05/13/1981 Meeting - Laserfiche WebLink

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- council asks that the bonds be placed today, the rate would be too high because there is a charge for the risk involved. Ms. Marshall said she believed that Hutton could do a better job with the bids in a week. At that time, they could try for a rate of 11.75 percent. Mr. Lindberg referred to the statement that bids for 30 percent of the bonds had been received last week. He asked why it would not work to sell that 30 percent and work on marketing the remaining 70 percent. Mr. Gibbs responded that this was in effect what staff proposed and that the question is what to do regarding the remaining 70 percent. Ms. Wooten noted that Ms. Marshall had said that the interest rate is tied to the money supply. Ms. Wooten asked why this was. Ms. Marshall responded that the money supply is the measure the Federal Reserve uses to control the economy, and that interest rates are the tool for this control. She added that a fixed- rate investment is difficult to sell in today's changing market in which investors tend to sit and wait to see what will happen, rather than actively investing. Councilors agreed by consensus to wait a week and consider the resolution at that time. Ms. Wooten asked staff if it were possible for the Eugene Urban Renewal Agency to give council members financial statements indicating the real cash status of that agency. Mr. Tashman agreed to provide this information. 4It IV. HISTORIC PRESERVATION WEEK Mr. Whitlow introduced Deirdre Malarkey, Chairperson of the Historic Review Board. Ms. Malarkey indicated that the focus of events for National Historic Preservation Week this year was on neighborhood preservation. She said that activities for the week included a presentation in conjunction with the Chamber of Commerce on the benefits of historic preservation, and tours of the East Butte and West University neighborhoods. Ms. Malarkey presented to each of the councilors updates for the councilorsl historic preservation notebooks. Councilor Miller thanked Ms. Malarkey for her work in this area and congratu- lated her on the success of the tours. V. JOINT HOUSING COMMITTEE BYLAW REVISION e Mr. Whitlow introduced Greg Byrne of the Department of Housing and Community Conservation. Mr. Byrne said that the Joint Housing Committee was recommending a change in its bylaws to increase its membership from five to seven members, with positions to be filled as follows: one City Councilor, one Planning Commissioner, four citizen-at-large members, and one representative of a recognized neighborhood organization. It was also proposed that the terms of officers on the committee be set for one year and that the bylaws call for adoption of an annual work program in response to council goals and measures adopted by other City bodies working in the area of housing. Councilor Schue serves on the Joint Housing Committee. MINUTES--Eugene City Council May 13, 1981 Page 5