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a. Due diligence review of LMIHF balances per A61484 <br /> b. Set date for public comment session and public meeting to consider to <br /> due diligence review of LMIHF balances <br /> Mr. Ponty said that there is a deadline of October 1 for the due diligence to be submitted to <br /> the Board, but the guidelines will not be released until after August 31, 2012. This means it <br /> will be a tight deadline. Then once the due diligence is done,the Oversight Board must <br /> meet and have a Public Comment session on the due diligence review time, and then within <br /> five days have the board meet again and approve the due diligence. The approved due <br /> diligence review must then be submitted to the State Department of Finance no later than <br /> October 15, 2012. <br /> There was some discussion about schedules.The Board agreed to place three dates on hold <br /> October 1, 8 and 15.The packet would go out Sept. 27, 2012. Mr. Ponty said this is not <br /> ideal but there is a tight timeline. This would mean no meeting in September. The time <br /> suggested was 2 p.m. Mr. Labadie said he would have a conflict on October 8, 2012. Mr. <br /> Labadie said that the first meeting is to hold a public comment session and the second <br /> meeting is to review, approve and transmit. There was a quorum for the ist date of 8 <br /> and the 2"d date of October 15 for meetings at 2:00 p.m. at City Hall. <br /> 10. Oral o munications from the Successor Agency Contact Brian Ponty <br /> Mr. ab die informed the Board that City Clerk Vonderlinden and he had worked on a <br /> C flict of Interest Code, per the Fair Political Practices Commission, and this will be before <br /> t e City Council on September 10, 2012 for approval. <br /> 1 . Adjourn—the meeting adjourned at 3:15 p.m. Chair <br /> Re II submitt , <br /> Silvia inden, <br /> ity e <br /> Approved at the Oversight Board meeting of October 15, 2012 <br />