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HomeMy WebLinkAbout4.01 Approve 02-23-1988 Minutes ADJOURNED REGULAR MEETING - February 23, 1988 An adjourned regular meeting of the City Council of the City of Dublin was held on Tuesday, February 23, 1988, in the West Room of the Shannon Community Center. The meeting was called to order at 6: 43 p.m. , by Mayor Linda Jeffery. ROLL CALL PRESENT: Councilmembers Hegarty, Moffatt, Snyder, Vonheeder and Mayor Jeffery. STATUS REPORT ON 1987 GOALS & OBJECTIVES AND ESTABLISHMENT OF 1988 GOALS & OBJECTIVES City Manager Ambrose advised that each year the City Council establishes goals & objectives and reviews progress on items established during the prior year. This process provides direction for City Staff, the Council and Commissions as they work toward a common direction in accomplishing those objectives which are most important to our community. . Clear direction also helps Staff to prepare the proposed Financial Plan and Budget, as well as the Update to the Five-Year Capital Improvement Program. A status report was presented on the 1987 Goals & Objectives. In 1987, a total of 87 objectives .were incorporated into the Goals & Objectives Plan. Of these 87, 47 (54%) were completed or nearly completed. During 1987, a total of 41 objectives were added during the year with 25 ( 61%) being completed or nearly completed. A total of 30 Capital Equipment or Capital Projects were approved as part of the 1987-88 Annual Budget, with 3 being added during the first half of 1987-88. Of these 33 projects, the City is on schedule with 29 . The 1988 preliminary Goals & Objectives included those 1987 objectives which were either not completed during 1987, or which were completed and then expanded beyond their original scope; and those new objectives which City Staff felt deserve consideration. In .-addition to prioritizing, Staff identified whether or not adequate resources currently exist to accomplish each objective within the upcoming year. Program Area/Goal Objectives for Accomplishing Goal I. GENERAL GOVERNMENT A. Administration High (88) Civic Center a. Coordinate activities of Contractor, Architect, Construction Manager and City b. Select Phone System c. Select furniture d. Prepare plan for maintenance and operation of Civic Center facilities * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + CM-7-61 Adjourned Regular Meeting February 23, 1988 o. az' - J.., Program Area/Goal Objectives for Accomplishing Goal A. Administration (Cont'd) High (88) DSRSD Services Transfer a. Assume personnel support services to Fire JPA b. Complete transfer of real & personal property from District to City c. Complete transfer of cash, reserves and Proposition 4 Appropriation Limit from District to City d. Complete remaining agreements on liability, retirees, etc. High (85) Complete development of a Municipal Code High (87) Work with County & other public agencies on future of surplus property at Camp Parks High (87) Resolve sewer service problem for Arroyo Vista Medium (87) Reorganize Public Works Administration Medium (87) Coordinate Fireworks Advisory election Medium (85) Develop Business License Ordinance Medium (86) Conduct Council/Department Head team building retreat Medium (87) Monitor & report on Solid Waste Management Plan Medium (87) Develop employee recognition program Low (86) Investigate flextime staffing in Development Services Area B. Finance High (85) Review charges for services rendered by all departments High (87) Participate in Garbage Company rate increase proposal High (87) Develop financing plan for Civic Center 7. construction, including refinance of 1985 COPS High (88) Install Financial & Budgeting Data Processing Systems Medium (88) prepare report on Data Processing Systems for Recreation, Police & Development Services uses Medium (87) Develop program for ongoing internal control review Medium (88) Install City Clerk & Administrative Data Processing System Medium (88) Install Recreation Data Processing System & complete 10% installation of Development Services Data Processing uses C. Intergovernmental Relations Medium (85) Joint meeting with representatives from other agencies Medium (86) More aggressively monitor activities of other regional agencies CM-7-62 Adjourned Regular Meeting February 23, 1988 Program Area/Goal objectives for Accomplishing Goal D. Public Relations High (87) Distribute 1 community newsletter and 1 calendar Medium (86) Develop entry level brochure or video tape, etc., regarding the City for new businesses and residents The Council suggested that Staff contact Nancy Feeley related to information that the Chamber is putting together. Medium (86) Prepare report on program for recognition of outstanding development Medium (87) Community gift catalog The Council suggested that Staff develop a simple loose-leaf notebook that people can add things to as ideas come up. Medium (87) Student Government Day Low (88) Develop a slide presenttion promoting City recreation programs & parks & facilities E. Contract Administration High (88) Perform contract review for the following contracts: Building & Safety Engineering Animal Control Vector Control Public Works Maintenance Traffic Signal Maintenance Crossing Guards Police Services II. COMMUNITY DEVELOPMENT A. Planning High (88) Undertake Management Audit to evaluate need to streamline Planning Application process High (85) Undertake Downtown Improvement Implementation Strategies High (86) Site Development Review guidelines High (87) East Dublin (Dublin Ranch) General Plan Amendment Specific Plan Studies High (87) Hansen Ranch General Plan Amendment Study High (87) Blaylock/Gleason/Fletcher General Plan Amendment Study Medium (86) Develop environmental guidelines Medium (85) Revise Zoning Ordinance Medium (86) Develop annexation/fiscal impact review procedures Low (86) Report on historic element to General Plan CM-7-63 Adjourned Regular Meeting February 23, 1988 Program Area/Goal Objectives for Accomplishing Goai B. Building & Safety High (87) Negotiate residential fire sprinkler ordinance with development community High (88) Revise infraction procedures High (88) Complete follow-up enforcement of illegal and non-conforming signs Medium (88) Adopt building security ordinance in consultation with Police Department C. Engineering High (87) Update Dublin Boulevard planline, especially in the vicinity of San Ramon Road and Regional Street High (86) Develop-general transportation plan for extension of development to the west High (86) Develop general transportation plan for extension of development to the east High (87) Develop planline for road connecting Golden Gate Drive and Regional Street High (87) Develop planline for Dublin Boulevard easterly extension to Tassajara Road High (88) Prepare right-of-way dedication ordinance Medium (87) Participate in Non-Point -Source Water Pollution Program III. CULTURE AM LEISURE A. Recreation High (87) Initiate a volunteer program High (86) Complete renovation of Shannon Center, Phase I; Design Phase II High (86) Prepare report w/recommendations from Dublin Schools Facilities Improvement Task Force High (87) Develop a park & recreational facility maintenance program in cooperation w/Public 'Abrks Department High (87) Develop & implement comprehensive aquatics program at Valley Community Swim Center High (88) Initiate senior programs & services at Senior Center utilizing input from Senior Center Advisory Committee High (88) Develop park rules High (86) Determine new strategy for development of teen programs High (87) Complete revisions to Shannon Center facility use policy Medium (86) Complete renovation of Shannon Park Phase I Medium (87) Develop adult sports program Medium (88) Develop Senior Center facility use policy Medium (88) Conduct dedication ceremonies for newly constructed/renovated facilities Medium (86) Investigate opportunities for assisting in the promotion of historical & cultural activities in Dublin CM-7-64 Adjourned Regular Meeting February 23, 1988 Program Area/Goal Objectives for Accomplishing Goai IV. PUBLIC SAFETY A. Police High (87) Increase the scope of alcohol/drug awareness program to include all grades within Dublin Unified School District and private schools High (88) Draft procedures manual for holding cell facility in new Police facility High (88) Implement Sheriff's CAD System at Dublin Station High (88) Develop & implement program to recover costs associated with Police response to DUI cases Medium (87) Expand bicycle safety/education/enforcement program to include teens and adults Medium (87) Work in cooperation with Recreation Department to develop-an elderly assistance program Medium (87) Report & implement Secret Witness Program Medium (88) Develop tracking system of all traffic related complaints Medium (86) Work in cooperation with Planning Department to develop commercial lighting