Laserfiche WebLink
,%W <br />CITY COUNCIL <br />TOWN OF LOS ALTOS HILLS <br />26379 Fremont Road <br />Los Altos Hills, California <br />MINUTES OF AN ADJOURNED REGULAR MEETING <br />Wednesday, June 30, 1982 <br />cc: Reel 135, Side II, Tract I, 000 -End <br />Mayor Perkins called the Adjourned Regular Meeting of the City <br />Council to order at 9:35 a.m. in the Council Chambers of the Town Hall. <br />A. ROLL CALL AND PLEDGE OF ALLEGIANCE: <br />Present: Mayor Perkins and Councilmembers Allison, Hillestad, <br />Proft and van Tamelen <br />Absent: None <br />Staff: Acting City Manager <br />Carlson, Secretary <br />Press: Flo Pallakoff, Los <br />M.D. Tarshes, City Engineer John <br />Leslie Penfold <br />Altos Town Crier <br />Mayor Perkins requested to change the order of business on the <br />Agenda, with "New Business" as first item. Council were all in <br />concurrance. <br />Mr. Tarshes, Acting City Manager, began his review of a report <br />dated June 29, 1982 regarding Duties and Responsibilities of Acting <br />City Manager, which indicated a list of principal proiects in order <br />of priority. <br />As the first priority Mr. Tarshes gave a brief review of the Town's <br />present cash flow and indicated we are in need of Short Term Financ- <br />ing, which is not an uncommon occurance with cities and counties <br />at this time. Further noting, Mr. Tarshes indicated initial arrange- <br />ments have been made with the Law Firm of Jones, Hall, Hall and White, <br />(Bond Counsel) for a tax exempt certificate. <br />The second priority Mr. Tarshes indicated was Matadero Creek <br />Financing. Mr. Tarshes discussed the Palo Alto Unified School <br />District's requirement for payment to the District for reconveyance <br />fees and interest of all or most of the amounts received from <br />initial lot sales, with the remaining principal due to the District <br />by December 31, 1982. Mr. Tarshes noted a letter has been prepared <br />and will be delivered today to Dr. Newman Walker at the District, <br />outlining current information. Mr. Tarshes also noted alternate <br />re -financing is a possiblity to be explored, and recommended that <br />council may want to reconsider terms of sale after the July 7, 1982 <br />meeting. <br />As the third item of priority, Mr. Tarshes reported on the 1982/83 <br />Budget, informing council that after talking with Town staff regarding <br />revenue sources and with Sacramento not reaching any final action <br />yet and himself not being adequately familiar, Mr. Tarshes suggested <br />that he be given more time for review and possible revision and asked <br />council to defer consideration of the budget so he may submit a proposed <br />budget by July 26, 1982 with possible adoption in early August. <br />