HomeMy WebLinkAboutR18-Redevelopment Agency
AGENCY.....ST FOR o-ISSION/COUNCIL A~
From: Glenda Saul, Executive Director
0: Redevelopment Agency
Date: July 12, 1985
Subject: ADJOURN COUNCIL-COMMISSION MEETING
ON JULY 15, 1985 TO JULY 18, 1985
- AWARD BONDS FOR SEIP PROJECT
Synopsis of Previous Commission/Council ection:
07-01-85 Resolution 4774, 4775 and 85-253 adopted providing for the sale of $2
million Southeast Industrial Park bonds. Bids to be opened July 18, 1985
at 11:00 a.m.
Recommended motion:
(MAYOR AND COMMON COUNCIL)
o
a) MOVE TO ADJOURN CITY COUNCIL MEETING TO BE HELD IN MONTEREY, CALIFORNIA, ON
THURSDAY, JULY 18, 1985, IN THE LATE AFTERNOON TO AWARD THE BONDS FOR SOUTHEAST
INDUSTRIAL PARK.
(COMMUNITY DEVELOPMENT COMMISSION)
b) MOVE TO ADJOURN COMMUNITY DE'lELOPMENT COMMISSION MEETING TO BE HELD IN MONTEREY,
CALIFORNIA, ON THURSDAY, JULY 18, 1985, IN THE LATE AFTERNOON TO AWARD THE BONDS FOR
SOUTHEAST INDUSTRIAL PARK.
-~-' ~ ~
...,P'<~ ~
Signature
Contact person:
GLENDA SAUL
FUNDING REQUIREMENTS:
Amount: $
NIA
Phone: 383-5081
Ward: NIA
Project: NIA
Date: July 15, 1985
Supporting data attached:
YES
No edverse Impact on City:
~Cil Notes:
1227J/EB
Agenda Item No.
>~~/~
c.. .OF SAN BERNARD. - REQUQr FOR COUNCIL AC-QaN
o
o
o
75.0264
STAFF REPORT
The bids and awarding the contract for the Southeast Industrial Park refunding bonds
was set to take place on July 18, 1985. Staff subsequently learned there would not be
a quorum for the July 18th meeting because four Council members would be in Monterey,
California.
The award for the contract must be made within 24 hours after the bids are received.
On consultation with bond counsel and financial consultant, staff learned that the
bids could not be postponed because redevelopment law requires that bids be advertised
in a national publication (Bond Buyer) 15 days prior to accepting and awarding the
bids. If postponed, the award would need to be readvertised and could not take place
until 15 days after the next publication.
In consultation with bond counsel, financial consultant, City Attorney and City Clerk
staff proposes the following:
. The meeting could be adjourned and held at a set time in Monterey, California, to
award the contract. The City Attorriey'and bond counsel see no reason why a Council
meeting cannot be held at an outside location. The Ralph Brown Act provides for
meetings in outside locations.
. The City Clerk could appoint someone to attend if the Clerk is unable to attend.
For e:mmple, Mr. AI Briggs could attend and act as Deputy City Clerk.
. The Redevelopment Agency would provide the funds for the City Clerk or appointee to
be present in Monterey.
Bond counsel recommends that the resolutions adopted in Monterey come back to the
Council on July 22, 1985 (already scheduled as a budget workshop) for ratification.
l227J/EB
07-15-85