standards B. Animal Control High (86) Prepare report to City Council on long tern solution for animal shelter The Council suggested that Staff provide animal licensing forms to the local veterinary hospitals. High (88) Provide public with information on Vector Control C. Disaster Preparedness High (85) Complete Emergency Response Plan High (87) Hold disaster simulation exercise V. TRANSPORTATION A. Maintenance High (87) Maintain response to routine service requests at 2 days High (88) Assume maintenance responsibility for DSRSD parks & properties to be transferred Medium (86) Report to Council on street tree program Medium (87) Complete development of Public Works Maintenance procedures manual Medium (88) Study cost benefit of computerized irrigation system *** Medium (88) Implement three ccmnunity volunteer public works projects B. Transportation High (86) Resolve issue of downtown BART station High (87) Evaluate options for providing paratransit services for Fiscal Year 1988-89 High (87) Complete I-580 Improvement cost/benefit study CM-7-65 Adjourned Regular Meeting February 23, 1988 Program Area/Goal Objectives for Accomplishing Goal Transportation (Cont'd) High (87) Coordination of I-580 improvements with Pleasanton High (88) Report on feasibility of traffic impact fees High (87) BART Park & Ride Lot review and negotiations Medium (85) 4brk with LAWA to install bus shelters Medium (87) Report on ways to provide local matching funds for Measure B projects Medium (87) Report on County Transportation Plan Medium (87) Reassess the use of the San Ramon Branchline Medium (88) Develop Regional Transportation Plan The Council also identified the following project which should receive consideration in the Update to the Five-Year Capital Improvement Program. Passive Lighting & Benches along San Ramon Road. City Engineer Thompson advised that Phase III of this project will be going out to bid soon and Phase IV will go to bid next year. Bicycle lighting and benches will be included in these phases. ADJOURNMENT There being no further business to come before the Council, the meeting was adjourned at 9 :15 p.m. , to a special adjourned regular meeting of the Council being held on Tuesday, March 1, 1988, 7 : 30 p.m. , Dublin Library. Mayor ATTEST: City Clerk CM-7-66 Adjourned Regular Meeting February 23, 1988 ADJOURNED REGULAR MEETING - March 1, 1988 An adjourned regular meeting of the City Council of the City of Dublin -aas held on Tuesday, March 1, 1988, in the meeting room of the Dublin Library. The meeting was called to order at 7 : 37 p.m. by Mayor Linda Jeffery. ROLL CALL PRESENT: Councilmembers Hegarty, Moffatt, Snyder, Vonheeder and Mayor Jeffery. PLEDGE OF ALLEGIANCE The Mayor led the Council, Staff and those present in the pledge of alle- giance to the flag. CONSENT CALENDAR On motion of Cm. Vonheeder, seconded by Cm. Moffatt, and by unanimous vote, the Council took the following actions : Approved Minutes of Regular Meetings of February 8, 1988 and February 22, 1988; Authorized attendance of the Planning Director at American Planning Association (APA) National Planning Conference, in San Antonio, Texas, April 30-May 4, 1988; Received a report on the 1988 St. Patrick ' s Day Celebration, with festivities planned for Saturday, March 19th; Accepted improvements under Contract 86-2, Amador Valley Boulevard rehabilitation, and authorized release of securities in lieu of retention; Authorized Staff to advertise Contract 88-2, Dolan Park Improvements Phase II , for bids ; Rejected the bids received for soundwalls for east side of San Ramon Road, Amador Valley Boulevard between Village Parkway and Stagecoach Road and Arroyo Vista and authorized Staff to readvertise project with modifications to attempt to obtain a more competitive bid. @%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@% CM-7-67 Adjourned Regular Meeting March 1, 1988 ABAG SPRING GENERAL ASSEMBLY - DESIGNATION OF VOTING DELEGATE On Friday, March 25, 1988, the Association of Bay Area Governments (ABAG) , will be holding its Spring General Assembly. ABAG has requested that the City designate a voting delegate and alternate for the City of Dublin. Presently, Councilmember Moffatt is the City' s official delegate representative and Mayor Jeffery is the City' s alternate. The Council discussed the City ' s current delegates and by a consensus, agreed to retain the existing appointments . Cm. Moffatt indicated he would be attending