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410 Mayor MICHAiL J. BARRETT R��O� M I N U T E S Vlce Mayor e t�� aHOOts � �� CITY COUNCIL COUNCILMEN� �� MARIO BIAGI BOARD OF SUPERVISORS CHAMBERS R08ER7 M. DURY GERALD R. CNANDLER 4O1 MARSHALL STREET MAFt6UEit I TE LE 1 P11 G - SO� NORRIS BOARD OF DIRECTOR5 GID NO. 1-64 January 29, 1979 � REVISED/CORRECTED � P,djourned Meeting The Council of the City of Redwood City met as the Board of Directors of Redwood City General Improvement District No. 1-64 on this date at 7:35 p.m. , with Chairman Barrett presiding. Directors present: Biagi, Bury, Chandler, Leipzig, Norris, Rhodes and Chairman Barrett Directors absent: None Officials and staff present: District Manager Fales, District Attorney Schricker, Assistant District Manager Smith, District Public Works Director Pusich, Deputy District Clerk Pledge of Allegiance: Councilman Bury GENERAL INIPROVEMENT DISTRICT NO. 1-64 - Commitment Letter and Proposed Agreements Series E Bonds � Chairman Barrett noted that the meeting was for the special purpose � of considering matters relating to GID 1-64. District Manager Fales � referred to the two reports dated January 24, 1979 submitted by him .r� to the Directors relating to a proposed GIp 1-64 bond sale and to a pro- posed agreement with Orrick, Herrington, Rowley and Sutcliffe, bond counsel. He indicated that the Council acting as Board of Directors for GID 1-64 will make the decision at this meeting whether or not to proceed with a bond issue, and that a decision to go forward will lead to further, basically mechanical, decisions in the forthcoming weeks. District Attorney Schricker advised that he had received the original of the commitment letter from Mobil Corporation and proceeded to distribute copies to the Directors, noting that a facsimile had pre- viously been distributed to them and that the original is substantially the same. Discussion followed regarding the extent of commitment by Mobil Cor- poration in its letter and the analysis by Bartle Wells Associates provided in their letter of January 18, 1979. Raymond K. O'Neil, Bartle Wells Associates, San Francisco, commented and replied to questions by the Directors regarding the proposed bond issue. Continued discussion related to the importance of providing water � service to the residents of Redwood Shores, presently furnished to that area by Belmont Water District under a contract which will expire `' in 1980. Mr. Fales described attempts over a period of time to nego- � tiate a written contract with the Water District that would provide