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MAYOR DIANE HOWARD M I N U T E S VICE MAYOR IRA RUSKIN COUNCIL MEMBER RICHARD S. CLAIRE 1017 MIDDLEFIELD RD. COUNCIL MEMBER JIM HARTNETT REDWOOD CITY, CA COUNCIL MEMBER JEFF IRA COUNCIL MEMBER COLLEEN M. JORDAN COUNCIL MEMBER MATT LEIPZIG January 23, 1999 8:00 A.M. PRIORITIES STUDY SESSION REGULAR ADJOURNED MEETING SANDPIPER COMMUNITY CENTER 797 REDWOOD SHORES PARKWAY REDWOOD CITY, CA CALL TO ORDER - 8:38 a.m., Mayor Howard presiding ROLL CALL Council Members Present: Claire, Hartnett, Ira, Leipzig, Vice Mayor Ruskin, Mayor Howard (Jordan arrived 8:43 a.m.) Staff Present: City Manager Everett, Interim City Clerk McKay, Assist. to the City Attorney Rosen, Police Chief Bolanos, Fire Chief Montez, Finance Director Ponty, Community Development Services Manager Patterson, Parks and Recreation Director Griffiths, Parks Recreation and Community Services Superintendent Centeno, Community Development Director Nelson, Public Works Director Ingram, Human Resources Director Rivera-Pefia, Assistant to the City Manager Moore, Library Director Chen, and Facilitator Cecil Reeves. Finance Overview Committee Report Council Member Ira reported the committee's recommendation is to provide an ending fund balance reserve of 20% and explained the reasoning. He reported the committee also recommends that the difference between sales tax revenue and reserve amounts be appropriated to the new fire station construction, which is on a tight time table. He explained current and upcoming financial matters they are currently analyzing. It was the consensus of Council that within the next two weeks staff is to agendize a reserve balance policy for Council consideration. MEMO 1/26/99 Public Comment John Murphy, 421 Luff Lane, expressed concern for the GID 1-64 bonds expire nine years from now and encouraged long range planning by Council and the finance committee to prepare for that time. MINUTES BOOK NO. 57 Page No. 239