the March 25th meeting. Mayor Jeffery indicated that she would not be able to attend as an alternate . PUBLIC HEARING ORDINANCE RELATING TO PROPERTY MAINTENANCE Mayor Jeffery opened the public hearing. Chief Building Official Taugher advised that on February 22, 1988, the Council held a public hearing on this item and requested that a revision be made to state that "Property" shall mean all non-residentially zoned real property and all residential real property. Cm. Moffatt indicated he had questions related to the minutes covering this particular item at the February 8th and February 22 meetings . He was unclear on how the minutes reflected what the Council had voted upon at the February 22nd meeting. He questioned why the word "unimproved" was taken out. He felt there was an inconsistency between the way the ordinance read and what the minutes stated. City Manager Ambrose indicated that it was Staff ' s understanding that the action the Council took at its February 22nd meeting was to have the ordinance cover all non-residential (commercial ) property as well as residential property. Previously, the ordinance was drafted to cover only unimproved non-residential and all residential property. Then, because of the concerns raised relating to the City' s inability to deal with certain situations of high and unsightly weeds on a commercial property which would have been exempted from the ordinance, the Council agreed to include commercial property under the ordinance. Mayor Jeffery felt this could be covered outside of the public hearing. No comments were made by members of the public related to this item. ?Mayor Jeffery closed the public hearing. On motion of Cm. Hegarty, seconded by Cm. Vonheeder, and by unanimous vote, the Council waived the reading and adopted ORDINANCE NO. 7 - 88 RELATING TO PROPERTY MAINTENANCE @%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@% CM-7-68 Adjourned Regular Meeting March 1, 1988 Cm. Snyder stated that as the maker of the motion which re-introduced the ordinance, he felt that if you read back one page in the minutes to page 50, it was clear as to what the changes were . If you follow the discussion all the way through, the motion is clear. Cm. Vonheeder agreed. On motion of Cm. Hegarty, seconded by Cm. Vonheeder, and by unanimous vote, the Council directed the City Clerk to clarify the wording to reflect the actual change in the minutes of the February 22 , 1988 meeting, Page CM-7-51 to state that the property maintenance ordinance shall relate to non- residential and residential property. Roy Moret apologized for arriving late to the meeting and stated he was present representing the Chamber of Commerce . _Xr. Moret requested that he be able to speak related to the affects that this ordinance will now have on Chamber members, due to the inclusion of commercial properties . Mayor Jeffery indicated that the public hearing had already been closed and the Ordinance adopted and suggested that Mr. Moret submit his comments in writing to the City. SHELL STATION DRIVE67AY REPORT (DUBLIN BOULEVARD @ SAN RAMON ROAD) City Engineer Thompson explained that in 1983, Mr. Maghsoudi , the Shell Station operator, requested that the City allow a driveway directly onto San Ramon Road just south of Dublin Boulevard. The Council directed Mr. Maghsoudi to have Shell Oil, the property owner, provide a written request . Shell Oil submitted the written request, which was reviewed at the City Council meeting of October 10, 1983 . DKS Associates was hired by Shell Oil to do a traffic study, design the 'improvements, and coordinate the permit process . In June 1984, Staff prepared an agreement for the improvements to the southwest corner of San Ramon Road and Dublin Boulevard. The agreement was approved by the City Council on September 10, 1984 . DRS and Shell Oil negotiated off and on with Caltrans for some time for the repurchase of abutter ' s rights and for an encroachment permit. In June of 1986, City Staff received preliminary plans for improvements to the intersection . In July of 1987, Caltrans approved the plans, and in August, issued the necessary encroachment permit. City Staff received intermittent plan submittals, approved the plans , and issued an encroachment permit in July, 1987. The project just recently resurfaced, and the contractor is ready to proceed. City Engineer Thompson advised that an on-site preconstruction meeting was held on February 24 , 