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MINUTES <br /> OF THE <br /> MEETING <br /> OF THE <br /> PLEASANTON CITY COUNCIL <br /> <br /> January 20, 2004 <br /> <br />6:00 P.M. CLOSED SESSION <br /> <br /> Conference with legal counsel regarding pending litigation (Signature Properties, <br />et. al. v. Pleasantun Unified School District, et. al.) <br /> <br /> Conference with legal counsel concoming claim of Rachel Cason <br /> <br /> Conference with legal counsel concoming pending litigation (Alisal Improvement <br />Club, et. al. v. City of Pleasanton) <br /> <br />1. CALL TO ORDER <br /> <br /> The regular meeting of the City Council was called to order by Mayor Tom Pieo <br />at 7:06 p.n. <br /> <br /> Councilmember Hosterman led the assembly in the pledge of allegiance. She <br />referred to a memo that was emailed to Council entitled "Deficit Borrowing Plans of the <br />State of California: An Explanation of the State's Cash Flow Situations and Possible <br />Solutions." The document enumerated a number of solutions the State may employ in <br />the coming months to handle the $14 billion short-term debt, which will be maturing in <br />June 2004. One of the possibilities mentioned was the use of registered warrants <br />(Revenue Anticipation Warrants)to refund the debt. If this partienlar scenario were used, <br />it would kick in a higher priority of how payments are made. Payments by the State <br />would first be made to schools, payment of debt service on General Obligation and Lease <br />Revenue Bonds, payment of borrowed money to special funds, if those funds need the <br />money to carry out their governmental purpose, and finally any payments required by <br />Federal Law. She pointed out that health and welfare programs are not included, as well <br />as all payments to local governments, including the Vehicle Licensee Fee (VLF) <br />payments. Out of the League of California Cities' concern for the continued <br />appropriation t~om the municipalities to the State to balance its budget has come a ballot <br />measure entitled "Local Taxpayers and Public Safety Protection Act," which will appear <br />on the November 2, 2004 ballot. This measure would require voter approval before the <br />Legislature could reduce local government revenues or take them for State rather than <br />local purposes. She noted that a number of cities throughout the State of California have <br />passed a resolution in support of the ballot measure. She will ask Council to consider <br />adopting a similar resolution under Matters Initiated by Council. She mentioned that <br /> <br />Pleasanton City Council 1 01/20/04 <br />Minutes <br /> <br /> <br />