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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 $460,000 PRINCI- PAL AMOUNT OF CARLSBAD' BUILDING AUTHORITY ' REVE- • NUE BONDS, was adopted. Notice Inviting Bids. The bid opening date has been set for 2:30 P.M. on December 5, 1967. It-was agreed that the Authority would meet at 2:30 P.M. on December 5, 1967 for the opening of t h e b i d s '. Resolution No. 4. RESOLUTION OF THE GOVERNING BOARD OF THE CARLSBAD BUILDING AUTHORITY DIRECT- ING SECRETARY TO PUBLISH NOTICE INVITING SEALED PROPOSALS FOR BONDS OF SAID AUTHORITY, was adopted. Official Statement. The Official Statement has been- reviewed by the City Manager and Mr. Fritz Stradling. Mr. Fieldman informed the Authority this statement will contain pictures of the' ' City, i ncl udi ng . pi ctures of the May. Co. Complex. The Statements will be mailed on November 24, 1967. Resolution No. 5. RESOLUTION OF THE GOVERNING BOARD OF THE CARLSBAD BUILDING AUTHORITY APPROV- ING THE OFFICIAL STATEMENT, was adopted. - Mr. - Stradl i ng informed the members of the Author- ity that all the above documents are contingent upon the Council accepting the bid in accordance with the terms presented. Adjournment. Upon proper motion the meeting was adjourned to December 5, 1967, at 2:30 P.M. in - the Council Chambers. The Chairman declared the meeting adjourned at • 5:05 P.M. Respectfully submitted, MAR'GA/ET E. ADAMS' Recording Secretary i \\\> of ^i$ Member X< Helton Peterson Jose Helton Peterson Jose Helton Peterson Jose Helton Peterson Jose He! ton Peterson Jose >x\ &£ . X X , X X X i* \*jC&