Loading...
HomeMy WebLinkAbout06/06/1988, 8 - CAPITAL IMPROVEMENT BOARD ANNUAL MEETING 1`Iry�IN�ll�lllll^�II IIII MEETING GATE: city of san tuts osIspo 6-6-88 COUNCIL AGENDA REPORT ITEM NUMBER: From: Toby Ross, Assistant City Administrative Officer Subject: Capital Improvement Board Annual Meeting CAO Recommendation: Conduct annual meeting, and receive and file this report on the Capital Improvement Board Background; In 1986 the City issued bonds totaling $13.97 million to finance several capital improvements including the parking structures and the Madonna and Higuera Road widening projects. The City formed the Capital Improvement Board (CIB) to facilitate this financing. The by-laws establish the City Council as the CIB and require that the CIB meet at least annually. June 6 is scheduled as the annual meeting. The bond issue is divided into two components: $9.35 million for parking improvements; and $4.62 million for road improvements. Projects completed at least in part with bond proceeds include: Madonna Road widening and landscaping Laguna Park access road Madonna Road bridge widening Freeway interchange and signalization Palm Street parking structure Acquisition of the Recreation Department office. Projects for which the bond proceeds are committed include: Higuera Street widening South Street widening Marsh Street parking structure. The proceeds are expected to be fully expended in 1989 and the bonds will be fully repaid in the year 2006. Since there is no new business at this time, this annual meeting is a formality. However, we contemplate additional financing which may require the CIB to meet later this year. No action of the CIB is required now. TR:mp Attachments: Debt Service Schedule TOTAL DEBT SERVICE SCHEDULE FOR SAM LUIS OBISPO PROJECTS Suntory Debt Service Fr® 07/15/86 (1) (2) (3) (4) (5) DAU P.riminal Intarast IOLdl Annyal 12/01/86 505,494.21 505,494.21 06/01/87 110.000.00 548,126.25 658,126.25 1,163,620.46 12/01/87 545,513.75 545.513.75 06/01/88 115.000.00 545,513.75 660,513.75 1.206,027.50 12/01/88 542,351.25 542,351.25 06/01/89 385,000.00 542,351.25 927,i51.25 1.469,702.50 12/01/89 530,801.25 519,801.25 06/01/90 405,000.00 530,801.25 935,801.25 1.466,602.50 12/01/90 518,043.75 518,043.75 06/01/91 435,000.00 518,043.75 953,043.75 1,471,087.50 12/01/91 503.688.75 503,688.75 06/01/92 465,000.00 503,688.75 968,688.75 1.472,377.50 12/01/92 487,646.25 487,646.25 06/01/93 500,000.00 487,646.25 987,646.25 1.475.292.50 12/01/93 469,896.25 469,896.25 06/01/94 535,000.00 469.896.25 1.004,896.25 1,474,792.50 12/01/94 450.368.75 450,368.75 06/01/95 580,000.00 450,368.75 1,030,368.75 1,480,737.50 IZ/01/95 428.618.75 428.618.75 061'01/96 625,000.00 428.618.75 1,053.618.75 1.482,237.50 12/01/96 404.868.75 404,868.75 06/01/97 675,000.00 404,868.75 1,079,868.75 1,484,737.50 12/01/97 377,025.00 377,025.00 06/01/98 725,000.00 377,025.00 1,102,025.00 1,479,050.00 12/01/98 347,118.75 347,118.75 06/01/99 785.000.00 347,118.75 1,132.118.75 1.479,237.50 12/01/99 314,737.50 • 314,737.50 06/01/00 845,000:00 314,737.50 1,159.737.50 1.474,475.00 17./01/00 279,881.25 279,881.25 06/01/01 920,000.00 279,881.25 1.199.881.25 1.479.762.50 12/01/01 241,931.25 241.931.25 051,01/02 990,000.00 241,931.25 1,231,931.25 1.473.862.50 12/01/02 201,093.75 201.093.75 06/01/03 1,075.000.00 201.093.75 1,276,093.75 1.477,187.50 12/01/03 156.750.00 156,750.00 06/01/04 1,170,000.00 156.750.00 1.326,750.00 1.483,500.00 12/01/04 108,487.50 108.487.50 06/01/05 1,265,000.00 108,487.50 1,373,457.50 1.481,975.00 i2/01/05 56.306.25 56,306.25 06/01/06 1-365.000.00 56.306.25 1,421-306-25 1,477,612.50 Totals: 13,970,000.00 14.983,877.96 28.953.877.96 Less Accrued: 91.354.46 91.354.46 Net Cost: 14,892.523.50 28.862.523.50 Valuas From Dated Date: Average Interest Rate 8.088 gond Years. 185,256.722 Average Life 13.261 ML'~.MG AGEND GATE +�� 6 ee m5m 4/h�1.1 AGENDA6O /IG1 � ANNUAL WHALE ROCK COMMISSION MEETING A/ 8 (� WEDNESDAY, JUNE 15, 1988 ,Q HEARING ROOM, CITY HALL - 990 PALM STREET SAN LUIS OBISPO, CALIFORNIA 12:00 Noon Commissioners lunch at Golden China Restaurant 1085 Higuera Street, San Luis Obispo 1:30 P.M. Commissioners reconvene at City Hall, Hearing Room #9 990 Palm Street, San Luis Obispo ROLL CALL Introduction by Chairperson Gerard of new Commissioner, Mr. William Statler, Director of the City of San Luis Obispo's Finance Department. Commissioners: Ron Dunin, City of San Luis Obispo John Dunn, City of San Luis Obispo, Commission Secretary Doug Gerard, California Polytechnic State University, Commission Chair Carlos Madrid, California Department of Water Resources Carmen Salvato, California Men's Colony Bill Statler, City of San Luis Obispo -------------------------------------------------------------------------- PUBLIC COMMENT PERIOD (5 Minutes) The Whale Rock Commission will receive public comment on items of interest to the public within the Commission 's jurisdiction. As a general rule, action will not be taken on issues not listed on the agenda. Staff will generally be asked to follow up on such items at the discretion of the Chair. Written material is also encouraged. ACTION ITEMS 1. Minutes - Approval of draft minutes of the October 9, 1987 Meeting. 