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Mr. Pico asked if this applied to the enterprise funds. <br /> <br /> Ms. Acosta indicated this applies to the on-going daily operation of the City and that the <br /> City would never use borrowed money for that purpose. <br /> <br /> The roll call vote was as follows: <br /> AYES: Councilmembers - Dennis, Michelotti, Mohr, Pico, anit Mayor Tarvet <br /> NOES: None <br /> ABSENT: None <br /> ABSTAIN: None <br /> <br /> Publit Ar~ PrOjects <br /> <br /> It was moved by Ms. Mohr, seconded by Ms. Michelotti, to adopt the Planning <br /> Commi.~sion recommendation to add the following Program 10.5 to page XI-11: "Review <br /> public art projects submitted by the Civic Arts Commition for inclusion in the Capital <br /> Improvement Program, determining appropriate funding through the normal budgetary <br /> process." <br /> <br /> Th~ r011 call vote was as follows: <br /> AYES: Councilmembers - Dennis, Michelotti, Mohr, Pico, and Mayor Tarvet <br />' NOES: None <br /> ABSENT: None <br /> ABSTAIN: None <br /> <br /> City Debt Ratio <br /> <br /> Mr. Tarver did not like using "attempt* rather than having investment policies that say <br /> the City will not go over a limit. <br /> <br /> Ms. Acosta indicated the current policy says limit the debt ratio to ten and this <br /> amendment lowers it to five percent. Staff has real concerns about that. <br /> <br /> Mr. Tarver asked if the debt ratio would ever go beyond ten percent, if not, then why <br /> not just say *Limit" the ratio to ten percent, not "attempt" to limit it. <br /> <br /> It was moved by Ms. Dennis, seconded by Ms. Michelotti, to modify Program 12.3 <br /> on page XI-11, to read as follows: "Limit the debt ratio (debt guaranteed by the General <br /> Fund) to ten percent." <br /> <br /> 07109196 -32- <br /> <br /> <br />