1988 with representatives of Shell ' s contractor, Caltrans and City inspection staff . The schedule calls for construction to begin on March 7th, with work in the street area to be completed in approximately 6 weeks . The landscaping, irrigation and sidewalk work will be finished about a month thereafter . The State has extended their permit to allow Shell to do the work. @%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@% CM-7-69 Adjourned Regular Meeting March 1, 1988 Cm. Snyder indicated that this was originally considered because of safety reasons related to large tanker trucks making this turn. Cm. Hegarty stated that the City made it very apparent to Shell Oil several years ago that if this is not workable, then they will have to go back and redo it at their expense . Mayor Jeffery thanked Staff for the report and indicated that no action was required. VALLEY COMMUNITY SWIM CENTER - EARLY OPENING At its February 8th meeting, the Council considered a request from the Principal of Dublin High School to utilize the Valley Community Swim Center for the DHS Swim Team. The Council directed Staff to negotiate an agreement with the Dublin San Ramon Services District which would allow the City to operate the Swim Center prior to June 1, 1988. The purpose of this change was to provide a training facility for the Dublin High School Swim Team. The City would be responsible for the costs associated with this service . On February 16, 1988, the DSRSD Board of Directors, at its meeting, indicated a willingness to work with the City to make the pool available for use by Dublin High School . An agreement was prepared which provides that the District would make the pool available to the City from March 1, 1988 through June 30, 1988. The pool would be available to the City for a base budget of $27, 000 . Recreation Director Lowart explained that City Staff is working with the Dublin High School Principal, Swim Coach and the Swim Team Parent Booster Club to develop an agreement between the City and the School District which will outline the responsibilities of each respective party. A draft agreement will be submitted to the Council for approval at the Council meeting of March 14, 1988. The agreement will then be forwarded to the Amador Valley Joint Union High School District Board for approval at its meeting of March 16, 1988. DSRSD anticipates that the pool will be ready for use by March 7th; however, the Swim Team will not be able to utilize the pool until both the City and AVJUHSD approve the agreement. On motion of Cm. Hegarty, seconded by Cm. Vonheeder, and by unanimous vote, the Council adopted RESOLUTION NO. 33 - 88 APPROVING AND AUTHORIZING EXECUTION OF AGREEMENT WITH THE DUBLIN SAN RAMON SERVICES DISTRICT FOR USE OF THE VALLEY COMMUNITY SWIM CENTER and directed Staff to develop an agreement between the City and AVJUHSD and authorized the transfer of $27, 000 from the Contingent Reserve. @%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@% CM-7-70 Adjourned Regular Meeting March 1, 1988 1988-89 COMMUNITY DEVELOPMENT BLOCK GRANT (CDBG) PROGRAM The preliminary estimate for 1988-89 CDBG project funds for Dublin is approximately $41, 300, reflecting close to a 30% reduction in federal funds from last year. The City may apply for funding of public improvement projects and 'housing projects . A minimum of 28% of project funds must be used for housing projects , leaving a maximum of 72% for public improvement projects . As the City has done in the past, the City may apply the general administration funds to a specific project. The City may also apply for an advance from future CDBG program funds with the stipulation that the Cite will return the advanced funds to the Urban County if sufficient CDBG funds are not received. Staff recommended that the City Council appLyz for funding of the Arroyo Vista Soundwall proposal , with $25, 200 in project funds plus $6, 300 in general administration funds and a $63, 000 advance from anticipated 1990-91 and 1991-92 CDBG funds, for a total of approximately $94, 500. This would leave a balance of approximately $9, 800 from the 1988-89 CDBG program for housing projects . 