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8. STAFF REPORTS — CITY COUNCIL <br />A. Financing for the new Police Activities League (PAL) Community Center located at <br />3399 Bay Road in Redwood City <br />Staff contact: Scott Warner, Police Captain 780 -7130 swarner0redwoodcitv.orq <br />Recommendation: <br />Adopt a resolution approving and authorizing execution of agreement with Bay <br />Area Bank and PAL, with the City of Redwood City as "guarantor" of the loan. The <br />loan will be in the amount of $1,500,000.00 to allow for completion of the new PAL <br />Community Center. <br />A RESOLUTION OF THE COUNCIL OF THE CITY' OF REDWOOD CITY AUTHORIZING <br />PROCEEDINGS AND AGREEMENTS RELATING TO A GUARANTY FOR THE <br />BENEFIT OF THE POLICE ACTIVITIES LEAGUE COMMUNITY CENTER PROJECT <br />AND AUTHORIZING OFFICIAL ACTIONS <br />9. PUBLIC HEARINGS — CITY COUNCIL AND PUBLIC FINANCING <br />AUTHORITY <br />A. Public Hearing for Potential Loan to the Police Activities League — CITY <br />COUNCIL <br />Staff contact: Brian Ponty, Director of Finance and Financial Planning <br />780 -7048 boontv(a)redwoodcitv.orq <br />1) Staff Report; <br />2) Open public hearing; <br />3) Hear public comment; <br />4) Close public hearing; <br />5) Council discussion; <br />Recommendation: <br />It is recommended that the City Council hold a public, hearing, as required <br />under Section 147 (f) of the Internal Revenue Code, to provide the City with <br />the option of loaning up to $1.5 million of bond proceeds to the Police <br />Activities League. <br />JOINT CITY COUNCIL, PUBLIC FINANCING AUTHORITY NOVEMBER 3, 2003 <br />AND REDEVELOPMENT AGENCY MEETING AGENDA PAGE 4 <br />