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Minutes of Regular Meeting
<br />Redwood City Council
<br />May 22, 1967 7:30 P. M.
<br />Pledge of Allegiance led by Councilman Bury.
<br />Invocation led by Reverend John Duddington, St. Peter's Episcopal Church.
<br />ON ROLL CALL the following were noted present: Councilmen Robert H. Bury, Floyd D.
<br />Granger, Mary W. Henderson, Paul C. Keckley, Herbert G. Petersen, John S.
<br />Rosselli & Mayor Sidney D. Herkner, and City Clerk Helen �. Moore. Also noted
<br />present were City Manager Howard C. Ullrich, City Attorney Richard E. Gardella,
<br />Assistant City Manager Henry V. Burget, Fire Chief J. L. Lodi, Deputy Police
<br />Chief Theodore Moudakas, Planning Director Ken Schroeter, Director of Public
<br />Works J. Louis Scherer, Auditor -Accountant Jack Ference, Chief Building Official
<br />Charles Gyselbrecht, and Deputy City Clerk Marine McCrindle.
<br />Councilman Keckley moved to approve Minutes of Regular Meeting of May 15, 19675
<br />and Minutes of Adjourned Regular Meeting of May 17, 1967 (Community Activities
<br />Building - Budget Study) as mailed, seconded by Councilman Bury and carried.
<br />GID 1-64, Bond Sale authorization. Council was reminded presentation of Brochure, as
<br />prepared by City's financial consultants, Stone & Youngberg, was made to Council
<br />at meeting of May 15th, with formal approval to be requested at this meeting, and
<br />that with the insert pages, whxh had been presented to Council before this meeting,
<br />would now constitute the final text for the Series B. Official Statement. Staff
<br />report stated it was proposed to open the bond bids on Wednesday, June 14th, and
<br />award at an Adjourned Meeting of the Council later that same day, as was done
<br />with Series A.
<br />Councilman Rosselli moved to approve Official Statement as submitted to Council
<br />in final text, seconded by Councilman Keckley. On question, Councilman Henderson
<br />expressed opposition to wording of motion made for approving Official Statement
<br />submitted in a final text as there were still missing items to be inserted, such
<br />as maps, photographs, etc.
<br />City Manager stated acceptance by Council based on submittal of final text which
<br />would be sent to printers for preparation of finished Brochure, but agreed maps
<br />and photographs missing in this edition as too difficult to reproduce, but stated
<br />he believed Stone & Youngberg, as City's financial consultants, could be depended
<br />upon to complete the prospectus in its final form due to their reputation and
<br />experience in this type of work. Mayor Herkner questioned whether text was in
<br />final form as submitted, and was advised by City Manager it was.
<br />Mr. Don Davis, of Stone & Youngberg, advised of one element missing
<br />from the text regarding overlapping debt statement which had been
<br />received from California Municipal Statistics this date and found to be
<br />in error because they had used a published assessed valuation
<br />on County Assessment records which also was in error. When corrected,
<br />it would vary only slightly because valuation represents a small
<br />portion of entities, but other than this item, text -wise, the brochure
<br />was complete.
<br />Mayor Herkner questioned Mr. Davis concerning preferred wording for approval of
<br />Official Statement brochure.
<br />Mr. Davis stated text as presented for approval was substantially
<br />the final form to be used in the completed brochure.
<br />City Attorney stated it would be in order, as in similar instances, for Council to
<br />rephrase motion so that it would state text is approved in substantially the same
<br />form as presented to Council. Second of the motion agreed to restatement of motion
<br />M9 22 'BT
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