6Jith such a relatively small amount available, Staff recommended that the Council apply for funding of the Housing Rehabilitation proposal, with approximately $9, 800 project. funds . If approved, the Alameda County Housing and Community Development Staff will continue to emphasize and promote exterior painting. Cm. Snyder questioned if. anyone had applied for rehabilitation project money. He questioned further if individuals come to the City of Dublin to get an application. Planning Director Tong responded that between 2 & 3 rehabilitation jobs are completed in Dublin each year . Individuals can apply to the City or they can go directly to the County. Mayor Jeffery thought Dublin had advertised this program in its last Newsletter and requested that it be put in future Newsletters as well. On motion of Cm. Snyder, seconded by Cm. Hegarty, and by unanimous vote, the Council directed Staff to apply for CDBG funding: 1 ) for Public Improvement Project, Arroyo Vista Soundwall proposal ( $31, 500 plus $63, 000 advance) ; and 2 ) for Housing Projects , Housing Rehabilitation proposal (approx. $9, 800 ) . MID-YEAR FINANCIAL REVIEW - FISCAL YEAR 1987-88 A detailed report was prepared and presented to the Council . Finance Director Molina advised that total revenues are expected to be $112, 290 less than originally anticipated. However, Staff anticipates that with respect to Operational Revenues , the City will receive only $44, 000 less than projected in the Budget. Total expenditures are expected to be $1, 052, 847 less than budgeted. This large decrease in expenditures is due to 1 ) operational expenditures are expected to be $118, 680 smaller than budgeted; and 2) the Capital Improvements expenditure is also expected to be smaller than budgeted by $934 , 167 . @%@%@%@%@.%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@% CM-7-71 Adjourned Regular Meeting March 1, 1988 Staff anticipates an operating surplus of approximately $74 , 000 and a real savings on 3 Capital projects of $65, 400 . Therefore, the City should realize $139, 400 more in surplus at the end of the year than originally estimated in June, 1987 . With respect to reserves, the original adopted budget identifies using $4, 607, 714 of reserves, but the current expectation shows a smaller need of reserves totalling $3, 667, 175. This is a decrease of $940, 557 in the use of reserves . The City will still remain under its appropriation limits . Following a review of the report, on motion of Cm. Vonheeder, seconded by Cm. Hegarty, and by unanimous vote, the Council approved a Budget Change Form in the amount of $49, 300 . 1988 CIVIC CENTER CERTIFICATES OF " PARTICIPATION REFINANCING & NEW •1O1EY ISSUE City I:anager Ambrose introduced I-L-. Chick Adams from Jones Hall Hill & White (Bond Counsel ) and Mr. Grant Hamill from Rauscher Pierce Refsnes, Inc . , the City ' s Underwriter. Mr. Ambrose explained that in September, 1987, the Council approved the selection of an Underwriter to evaluate the feasibility of refinancing the 1985 Certificate of Participation (COP) issue. The Underwriter and Bond Counsel have prepared documents which would refinance the 1985 Issue and raise additional funds to meet the construction expenses as approved by the Council in the award of bid. Mr. Ambrose advised that the 1988 legal documents will change the relation- ship of the City and Dublin Information, Inc . , through an assignment of Dublin Information, Inc . , responsibilities to the Bank of • California as the new Trustee. The Bank of California will control all funds with the exception of the 1985 and 1988 construction funds which the City will control . It is financially advantageous for the City to refinance the 1985 COP Issue and realize a present value savings of $341, 284 . Further, due to the low interest rates, approximately 7 . 50%, and the need to raise new funds for the Civic Center project, it is financially prudent for the City to go to market at this time and issue the 1988 Certificates of Participation to raise the balance of the funds . This interest rate will fluctuate either up or down slightly between now and next week. Mr. Ambrose stated that it was anticipated that the issue will close sometime next week. Cm. Hegarty questioned the amount ( $341, 284 ) of the anticipated savings to the City by refinancing. He felt that this amount seemed low in view of the fact that we ' re talking about a $17 million issue with a 2% drop in the interest rate . He indicated he thought the savings would be more. City Manager Ambrose advised that there are additional costs of issuance, plus legal fees, underwriter ' s discount, printing costs, etc. , in order to cover the refinancing, all of which eats into the