1984 REG MTG MIN JUN 19 - Laserfiche WebLink

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461 Prezoning Ord. No. 1664 Mayor Huntoon declared the Public Hearing open. City Clerk Ramos submitted the Affidavit of Publication and reported that she had received a Petition containing approximately 71 names in opposition. City Attorney Edwards advised that this matter, the Prezoning, in- volves the same parcel of land to be considered for annexation into the City, and is scheduled for public hearing at the Council Meeting to be held July 17, 1984. Mr. Edwards stated the Council could con- sider the Prezoning at this time, or continue this hearing to the 17th of July, and handle both matters at the same time. Moved by Councilman Rios, seconded by Councilwoman Cisneros, to con- tinue the Public Hearing for the Prezoning, Index No. A-1-84, to Tues- day, July 17, 1984, at 7:30 p. m. Unanimous vote. CITY MANAGER'S REPORTS AND RECOMMENDATIONS: NM l-1 Mortgage Revenue Bond Program City Manager Elliott reported on the Mortgage Revenue Bond Program, advising that the City has received an allocation from the Cali - Q fornia Mortgage Bond Allocation Committee authorizing the City to issue its mortgage revenue bonds under the provisions of AB 1355, and Staff has been advised by Miller & Schroeder Municipals, Inc., the underwriter, that they would like to be in a position to close this bond issue by the end of June In order to obtain interest rates that are as favorable as possible and to avoid changes in California law scheduled_ to go into effect on July 1st. Mr. Flliott concluded Staff recommends the City Council approve RESO- LUTION NO. 4480, authorizing the issuance of Single Family Residen- tial Mortgage Revenue Bonds 1984 Series A; RESOLUTION NO. 4481, ap- proving financing documents, including a bond purchase agreement, with respect to its Single Family Residential Mortgage Revenue Bonds 1984 Series A; and accept the Proposal from Best, Best and Krieger, as attorneys, with respect to performance of legal services in con- nection with the Issuance of Single Family Mortgage Revenue Bonds. Mr. Glen E. Stephens, of Best, Best, & Krieger, stated he felt the documentation presented to the Council Members on this matter was self explanatory, and, as yet, they have no word on the decision of AB 1355. After discussion, moved by Councilman Rios, seconded by Councilwoman Cisneros, to approve Staff's recommendation with regard to the docu- ments concerning the Mortgage Revenue Bond Program. Unanimous vote. ORAL COMMUNICATIONS: Mrs. Hunter, from Lake Cadena Mobile Home Park, stated she did not hear anything mentioned this evening about the work to be done at Lake Cadena, and she wondered when this would be started. City Manager Elliott stated the item concerning the work to be done at Lake Cadena was on the Consent Calendar, awarding the Bid to Southern Construction Systems, Inc. Mr. Elliott advised it was ini- tially proposed that this project would be done in phases, however, it will now be completed in its entirety, which will take approxi- mately 60 days. CLOSED SESSION: The City Council adjourned to Closed Session at 7:46 p. m., to discuss Personnel Matters, and reconvened at 8:40 p. m., all Members present. JUN 1 9 1984