Council approves multiple items, accepts two bids totaling about $137.845 million and approves $16,000 settlement
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Summary
The Los Angeles City Council approved committee reports and ordinances, accepted two bid awards recommended by ORS (A.G. Edwards for $88,565,000 and Bank of America for $49,280,000), and approved a $16,000 settlement in Loyola Marymount University v. City of Los Angeles; votes were recorded on the roll.
The Los Angeles City Council on Tuesday approved a series of committee reports and ordinances, accepted two bond bids and approved a $16,000 settlement in litigation against the city.
Among roll-call actions, the council approved subitem 2a (CED and Housing & Community Redevelopment recommendations) on a 10–1 vote. Items 3 and 4, both committee reports for which public hearings had been held, were approved on a roll call (11 ayes). The body approved items 7 through 17 (with item 15 handled separately) by recorded votes, and item 15 was approved on a 12-aye tally after a public speaker voiced support.
Mario Vasquez of the Office of Administrative and Research Services told the council the administration recommended two bid awards: A.G. Edwards at a true interest cost of 4.867447 for $88,565,000 and Bank of America at a true interest cost of 4.265803 for $49,280,000. The council accepted both bids and adopted the accompanying resolutions; the two awards total $137,845,000.
Council also approved an offered settlement of $16,000 in Loyola Marymount University v. City of Los Angeles; the clerk recorded the vote as 11 ayes to approve the settlement before adjourning to executive session.
Where vote tallies were recorded in the transcript, they are reported here as announced by the clerk. Several agenda items were handled without extended debate and passed by recorded roll-call votes.