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MINUTES OF THE JOINT MEETING OF THE CITY COUNCIL AND BOARD OF PORT <br />COMMISSIONERS OF THE CITY OF REDWOOD CITY December 2, 1986 <br />PAGE THREE <br />AGENDA <br />ITEM NO. <br />VII. PORT SUBVENTION TO CITY <br />Commissioner Bennett stated the Port does not have excess funds at this time <br />and, consequently, cannot subvent money to the City. <br />President Dodge stated the Port will subvent ten percent of net operating income, <br />$67,278, for fiscal year ended June 30, 1986, when surplus funds exist. <br />VIII. ADJOURNMENT <br />Councilman Chandler moved the Council adjourn, seconded by Councilman <br />Stangel, approved by voice vote. Time of Council ajournment: 10:06 p.m. <br />Commissioner Bennett moved the Board adjourn to their next regularly scheduled <br />meeting on Wednesday, December 10, 1986, at 8:00 a.m., seconded by <br />Commissioner Spillers, approved by voice vote. Time of Board adjournment: <br />10:07 p.m. <br />LETICIA B. CECCONI <br />ASSISTANT PORT MANAGER <br />Joint.Mtg. <br />12/2/86 <br />Page 3 <br />MINUTE BOOK NO. 46 <br />Page No. 465 <br />