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367 Councilman Petersen entered the meeting at 7 : 45 P . M . Submission of galley proof for Official Statement , "D " Series Bonds , GID i - 614 . City Manager announced that he had asked Mr . Nathan D . Rowley , City ' s Bond Counsel , to make a presentation relating to the galley proof of the Official Statement pre- pared by Stone & Youngberg and their firm , and submitted to the Council this week for the proposed sale of Series "D" Bonds . He advised galley proof had been sub - mitted for Council ' s review prior to taking action to authorize sale of these bonds at Council ' s next meeting , and stated it was recommended that Council members dur- ing this interval refer all questions they might have to Staff so detailed discus - sion could be held prior to Council ' s action . Mr . Nathan D . Rowley , member of firm of Orrick , Herrington , Rowley & Sutcliffe , San Francisco , City ' s Bond Counsel , ad- vised draft of Official Statement which had been prepared after a series of meetings with City Staff , DMJM, Stone & Youngberg , City ' s financing consultants , and also comments from Marine World , Leslie Properties , and Ralph Clark , the appraiser . He stated some revisions and additions would be made this coming week in order that it could be presented in final form for Council approval on June 23 . It is intended to mail the statement to bidders on June 27 , Mr , Rowley stressed point that the members of the Council are responsible for the Official Statement and therefore should study and understand the entire text . While all conclusions and decisions contained therein were prepared by Council ' s professional advisors , a recent Federal Court de - cision made it very clear the directors of a corporation are not relieved of personal responsibility for any errors on grounds that they relied on advice of experts . In this re - spect he stated it was important no misstatement of facts be set forth nor any facts be omitted which might affect inter- ested bidders , and concurred with staff recommendation that Council members make their questions known during this coming week . Council questioned source and reliability of mathematical estimates used in Official Statement and whether any audit had been made ; need for and extent of Council action scheduled for next week ; questioned reference in Official Statement to pending leg- islation and possible need for a statement regarding effect on this project in order it might be reviewed before next week . Both Mr . Rowley and City Attorney spoke to point of their study of pending legis - lation and their oral opinion that no apparent pending legislation would affect work completed in this project , but that a confirming letter could be submitted . if desired by the Council . Mr . Rowley advised mathematical estimates set forth in the Official Statement all are derived from City ' s financial advisors or engineers . Mayor Bury indicated request made for a copy of comments made by Mr . Rowley might well be submitted for Council ' s review , in view of the implications of Council ' s responsibility in this proposed sale of bonds for the District , (For verbatim transcript see Clerk ' s file GID i -64 Series D Bonds . ) Continued PUBLIC HEARING , Appeal of JOSEPH A . REPETTI and ROBERT J . DELL ' ERGO , from denial by the Planning Commission of their application to amend the Zoning Map to rezone property located at 1441 Hudson Street , being portion of Lots 1 and 2 , Block A , Woodside Acres , containing approximately one acre , from "R-2 " ( Residential -Duplex ) District to "R- 3 " ( Residential -Multi -family- low -density ) District , declared open and affidavits of publication and mailing ordered filed . a 16 .69