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MINUTE~ <br /> OF TH]~ <br /> <br /> CITY COUNCIL <br /> <br /> December 13,! 1994 <br /> <br />CALL TO ORDER <br /> <br /> Mayor Ben Tarver called the Special Meetin~ of the City Council to order at 7:05 p.m. <br /> <br />ROLL CALL <br /> <br /> City Clerk Peggy L. Ezidro called the roll, which is recorded as follows: <br />Councilmembers present were Rebecca L. Dennis, Thomas P. Pico, Jr. (arrived at 7:12 p.m.), <br />and Ben Tarver. Staff members present were: Deb6rah Acosta, City Manager; Steven Bocian, <br />Assistant City Manager; Michael H. Roush, City Attorney; Dennis Beougher, Assistant City <br /> <br />Director of Finance; Randall A. Lure, Director <br />Chief, <br /> <br />MEETING OPEN TO THE PUBLIC <br /> <br />There were no speakers. <br /> <br />1.~. Resolution Authorizing the Issuance. Sale an~ Delivery of Multifamily Housing Revenue <br /> Refunding Bonds. Authorizing the Executio~ and Delivery of Related Documents and <br /> Approving Actions in Connection Therewithq (Multifarnily Housiug Revet~ue Refunding <br /> Bonds (Civic Square Apartmentsk 1994 Isst~e A) . (SR 94:413) <br /> <br /> Susan Rossi presented a brief review of the ~taff report. She indicated the staff report <br />had been amended to require the owner to provide lower income housing units until at least <br />2007. <br /> <br /> Ms. Dennis asked why the refinancing was ~ot completed earlier, at the a fixed rate. <br /> <br /> Mr. Beougher indicated that decision was ma~le by the property owner because it was too <br />costly. He explained that in 1985, when the project was granted growth management exemption, <br /> <br />12/13/94 <br /> <br />Page 1: <br /> <br /> <br />