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Home My WebLink AboutRDA MINUTES 1982 10 20 MINUTES OF AN ADJOURNED REGULAR MEETING · OF THE REDEVELOPMENT AGENCY OF THE CITY OF TUSTIN, CALIFORNIA OCTOBER 20, 1982 1. CALL TO ORDER The meeting was called to order by Chairman Edgar at 5:04 p.m. in the City Council Chambers, 300 Centennial Way, Tustin, California. "~ 2. ROLL CALL Agency Members Present: Edgar, Greinke, Hoesterey, Kennedy, Saltarelli Agency Members Absent: None Others Present: James G. Rourke, City Attorney William A. Huston, Exec. Director/City Manager Mary E. Wynn, Recording Secretary/City Clerk Mike Brotemarkle, Community Development Director Ronald Nault, Finance Director Roy Gonzales, Personnel Director Bob Ledendecker, Director of Public Works Norwood Williams, Police Captain R. Kenneth Fleagle, Consultant Approximately 20 in the audience 3. APPROVAL OF MINUTES It was moved by Hoesterey, seconded by Kennedy, to approve the minutes of the October 4, 1982, meeting. The motion carried 5-0. 4. APPROVAL OF DEMANDS It was moved by Kennedy, seconded by Hoesterey, to approve General Demands for the month of September, 1982, in the amount of $885,799.52 as recom- mended by the Director of Finance. Carried 5-0. 81 5. SUPPIEMENTAL BUDGET APPROPRIATION - EL CAMINO/MAIN STREET IMPROVE- MENTS As recommended in the report dated October 7, 1982, prepared by the Direc- tor of Public Works, it was moved by Saltarelli, seconded by Hoesterey, to authorize the supplemental appropriations for the E1 Camino Real/Main Street Improvement Project as follows: 1. ContraCt Administration - $1,458.00 2. Construction Inspection - $34,181.00 3. Construction Contract - $35,000.00 Mr. Greinke requested a breakdown on costs of appropriation to be provided at the next meeting for information purposes only. The motion carried 5-0. 95 In response to Chairman Edgar, the Director of Public Works provided a progress report on the project. 6. REDEVELOPMENT AGENCY ANNUAL REPORT FOR FISCAL YEAR 1981-82 PUrsuant to the recommendation' contained in the report dated October 8, 1982, prepared by the Executive Director, it was moved by Hoesterey, sec- onded by Greinke, to adopt the following resolution: RESOLdION NO. ROA 82-8 - A Resolution of the City of Tustin Redevelopmerit Agency APPROVING AND TRANSMITTING THE ANNUAL REPORT The motion carried 5-0. 81 7. REDEVELOPMENT AGENCY CHECK AND WARRANT PROCEDURES AS recommended in the report dated October 13, 1982, prepared by the Finance Director, it was moved by Saltarelli, seconded by Greinke, to adopt the following resolution: REDEVELOPMENT AGENCY MINUTES Page 2, 10-20-82 RESOLUTION NO. RDA 82-9 - A Resolution of the Board of Directors of the Tustin Community Redevelopment Agency PRESCRIBING CHECK AND WARRANT PRO- CEDURES Motion carried 5-0. 81 8. ISSUANCE AND SALE OF TAX ALLOCATION BONDS & 9. The Executive Director presented a brief staff report and introduced Mr. Michael F. Whipple, Vice President, Miller & Schroeder MunicipalS, Inc. In response to Mr. Saltarelli, the Executive Director clarified the word- ing on Resolution No. RDA 82-10, stating that by adoption of same, the Agency is authorizing bids on bonds subject to the terms and conditions of the resolution. Mr. Whipple responded to Agency concerns regarding insur- ance and interest rates, a 10-year call provision, advance refunding, the current market status, fixed redemption premium, and the effect of the election on market rates. Following a lengthy discussion period, it was moved by Greinke, seconded by Kennedy, to continue the matter to the eve- ning session. Carried 5-0. 81 RECESS - EXECUTIVE SESSION; EVENING At 5:43 p.m. it was moved by Saltarelli, seconded by Kennedy, to recess to a 7:30 p.m. Executive Session, and thence to the evening meeting. Carried 5-0. MlNUTES OF AN ADJOURNED REGULAR MEETING OF THE REDEVELOPMENT AGENCY October 20, 1982 CALL TO ORDER The meeting was reconvened by Chairman Edgar at 7:30 p.m. with all Agency members present and immediately recessed to an Executive Session. At 7:58 p.m. the meeting was called to order by Chairman Edgar. 2. ROLL CALL Agency Members Present: Edgar, Greinke, Hoesterey, Kennedy, Saltarelli Agency Members Absent: None Others Present: James G. Rourke, City Attorney William A. Huston, Exec. Director/City Manager Mary E. Wynn, Recording Secretary/City Clerk Mike Brotemarkle, Community Development Director Ronald Nault, Finance Director Roy Gonzales, Personnel Director Bob Ledendecker, Director of Public Works Norwood Williams, Police Captain Approximately 26 in the audience 8.RESOLUTION NO.RDA 82-10 - A Resolution of the Tustin Community Redevelop- ment Agency AUTHORIZING THE ISSUANCE OF $8,500,000 pRINCIPAL AMOUNT OF TUSTIN COMMUNITY REDEVELOPMENT AGENCY, TOWN CENTER AREA REDEVELOPMENT PROJECT, TAX ALLOCATION BONDS, SERIES 1982 It was moved by Kennedy, seconded by Edgar, to pass and adopt Resolution No. RDA 82-10. Carried 5-0. 81 9. RESOLUTION NO. RDA 82-11 - A Resolution of the Tustin Community Redevelop- ment Agency PROVIDING FOR THE SALE OF NOT TO EXCEED $8,500,000 PRINCIPAL AMOUNT OF TUSTIN COMMUNITY REDEVELOPMENT AGENCY, TOWN CENTER AREA REDEVEL- OPMENT PROJECT, TAX ALLOCATION BONDS, SERIES 1982 It was moved by Edgar, seconded by Kennedy, to pass and adopt Resolution No. RDA 82-1~. Carried 5-0. 81 Mr. Greinke qualified his vote, due to the problem of finding time to digest all of the information, but now feels he has received enough infor- mation in the last two days to support this. REDEVELOPMENT AGENCY MINUTES Page 3, 10-20-82 10, OTHER BUSINESS Mr · 8altarelli requested that the Financial Consultant advise the Finance Director who in turn will advise the Council of daily fluctu- ations in the bond market until the day of the bid. 11o ADJOUMNMEMT It was moved by Hoesterey, seconded b~ Greener, to adjourn at 8:07 p.m. to the next regular meeting on November 1, 1982. Carried 5-0.