HomeMy WebLinkAbout1969-03-04; Water Systems Improvement Committee Ad Hoc; MinutesMINUTES OF: WATER SYSTEMS IMPROVEMENT COMMITTEE
DATE OF MEETING: March 4, 1969
TIME OF MEETING: 2:00 P.M.
PLACE OF MEETING: City Manager's Conference Room
PRESENT: James P. O'Toole, Glenn McComas, C. E. Martin, W. D. Cannon,
Edward Wells & Associate, Thelma Sowell
ABSENT: W. Atkinson, W. C. Esterline, Robert L. Watson, Knox Williams
This special meeting was called in order that the Committee could
meet with Mr. Wells regarding the property on Foussat Road and Mission
Avenue.
A copy of the letter from Mr. Wells to General Rogers was distributed
to each member. Mr. Wells explained the letter in detail to the
Committee and explained that their function is to assist the City in
marketing its bonds. They will also advise the City as to the amount
to increase the water rate in order to permit us to advertise the
bonds to be sold. We would like to make this rate increase over a
period of time which would be more beneficial to the rate buyer, as
mentioned by Mr. Wells.
Mr. Wells stated that reading over the Water Ordinance indicated
money deposited previously in the water fund is now trapped in the
fund.
Mr. Wells went over a portion of the Bond Issue (Covenent 5) regarding
use of proceeds from the sale of property for improvements.
Mr. Wells stated that we could perhaps remove any funds from the sale
of Elm Street property and use this money for improvements needed and
thus reduce the amount of bonds to sell. He also stated that any
available funds should be used for improvements. It would also be
better to sell bonds in at least two series and Mr. Wells' firm will
stage sale of the bonds.
Mr. O'Toole mentioned that the water rate should be increased by
approximately 35 percent which is a necessity. Mr. O'Toole com-
mented to Mr. Wells that we would like a recommendation from his firm
as to how much we should raise our rates now. Mr. Wells stated that
he would like to make a recommendation in the form of a letter regarding
the water rates.
Mr. Wells also mentioned that a firm known as Coldwell Banker would
make a market analysis of the Lake Calavera property in order to
obtain the best price and sale of property. Mr. Wells suggested we
contact Coldwell Banker regarding such services.
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Mr. Wells stated that he would recommend the City Council first take
steps to decide which property has the highest value and best use and
take steps to authorize marketing and planning.
Mr. O'Toole stated that Committee members should be thinking about
property and what could be a good recommendation for its use.
Mr. Martin mentioned the thought of a planned community project for
the Lake Calavera property and Mr. Wells stated that they are under-
taking renewal projects in almost every City.
Mr. O'Toole stated that revenue from that property will go into the
development program. The Committee will make some sort of recom-
mendation as to how we will proceed with disposal of the property.
Mr. Wells mentioned that before going into selling of the water bond
for the City, they need to know the relation of the Water Department
with the City government functions.
The meeting was adjourned at 3:26 P.M.
Respectfully submitted,
Barbara Bishop
Recording Secretary