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<br />0t."T Mc! lqc�-r S_'_,.-t0rI., based on the an, lysis and rr-�Onramr�ndt*n.n (-.f' �,r. Don D,!wl,s.
<br />-r,ores,nti,n- City's financial cnnsi_ilta.ntls, Stone Yc:un-,ber7, and Mr. J,,)Im(.'F,
<br />PDani,-I, 11ann, J��hnsnn �,nd
<br />4.- -_-,)mmrnd-r� "ounc-I a(,cepi.. tIr. 1)10 -)f the 'R,in,� of Imerica,
<br />h,- ._`-.r n -i. mm nd �` ep. h, ' 'r mericr ,
<br />INI.T.
<br />-
<br />INI.T. F,- S.A . --in(. �s-,oc,-Intes, for FricIlitirs Rond,s, '-lerf-,es in the amount r)f
<br />$1,150,000, and Ponds, Ser!.. -s _J_n the �.mnunt of 4,500,000.
<br />Paul T,-ssendorf f, 215 Claremont, 11,lestirned PUrT),-)2(?- of
<br />sale of thesr, bonds.
<br />r'!, tvR�.-I
<br />nn mer 7dvs(-d a porti.,)n r)f tl-il.s first issue of b-)nds is to 1.)-_ used as
<br />re-'.mburserient f,, -)r funds which -,arca e%7pended under the fiindin,7 a7,r(Nement be.twe,-en
<br />r),,7ner,s -,nd City for i,.,ork basic�_I_Iy complet-d, In Primary Fill areas I end. II of the
<br />-)e used for further sii nrnn-�.ratlnn rind f-c'111tv
<br />nroj(n,ct., remainder of which �111� 1, .1-11 - I
<br />or'- In s, -)me area. City !JIrn:r -isled Mr. Davis t^ respon(I t,,.) further ni)es-
<br />concernin- -eirnbursement fll(-uros to be pald fogym the bonds ,nd other (-ucs-
<br />tiorin,7 for c 1� r1f icatl on ronce=-! nrr bonds. Mr. Davis report^d of the '--o-1-a-I
<br />amount of bonds there had been b-nd i-nterest funded for rxi.t months ,,!hich 1-:Culd
<br />.n,r,-rPr--ate on combined Issues aboUt, $-X20,000 besides otl-(,-r incidental e--penses
<br />involved, in Pny event leavi,nF some $2,000,000 sti-.1-1 aveJLl,-).b_!e for worl- on the
<br />project.
<br />,ouncilm,-)n Henderson stated her concern for this nrojecf; h7,d not diminI.Chnd:
<br />lecl, to her sitt-IsfactIon, and 1,T_
<br />, T M
<br />several areas had stil-I not been cl.-,r.i.f s opposed
<br />Tq i4
<br />to sel-11-ng, bonds at ^.n interest rate of better tn 5,1-q,-,' � L -1h total coc.tf- running
<br />over :'',000,000, literally 30� more than bonds, and. in her opinion not -,. 7ood. time
<br />for sale of bonds, and would re,�ue
<br />st Cnuncil to consider not awarding; bids at this
<br />L
<br />time in best intero-sts, of common l.ty.
<br />Mayor llerllner adv --;.sed Council would t�.'e remarks m=ade by Councilman Henderson into
<br />(--,,.nsi1,d.erat-!.on on both bond issue-..
<br />Oouncliman Rosselli moved, to a.dont P
<br />,I,SnLUTTON NO. 5040 11,150,000 PRTNCTPAT,
<br />ANY)UNT OF R,,D',!OOD CTTY G7,NFRA_Ti, TM.PROVE'MFNTS DTSTRT(7T NO. 1-64 1.064 FIIPTIITTT7-.S BONDS,
<br />SI:7P,S FTKTNG THP" T_)T7FTTTTrP777, EP,717S OF TNr.P7RT,ST TFIER7PN, seconded by Coun-
<br />Iman 7ecllPy and carrIed on roll call vote. Councilmen ?-Iury, Ke-okley, P(--.te7.-sr,,n,
<br />7P,osselli and Mayor Herkner vot-J.n.cr yr's_, Council.=n Henderson voting no.,
<br />rrran�er b(-inF- noted absent
<br />Councilman Pury moved to ',tESOLUTION N0. 5041 S!,-I_,T,TNG. 14,500,000 PRINr.TP^,J-
<br />,MOUNT nP R17D�.-!nOD ('TTY GETITFR!I. T, TMPROVEMENT DISTIRTCT NQ . J_-64, 19 '4 RE T1_ IA M 770N
<br />T30NDS, SEPT --S) A, 11,111) F-TXTN(T TliT- 1)7FTNITTV7�, RATFS OF =1,7-cEST T_HRR7,ON, secondcd. by
<br />Councilman Petersen, land carried on rollcaJl vote, Councilmen Fury, Vecl,-ley,
<br />P(--tersen, Rosselli and Mayor 7erl,--ner voting; yes, Council_ma.n Henderson votincr, no,
<br />Councilman Granger bein7 noted Pbsent.
<br />TION NO. 504? .1,PPROVTNG AGRI�EMENT FOR CITY
<br />0ouncilman Possell-I moved to adopt R'7,,SOT -U
<br />IDA79PTCTPATTON TN I.IORY"-STUDY PROGRAM UNDER mLHj, 'PrOT10.14TC OPPORTUNITY ACT, IAIN�.
<br />ATJTP0RJ7TNG OTTY PLANNTNG DIRECTOR TO EXE.PUT,, SAT) AGR7,7747ENT.
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