1985 CC MIN MAY 07 - Laserfiche WebLink

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M4 6 Mayor Huntoon asked if anyone present desired to speak on this matter. Moved by Councilwoman Cisneros, seconded by Councilman Rios, the Public Hearing was terminated. Unanimous vote. Moved by Councilwoman Cisneros, seconded by Councilman Rios, to approve Resolution No. 4595. Unanimous vote. RESOLUTION NO. 4595 - A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF COLTON APPROVING THE FINANCING OF A MULTI -FAMILY RENTAL HOUSING PROJECT. COMMUNITY SERVICES DIRECTOR'S REPORTS AND RECOMMENDATIONS! Water Division/Telemetry System Acting Community Services Director John Hutton reported on the pro- posed repair of the City's telemetry system which would help cut electrical costs during peak pumping hours of the City's water facilities, and possibly save 20 to 30 percent in energy costs by pumping during off peak hours. Mr. Hutton spoke about transferring funds from the Walnut Pressure Main Project to the existing Replace Telemetry System Project and, with the combined funds from both accounts, there would be suffi- cient funds for the Rialto/La Loma Telemetery System to be returned to proper operating conditions. Mr. Hutton concluded Staff recommends approval of Resolution No. 4597, transferring the necessary funds for the repairs needed, and authorize advertisement for bids for the Rialto/La Loma Telemetry System. Moved by Councilman Rios, seconded by Councilman Rehrer, authorizing Staff to advertise for Bids for the Rialto/La Loma Telemetry System. Unanimous vote. Moved by Councilwoman Cisneros, seconded by Councilman Rios, to ap- prove Resolution No. 4597. Unanimous vote. RESOLUTION NO. 4597 - RESOLUTION OF THE CITY COUNCIL OF THE CITY OF COLTON AMENDING THE 1984-85 FISCAL YEAR BUDGET. CITY MANAGER'S REPORTS AND RECOMMENDATIONS: Bonds/Financing Moved by Councilwoman Cisneros, seconded by Councilman Rios, to set for Public Hearing on Tuesday, May 21, 1985, TEFRA Hearing for Multi -Family Bond Financing, Mayer Group, Inc. Unanimous vote. Transfer of Funds/Insurance City Manager Elliott advised the City has been notified by Mr. Don Schlotter, from Calvert -Belden, the City's insurance broker, of the increased insurance premium costs for the excess public entity lia- bility insurance policy, which is now due and payable. Mr. Elliott said the estimated 1984-85 budget appropriation is not sufficient to meet the premium cost. Resolution No. 4597 will allow the City to make the proper budget transfer in order to pay the in- creased premium. Mr. Don Schlotter spoke to the City Council with regard to the in- creased premium costs, stating the City has become a victim, like so many other cities involved in the "Deep Pocket" lawsuits, which has caused a substantial increase in premium costs. Mr. Schlotter said that legislative reform may help somewhat with this ever-increasing problem. Mr. Schlotter then outlined the increased costs for liabil- ity coverage. City Manager Elliott said the question was if the City wants to stay with the present five million coverage, or increase that amount to ten million, which is recommended. MY7 4W%ft5