2. Election of Officers - Annual election of the Whale Rock Commission Chairperson and Secretary. 3. Annual Budget and Financial Statement - Review and approval of the annual Whale Rock Commission budget and financial statement. (Bill Hetland, Bill Statler) 4. Water Allocation and Operational Program - Authorization of water allocation and status report of Operational Program. (Bill Hetland, Hal Fones) f Y _ 5. Coastal Stream Diversion and Storage Project. Review of Phase II report. Recommendations to refer report •to member agencies for their review and comment. (Hal Fones) 6. Maintenance of Cayucos Area Water Organizations meters. Authorize Commission to perform maintenance on meters. (Barry Daffern) 7. Status of Cayucos Area Water Organizations Water Use. Review CAWO water consumption and consultants work on improving delivery system. (Barry Daffern and Bill Hetland) DISCUSSION ITEMS 1. Fish Stocking Program for Whale Rock Reservoir. Status report and proposed program for 1988-89. (Barry Daffern) r ���IIII II IIII I III II IIIIIII I I I city of sAn IUIS OBISPO 990 Palm Street/Post Office Box 8100 • San Luis Obispo, CA 93403.8100 (805) 549-7140 June 3, 1988 MEMORANDUM To: Honorable Mayor and Members of the City Council From: Vicki J. Finucane, Assistant City Attorney Subject: Closed Session (June 6, 1988) This memo is submitted pursuant to the provisions of the Brown Act. I recommend a closed session on June 6, 1988, to discuss the following: 1. Pending litigation - State of California, Regional Water Quality Control Board Central Coast Region, in the matter of the City of San Luis Obispo, Complaint No. 88-103. 2. Labor Relations - San Luis Obispo Police Association labor negotiations, (police units) . In The Superior Court of The State of California In and for the County of San Luis Obispo _ 72 22 qq �/J radio E C !� u " © 91.3, station KCPR FM J U iV 0 8 1988 APPEAL - REXAIL SIGN­ continued appealrOfgatdec sion AFFIDAVIT OF PUBLICATION by the Architectural Review CITY CLERK Commission to deny request SAN LUIS OBISPO.CA for a variance for freestand. -- ing pole sign at 717 Marsh Street (Rexall Drug) (30 min.) No. PROPOSED SUBDIVISION - GRAND AVENUE ..to coni- der a Community Develop. City Ment Director recommenda. tion to approve a tentative map for Minor Subdivision No. 88.21, creating four lots from four substandard lots requiring exceptions to the STATE OF CALIFORNIA, ) Subdivision Regulations at )} SS 285 Grand Avenue; R-1 County of San Luis Obispo zone(25 min.). I am a citizen of the United States and a resident of the o County aforesaid; I am over the age of eighteen and not interested in the above-entitled .__ matter— I am now, and at all times embraced 91' C C�— in the publication herein mentioned was, the principal clerk —� of the printers and publishers of the SAN LUIS OBISPO PROPOSED SUBDIVISION - ROYAL WAY --to consider a COUNTY TELEGRAM-TRIBUNE, a newspaper of general cir- Planning Commission recomtat - mendation to approve a ten- creat, map for,Tract 1439, culation, printed and published daily, Sundays excepted, at creating a 22-lot residential P P Y aY P subdivision located at 1901 Royal Way; R-1-S zone (25 the City of San Luis Obispo in the above named county and notice state; that s �y of which the annexed clipping is a true printed copy, was published in the above-named newspaper and not in any GI11 LIY11 ' supplement thereof — on the following dates, to-wit: TRACT 1439 5-28-88 APPEAL . 528 SOUTH STREET-to consider an ap. peal of an Architectural Re- ----- -- - -- view Commission decision to CITY COUNCILdeny modifications to the MONDAY,JUNp0 approved plans fora new V. UFM building at 526 South Street pap Y regularly The San Luis Obispo City windows, doors wood land around that said newspaper was dui and re ularl ascertainer established a newspaper of general circulation b I rags colnwMonda ill hold public hear- and to requires "belly band" g Y 1988, beginning June 6, between the lust and second 8 at ham- floors(20 min.) entered in the Superior Court of San Luis Obispo C M. in the Council Cham- ANNEXATION POLICIES P ers of City Hall, 990 Palm (GP3780) ..to consider State of California, on June 9, 1952, under the rovisi Street, on the items listed amending the Land Use Ele- Chapter 1, Division 7, Title 1 of the Government Code below. Hearings will be Ment and Water and Waste- heard in the order shown on water Element of the Gener- State of California. thine or fda or arin (ahemate al Plan concerning g annexation and monor annex- Phowa in parenthesis). The ation policies(25 min). I certify (or declare) under enol of a that ft public is welcome to attend 1988.89 BUDGET? _to penalty perjury and comment. The Council consider final adoption o1 the may also discuss other busi. City's 1988-89 Financial going is true and correct. ness items before or after Plan(20 min.). those items. Pam Voges,C The reports, including rec. Me�211988 Cledrv62647 be avaommeilable fordation reviewin he (Signature of Principe City Clerk's Department on the Friday before the meet- ing. For more information, Date 5-28-88 please contact the City _— Clerk's Department at 549- 7103 or visit us in Room q 1 of City Hall, 990 Palm Street. You may also listen to the meeting on Cal Poly Q: C CD �. o :r o• R ,C c I O