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<br /> e Ms. Schue moved, seconded by Mr. Bennett, to adopt the resolu- <br /> tion. Roll call vote; the motion carried unanimously, 8:0. <br /> Mayor Miller adjourned the meeting of the Eugene City Council and convened <br /> the meeting of the Urban Renewal Agency. <br /> XII 1. RESOLUTION ESTABLISHING AN URBAN RENEWAL AGENCY RIVERFRONT CAPITAL <br /> DEVELOPMENT TRUST FUND <br /> City Manager Mike Gleason introduced the topic and said that David <br /> Biedermann, Finance Division, was available to answer questions. <br /> Responding to questions from Mr. Boles, Mr. Biedermann explained that the <br /> Urban Renewal Agency (URA) needs to establish a separate expendable trust <br /> fund to receive and expend money from the State of Oregon Regional Strategies <br /> Grant. Grant and loan proceeds and interest earnings will be used to make <br /> loans to businesses in the URA Riverfront renewal area. As the resources for <br /> this fund will be used to provide loans to businesses in the URA Riverfront <br /> renewal area, it is appropriate by Generally Accepted Accounting Principles <br /> (GAAP) to set up a separate expendable trust fund to receive and expend those <br /> resources. <br /> Res. No. 949--A resolution establishing the Urban Renewal <br /> Agency Riverfront Capital Development Trust <br /> Fund. <br /> e Ms. Schue moved, seconded by Mr. Bennett, to adopt the resolu- <br /> tion. Roll call vote; the motion carried unanimously, 8:0. <br /> Mayor Miller adjourned the meeting of the Urban Renewal Agency and reconvened <br /> the meeting of the Eugene City Council. <br /> XIV. APPOINTMENTS: NOTIFICATION OF MAYOR'S APPOINTMENTS TO THE <br /> METROPOLITAN AREA ELECTRICAL POWER PLANNING COMMITTEE <br /> This agenda item was postponed to the council's November 14 work session. <br /> The meeting adjourned at 10 p.m. <br /> Respectfully submitted, <br /> - <br /> ~.4~'1 <br /> Micheal Gleason <br /> City Manager <br /> (Recorded by Traci Northman) <br /> mncc 110590-730 <br /> - <br /> MINUTES--Eugene City Council November 5, 1990 Page 12 <br />