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446 _ <br /> Mr. Fales stated for the record that the costs of cpnstruction of the <br /> exterior area of Levee A was to have been repaid to Mobil when the <br /> bonds were. sold. He stated that some $197,000 of work has been done <br /> already and Mobil will complete the construction to a maximum cost <br /> of $284,000. <br /> Councilman Rhodes asked that his request for verbal confirmation from <br /> Mr. Warren that Mobil will not hold the District liable for the levee �i <br /> work at some future date be included in the record. <br /> rrrri <br /> Mr. Warren then stated for the record that the portion of construction <br /> for the levee so far has cost about $197,000, and Mobil will assume <br /> responsibility for the total amount of the project to a maximum of <br /> $284,000. <br /> Councilman Norris stated for the record that while he approves Mobil 's <br /> forceful and positive response at this time in increasing their par- <br /> ticipation so that the _projects may proceed, he objects to the fact <br /> that they have not indemnified the District in the event development <br /> fails to occur. He stated that he believes the lack of long term <br /> cor�nitment from Mobil to the proJect is the reason for �the poor bond <br /> rating and for. those reasons the agreement is still inadequate. <br /> City Manager Fales read a statement he had received from the New York <br /> headquarters office of Mobil dated March 8, 1979 confirming the <br /> commitment of funds in the proposed amendment to the agreement <br /> outlined by Mr. Schricker. <br /> City Attorney Schricker advised that technical changes in the agree- <br /> ment relating to flexibility of allocating funds on behalf of the <br /> District and reiating to Bair Island figures are also necessary, and <br /> two resolutions should be adopted making the changes, if consideration � <br /> is to be given to selling the bonds. <br /> In .response to question, Director of Public Works Pusich advised that � <br /> his project cost estimates still hold. Mr. Pusich stated that it <br /> is his intention to proceed with the projects as soon as possible <br /> to avoid increased costs which might be caused by inflation. <br /> MOTION: Titles having been read, Councilman Biagi introduced the <br /> following resolutions and moved, seconded by Councilman Chandler, <br /> their adoption: <br /> RESOLUTION N4. 8242 APPROVING AND AUTHORIZING EXECUTION OF <br /> AMENDMENT T0 GREEMENT WITH MOBIL OIL ESTATES (REDWOOD) <br /> LIMITED RELATING TO CONSTRUCTION OF CERTAIN IMPROVEMENTS <br /> AND PROVISION FOR PAYMENT OF CERTAIN TAXES (GID 1-64) <br /> RESOLUTION N0. 8243 APPROVING AND AUTHORIZING EXECUTION OF <br />+ AMENDMENT TO AGREEMENT WITH MOBIL OIL ESTATES (BAIR <br /> ISLAND INV�STMENTS) LIMITEO RELATING TO PROVISIONS FOR <br />� PAYMENT OF CERTAIN TAXES (GID 1-64) <br />� The resolutions were adopted by the following roll call vote: <br /> � <br />` Ayes : Councilmen Biagi , Chandler, Rhodes and Mayor Barrett <br /> F � <br /> ! Noes: Councilman Norris <br /> � <br /> � <br /> � .�." <br />� <br /> Adj.Mtg. <br /> 3/8/79 <br /> Page 2 <br />