HomeMy WebLinkAboutMinutes 1985-04-10Chairman Richard A. Haffey
Boardmembers:
Roberta Cerri Teglia
Mark N. Addiego
Emanuele N. Damonte
Gus Nicol opulos
AGENDA
CALL TO ORDER: (Cassette No. 1)
ROLL CALL:
AGENDA REVIEW
AGENDA
1. Approval of the Minutes of the
Special Meeting of 11/28/84.
2. Financial report by the Director of
Finance
M I N U T E S 0~)~)0~i
Industrial Development Authority
Municipal Services Building
Community Room
April 10, 1985
ACTION TAKEN
7:20 p.m. Chairman Pro Tem Teglia presi-
ding:
Boardmembers present: Nicolopulos,
Addiego, Teglia,
Damonte.
Boardmembers absent: Haffey.
AGENDA REVIEW
City Manager Birkelo stated that he had
nothing to add to the Agenda.
AGENDA
M/S Addiego/Damonte - To approve the
Minutes of the Special Meeting of
11/28/84.
Director of Finance Lipton stated that in
May of 1984 the City began proceedings to
issue $7,000,000 in Industrial
Development Bonds on behalf of Mercedez
Benz of No. America located east of the
101. He continued, during this time the
California Debt Limit Allocation Limit
Committee was formed and began analzing
the many, many millions of dollars of
issuances in the State of California and
set guidelines and maximums for each
individual entity. He stated that the
City's 1984 allocation was slightly more
than 21/2 million dollars and as it turned
out Mercedez Benz was able to sell
$3,000,000 of Industrial Development
Bonds, which this took place on December
7th. He stated that the City incurred
known expenses with regard to the
issuance of which Mercedes Benz paid for
all of the legal fees, printing of the
bonds and other items as part of the
negotiated fee. He stated that the City
received one-quarter of one percent of
the sale which amounted to $7,100.00. He
stated that Staff did not keep track of
4/10/85
Page I
AGENDA ACTION TAKEN
2. Financial report- Continued.
their time as had been done for the
Redevelopment Agency but that the money
received covered 250 staff hours and
that no where near that amount of time
had been expended, etc.
GOOD AND WELFARE
GOOD AND WELFARE
Mr. Lawrence Pera, 758 Baden Ave., spoke
of teenagers trying to pull tricks on him
by taking his good ducks and leaving the
others.
Mayor Pro Tem Teglia stated that this was
not the City Council meeting, however if
Mr. Pera would wait for five minutes that
meeting would begin and he could address
the City Council.
M/S Damonte/Addiego - To adjourn the
meeting.
Carried by unanimous voice vote.
ADJOURNMENT:
The meeting was adjourned at 7:23 p.m.
RESPECTFULLY SUBMITTED:
APPROVED:
~ara~A. B~ttaya, Clerk~
I ndu stri al Devel opmen t Au thori ty
City of South San Francisco
Richard A. ~affey,~
Industrial Developm:n'
City of South San
/
rman
Au thori ty
:i SCO
The entries of this Industrial Development Authority meeting show the action taken by the
Authority to dispose of an item. Oral communications, arguments, and comments are recorded
on tape. The tape and documents related to the items are on file in the office of the
Clerk and are available for inspection, review and copying.
4/10/85
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