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amount of $3,800,000 pending completion of city-wide credit analysis indicating the use of the Economic Investment funds would have no adverse impact on the City's credit rating) was not seconded, thus vote not valid. She noted for the record that she would not support use of reserve funds to fill the gap if City's credit rating not approved. Opined that item should have be agendized as a separate matter since not related to surplus funding. City Manager Cavazos, noted that proposed project would be funded with Economic Uncertainty funds which is in excess of the reserve funds and will proceed only if the credit analysis and credit necessity done, but not part of the reserves. Councilmember Benavides, asked if absent a second maker of a vote if it invalidates the action. City Attorney Carvalho, recommended bringing back the second half of the item for a revote since it did not include a second on the motion or a correction can also be noted for the record. City Manager reported that there was no rush on the matter and be brought back for reconsideration. Mayor Pro Tern Sarmiento, requested clarification on any restrictions as they related to funds above and beyond reserves. Finance and Management Services Executive Director Gutierrez, indicated that Economic Uncertainty Funds are over and above the 20% General Reserve Funds; account set up in the event of economic downturn; matter in question would require City Council approval in the form of an appropriation adjustment. City Attorney Carvalho, held that Economic Uncertainty Funds has a policy; staff to outline process. City Manager Cavazos, clarified that credit analysis to be completed in January; will return to City Council for consideration. MOTION: Reconsider Agenda Item 65A(c); approve Minutes with correction. MOTION: Sarmiento SECOND: Martinez VOTE: AYES: Amezcua, Benavides, Martinez, Pulido, Reyna, Tinajero, Sarmiento (7) NOES: None (0) CITY COUNCIL MINUTES 6 NOVEMBER 3, 2015