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Mr. Castro presented the staff report and the Negative Declaration for the project and recounnended approval of this application for rezoning. Mr. Harvey Williamson, Senior Vice President of the Valley Bank, stated his firm expected to start construction on this facility by the first of the year. No one in the audience spoke in favor or in opposition co this application. IC was moved by Councilman Herlihy, and seconded by Councilman Kinney, that the public hearing on this matter be closed. The roll call vote was as lolloweS AYES: Councilmen Herlihy, Kinney, Hori, and Mayor Pearson NOES: None ABSENT: Councilman Reid It was moved by Councilman Kinney, and seconded by Councilman Herlihy, chat Ordinance No. 703, be introduced to be read by title only and waiving further reading thereof to teaone approximately 1/2 acre of property located at the Southwest corner of Main Street and Bsrnal Avenue (Valley Bank) from P (Public and Institutional) District to 0 (Office) District, and incorporating the Plan- ning Commission's findinSs by reference, The roll call vote fo lowIs was as AYES: Councilmen~ney, Mori, a~ Mayor Pearson NOES: None ABSENT: Councilman Reid MATTERS CONTINUED FOR DECISION Report, Re: Final Dr~.t' Of ~¥ivate sewass .~ilpos. al. ~olic~es}.. (1) HoldinK Tanks, and (2) Septic Tanks This item was continued to the meetin8 of August 20, 1973. Further Report. Re: Impact of Revised Financin2 of.. p;.oJe~.t No. 2 Mr. Walker presented the scarf report 'regarding this matter, sCatinS that the Zone 7 staff made a presentation to the City Council on July 23, 1973, indicating that a 28~ increase in the wholesale cost of water would be necessary to finance Project No. 2, at which time the Council asked the staff to determine the effect of the increased cost of water purchased from Zone 7 on the water rates chat the City would have to charge and what equivalent tax rate would be required to off- set the water race increase. Mr. Walker scared chat on an individual water bill the effect of the 15C in- crease would be about 90¢ per month, or 81.80 on a two-month water utility bill, and the annual cost increase would be about 810.80. With reSard to the tax race equivalent, the estimated assessed value for the City for 1973-74 is approximately ~100 million dollars, therefore, an equivalent tax rate of .0966 or nearly 10C would be required to make up the $96,600.00 in- creased cost of water that would result if Zone 7 water races were increased by 28~. The 10C tax increase would add about 810.00 co the tax bill of a home valued at $40,000.00. Mr. Walkar statad that with ra2ard to tha affect on Sewage Traacmanc, in addi- tion Co reducing the hardness which,will be of obvious advanca2e to all wa~ar users, the imparted surface waters will be lower in chlorides and total dissolved solids, therefore, the final effluent from the V,C.8.D. SewaSs Treatment Plant will have a lower total salt content which is an ~mportant factor in their discharge re- quirements, more effluent can be dischar2sd without resorting to land disposal or ds-mineralisation, and this will Rend =o reduce costs somewhat at the discharge and of the water use cycle even chouSh costs at the intake and may increase. Mr. Walker stated this was for the information of the Council and they should determine whether or no~ to Rake a further position on this matter. Councilman Kinney stated that since the Council had already stated Choir approval of Project No. 2 ~hat no further input was necessary. 8/6/73