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<br /> Mayor Howard said, "On behalf of the Council I'd like to acknowledge receipt of this <br /> Performance Measurement Report, and thank you again for the fine job you did in putting <br /> it together and presenting I to us. <br /> MEMO 2/3/98 <br /> -------------------______n______-------------------------------------------------------------______n______------------- <br /> Mayor Howard recessed the meeting at 9:51 p.m. <br /> Meeting reconvened at 10:02 p.m. <br /> -------------------------------------------------------------------------------------------______n________n__-______n- <br /> 4. WRITTEN COMMUNICATIONS <br /> None <br /> -----------______n______--------------------------------____n______----------------------------------______n__---------- <br /> 5. BOARDS, COMMISSION AND COMMITTEE REPORTS <br /> A. Council Investment Committee Report regarding City Hall Financing; Pursue possibility <br /> of issuing bonds for the purposes of reimbursing the City for the costs of constructing City <br /> Hall; (210) <br /> REPORT: Director of Finance and Financial Planning, February 2, 1998 <br /> Council Member Claire presented the staff report, and explained that the City had an <br /> opportunity to gain financially ITom the issuance of reimbursement bonds. He advised that <br /> the financial consultants would work on a contingency basis so that if the City did not go <br /> forward with a bond issuance, which was strictly up to the City Council, there would be no <br /> cost to the City whatsoever. He said that he and Council Member Ira were the two <br /> members of the Council Investment Committee, and they had met with the Director of <br /> Finance and the City's financial advisor, William Euphrat to thoroughly discuss this issue, <br /> and they all supported it. <br /> MIS: CLAIREIIRA TO ACCEPT THE REPORT AND DIRECT THE DIRECTOR OF <br /> FINANCE TO ENGAGE THE APROPRIATE FINANCING PROFESSIONALS TO BEGIN <br /> PREPARING DOCUMENTS FOR ISSUING BONDS FOR THE PURPOSES OF <br /> REIMBURSING THE CITY FOR THE COSTS OF CONSTRUCTING CITY HALL. <br /> CARRIED BY THE FOLLOWING VOICE VOTE: <br /> AYES: COUNCIL MEMBERS CLAIRE, HARTNETT, IRA, RUSKIN AND MAYOR <br /> HOWARD <br /> NOES: COUNCIL MEMBER LEIPZIG <br /> MINUTE ORDER NO. 98-040 <br /> REGULAR COUNCIL MEETING MINUTE BOOK NO. 56 FEBRUARY 2,1998 <br /> MINUTES Page No. 236 PAGE 21 <br />