HomeMy WebLinkAbout1967-11-07; Building Authority; MinutesCITY OF CARLSfl
Mi nutes :
Date of Meeting:
Time of Meeting: -
erf Meeti ng_:
(Special Meeting)
Carlsbad Building A
November 7, 1967
4:00 P..M.
Council Chambers
The meeting was called to- order by Chairman
Peterson at 4:00 P.M. Members present besides
the Chairman were Directors C. R. Helto.n and
Elmer H. Jose, Jr. Also present were City
Manager . Mamaux, Mr..William Fie-ldman, Financial
.Consultant, and Mr.. Fritz S trad ling, S.pecial
Counsel for the Carlsbad Building Authority.
APPROVAL OF MINUTES: Minutes of the regular
meeting of the Carlsbad Building Authority held
I on October 13, 1967, were approved as presented,
Helton
Peterson
Jose
|Review of Contract Bid. The low. bid of C. A.
lLarson was reviewed. The Directors were informed
Ithat a meeting was held yesterday by the Carlsbad
'.Civic Center Building Committee to discuss the -
|conyract price. In analyzing the costs, the base
Ibid of $449,767.00, .less alternates 1, 2 and 3,
jtotaled $415,053.00. By deducting change order
!#1 in the amount of $45,158.00, the contract pric
jwould be $369,895.00. The Architects fee in the
Jamount of $29, 591.00 was added, making the total
|cost of construction $399,486. In addition the
Jsum of $38,940.00 for furniture and fixtures, plu
;the cost of financing the project, would have to
ibe added, making .a grand total of $484,000.00 for
the project.
The Consultants have been using the figure of
$460,000.00. The Building Committee instructed
the Architects to look into the possiblity of
deleting the air conditioning equipment. A re-
port was made ba.ck to the
cost of the equipment and
only mean a difference of
it was the feeling of the
should be installed.
Committee today on the
it w.a.s .found it would
$10,454.00; therefore,
Committee the equipment
•The Building Committee is recommending to the
| City Council that the bid of C. A. Larson be
{accepted, and that bonds be issued in the amount
| of $460,000, with the Architects' fee being paid
! from the General Fund.i .«{After further consideration, by motion of the
{Authority, it was agreed that the Authority rec-
! ommend t'o the City Council that the low bid of
• C. A. Larson be accepted; understanding that the
! desire of the Council is not to issue bonds ,in
j excess of $460,000, the Authority has approved
I the financing of $460,000. It was further recom-
j mended that the Architects' fee be paid from the
| General Fund.
t1
[Leases. The Civic Center Ground Lease and the
>Civic Center Lease were reviewed by Mr. Stradling.
:Mr. Stradling informed the Authority due to the
;future sale of a portion of the property to the
State for widening of the Freeway, it was neces-
sary to use the legal description of the property
after the sale. The leases have checked with the
bank and the title company.
The following resolution was introduced:
Helton
Peterson
Jose
* . -2- '•
Resolution No. 2. RESOLUTION OF THE GOVERNING
BOARD OF THE CARLSBAD BU I LDI NG . AUTHORITY , AP-
PROVING CERTAIN LEASES WITH THE CITY OF CARLSBAD-
was .adopted . •
Approving issuance :of bonds. Mr.-Fieldman in-
. formed the Authority the bond market is in rought
shape. It is his job to make the bonds attrac-
tive. Some of the bonds will be serial bonds anc
some will be term bonds. The term bonds will be
handled through a sinking fund.
The following resolution was presented for con-
si d e r a t i o n :
Resolution No. 3. RESOLUTION OF THE GOVERNING
BOARD OF THE CARLSBAD BUILDING AUTHORITY CON- ^
STITUTING ITS INDENTURE PROVIDING THE TERMS AND.
CONDITIONS FOR THE ISSUANCE OF $460,000 PRINCI-
PAL AMOUNT OF CARLSBAD' BUILDING AUTHORITY ' REVE- •
NUE BONDS, was adopted.
Notice Inviting Bids. The bid opening date has
been set for 2:30 P.M. on December 5, 1967.
It-was agreed that the Authority would meet at
2:30 P.M. on December 5, 1967 for the opening of
t h e b i d s '.
Resolution No. 4. RESOLUTION OF THE GOVERNING
BOARD OF THE CARLSBAD BUILDING AUTHORITY DIRECT-
ING SECRETARY TO PUBLISH NOTICE INVITING SEALED
PROPOSALS FOR BONDS OF SAID AUTHORITY, was
adopted.
Official Statement. The Official Statement has
been- reviewed by the City Manager and Mr. Fritz
Stradling. Mr. Fieldman informed the Authority
this statement will contain pictures of the' '
City, i ncl udi ng . pi ctures of the May. Co. Complex.
The Statements will be mailed on November 24,
1967.
Resolution No. 5. RESOLUTION OF THE GOVERNING
BOARD OF THE CARLSBAD BUILDING AUTHORITY APPROV-
ING THE OFFICIAL STATEMENT, was adopted.
- Mr. - Stradl i ng informed the members of the Author-
ity that all the above documents are contingent
upon the Council accepting the bid in accordance
with the terms presented.
Adjournment. Upon proper motion the meeting was
adjourned to December 5, 1967, at 2:30 P.M. in
- the Council Chambers.
The Chairman declared the meeting adjourned at •
5:05 P.M.
Respectfully submitted,
MAR'GA/ET E. ADAMS'
Recording Secretary
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