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Recommendation: <br /> Approve, by resolution, authorization for the execution of a refunding lease <br /> in an amount up to $3.36 million between the City of Redwood City Public <br /> Financing Authority (PFA) as lessor and the City of Redwood City as lessee, <br /> and approve other related actions necessary to consummate the refunding <br /> of the PFA's 2003 Lease Revenue Bonds (2003 Bonds). <br /> RESOLUTION NO. 15264 OF THE CITY COUNCIL OF THE CITY OF REDWOOD <br /> CITY RELATING TO THE REFUNDING OF THE CITY'S OBLIGATIONS WITH <br /> RESPECT TO THE CITY OF REDWOOD CITY PUBLIC FINANCING AUTHORITY <br /> LEASE REVENUE BONDS, SERIES 2003, APPROVING RELATED FINANCING <br /> DOCUMENTS, AND AUTHORIZING OFFICIAL ACTIONS <br /> RESOLUTION NO. PFA 13-03 OF THE CITY OF REDWOOD CITY PUBLIC <br /> FINANCING AUTHORITY RELATING TO THE REFUNDING OF THE <br /> AUTHORITY'S LEASE REVENUE BONDS, SERIES 2003, APPROVING <br /> RELATED FINANCING DOCUMENTS AND PROVIDING OTHER MATTERS <br /> PROPERLY RELATING THERETO <br /> Brian Ponty, Finance Director presented the staff report (presentation on file) and <br /> explained that the debt is paid for through the capital outlay from the Utility Users Tax. <br /> They propose a different, private and competitive funding process as it is most <br /> advantageous via a private investment bank. This is because of the small amount of <br /> debt and the economics do not work for a public offering due to higher costs. <br /> There were no public comments. <br /> M/S Gee/Ira to approve the staff recommendations. Motion carries 6-0 by electronic <br /> vote with Council Member Foust absent. <br /> One Council Utilities Committee Member thanked Mr. Ponty for doing an excellent job <br /> monitoring the finances during all the sixteen years he has worked with him. He said <br /> that there may be one more item that may come back to Council in regards to the 3 <br /> percent guideline that is breaking even right now. <br /> C. Informational report on the traffic enforcement strategy for the <br /> Redwood City Police Department (706) <br /> Recommendation: <br /> This report is being submitted for informational purposes only. <br /> J.R. Gamez, Police Chief Gamez, presented the staff report with an overview of their <br /> strategy (presentation on file). He addressed the expiration of the contract with RedFlex <br /> and how now his department will initiate a multi-dimensional citywide management to <br /> citywide traffic collision. This is a more purposeful approach with three key areas: <br /> educating the public, enhancing the utilization of community input, and on the police <br /> side enforcing the rules. He added that a key component of this approach is the use of a <br /> SPECIAL JOINT CITY COUNCIL/PUBLIC FINANCING AUTHORITY May 20, 2013 <br /> MEETING MINUTES PAGE 6 <br /> MINUTE BOOK NO. 64 <br /> Page No. 359 <br />