NOTE:

IN ACCORDANCE WITH PROVISIONS OF THE ARIZONA REVISED STATUTES AND THE FLAGSTAFF CITY CHARTER THE SUMMARIZED MINUTES OF CITY COUNCIL MEETINGS ARE NOT VERBATIM TRANSCRIPTS.  ONLY THE ACTIONS TAKEN AND DISCUSSION APPEARING WITH QUOTATION MARKS ARE VERBATIM.  AUDIO RECORDINGS OF CITY COUNCIL MEETINGS ARE ON FILE IN THE CITY CLERK’S OFFICE.

SUMMARIZED MINUTES

SPECIAL COUNCIL MEETING

April 28, 2008

4:00 p.m.

A Meeting of the Flagstaff City Council was held on April 28, 2008 convening at 4:03 p.m., in the Council Chambers at City Hall, 211 West Aspen Avenue, Flagstaff, Arizona.

CALL TO ORDER

The Meeting was called to order by Mayor Donaldson.

2.      ROLL CALL

On roll call, the following were present:

Mayor Donaldson

Vice-Mayor Overton

Councilmember Cooper

Councilmember Haughey

Councilmember Kelty

Councilmember Swanson

Councilmember White

Also present were:

City Manager, Kevin Burke

City Attorney, Patricia Boomsma

3.

Consideration of Assurance of Performance Agreement and Irrevocable Standby Letter of Credit:  McMillan Mesa Village.

RECOMMENDED ACTION:

Approve the Assurance of Performance Agreement and Irrevocable Standby Letter of Credit, contingent on proof good stand by Reliance Bank with the Arizona Corporation Commission.

Councilmember Haughey moved to approve the recommended action, seconded by Vice-Mayor Overton.

Shirley Greco, Buyer, provided brief comments and said that staff has received a statement from the Arizona Corporation Commission stating that Reliance Bank is in good standing.

Harry Lane, Senior Assistant City Attorney, explained that Council has been provided an updated, red-lined version of the Private Development Assurance of Performance Agreement.

He also stated that in Section 8 of the agreement the words “original face amount value of the

Letter of Credit” appears twice and should be amended in each case to read “Infrastructure Cost Budget.”

Councilmember Haughey moved to amend the motion to accept the red-lined version of the agreement and the changes read by Harry Lane, seconded by Vice-Mayor Overton.  The motion passed on majority vote with Mayor Donaldson, Vice-Mayor Overton and Councilmembers Cooper, Haughey and Kelty in favor, and Councilmembers Swanson and White opposed.

13.    ADJOURNMENT

There being no further business to come before the Council, the Special Meeting was adjourned at 4:11 p.m.

MAYOR

ATTEST:

CITY CLERK

CERTIFICATION

STATE OF ARIZONA,

Coconino County.

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ss.

I, MARGIE BROWN, do hereby certify that I am the City Clerk of the City of Flagstaff, County of Coconino, State of Arizona, and that the above Minutes are a true and correct summary of the Special Meeting of the Council of the City of Flagstaff held on April 28, 2008.  I further certify that the Special Meeting was duly called and held and that a quorum was present.

DATED this 21^st day of May, 2008.

CITY CLERK