HomeMy WebLinkAbout05/28/1985CITY COUNCIL MINUTES - TUESDAY, MAY 28, 1985 - 4:00 P.M. PAGE 2
City Staff
Present; Paul Lanspery, Administrative Officer; Roger Picquet, City
Attorney; Pamela Voges, City Clerk; Geoff Grote, Assistant
Administrative Officer; Toby Ross, Community Development
Director; Dave Romero, Public Works Director; Wayne
Peterson, City Engineer; Roberta Goddard, Finance Director;
Dave Ion, Systems Development Manager; Dave Elliott,
-------- - - - - -- Administrative Assistant
----------------------------------------------------
1. MULTIFAMILY BOND FINANCING (File #434)
Council considered a resolution to approve tax exempt bond financing for
multifamily rental housing located at 1045 Southwood Drive (Southwood
Apartments), in cooperation with the Housing Authority to comply with IRS
public hearing requirements (bond not to exceed $10,000,000); Smith,
Andrews and Piperato, applicants.
Roger Picquet, City Attorney, briefed the Council from the agenda report
stating that the recommended action was Council approval of the issuance
of the Housing Authority bonds and reminding them that they had already
held the necessary public hearing in January 1985 and this was simply to
adopt the resolution which was a technicality required by the bond
counsel.
Rich Cbubon, Executive Director of the Housing Authority, thanked the
Council for taking time on their agenda for this formal action and assured
them the City, State and Federal agencies would not be held liable for the
bonds.
1 On motion of Councilwoman Dove y, seconded by Councilman Griffin,
Resolution No. 5683 (1985 Series), a resolution of the Council of the City
of San Luis Obispo was adopted approving issuance not to exceed
$10,000,000 aggregate principal amount for multifamily housing revenue
bonds as recommended (4 -0, Councilman Settle absent).
2. 1985 -87 FINANCIAL PLAN REVIEW (File 233)
Council considered the City's Financial Plan for fiscal years 1985 -87 and
the Capital Facilities Plan and Capital Reinvestment Plan (CFP continued
from 12- 18 -84, 2 -19 -85 and 3- 5 -85).
Paul Lanspery, Administrative Officer, briefly reviewed the budget message
and a walk through the budget process.
Bobbie Goddard, Finance Director, reviewed the revenue projections.
Geoff Grote, Assistant Administrative Officer, reviewed the Capital
Facilities and Capital Reinvestment Plans.
Mayor Billig declared a recess at 6:15 p.m. At 6:30 p.m. City Council
reconvened, Vice -Mayor Settle absent.
Council then went through the budget summaries, revenues and capital
improvement programs reaching consensus as noted in the draft budget
document found in the City Clerk's Office.
There being no further business to come before the City Council, Mayor
Billig adjourned the meeting at 7:50 p.m /Monday, June 3, 1985, at
12:10 p.m. (Public Safety Budget).
ramele.. Voa;es, City Cle
APPROVED BY COUNCIL: 6 -18 -85 Pala Voges,