pages: CityCouncil/2013-09-17.pdf, 3
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CityCouncil | 2013-09-17 | 3 | stated Certificates of Participation (COPs) are more complex than general obligation bonds because the action is actually leasing; going forward, staff will include a clear summary sentence explaining the action. The City Attorney stated the formatting will be improved; a blogger mentioned the Emergency Operations Center (EOC), which is in the title; the language is not hard to read and understand even though the title is long; listing the actual action is legally required and particularly important in bond deals; bond counsel has to issue legal opinions as to whether the action was duly authorized and issued; going forward, a caption will be added at the top of the title; however, the caption has to be neutral and fair, without editorial comments; the title is in compliance with the Sunshine Ordinance, but the title is long and staff will work to ensure language is as easy to understand as possible. The Finance Director noted timing is important; stated the City wants to proceed to take advantage of lower interest rates. Vice Mayor/Authority Member Ezzy Ashrcraft stated the title is lengthy; however, the legislation language is very clear; everything is posted on the website. Mayor/Chair Gilmore stated that she understands the legal requirements; the public scans agendas to issue spot items which are of interest. The City Clerk stated the new agenda system allows the public to receive notifications when a matter of interest is on a meeting; the website includes instructions on how to set up notifications. Councilmember/Authority Member Tam stated the Sunshine Ordinance directs being clear to the average 8th grader. Councilmember/Authority Member Chen inquired what is the estimate to build the EOC. The City Manager responded $3 million will pay for the EOC, but does not pay for Fire Station 3. The Assistant City Manager stated the EOC estimate is $2.8 million, which does not include any contingency. Councilmember/Authority Member Chen inquired whether adopting the resolution tonight means an EOC will be built. The City Manager responded staff would like to start construction in spring 2014. The Assistant City Manager stated a design contract would be presented at an upcoming Council meeting. Joint Meeting Alameda City Council, City of Alameda Financing 2 Authority and Alameda Public Improvement Corporation September 17, 2013 | CityCouncil/2013-09-17.pdf |