closed., seconded by Councilman Spillers and carried. Councilman Jones moved approval of the Planning Commission's recommendation to deny the application of R. D. Sifford for rezoning., seconded by Councilman Granger and carried on roll callj, Councilman Royer voting NO. Councilman Royer stated that something should be figured out in regard to this property as to other rezoning if not commercial as it is his opinion that this property could not be used for residential property. ADOPTION OF ORDINANCE RELATING TO SALARY PLAN AND ESTABLISHING POSITION OF ASSISTANT TO CITY MANAGER. Affidavit of publication was'ordered filed. There being no protests., written or oralj, Councilman Spillers moved close of public hearing., seconded by Councilman Stout and carried* Councilman Stout offered ORDINANCE 814 pow RELATING TO SALARY PLAN AND ESTABLISHING POSITION OF ASSISTANT TO CITY" MANAGER and moved its adoption, to" seconded by Councilman Spillers and carried on roll call* PERSONAL APPEARANCE., MRS. LOUISE TORNELL., secretary of the Parkand Recreation Commission., stated that the following had been discussed with the Park and Recreation Commission. Mr. Tornell told of a Park and Recreation Foundation formed in Spokane., Washington. She read excerpts from their by-laws. This is a non- profit organization. Mrs. Tornell explained the way, the Foundation worked and its functions and she was of the opinion that a similar plan could be used by the City of Redwood City.