82-0525_CC_Minutes_Adjourned Regular Meeting249'
MAY 25, 1982
ADJOURNED REGULAR MEETING OF THE CITY COUNCIL
OF THE CITY OF SAN JUAN CAPISTRANO, CALIFORNIA
The Adjourned Regular Meeting of the City Council of the City of
San Juan Capistrano, California, was called to order by Mayor
Buchheim at 7:07 p.m., in the City Council Chamber.
ROLL CALL PRESENT: Lawrence F. Buchheim, Mayor
Kenneth E. Friess, Councilman
Phillip R. Schwartze, Councilman
ABSENT: Anthony L. Bland, Mayor pro tem
Gary L. Hausdorfer, Councilman
STAFF PRESENT: Stephen B. Julian, City Manager; E. Phillip Hale,
Assistant City Manager/Director of Administrative Services;
James S. Okazaki, City Attorney; Cheryl Johnson, Deputy City Clerk/
Recording Secretary.
FINANCING PROPOSAL- SAN JUAN CAPISTRANO LIBRARY
(52) Mayor Buchheim advised that the purpose of the meeting was
to discuss proposed financing of the San Juan Capistrano
Library.
Written Communications:
Report dated May 25, 1982, from the City Manager, regarding
the status of the proposed financing, and forwarding a letter
dated May 25, 1982, from Birr, Wilson & Company, Inc., setting
forth a compilation of the various aspects of the financing.
The City Manager advised that the report had been previously
discussed with Councilman Bland, who had indicated his
concurrence with the approach set forth in the report.
The City Manager advised that pursuant to the proposed
financing approach, the County would contribute $800,000
toward the library building, with the City appropriating
$200,000; the auditorium, pool area and additional improvements
would be financed by Certificates of Participation. He defined
the areas of responsibility between the County and City and
noted that the County was favorable to the approach. Further
discussion included the terms and interest rates associated
with the bonds and City accounts from which funds might be
appropriated. It was further noted that should the Council
concur with the approach, the City Manager would be required
to attend a meeting on June 2 at the New York offices of
Moody's Bonding Service to obtain bond ratings.
-1- 5/25/82
251
Authorization to Proceed:
It was moved by Councilman Friess, seconded by Councilman
Schwartze and unanimously carried to direct staff to
proceed with the funding approach, to prepare the necessary
legal documents, and to finalize negotiations with the
County of Orange.
ADJOURNMENT
Ther—� no further business before the Council, the meeting
was adjourned at 7:17 p.m., to the next regular meeting date of
Tuesday, June 1, 1982, at 7:00 p.m., in the City Council Chamber.
ATTEST:
:cNCE F. B56AREI�•
Respectfully submitted,
MARY ANN HANOVER, CITY CLERK
0;11W, i� iw')G
- •- %moi - • • • - -
—2— 5/25/82