1997 SPE MIN DEC 29 - Laserfiche WebLink

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SPECIAL COUNCIL MEETING DECEMBER 29, 1997 A Special Meeting of the City Council of the City of Colton was held on the above given date in the Council Chambers of City Hall, located at 650 North La Cadena Drive, Colton, California, at 4:30 P. M., Mayor Gaytan presiding. Notice of Special Meeting was given on December 22, 1997, in compliance with Government Code Section 54956. FLAG SALUTE: Councilmember James Grimsby led the assembly in the Pledge of Allegiance. ROLL CALL: Present were Councilmember James B. Grimsby, Councilmember Betty L. Cook, Councilmember Kelly Chastain, Councilmember John C. Hutton, Councilmember Donald J. Sanders and Mayor Karl E. Gaytan. Also present were Interim City Manager Wood, Interim City Attorney Carvalho and Deputy City Clerk Delgado. Councilmember Deirdre H. Bennett was absent due to a previously arranged vacation to visit family in Canada. CITY MANAGER'S REPORTS AND RECOMMENDATIONS: SBIAA - Loan Agreement Colton resident Steve Anderson opposed approval of the loan based on the fact that the City was facing a budget deficit and there was no guarantee from the County that the monies would be returned to the City within 90 days. In investigating the question of the City's continued participation in the San Bernardino International Airport Authority, Interim City Manager Wood reported meeting with Airport Authority General Manager Monger, Airport Authority Chief Financial Officer Romeo and Airport Authority Counsel Sabo, specifically, to list direct benefits to the City, explore financing options and identify the City -member's liability to Airport Authority debt. In addition to information contained in his written report of December 22,1997, Interim City Manager Wood informed that under the terms of the loan agreement, the City, if it elected to retain membership, had to pay $500,000 as of December 31, 1997, plus it would commence payments for operation expenses at $11,000 per month in 1998. He cautioned that payment for the participating cities would increase to $600,000 if one of the three participants would default, as well as $13,000 per SpecMtg December 29, 1997