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improvements (Maintenance, Safety /Liability, Tenant space, signage in the <br />amount of $3,800,000 pending completion of city -wide credit analysis <br />indicating the use of the Economic Investment funds would have no adverse <br />impact on the City's credit rating) was not seconded, thus vote not valid. <br />She noted for the record that she would not support use of reserve funds <br />to fill the gap if City's credit rating not approved. Opined that item should <br />have be agendized as a separate matter since not related to surplus <br />funding. <br />City Manager Cavazos, noted that proposed project would be funded with <br />Economic Uncertainty funds which is in excess of the reserve funds and <br />will proceed only if the credit analysis and credit necessity done, but not <br />part of the reserves. <br />Councilmember Benavides, asked if absent a second maker of a vote if it <br />invalidates the action. <br />City Attorney Carvalho, recommended bringing back the second half of <br />the item for a revote since it did not include a second on the motion or a <br />correction can also be noted for the record. <br />City Manager reported that there was no rush on the matter and be <br />brought back for reconsideration. <br />Mayor Pro Tern Sarmiento, requested clarification on any restrictions as <br />they related to funds above and beyond reserves. <br />Finance and Management Services Executive Director Gutierrez, <br />indicated that Economic Uncertainty Funds are over and above the 20% <br />General Reserve Funds; account set up in the event of economic <br />downturn; matter in question would require City Council approval in the <br />form of an appropriation adjustment. <br />City Attorney Carvalho, held that Economic Uncertainty Funds has a <br />policy; staff to outline process. <br />City Manager Cavazos, clarified that credit analysis to be completed in <br />January; will return to City Council for consideration. <br />MOTION: Reconsider Agenda Item 65A(c); approve Minutes with <br />correction. <br />MOTION: Sarmiento SECOND: Martinez <br />VOTE: AYES: Amezcua, Benavides, Martinez, Pulido, <br />Reyna, Tinajero, Sarmiento (7) <br />CITY COUNCIL MINUTES 6 NOVEMBER 3, 2015 <br />1 0A -6 <br />