CC Minutes - 01/08/07 Meeting - Laserfiche WebLink

Home Browse Search

Councilor Ortiz, seconded by Councilor Pryor, moved to approve the items on the Consent Cal- endar. Councilor Poling said that he submitted a minutes correction electronically. Councilor Bettman said she electronically submitted minutes corrections. She thanked Councilor Poling for taking Councilor Kelly’s place in terms of finding some omissions and errors in the minutes. She remarked that she hoped councilors would not have to act as proofreaders. Mayor Piercy deemed the minutes corrections, without objection, approved. Roll call vote, the motion to approve the Consent Calendar passed unanimously, 8:0. Mayor Piercy adjourned the Eugene City Council and convened the Eugene Urban Renewal Agency at 8:10 p.m. 5. ACTION: Resolution 1041 Acknowledging Receipt of the Annual Financial Report of the Urban Renewal Agency of the City of Eugene, Oregon, for the Fiscal Year Ended June 30, 2006 Councilor Ortiz, seconded by Councilor Pryor, moved to adopt Resolution 1041 acknowledging receipt of the Annual Financial Report for the Urban Renewal Agency of the City of Eugene for the fiscal year ended June 30, 2006. City Manager Dennis Taylor pointed out that the Urban Renewal Agency of the City of Eugene had a clean audit “again” with no comments whatsoever. He called this a phenomenal achievement for any city. Mayor Piercy thanked the City Manager and staff for both of the reports, noting that it demonstrated that City staff was doing a good job at being fiscally responsible. Roll call vote; the motion passed unanimously, 8:0. 6. ACTION: Resolution 1042 Delegating Authority to Declare Official Intent to Reimburse Expenditures City Manager Taylor asked Financial Analysis Manager for the Central Services Department Sue Cutsogeorge to explain why the resolution was before the council. Ms. Cutsogeorge stated that the resolution granted authority to the Agency Director, also the City Manager, to sign the paperwork that the Internal Revenue Service (IRS) required under certain circumstances. She explained that if an entity thought it was going to spend its own money and then later come back with a tax exempt bond to repay itself, it was required to declare this prior to spending the money. She said the IRS did this because it had an interest in ensuring that the fewest number of tax exempt bonds were issued. She underscored that the resolution did not authorize any spending or any debt nor did it require any issuance of any debt. She stated that the reason one of the delegations had been used by the city in the past was because MINUTES—Eugene City Council January 8, 2007 Page 5 Regular Meeting