HomeMy WebLinkAbout1978-0131 rda_CCv0001.pdf MINUTES of an adjourned regular meeting of the Redevelopment Agency
of the City of Redlands held in the Council Chambers, Safety
Hall, 212 Brookside Avenue, on January 31, 1978, at 3 :00 P.M.
I A-:
PRESENT Charles G. DeMiyjyn, Chairman
WE Chresten M. Knudsen, Vice Chairman
Ellsworth E. Miller, Member
Bertha Rose MacFarland, Member
Warren R. Elliott, Member
Robert H. Mitchell, Executive Director
Edward F. Taylor, City Attorney
Loretta C. Poyzer, Acting Secretary
Erwin S . Hein, Redlands Daily Facts
Mike Murphy, San Bernardino Sun
ABSENT None
Executive Director Mitchell reported to Agency members
that the bond attorneys have found a possible problem
involving the Internal Revenue Service in connection with
the refinancing of the Parking Lease Revenue Bonds, Series
B. It is possible that IRS will find the bonds to be in-
dustrial bonds and under new rules cannot be refunded nor
tax exempt. There would be an approximate three-month
delay until a determination can be made by IRS.
Yf Vice Chairman Knudsen moved the Agency submit a request to
IRS for a determination concerning refinancing of the
Parking Lease Revenue Bonds, Series B. Motion seconded
by Member MacFarland and carried unanimously.
v Mr. Mitchell briefly explained the possible impact the
Jarvis Initiative could have on the City if Approved by
the voters in the Tune election.
There being no further business, the Agency adjourned,
on motion, at 3 .10 P.M.
Next regular meeting, February 7, 1978.
yy k s
r r .
Chairman of � e R to
;{ y,_ � ? tA e g n Y
c
ATTEST: t
Se ary cting Secret
0-0-0-0-0-0-0-0-0