1999 SEP 07 REG MIN - Laserfiche WebLink

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RECESS: At 8:18 P. M., Mayor Gaytan declared a brief recess and at 8:43 P. M., the meeting was reconvened with all Members present as heretofore. 1999 Tax Allocation Bonds This was the time and place fixed to conduct a Public Hearing regarding the issuance by the Redevelopment Agency for the City of Colton of its Mount Vernon Corridor Redevelopment Project 1999 Tax Allocation Bonds. Mayor Gaytan opened the Public Hearing. Deputy City Clerk Delgado submitted the Affidavit of Publication for the Public Hearing and announced that she did not receive any protests or objections Redevelopment Director stated this was the same item as described more fully in the Public Financing Authority and Redevelopment Agency Meetings held earlier this date. In brief summary, he stated the law required the legislative body to approve all financing issued by the Redevelopment Agency. He said a TAFRA hearing was required since the Agency proposed to use a portion of the bond proceeds from the Mt. Vernon Project Area to retire the debt on the Rancho Med notes issue and the agency might use a non-profit organization to either own as a rental or own and then try to resell the lots. MOTION/VOTE: With no other comments offered, motion/second by CM Bennett/Sanders to terminate the Public Hearing carried with no opposition. Motion by Mayor Gaytan, seconded by CM Cook, to approve and adopt RESOLUTION NO. R- 83-99, approving the issuance by the Redevelopment Agency for the City of Colton of its Mount Vernon Corridor Redevelopment Project 1999 Tax Allocation Bonds and its West Valley Redevelopment Project 1999 Tax Allocation Bonds. Motion carried upon unanimous vote. ORDINANCES: First Reading: Mt. Vernon Corridor and West Valley Project Redevelopment Director Steel requested that, upon legal advice, the proposed ordinances for the West Valley Project be combined as one document to be identified as Ordinance No. 0-18-99. Ordinance No. 0-19-99 will not be used. MOTION/VOTE: Motion/second by CM Sanders/Cook to waive full reading and pass first reading of ORDINANCES NOS. 0-17-99 AND 0-18-99 carried unanimously. First Reading: Daytime Loitering by Minors MOTION/VOTE: Motion/second by CM Sanders and Mayor Gaytan to waive full reading and pass first reading of ORDINANCE NO. 0-20-99 carried unanimously. City Council Mins Sept 7, 1999 3