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MOTION/VOTE: After brief discussion with Utility Director Clarke, motion/second was <br />initiated by CM Sanders/Grimsby for approval of the future annexation agreement for 1011 Grand <br />Avenue, for connection to the City's sewer system. Motion carried upon unanimous vote. <br />STAFF REPORTS: <br />FINANCE DIRECTOR'S REPORTS AND RECOMMENDATIONS: <br />Budget FY 1999-2000 <br />Finance Director Al Holliman made presentation and reported an operating surplus of <br />$1,240,000. Staff recommend approval of the following <br />(1) Allocation of the 1999/2000 operating surplus to the following reserve accounts: <br />$117,461 (Unappropriated fund balance, account no. 100-2970-000 <br />$842,250 CIP reserve, account no. 100-2585-000 <br />$280,750 PERS rate stabilization reserve, account no. 100-2595-000 <br />(2) Allocation of $1,440,000 from Colton Utility Authority (CUA) up -front payment for <br />Fiscal year 2000/01 to the CIP reserve, account no. 100-2585-000 <br />(3) Approval of budget increase in sum of $19,320 (Senior Office Specialist position for <br />Community Development Department), account no. 100-6300-6301-1010 <br />\' Discussion followed to defer allocations until January to review all projects; Christmas celebration <br />in sum of $30,000 for the community; and attachment "C" deficits. <br />MOTION/VOTE: Motion by CM Sanders, seconded by CM DeLaRosa, to approve Staff's <br />recommendations, Items Nos. 1, 2 and 3, listed above, with the addition of Item 4, to allocate <br />$30,000, from the unallocated fund balance, to Parks, Recreation and Family Services to organize <br />a Christmas celebration for the community. Motion carried upon unanimous vote. <br />REDEVELOPMENT AGENCY DIRECTOR'S REPORTS AND RECOMMENDATIONS: <br />Rancho Mediterranea <br />Redevelopment Agency Director Steel indicated this item was to appoint an underwriter and bond <br />counsel. The action was expected to lower interest rates and reduce the debt service costs. The <br />bond issue would save $100,000. <br />Mayor Pro Tempore Bennett stated that CM Grimsby excused himself from the dais for this <br />action. <br />MOTION/VOTE: After discussion, motion/second by CM Chastain/Sanders to approve and <br />adopt RESOLUTION NO. R-84-00, declaring its preliminary intention to refund certain limited <br />obligation improvement bonds, directing the preparation of a report thereon and appointing an <br />underwriter and bond counsel. Motion carried with CM Grimsby absent. <br />City Council Mins Oct. 17, 2000 4 <br />