01/18/1984 - Laserfiche WebLink

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CITY COUNCIL MEETING - January 18, 1984 G. STAFF - REPORTS, CORRESPONDENCE AMID ANNXH NCEM]W S: 1. City Manager (continued) ,` d) Report on Radio Refinancing: The City Manager reported that she had received the letter from Bank of America concerning the details of the loan to pay off the present radio lease -purchase loan agreement. The City Manager stated that these terms needed to be discussed further with the Bank of America and she also wanted to reopen discussions with Motorola. Louise Dronkert, 27431 Black Mountain Road, asked what budget the funds would be taken from should the loan be pEd of and was advised that the monies would be taken from the unappropriated funds. Council discussed the terms of the loan as presented by Bank of America and the pros and cons of accepting these terns or continuing under the present loan while further discu Bions took place. MOTION MADE AMID SECONDED: Moved by Allison and seconded by Hillestad to direct the City Manager to pay the outstanding balance of the present Tum radio loan and to transfer funds for said payment from the unappropriated reserve. MOTION SECONDED AMID CARRIED: Moved by Proft, seconded by Hillestad and passed by the following roll call vote to call for the question. AYES: Councilmebers Allison, Hillestad, Perkins and Proft NOES: Mayor van Tamelen MOTION SECONDED AMID FA IM: Moved by Allison, seconded by Hillestad and failed by the following roll call vote to direct the City Manager to pay the outstanding balance of the present Tuan radio loan and to transfer funds for said payment from the unappropriated reserve. AYES: Councilmeobers Allison and Hillestad NOES: Councilnembers Perkins and Proft ABSTAIN: Mayor van Tamelen MOTION SECONDED AMID CARRIED: Moved by van Tamelen, seconded by Perkins and passed by the following roll call vote to reconsider the motion before Council concerning the payment of the outstanding balance of the present Tonin radio loan. AYES: Mayor van Tamelen and Councilmonbers Hillestad, Perkins and Proft NOES. Councilman Allison MOTION SECONDED AMID CARRIED: Moved by Allison, seconded by Hillestad and passed by the following roll call vote to authorize the City Manager to pay off the loan as soon as she felt it would be fiscally responsible, including the transfer of funds. AYES: Mayor van Tamelen and Councilmembers Allison, Hillestad and Perkins NOES: Councilman Proft e) Update on Rhus Ridge Dam The City Manager reported that a meeting had taken place which included the owners of the property in question, representatives of the Santa Clara Valley Water District and Town Hall Staff. Plans and options were being reviewed; the projected time of resolution of the matter was fiscal year 1984-85. -7-