>> we can include that with the oversight members along with the frequency of the rfp in a brief memo. >> i have a, again, a question of curiosity. i saw a reference to a commercial paper program. do we have one? >> the city does. the city has a major commercial paper program. we do not. we issue long term debt. >> yeah. >> we don't issue paper -- >> i just saw the reference there in the policy for commercial paper. >> i don't think the department of finance would [inaudible] get too creative -- >> the reason i know that is because the airport, especially after september 11, commercial paper program was very useful, but that was very different -- >> yeah, we will be exploring financing options in the future if we are unable to sell bonds for our major projects and transbay and we don't have enough money as a pay as you go basis. we have been talk with the city

about some sort of relationship and using their debt issuance possibilities if we can get the of to agree to a loan agreement between the city and us. it's just something we're exploring if we don't have other financing options available. >> thank you. okay, i have no other questions. >> commissioner singh, anymore questions? >> no. >> no more questions. >> i move that. >> commissioner singh moves. >> second. >> commissioner mondejar seconds. moved and seconded. please call the role. >> commissioner mondejar. >> yes. >> commissioner singh. >> yes. >> rosales. >> yes. >> the vote is three is. >> thank you. motion passes. please call the next item. >> item 5k authorizing the executive director to enter into a memorandum of understanding between the san francisco and the city and county of san francisco

controllers office of public finance for assistance with debt issuance and administration. >> to the extend that we would like to use their depth, their capacity. we have arrangements with the controllers office for surge accounting and other work you've previously approved, mayor's office of development, plan, et cetera, this is another one of those items that will help us with the work we have before us that is our managing and debt portfolio and refunding, pry mayly. with that, i'd like to ask deputy director of finance and administration, to walk you through the proposed mou terms. >> thank you director and chair and commissioners. i am leo levinson.

this is a clean up item. it is to bring before you what is our practice, but we feel it's worthy of formalizing because it is a significant with the city and there are some dollars involved which come out of the cost of issuance accounts when we issue debt. of and so we want -- and we also want to really get it down in writing with the controllers office so we wrote down our roles. the controllers office of public finance manages the very large multibillion dollar debt portfolio for the city and so they have a great depth of knowledge both about the market and about the credit of the city and also a very strong interest in our debt for two reasons. one is because we're paying back most of our debt from property tax, which, if we do it in the most economic cal way, most of the money saved goads back to the city, 55% or

so, and that's important to them that we're efficiently managing our debt. and secondly our credit matters to the city. if we did something wrong and there was a headline about a default or some other thing we did with debt that didn't look that would reflect on the city's credit rating because of association. they have a strong interest and willingness to help us in making sure that we're doing things in the best possible way for our debt issuances. they help us develop the teams, review the teams when we want to issue debt shs review the strecktures we put together, provide input on that, and then as we mentioned br on the debt

policy our disclosure rules, we're trying to piggy back. they don't provide training, which we should do, on what you need to know about as you approve our debt, what responsibility you have as approvers of debt so we may call upon them to help us to do a training session in the future. but if ocii is off the public finances there in a consulting and supportive role. the payment for their services does generally come from the cost of issuance so if we don't issue they wouldn't get paid for their time. this provides if there's special requests we make. if they think they need to be paid we would do a special budget for that and do it under our usual procedure.

i'm happy to answer any questions. >> thank you. do we have any speaker cards? >> no speaker cards. >> no member of the public appears available to speak. commissioners, any questions. >> i don't have any questions. >> commissioner mondejar. >> did i hear you correctly that they're not getting paid for advicing out unless they feel like they should be? >> no, no, that's not what i intended to say. no, i meant that generally they get paid when we issue debt there's some cost of issuance budget. in our last set i believe it was $12,500 was how much their staff time came to that have charged are the proceeds of issuing the debt. just as a scale i think that's out of around $300,000 total if you take in the bottom counsel and underwriters, et cetera, so

it's a modest amount of the cost of the debt. if there were an extra consulting role where we wanted them to spends some time, mou says they need to tell us if they want a special budget to be paid that would be separate from the cost of issuance and we'd agree to it first. they couldn't bill us outside the cost of issuance without talking to us first. >> that sounds more sensed. >> so they were to bill us for reimbursement for city attorney time, that's separate from our city attorney work order? >> yes, that would be. that would be -- >> that's basically their -- their counsel? >> yes. >> okay. so -- >> i move that. >> thank you. >> wait a second. >> so it's been moved, seconded. please call the roll.

>> commission members, please announce your vote. >> mondejar. >> yes. >> singh. >> yes. >> rosales. >> yes. >> vote is three is. >> thank you. so yes, when we're set to skinny commission, as i keep saying, we need to be very vigil ent on where people are. >> are there any speaker cards for public congressmen? >> no speaker cards. >> report of the chair. >> i the do not have a report for today. next item. >> next order of business is item 8, report of executive director. >> i don't have a formal report other than to direct you to the proposed forward calendar that

goes out to the rest of the year and will certainly explore opportunities for other meetings, should there be a potential conflict. >> very good, since there's so few of us that's a possibility. next item please. >> next order of business, item 9, commissioner questions and matters. madam chair. >> any questions, matters? >> no questions. >> the only matter that i have and per happens it's a question is that since we're doing housekeeping with the review of our various policies do we have a sense -- or do you have a sense of what are the other ones coming? we've talked i think a little bit about the sbe policy, which is a major one obviously. there wouldn't necessarily be clean up there, but any other policies? i mean, is there something -- maybe a list of ongoing policies that need to be tweaked, if you will?

