HomeMy WebLinkAbout1976-1012 rda_CCv0001.pdf MINUTES of an adjourned regular meeting of the Redevelop-
ment Agency of the City of Redlands held in the
Council Chambers, Safety Hall, 212 Brookside
Avenue, on October 12, 1976, at 2 .10 P.M.
PRESENT Charles G. DeMirjyn, Chairman
Chresten M. Knudsen, Vice Chairman
Ellsworth E. Miller, Member
Bertha Rose Grace, Member
Robert H. Mitchell, Acting Executive
Director
Edward F. Taylor, City Attorney
Peggy A. Moseley, Secretary
Erwin S . Hein, Redlands Daily Facts
Pat Sheeran, San Bernardino Sun
ABSENT Warren R. Elliott, Member
The minutes of the regular meeting of October 5,
1976, were approved as submitted.
Acting Director Mitchell informed the Members that
as the last bonds sold by the Redevelopment Agency
were sold at over 8% interest, it is possible that
refinancing at the present lower interest rate
would be a great advantage to the Agency, and re-
quested authorization to sign a contract with the
firm of Stone and Youngberg for such a service.
Mr. Mitchell presented the following motion: "Move
Contract approval of a contract between the Redevelopment
Bond Agency and the financial consulting firm of Stone
Refund
Program and Youngberg for the purpose of developing a pro-
gram leading to the timely issuance and sale of
bonds to refinance the existing indebtedness of
170
the Redevelopment Agency and thereby reduce the
Ammin interest costs . The Chairman of the Agency is
We-
authorized to sign the contract after a ' few
days ' delay for further study.
Dr. Miller so moved, seconded by Member Grace, and
this motion was approved by AYE votes of all pre-
sent.
There being no further business, the meeting ad-
journed, on motion.
Next regular meeting, October 19, 1976.
ATTEST:
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