02/10/1992 Meeting (2) - Laserfiche WebLink

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e 1992-93 CDBG funding recommendation. He commended the efforts of Linda Dawson, Planning and Development Department, and Steve Manela, Lane County Health and Human Services, and noted that the overall process was well re- ceived by the human service agencies. Mayor Miller commended Ms. Dawson for her work. Mr. Green moved, seconded by Ms. Ehrman, to approve the use of $180,400 in Community Development Block Grant funds for the nonprofit agency capital projects in 1991-92 as submitted. Roll call vote; the motion passed unanimously, 7:0. VII. ISSUANCE AUTHORITY FOR IN-CITY ASSESSMENT BOND SALE City Manager Mike Gleason introduced the item. Lana Lindstrom, Administra- tive Services Department, presented the staff report. The resolution would authorize the issuance and sale of limited tax improvement bonds in an amount not to exceed $1.5 million for the purpose of financing local improvements. The bonds would be secured by assessment payments from benefitting property owners, reserves from the Bancroft Fund, and the full faith and credit of the City to levy ad valorem taxes up to a $10 per $1,000 limit. The bonds would be dated March 1, 1992, and would mature over a ten-year period. The sale date of the bonds would be March 5, 1992. e Responding to a question from Mr. Robinette, Mr. Gleason said that the issu- ance of Bancroft Bonds required a public vote. He said it would be possible to issue General Obligation-backed Revenue Bonds if Bancroft Reserves became too low. Res. No. 4305--A resolution authorizing the issuance and sale of limited tax improvement bonds, Series 1992-0, in an amount not to exceed $1,500,000 for the purpose of financing local improvements Mr. Green moved, seconded by Ms. Ehrman, to adopt the resolu- tion. Roll call vote; the motion passed unanimously, 7:0. VIII. ORDINANCE AUTHORIZING THE INSTITUTION OF PROCEEDINGS IN EMINENT DOMAIN FOR THE ACQUISITION BY CONDEMNATION OF PROPERTY INTERESTS SOUTH OF AIRPORT ROAD City Manager Mike Gleason introduced the topic. Les Lyle, Public Works De- partment, presented the staff report. Approval of the ordinance will enable staff to proceed to acquire the property and negotiate a settlement with the affected property owner. Condemnation proceedings will be used only if nego- tiations do not result in acquisition of the property. CB 4357--An ordinance authorizing the institution of proceed- e MINUTES--Eugene City Council February 10, 1992 Page 9