HomeMy WebLinkAboutCC MINUTES 1983 09 20 MINUTES OF AN ADJOURNED REGULAR MEETING
OF THE CITY COUNCIL OF THE
CITY OF TUSTIN, CALIFORNIA
September 20, 1983
I. CALL TO ORDER
The meeting was called to order by Mayor Hoesterey at 7:14 p.m. in
the City Council Chambers, 300 Centennial Way.
II. ROLL
CALL Councilpersons Present: Ronald B. Hoesterey, Mayor
Richard B. Edgar
Donald J. Saltarelli
Councilpersons Absent: Frank H. Greinke
Ursula E. Kennedy, Mayor Pro Tem
Others Present: William A. Huston, City Manager
Mary E. Wynn, City Clerk
Ronald A. Nault, Director of Finance
Ro~ een White, Dir. of Com. & Admin. Serv.
Edward Rybka of Mudge, Rose, Guthrie,
Alexander & Ferdon, Consultant
III. NEW BUSINESS
1. WATER BONDS
RESOLUTION NO. 83-71 - A Resolution of the City Council of the
City of Tustin READOPTING RESOLUTION NO. 83-58 AND RESOLUTION
NO. 83-59
It was moved by Edgar, seconded by Saltarelli, to pass and adopt
Resolution No. 83-71. Carried 3-0, Greinke and Kennedy absent.
RESOLUTION NO. 83-72 - A Resolution of the City Council of the
City of Tustin APPROVING AMENDMENTS TO THE BYLAWS OF CITY OF
TUSTIN WATER CORPORATION
It was moved by Edgar, seconded by Saltarelli, to pass and adopt
Resolution No. B3-72. Carried 3-0, GreinKe and Kennedy absent.
RESOLUTION NO. 83-73 - A Resolution of the City Council of the
City of Tustin APPROVING MERGER OF TUSTIN WATER WORKS CORPORATION
WITH CITY OF TUSTIN WATER CORPORATION
It was moved by Saltarelli, seconded by Edgar, to pass and adopt
Resolution No. 83-73. Carried 3-0, Greinke and Kennedy absent.
RESOLUTION NO. 83-74 - A Resolution of the City Council of the
City of Tustin, APPROVING THE PURPOSES AND ACTIVITIES OF CITY OF
TUSTIN WATER CORPORATION; APPROVING THE ISSUANCE OF $4,500,000
PRINCIPAL AMOUNT OF CITY OF TUSTIN WATER CORPORATION LEASE REVE-
NUE BONDS, SERIES A; AND AGREEING TO ACCEPT TITLE TO THE WATER
SYSTEM UPON PAYMENT OF SUCH BONDS
It ~s moved by Edgar, seconded by Saltarelli, to pass and adopt
Resolution NO. ~3-74. Carried 3-U, GreinKe and Kennedy absent.
Mr. Rybka explained that Bear Stearns & Company were low bidders
with the net interest rate at 9.256%. The bid came in $600,000
less than the estimate. The City has a very good credit
rating resulting from the way the City is managed. 107
IV. OTHER BUSINESS
1. The City Manager requested a Closed Session following the meeting
for discussion of personnel matters.
V. ADJOURNMENT
The meeting was adjourned at 7:25 p.m. by informal consent to the
next Adjourned Regular meeting on Wednesday, October 5, 1983, at 7:00
,C~ CLERKT MAYOR