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Ms. Michelotti asked who assumes the San Francisco share of the cost of the Bemal Bridge. Mr. Swift said the entire cost of the bridge is the obligation of Oliver de Silva Company. They have asked for a reimbursement agreement to provide for San Francisco to pay for half of the bridge in the event it develops the Bernal Avenue property within a certain time frame. Ms. Michelotti asked about water and sewer fees for public facilities and how that would be paid and when. Mr. Swift said the City would pay the fees when the facilities are built. Ms. Michelotti asked if the Council had discretion on using funds to pay off bonds or to pay for public facilities. If part of the fimds were for paying off the bonds before the ten years is over, would the money be kept in a fund for the future? Ms. Acosta said that could be done. When bonds are sold there is a time period within which repayment is precluded, which helps the interest rate. Ms. Michelotti supported the Term Sheet and agreed with Mr. Pico's recommendation. She was pleased with this meeting and felt a lot of information was given so the public can understand the points. The City will gain control of the property, but there would be development entitlements for two parcels. She encouraged the public to learn as much as possible and vote for the measure for the right reasons. A yes vote will insure control of the property. For those who don't want anything built on the property, that will not happen. For those who think all the money is set aside to build the sports park and golf course and other facilities, that is not going to happen irmnediately. A lot of written information is available and she thanked the Task Force for all its work. Ms. Ayala asked if the San Francisco Public Utilities Commission publicly endorsed the Term Sheet. She wanted to make sure that if Council approves the Term Sheet and certifies the EIR that the PUC will do what it agreed to do. Mr. Roush said the PUC did what was required in the Term Sheet and what it agreed to do. A resolution was passed that authorized the PUC to negotiate exclusively with the City 0fPleasanton to sell the Bernal property as outlined in the Term Sheet. A meeting is scheduled tomorrow at 10:00 a.m. to take official action to endorse the Term Sheet and he was confident the PUC would follow through. Mayor Tarver asked at what point Exhibit A to the Term Sheet was firm. He expressed concem about the provision allowing four story buildings. Pleasanton City Council 16 02/15/00 Minutes