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MINUTES OF THE RE(TJLAR MEETING <br />OF THE CITY COUNCIL OF THE CITY OF <br />SANTA ANA, CALIFORNIA <br /> <br />Monday, November 7, 1983 <br /> <br />The meeting was called to order at 1:11 p.m., in Room 147, City Council <br />Chambers, 22 Civic Center Plaza, by Vice Mayor Daniel E. Griset. <br />Councilmembers present were Cordon Bricken, P. Lee Johnson, Patricia A. <br />McGuigan, Dan Young, and Vice Mayor Griset. Also present were Interim City <br />Manager Rex Swanson, City Attorney Edward J. Cooper, and Clerk of the <br />Council Janice C. Guy, as well as members of the City's Executive Management <br />staff. <br /> <br />Councilmember John Acosta jo/ned the meeting at 1:18 p.m. Mayor R. W. <br />Luxembourger was absent. <br /> <br />WORK STUDY SESSION - ISDUSTRIAL DEVELOPMENT BOhD PROGRAM <br /> <br />The Economic Development Program Manager briefly explained industrial <br />development bond financing, noting that such bonds do not constitute a debt <br />of the City, but that the City's tax exempt status is used to increase the <br />yield to purchasers of such bonds and at the same time, to lower interest <br />rates for the borrower. He then discussed limitations being proposed at the <br />Federal level to restrict industrial development bond issuances, and <br />outlined the process and levels of authorization required before an <br />industrial development bond can be issued. The Program Manager then <br />reviewed Economic Development Corporation financing prograws currently in <br />operation, and responded to Councilmembers' questions. <br /> <br />Councilmembers discussed their concerns relative to the upcoming agenda. <br />Extensive discussion was held relative to agenda item No. 12A - the annual <br />independent audit for the City of Santa Ana. Mike Harrison, Conrad & <br />Associates, indicated his firm would be in agreement with an amendment to <br />the contract permitting award of the contract for one year, with review by <br />the Council at the end of that year. Councilmember Acosta expressed <br />disappointment that the procedures outlined in the Request for Proposal for <br />the audit had not been followed stringently. Vice Mayor Griset requested <br />that staff provide the Council with procedures at the November 21, 1983, <br />meeting relative to award of request for proposal contracts, which would <br />address adoption of the RFP, the evaluation method to be used, <br />reconmendation of the top three firms to the Council, and final selection of <br />contractor by the Council. <br /> <br />At 2:30 p.m., the Council recessed and reconvened in the Council Chambers at <br />2:42 p.m., with the same Councilmembers present. <br /> <br />PLEDGE OF ALLEGIANCE TO THE FLAG <br /> <br />INVOCATION - Councilmember Dan Young <br /> <br />CITY COt%~CIL MINUTES 332 NOVKMBER 7, 1983 <br /> <br /> <br />