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122i-96 L-'omprehg.n.� ve Annual Report. <br />With a consensus of the Council, Mayor Gaytan continued this item to the Council Meeting of April <br />4, 199x. <br />FAK ',CAL Financh-,igg.Rm rani 0 -tem 15 of thea) Wata Rate Ingrgase (Item 28 <br />--- Consent Calgnd,rand <br />ofdyAgenda� <br />j <br />Councilmember Sanders requested that these items be continued. <br />Tom Clarke, Utilities Director, explained that the FARECAL group is on a specific schedule and <br />there are other participants that are waiting for the City of Colton to take action and are not willing to <br />wait beyond the .April 1, 1997, deadline otherwise the City would have to withdrawfrom the finance <br />program, He asked that the Electric portion be approved. He reported this item was presented to the <br />inei-ribers of the Utilities Cor mnission. an.d their recommendation was a $5 million participation with a <br />rate increase of 5 '12%, Director Clarke explained staff7s recommendation of $10 inillion wit' <br />h a rate <br />increase of 7%. <br />Discussion continued with clarification provided by staff. <br />City Attorney Biggs, advised that Item <br />15 and Item 28 were two separate -issues and though inter- <br />related ter - <br />related required separate vote, Sfurther stated that Item 28 is a setting for a Public Hearin and <br />Item 15 was the approval of the documents to be prepared. Director Clarke stated the docunients <br />would not be draw-ri until all participants have received the proper approval and taking action on Item <br />15 would Lyive the authority to execute the documents which would not occur until the Public Hearing <br />was held, <br />After further discussion, Motioil/second by CM Sanders/Bennett to defer Item 15 and 28 until <br />Monday, March 24,1997. <br />Without oL�jection from. Council, Motion by CM ;ookA. layor Gaytai-.i, to approve .term 15 and 28. <br />Eugene Mc Bans, Colton resident, spoke against adoption of Resolution No, R-24-97, <br />Bill Yabn, Colton resident spolea. inst It al .15 and 28 which would. result in an increase iii his rent <br />which he could not afford to pity, <br />Vote on the Motion to approve Item 15 and Item 28 was carried CM Button, Chastain, and Bennett <br />voting "NO." <br />-C <br />UT MANAQGER'S'.REP0RB 1) —RECQ <br />_Aj—..) 1 -0M1 <br />