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6.1.A. - Page 9 <br />RESOLUTION NO. 15163 AUTHORIZING THE ISSUANCE OF SPECIAL TAX BONDS <br />FOR AND ON BEHALF OF THE CITY OF REDWOOD CITY COMMUNITY FACILITIES <br />DISTRICT NO. 2000 -1 (PACIFIC SHORES PROJECT), APPROVING THE FORM OF <br />AND DIRECTING THE EXECUTION OF A FISCAL AGENT AGREEMENT, ESCROW <br />INSTRUCTIONS, A CONTINUING DISCLOSURE AGREEMENT AND A BOND <br />PURCHASE AGREEMENT, APPROVING THE FORM OF AN OFFICIAL STATEMENT, <br />APPROVING SALE OF BONDS, AND APPROVING OTHER RELATED DOCUMENTS <br />AND ACTIONS <br />Brian Ponty, Finance Director, presented the report asking Council to provide staff the <br />authority to issue bonds. He provided some background information on the genesis of <br />the bonds and the development agreement. Mr. Ponty said there are no city funds at <br />risk and these are not secured by the city. The only securities are the eleven properties <br />involved in the transaction. Mr. Ponty added that the owners are being charged for the <br />time staff is spending on this. The financial team was present to answer any questions <br />and Mr. Ponty introduced Jeff Stava and others. <br />One Council Member inquired if this transaction would be impacting our bond rating and <br />Mr. Ponty said no. <br />M/S Seybert /Ira to approve the resolution. Motion carried unanimously by roll call <br />vote. <br />B. An Ordinance Adding Division 5.5, Sections 3.93 through 3.96, of <br />Chapter 3 to the Redwood City Code Relating to Modification of Sign <br />Regulations <br />Recommendation: <br />Waive First Reading and Introduce an Ordinance Adding a New Division 5.5, <br />Sections 3.93 through 3.96, of Chapter 3 to the Redwood City Code Relating <br />to Modification of Sign Regulations. <br />AN ORDINANCE OF THE CITY OF REDWOOD CITY ADDING DIVISION 5.5, <br />SECTIONS 3.93 THROUGH 3.96 OF CHAPTER 3 TO THE REDWOOD CITY <br />MUNICIPAL CODE RELATING TO MODIFICATION OF SIGN REGULATIONS <br />Bill Ekern, Director of Community Development, said this is clean -up legislation and this <br />is something he worked on with the City Attorney's office. One Council Member wanted <br />to know how folks will be informed and Mr. Ekern said they plan to place it on the <br />website and will do some outreach to the developer world. <br />M/S Gee /Seybert to introduce the ordinance. Motion carried by unanimous roll call <br />vote. MINUTE ORDER 12 -010 <br />City Manager Bell said staff would send a memo through the Chamber of Commerce <br />and to big sign companies on this matter so they are all aware. <br />9. MATTERS OF COUNCIL INTEREST <br />A. City Council Members Reports of Conference /Meeting Attendance <br />JOINT CITY COUNCIL/REDEVELOPMENT AGENCY BOARD January 9, 2012 <br />MEETING MINUTES PAGE 9 <br />