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I • . � 1sx In response to question, Councilman Bidgi, member of the Housing and Human Concerns Committee, explained that entrance into any pro,7ect is a financial aspect of it and depends upon the cost of , -� the pro�ect. MOTION Councilman Bury moved, seconded by Councilman Norris, to ' approve the Articles of Incorporation and Bylaws for the proposed Cooperative Development at Redwood Shores as recommended by the Housing and Human Concerns Comm ttee in Chairman Vega's report of April 10, 1978. (MINUTE ORDER NO 78-94A) � The motion carried unanimously by voice vote a Real Propertv Conveyance Tax City Manager Fales referred to his report regarding the sub�ect tax dated April 14, 1978. Mr Fales observed that through adoption of RESOLUTION N0. 7979 on January 16, 1978, the City Council expressed its intention to comply with the majority vote on the advisory measure relating to the tax, to be effective July 1, 1978, and that � the matter is, therefore, before Council for consideration at this time in view of the result of vote on Proposition L at the General Municipal Election on April 11, 1978. - � Robert E 0'Connor 12 Greenwood Lane, suggested Council should con- sider repayment of funds collected under the conveyance tax. City Attorney Schricker stated that the question put to the voters for advisory vote and Section 3 of RESOLUTION N0. 7979 indicated that it is the intention of Council to comply with the ma�ority , vote of the electors voting on the advisory ballot by enacting legislation which shall be effective on and after July 1, 1978. Mr Schricker stated that the matter has to do with prospective not retroactive legislation Brief discussion followed and Mr 0'Connor and Mr. Schricker com- mented concerning the legal status of a petition relating to the tax and the intentiori of Council to reenact the Documentary Trans- , � fer Tax as stated in the advisory question on the ballot and in a RESOLUTION NO 7979 MOTION Title having been read, Councilman Rhodes introduced the following ordinance and moved, seconded by Councilman Biagi, its approval for first reading ORDINANCE REPEALING ORDINANCE NO 1679 AND ARTICLE III OF CHAPTER 32 OF THE CODE OF THE CITY OF REDWOOD CITY, THE REAL PROPERTY CONVEYANCE TAX ORDINANCE OF THE CITY OF REDWOOD CITY, , AND ADDING ARTICLE III (COMMENCING WITH THE ARTICLE HEADING) TO CHAPTER 32 OF THE CODE OF THE CITY OF REDWOOD CITY ESTAB- LISHING A DOCUMENTARY TRANSFER TAX ON THE SALE OF REAL PROPERTY, OPERATIVE JULY 1, 1978 The ordinance was approved for first reading unanimously by roll ' call vote. -4- , Reg.Mtg. 4/17/78 