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MAY 11990 boor. 79 F, <br />not. However, Administrator Chandler, Director Pinto and himself <br />spent a couple of hours with Mayor Smith a couple of weeks ago <br />and went over a lot of utility issues, and he felt you will see a <br />better dialogue with them over the next year as a result of that <br />meet-ing. <br />THE CHAIRMAN CALLED FOR THE QUESTION. The Motion <br />was voted on and carried unanimously (4-0, Chairman <br />Eggert being absent). <br />(CONTRACT IS ON FILE IN THE OFFICE OF THE CLERK TO THE BOARD) <br />FINANCE ADVISORY COMMITTEE REPORT <br />Commissioner Scurlock reported on the following major items <br />that were discussed at the recent FAC meeting: <br />1) Financing <br />for <br />the Rockridge System <br />Commissioner Scurlock <br />reported that <br />the <br />FAC's recommendation <br />is to move ahead to <br />prepare packets that will be sent not only to local banks but <br />also to sophisticated investors as well as underwriters. <br />However, we don't anticipate any underwriter being involved in <br />this particular issue since it will be a private -type placement. <br />We have made every effort to market this locally, but that has <br />not happened, and we are out on the street looking for proper <br />placement at the right interest rate. ` <br />2) Bond Counsel As you know, we look at all our professional <br />services on a regular basis, and Attorney Vitunac advised the FAC <br />that he was very pleased with the performance of Rhodes S Sinon; <br />that he felt we have a good team in place; and that a reasonable <br />price was being charged for the services rendered. He <br />recommended to the FAC to continue our relationship with Rhodes & <br />65 <br />