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credit and 25% cash have now been changed to a minimum of 15% letter <br />of credit or 20% cash, which will be determined according to the <br />developer's credit worthiness. <br /> <br />Commissioner Gamec stated that a developer's credit worthiness will be <br />determined by a fiscal agent and an escrow amount will be established. <br /> <br />2. Commissioner Sieber: Charter Punchlist Preparation And Review: <br /> <br />Commissioner Sieber presented copies of the intial punchlist to <br />Charter Commission members. <br /> <br />APPROVAL OF AGENDA <br /> <br />Commissioner Buchanan noted that under charter Commission New Business only <br />Chapter 5 is to be prepared at this meeting. Commissioner Buchanan stated <br />that it was his understanding that chapter 6 would also be prepared at this <br />meeting. <br /> <br />Charter Commission consensus is to pregress with chapter preparation as much <br />as time will allow and not necessarily according to the agenda. <br /> <br />Commissioner Bauerkemper stated that she would like to address the issue of <br />increasing the frequency of charter Commission meetings. <br /> <br />Commission consensus is to approve the agenda, to progress with chapter <br />preparation beyond Chapter 5, if possible, and to discuss Meeting Frequency <br />as the last order of business under Commission New Business. <br /> <br />Commissioner Buchanan stated that he has talked with Mr. Dorn and Mr. Dorn <br />prefers not to review the chater chapter-bychapter, but rather in it's <br />entirety. <br /> <br />UNFINISHED BUSINESS <br /> <br />Before addressing those items on the agenda, Chairman Heitman noted some <br />corrections to the charter draft copies: <br /> <br />1. Section 2.03 - Add the following sentence: 'Mayor shall serve for a <br /> term of two years and/or until a successor is elected and qualifies.' <br /> <br />2. Chairman Heitman stated that he is eliminating the terms 'Subdivision' <br /> and constructing the charter draft on a numbering system only. <br /> <br />3. Section 4.04 - Second sentence; typographical error - change 'in at <br /> least on public place' to 'in at least one public place. . .'. <br /> <br />4e <br /> <br />Section 4.05.04 - Chairman Heitman stated that the last sentence could <br />use some clarifying phraseology. Commission consensus is to add the <br />phrase 'from the candidates under consideration' to the end of the last <br />sentence. <br /> <br />Chairman Heitman stated that the last sentence in this section also <br />needs clarifying phraseology. Commission consensus is to add the <br />phrase 'from the candidates under consideration' to the end of the <br />last sentence. <br /> <br />CC/August 25, 1983 <br />Page 3 of 9 <br /> <br /> <br />