HomeMy WebLinkAboutMinutes - City Council - unsigned - 1989-09-12 399
9/12/89
City Council, Adjourned Regular Meeting
City Hall Conference Room
City of Redding
September 12, 1989 5:30 p.m.
The Adjourned Regular Meeting of September 12, 1989, was called to
order by Mayor Carter with the following Council Members present:
Buffum, Dahl, and Carter. Council Members Fulton and Johannessen were
absent.
Also present were Planning Commissioners Anthis, Bosetti, Chapin,
Gelonek, Ogden, and Burrell.
Also present were City Manager Christofferson, Assistant City Manager
McMurry, City Attorney Hays, Electric Utility Director Lindley,
Planning and Community Development Director Perry, Finance Director
Downing, Senior Associate Planner King, Assistant Finance Director
Sundin-Gruber, Senior Assistant Planner Hanson, and City Clerk
Nichols.
RESOLUTION
- Converting the 1985 Electric System Project Financing to
a Fixed Rate Instrument
(E-090-160-220)
Electric Utility Director Lindley recalled that Council, during its
regular meeting of July 18, 1989, unanimously approved the preparation
of documents to convert the 1985 Electric System Project Financing
Floating Rate Weekly Demand Certificates of participation to a fixed
interest rate instrument.
Jim Gibbs, Shearson Lehman Hutton, stated that the fixed interest rate
will be less that 7.5%, it will create the capacity to use variable
rate debt in future electric system project financings; and improve
the terms of the debt. He estimated that the fixed interest rate will
average 7.06% - 7.16%. Mr. Gibbs outlined the terms of the
refinancing plan.
MOTION: Made by Council Member Dahl, seconded by Council Member
Buffum, that Resolution No. 89-310 be adopted, a resolution of the
City Council of the City of Redding approving the form and authorizing
the execution and delivery of an Amendment No. 1 to the 1985
Installment Purchase Contract (Series A), an Amendment No. 1 to the
1985 Installment Purchase Contract (Series B), an Amendment No. 1 to
the 1985 Trust Agreement, a 1989 Installment Sale Agreement, A trust
Agreement, an Official Statement, a Certificate Purchase Agreement,
and a Letter of Instructions and certain other actions in connection
therewith.
Voting was as follows:
Ayes: Council Members - Buffum, Dahl, and Carter
Noes: Council Members - None
Absent: Council Members - Fulton and Johannessen
Resolution No. 89-310 is on file in the office of the City Clerk.
PLANNING ISSUES
(A-050-060-350)
A joint meeting of the City Council and the Redding Planning
Commission was held to discuss the following subjects: architectural
review, university site, development fees, building height,
landscaping and tree preservation and replacement, and the Churn Creek
Bottom.
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9/12/89
After general discussion, Council asked staff to research the
prohibition of exterior-sided metal buildings in certain zoning
district and develop an Architectural Review Ordinance for the City at
gateway areas. Council also asked staff to prepare an ordinance
regarding the preservation of mature trees.
ADJOURNMENT
There being no further business, at the hour of 7:35 p.m., Mayor
Carter declared the meeting adjourned.
APPROVED:
__________________________________
Mayor
ATTEST:
___________________________________
City Clerk