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46 � questions concerning the inclusion of BCDC representatives on the Com- mittee to keep that agency informed; the pending Regional Seaport Plan; whether th� City's plans and the regional plan will be compatible; the apparent conspiracy of certain organizations to force the City to dedi- cate more bay land in exchange for any concessions relating to plans for development of the area; the fact that the property in question has already been used seven times for dredge spoils and that a dike ,,,,,�, break on non-Port property caused some of the area to be under water presently; the fact that some $450,000 has been invested in the dis- � posal site to prepare it to receive dredge spoils; and the demands of some conservation groups that the property be deeded as a game reserve with no payment to the City for its loss; the division on the Comnittee caused by forcefully stated opposing points of view; and the fact that Leslie Salt Co. i$ not ready to proceed with any development� plans and could not be forced to yield concessions as had been expected by BCDC. It was pointed out that the Williams-Kuebelbeck Report prompted the establishment of the Special Area Plan Committee because it was be- lieved the Committee could be a tool whereby conflicts of various agencies might be resolved, but opposing opinions did not change and no compromise was possible. Councilman Biagi , Comnittee Chairman, observed that the City has the right to do its own land use planning, but will have ta apply for permits, so to that extent it may be helpful that Committee discussion has taken place. Mayor Barrett noted that Council will expect the Port Commission to make a recommendation to Council on the Plan. � Revenue Bond Issues - Repairs to Existing Marine Facilities � Port Manager Di Pietro advised that he had requested Wainwright & Ramsey, Inc. to look into the matter of the capability of the Port to issue revenue bonds. Frank Fargo, Wainwright & Ramsey, Inc. , consultants on municipal financing, advised that the best approach for the Port to use with regard to a revenue bond issue is to have a refunding issue and take out the 1964 issue, leaving the balance for much needed capital im- provements. In response to questions, Mr. Fargo advised the Council would have to approve prior to the bond issue and that while the bonds proposed to be retired have a low interest rate, the shorter � payment time would create a saving. Mr. Fargo noted that also the ' sooner the repairs are done, the less the work will probably cost, and advised that no discount would be involved. He read from his report to the Port Manager. ' Mayor Barrett stated for the record that he hopes the Port Cornrnission � will look with favor on issuing revenue bonds as described by Mr. � Fargo, noting that a recent Charter amendment indicates there is � support for such action by the Port. t Mr. Di Pietro described the nature of the repairs needed to bring � � the Port to the point where increased participation in water traffic � � is possible. ,,,,�; � � Jt.Mtg. w/Port , 4/9/79 Page 2 � ' , � �� � f ,,