11-05-1973 - Special Meeting - MinutesMINUTES OF THE ADJOURNED REGULAR MEETING OF THE CITY COUNCIL
CITY OF REST COVINA, CALIFORNIA
NOVEMBER 5, 1973.
The adjourned regular meeting of the City Council called to order at
4:30 P.M., in the West Covina Council Chambers by Mayor Jim Lloyd.
The Pledge of Allegiance was given, led by the Mayor.
ROLL CALL
Present: Mayor Lloyd; Councilmen: Young, Nichols,
Shearer, Chappell
Others Present: George Aiassa, City Manager
George Wakefield, City Attorney
Lela Preston, City Clerk
Leonard Eliot, C.ontr_oller_>:
Bert Yamasaki, Redevelopment Coordinator
Mike McDonnell, Staff Reporter - S.G.V.D.T.
Ken Larson, Administrative Analyst, Jr.
Wm. Fowler, Dir. of Bldg. & Safety
APPROVAL OF AMENDMENT Mr. Wakefield: Mr. Mayor and members of
TO PARKING FACILITIES the Council, we have ended
LEASE up with sort of a chicken
in the egg situation about when the lease of
the parking facilities between the Parking
Authority and the City needs to be executed. In order to meet the
time schedule for the REA the lease needs to be executed in advance of
the final. recording of that document. In order to do that we need to
include a rental figure. The estimated current rental assuming bonds
sell at the maximum of 7 percent interest is $624,000. The proposed
amendment is to include this figure in the lease subject to modifica-
tion when the bonds are actually sold and the rental figure determined.
I ask for your permission toaonend the lease and authorize the Mayor to
execute the lease as so amended and the Clerk to attest to it.
So moved by Councilman Young, seconded by
Councilman Shearer and carried on roll call vote as follows:
AYES: Young, Nichols, Shearer, Chappell, Lloyd
NOES: None
ABSENT: None
COUNCIL APPOINTMENTS Mayor Lloyd: I sent to each of you a
little note to the effect
asking if you were satisfied with the Committee appointments and
I have had responses from two of the Councilmen. Does any one else
have a comment? The only hang up was Councilman Young, he wanted
anything but Wednesday night. Then with your consent I will try and
keep it as much as it is at present and see to it that Councilman Young
receives relief as far as Wednesday is concerned; and I will try and
get this out to you as soon as possible.
ADJOURNMENT
ATTEST:
CITY CLERK
Motion by Councilman
Chappell, to adjourn
November 12, 1973 at
Shearer, seconded by
this meeting at 4:35
4 P.M., in.=:,the City
APPROVED:
MAYOR
Councilman
P.M., to
Council Chambers.