HomeMy WebLinkAbout1977-0208 rda_CCv0001.pdf MINUTES of an adjourned regular meeting of the
rrn` Redevelopment Agency of the City of Redlands,
held in the Council Chambers, Safety Hall,
212 Brookside Avenue, on February 8, 1977,
at 2 :30 P.M.
PRESENT Charles G. DeMirjyn, Chairman
Chresten M. Knudsen, Vice Chairman
Bertha Rose Grace, Member
Warren R. Elliott, Member
Robert H. Mitchell, Executive Director
Edward F. Taylor, City Attorney
Peggy A. Moseley, Secretary
Pat Sheeran, San Bernardino Sun
ABSENT Ellsworth E. Miller, Member
The regular Redevelopment Agency meeting of
February 1, 1977 was adjourned to this time
and place for the purpose of accepting the
lowest qualified bid for the sale of 1977
Redlands Redevelopment Project Tax Allocation
ry Refunding Bonds.
BIDS
These bids were opened and publicly declared
in the office of the City Clerk at 11:00 A.M.
this date, as follows :
United California Bank as $4, 842, 664.43
Refunding agent for : 6. 2153°1
Bonds Goldman, Sachs & Co. & Associates
Smith Barney, Harris Upham & Co. $4, 854, 931.67
6. 231062%
Dean Witter & Co. $4, 372,694.77
6. 2538%
Merrill Lynch, Pierce, Fenner $4, 891, 067.00
& Smith 6. 277%
UMIC Municipal Investments $4, 936, 639.00
6. 335928°
It is the recommendation of Ed Hyland of Stone
& Youngberg, the Agency Financial Consultant,
that the low bid of Goldman, Sachs & Co. &
Associates be accepted as it carries the lowest
interest to the Agency. Mr. Mitchell painted
out that the original savings to be accrued by
the sale was developed with an anticipated 6.75°
interest, and that the present interest rate
would save an additional $200, 006.00.
On motion of Member Grace, seconded by Member
Resolution Knudsen, Resolution No. 156, a resolution of
No. 156 the Redevelopment Agency Selling 1977 Redlands
Sell Redevelopment Project Tax Allocation Refunding
Refunding
Bonds Bonds, was adopted by the following roll call
vote:
AYES . Members Knudsen, Grace, Elliott;
Chairman DeMirjyn
NOES : None
ABSENT : Member Miller
Mr. Mitchell brought a request from Mr. Parrish,
the Mall manager, to ascertain the members `
feelings about having Circus Vargas for two
or three days during the last week of March
Mall to celebrate the opening of the mall. In
Opening
discussing this, several apparent problems
developed: the overall image created, the
passibility of damage to the parking area,
landscaping, and improvements , etc. After a
considerable time, Member Knudsen moved to
approve this request, motion seconded by Member
Elliott, and failed by the following roll call
vote:
AYES : Members Knudsen and Elliott
NOES : Member Grace; Chairman. DeMirjyn
SE Member Miller
Mr. Knudsen announced that he had spoken as
a private citizen at the hearing relating to
the purchase or lease of the Stephens Hosiery
building, with the resulting removal of the
ANN-
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:.,} property from the tax roll.
.j
There being no further business, the Redevelop-
-U ment Agency adjourned, on motion, at 2 :55 P.M.
Next regular meeting, February 15, 1977.
ATTEST: '
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Secl ary -�Chairma of hedveOment Agency
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