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361 It was further moved by Ms. Mohr, and seconded by Mr. Mercer, that Resolution No. 91-127 be adopted, approving Option 2 of the financing plan, which would finance the construction of the Senior Center through an asset transfer and lease back of the City Library and the sale of Certificates of Participation, as set forth in the Staff Report. The roll call vote was as follows: AYES: Councilmembers Mohr, Scribner and Mayor Mercer NOES: None ABSENT: Councilmembers Butler and Tarver C~ ABSTAIN: None ~" Mr. Mercer inquired when the Senior Center would go to bid and < when the construction is expected to start. Z Ms. Bengtson replied that the project would be put to bid within ten days and would have an approximate 30-day bid period. She stated that if the bids are good, Staff would have a report for Council by the first meeting in October, after which the ground breaking could take place. Ms. Mohr inquired if early rains would delay the start time. Ms. Bengtson said yes. She explained that part of the bid --- alternate is an option for the contractor to place his bid based on two scenarios: one to start work and delay the work from day to day as the rains come; and the other to start work and delay the entire project until after the rainy season in April. She stated that Staff is unable to predict at this time which alternative would yield the most significant savings from the delay, which would determine the way the construction would go. Ms. Mohr requested Staff to make sure that the seniors in the community understand the reasons for any delay. Harvest Park School Gymnasium Ms. Acosta stated that it is difficult for Staff to be in the position of not being able to recommend to Council to proceed with the sale of Certificates of Participation for the construction of the Harvest Park School Gymnasium. She indicated that the City's economic situation has changed dramatically in the past year and that Staff does not feel comfortable enough to commit the Council or the community to an additional $300,000 in debt service payments. She added that Alameda County has just informed Staff that the City's property taxes assessment estimates were too high, which would result in about $300,000 to $450,000 less in this year's budget. She continued that she has had discussions with the - 13 - 8-6-91