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� o �� or purchase of water direct from San Francisco and payment of a trans- p tation charge to Belmont Water District, but advised that the only fo al agreement existing is the one due to expire next year. The sub ct of improved access to Redwood Shores was also discussed, and Mr. P sich commented nn the agreements presently in process, which were author zed by Council with regard to the Holly Street overcrossing �"" project and the sequence of events that would follow, i.e. , advertise- ment for ids by the State, payment of deposit by the City, award of � contract, nd then construction of the project, which he estimated would run i to next fall and winter. Mr. Fales emp sized the necessity for a decision to be made this evening, and d cribed the various things that must be considered be- fore any bond is ue is approved, the great burden of commitment in view of uncertainties f weather, time required for award of contracts, escalation of cons uction costs, as well as the personal and pro- fessional responsibi ities to be borne by staff and Council. Don Warren, representi g Mobil Oil Estates, in response to questions by the Directors, confi ed that their commitment is as stated in their letter - to spend bil funds on a schedule concurrent with the � schedule of the B o ard . Cliairman Barrett noted the presence in the audience of representatives \of Mobil Corporation, New York City. Mr. Fales indicated that, ass�ning the decision is made by the Directors at this meeting to proceed with�the bond issue, then the next Council Agenda will have on it the most �,mportant actions to be taken by Council on the bond issue, and wo�u,ld include among others approval of the Official Statement which was p�vided to Council in advance to allow sufficient time for review anc� to allow for suggestion5 to be ,.•. made through the Finance Director to artle Wells Associates. � Tom Vance, 425 Palomar Drive (unincorpo ted area) , inquired regarding the agreement for the present water supp to Redwood Shores, to which Mr. Fales responded. John Murphy, 421 Luff Lane, referred to his etter of January 27, 1979 (received in the office of the City Clerk on �anuary 29 and dis�ributed to the Board prior to the meeting) re: GID 1-6 Committnent Letter and Proposed Agreements 1/29/79 Meeting, and the te of which he stated outlines his position. Robert Slusser, 541 Cringle, indicated he had looke over the material in the reports and congratulated staff and Mobil and �ressed support for the bond issue, noting the risk that staff, B o ar and Mqbi1 are willing to take. He was advised in response to questio s that possibly 800 feet out of 26,000 feet of the water line to be buil is outside the District, but is by the �st feasible and direct rout • also that if, through no fault of the developer no improvements are p aced, the existing improvements have a potential of nearly doubling th taxes. Michael Demetrios, 237 Polhemus, Atherton, representing Marine orld, spoke in support of the bond issue, stating that the more develo ment there is in Redwood Shores the more viable it becomes as a commun'ty, the more taxes that will be generated, and the more favorable thei �" position; that they are presently the second largest taxpayers in t District. � GID 1-64 Bd./Dir. 1/29/79 Pag�.2