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HomeMy WebLinkAbout1970-07-03; City Council; 198; Water Bond SaleTHE CITY OF CARLSBAD, CALIF' ORNIA Agenda Bill No. 1 98 Date: July 3, 1970 Referred To: Subject: Submitted By: A Water Bond Sale Statement of the Matter Minutes of the Water Committee meeting held June 29, 1970 - 7:00 P.M. The following actions were taken and submitted herewith for your con- sideration: 1. That $300,000 be transferred from the excess in the bond service funds to the construction fund. 2. That bond consultants, Bartle-Wel1s; and bond counsel, Rutan and Tucker, be urged to proceed with the necessary formalities to market approximately $1,000,000 in bonds at the earliest possible date. Exhibit Minutes of the Water Committee, Resolution #1753 Staff Recommendations A-B Wo. 198 Date: City Manager's Recommendation Construction of Interstate 5 places a number of demands on the Water Department construction fund in addition to general system improvements that are badly needed." Any monies that may be found to allocate to the Water Department construction fund will be of assistance in re- ducing the backlog of requirements in this area. Council'Action 7-7-70 Resolution #1753 was adopted, authorizing the transfer of excess funds in the Water Department Bond Service Fund to the Water Department Construction Fund, as recommended by the Water Committee It was agreed that the Bond consultants and bond attorneys proceed -to market approximately $1,000,000 in Bonds at the earliest possible date. — 2 —