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60. MISCELLANEOUS <br /> <br />APPROPRIATION ADJUSTMENT NO. 165 - LEGAL FEES <br /> <br />MOTION: <br /> <br />Approve Appropriation Adjustment No. 165 transferring <br />$300,000.00 from ll-999-Unappropriated Reserve for <br />Econcmic Uncertainty to ll-031-City Attorney. <br />(Requires five affirmative votes.) <br /> <br />MOTION: Johnson <br /> <br />SECOND: Acosta <br /> <br />VOTE: <br /> <br />AYES: <br /> <br />NOES: <br />ABSENT: <br /> <br />Acosta, Griset, Hart, Johnson, Luxembourger, <br /> McGuigan, Young <br />None <br />None FILE 310.05 <br /> 400 <br /> <br />75. PUBLIC HEARINGS <br /> <br />POLICY STATEMENT CONCERNING ISSUANCE OF SINGLE FAMILY <br />MORTGAGE REVENUE BONDS <br /> <br />The Mayor opened the public hearing regarding the policy statement <br />concerning issuance of single family mortgage revenue bonds. <br /> <br />The Executive Director of Community Development and Housing <br />presented the staff report and recc~[aendations. <br /> <br />The Clerk of the Council reported no written communications. <br /> <br />There were no speakers. The Mayor closed the public hearing. <br /> <br />MOTION: 1) <br /> <br />Approve the City's Policy Statement concerning <br />issuance of single family mortgage revenue bonds <br />in compliance with Internal Revenue Section <br />103A(j)(5) for suh[nission to the Secretary of the <br />Treasury, and approve publication of a notice of <br />availability of the Report; and request staff to <br />utilize this type of revenue bond financing as <br />feasible to induce housing development in lower <br />socio-econemic neighborhoods. FILE 615.40 <br /> 621 <br /> <br />CITY COUNCIL MINUTES 93 MARCH 4, 1985 <br /> <br /> <br />