HomeMy WebLinkAbout1/24/1984 - MINUTES i.l.1.�
CITY OF PALM ,SPRINGS
CITY COUNCIL` M MUTES
JANUARY 24, 1984
An Adjourned Regular Meeting of the City Council was called to order
by the Mayor, in the Large Conference Room, City Hall , 3200
Tahquitz-McCallum Way, on Tuesday, January 24, 1984, at 2:00 p.m.
ROLL CALL: Present: - Councilmembers Foster, Smith, Maryanov & Mayor
Bogert
Absent: None
LEGISLATIVE ACTION:
1 . A.D. 143 - SEWERS AND
2. A.D. 143 - EMINENT DOMAIN
City Manager suggested several possible dates for the Council
to consider scheduling the continued hearing on the eminent
domain proceedings, and the deliberation of the hearing on
the district; after which, it was moved by Maryanov, seconded
by Foster, and unanimously carried, that the eminent domain
hearing and deliberations on the district be continued to
Wednesday, February 15, 1984, at the Palm Springs High School
Auditorium.
In answer to question by Council , City Manager noted that
questions raised at the last hearing will be addressed by
Staff and answers provided prior to the hearing; and that
with regard to the issue of the State requirement and
circumstances surrounding it, he recommended Council hear
information from staff, representative from the Water Quality
Control Board, and other persons involved in the decisions
made at that time, at the next study session. So ordered.
3. WASTEWATER TREATMENT PLANT FINANCING - REFUNDING CERTIFICATES
OF PARTICIPATION
Recommendation: That the Council approve the sale of $20.6
million Refunding Certificates of Participation to Stone &
Youngberg, to refund the 1981 Palm Springs Public Facilities
Corporation Bonds.
Bill Huck, Stone & Youngberg, stated that the refunding
certificates will result in reducing the City' s rental in
excess of $2.6 million over the next 20 years ; that ads placed
locally have resulted in a good response and they were able
to reduce the interest rate; and that the insurance premium
will be the same percentage rate as it was three years ago,
resulting in additional savings.
Minute Order 3340, approving sale of $20.6 million refunding
certificates of participation to Stone & Youngberg, was
presented; after which, it was moved by Foster, seconded by
Maryanov, and unanimously carried, that Minute Order 3340
be adopted.
ADJOURNMENT
There being no further business, Mayor declared the meeting
adjourned to Tuesday, January 31 , 1984, at 2 p.m. , in the
Large Conference Room, City Hall
DITH SUMICH
City Clerk