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.
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