savings . @%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@% CM-7-72 Adjourned Regular Meeting March 1, 1988 Cm. Snyder questioned if the interest figure on the reserves is firm or will it be adjusted up or down. Mr . Ambrose stated that this number is limited by the new IRS Regulations . We cannot earn more on those reserve investments than the average coupon rate we have on the Certificates . So, basically what the City will want to do is set this up so that we max this out. If we earn more, we have to pay back the difference to the Federal Government as arbitrage. We must do an arbitrage calculation every year anyway. Mr. Hamill will work toward setting up an investment that gets it almost right on the nose, or will get investments that pay more and we will just have to rebate those earnings. Cm. Snyder questioned if there was any chance this law would change in the future. Mr. Adams indicated that right now.—there is no proposal before Congress to repeal this , and he felt that with the deficit problem no one is anxious to put forth a proposal . Mr . Ambrose stated that there are some funds that are subject to this provision and other funds that are not. The proceeds from the 1985 Issue are set up in a separate construction fund and are not subject to the 7. 50% limitation. The documents are set up such that the City has two project construction funds ; one from the 1985 Issue and one from the 1988 Issue. Our plan is to spend the proceeds from the 1988 Issue first and use the 1985 Issue funds at the end of the project so we can maximize our interest earnings off those proceeds . Mr . Adams stated that Federal Tax Law permits you to keep the arbitrage earnings if you reinvest in Municipal Bonds . Mr. Ambrose pointed out that this presents a different structure than what the Council approved during the 1985 COP Issue . Dublin Information, Inc . ' s role is minimized in terms of the Trustee relationship to the City. The Bank of California will be the Trustee and they will actually control the escrow funds and reserve funds in terms of investments . Cm. Hegarty stated he was very disappointed that members of the public don 't show up at meetings when decisions such as this are made. This decision will affect Dublin residents for many many years to come . On motion of Cm. Hegarty, seconded by Cm. Vonheeder, and by unanimous vote, the Council adopted RESOLUTION NO. 34 - 88 APPROVING AMENDMENT OF LEASE AGREEMENT WITH DUBLIN INFORMATION, INC. , APPROVING FORM OF TRUST AGREEMENT, APPROVING FORM OF OFFICIAL STATEMENT AND SALE OF NOT TO EXCEED $17, 500, 000 1988 REFUNDING CERTIFICATES OF PARTICIPATION, AND APPROVING RELATED DOCUMENTS AND OFFICIAL ACTION and authorized the City Manager to make any required revisions prior to closing and authorized the Mayor to execute all documents at closing. @%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@% Chi-7-73 Adjourned Regular Meeting March 1, 1988 r OTHER BUSINESS Library Conference Cm. Hegarty questioned if the City had received a letter from Ginnie Cooper, Alameda County Librarian with regard to sending the member at-large to the Library conference . City Manager Ambrose indicated that the City had not received any correspondence related to this . Brian Boitano Mayor Jeffery advised the Council that it looked like the Council would not be meeting with Brian Boitano on Friday as had been tentatively Planned. The latest she had heard, it looked like Thursday, March 10th, at 10 : 00 a.m. , would be the time for the presentation. BART Hearings Cm. Snyder . indicated that he had Planned to attend the BART 'rearing on Wednesday evening, March 2nd, but according to an article in The Herald there was going to be a meeting also on March 8th in the Pleasanton City Council Chambers . He stated he would be out of the Country and unable to attend and Cm. Moffatt indicated he would attend -the meeting. Mayor Jeffery suggested that the City Staff write out a statement and send it to Livermore, Pleasanton and also LAVTA. Dublin wants to make certain that BART' s proposed line is capable of picking up those individuals released from Santa Rita. City Manager Ambrose indicated that Staff would prepare a letter. ADJOURNMENT There being no further business to come before the Council, the meeting was adjourned at 8 : 43 p.m. Mayor ATTEST: City Clerk @%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@%@% CSI-7-74 Adjourned Regular Meeting March 1, 1988