>> it comes to minds there's an existing records retention policy that we're reviewing. we're still in the analysis phase. we're not quite ready to make any potential recommendations to the commission. we want to do more due diligence in that record. certainly the personnel policy, the changes that were made, we'll take a look at the rest of the housekeeping items now that we've completed all the due diligence reviews t audits, the budget, this gives us a bit of breathing room, even though there's significant am of activity, we want to make sure we're keeping all policies up to date so we'll take a look at that as well. >> the only other question now that you mentioned it is that when we amend our policy the amendments are applicable. perhaps this is a question for mr. brian, our general counsel,

moving forward, do the amended policies apply, for instance, to development? i mean, how do they apply going forward? some may be incorporated in documents and mous, but presume they have prospective effect. >> i think i look forward -- the prize orty, the resolution the commission recently adopted to create preference for ellis act housing par tis pantses was a look forward because we've got, like, amber in time so to speak if there were other contracts, loans, agreements, et cetera, that were previously approved that only gave certificate of preference holders preference. we can't unwind those, but it's a look guards. with each of these policies we'd have to look at what's the application for particular

projects moving forward. >> as an example if we were to amend i know the personnel policy to go from two to one year, as i mentioned, that would be applicable to going guard, so it would be -- i presume -- i mean, you don't need to answer the question, but i'm thinking out loud that that would be a potential beneficial change that could have a beneficial impact on former commissioner ellington, i think. >> yes, i think so. >> okay. >> but that's the state of your policyings that exist at the time then, you know, moving forward that's what we'd implement under. so if you decide to change that policy it certainly would be applicable, but we want to look at that -- >> yeah, yeah. >> because i'm also curious about why we have a two year policy versus one year, which is with the city so would just be interested to finds out why

that was, why that happened, since we're going to approve it, what the reasoning was of the previous commission or whoever proposed that. i also have a question about -- since we're talking about personnel, how are you on hiring? are we fully staffed? i know last time you said your trying to ramp up your staffing. >> we have a good deal of recruitment still underway for project manager positions, compliance positions, really any position that was vacant in the budget we're almost in the process of actively recruiting for all of them. there's a tipping point to stagger them a bit so we are underway to fill all vacant positions. >> commissioner singh, we are

on commissioner questions and matters. do you have any? >> no. i don't have any question or matter. >> next item. >> item 10, closed session. there is no closed session. the next item is 11, adjournment. >> adjournment. 2:43. [laughter]

>> we are very happy here in the heart of the sunnyvale you community to showing up show you off the san franciscans events in this community urge to see hands on exploration and listedcy rich environments and a mass rich environmentalists and languages celebrated and a multiple of cultures and heritages that are slnd relevant

here at the early learning center reserve extremely proud to start out first day which school the earliest education is the most critical i know that students that don't have an advantage of kindergarten enter behind their children in other learning vichls so it's really not a matter in san francisco of wondering if we're going to have the expense of the education we look at it as an environmentalist in our children an environmentalist in our community and so proud that san franciscans have continuallyly voted to support initiates that fund early education in our community we'll have the opportunity in the not so distant future to do that again

and commit to education as a superintendant in the unified school district i'm extremely proud to have a school board that is focused on equality in our policies in how we serve our communities our equality resoluted that means this year you'll hear us speak and see us do many things around closing the chuchlt gap? near future we'll have on board a special assistant to the superintendant that will focus on african-american students learning in san francisco. and you may ask why well, the reason is that we are indischarge oflogies our african-american population in san francisco we know a city as diverse as san francisco can't be the world-class city we are if we don't have our students

achieving so we're ushering banished this are about how we're going to double down on our services and supports of inclusion of all students in the communities this year and what gives me great hope and sole list not only boo do we have a school board that's focused on this task we also have a city government it is equally focused and a faith based community that is equally focused i'd like to welcome with us today and everyone will get an opportunity to introduce themselves introduce a member of the faith based organizations he's the president of the naacp he is a partner with us. and he stands shoulder to shoulder with us the reverend green amos brown

(clapping) thank you very much mr. superintendent. for you're very substantive and kind words regarding our partnership that we are annually today with our mayor standing here with us indicates. that in san francisco we know how to do the right thing to do when it comes to making education everyone's business. and as we earlier walked through the classrooms and saw the children engaged in early learning experiences given that i'm a baptist preacher i immediately went back in my minds eye and recalled that the proof at the time nasal reduce told a story of a man that

plowed up a field to plant weight he did a great job of beginning the task. but when he slept somebody sold sowed some tears? weight when we walk through the doors we saw good wheat being plant in this early childhood education experience and the research of the facts reveal that children basically early childhood education cases in elementary school are all on par with each other in terms of achievement, however, as they moved to middle school and high school somebody sows some tears in the wheat. tears of savage inequality tears

of power neglect, tears of lack of discipline tears of lawlessness and violation but we are standing together to say in the words of george berry marred shaw some people see things and say why but others dream of other this are not and say why not we're saying why not come together caveat and teachers and parents the community the faith community and make sure that we make a difference in the lives of our children so that when they come to the end of the field in the evening at

graduation time particularly in the african-american community it will not be the says that the graduation rate will be a low for us, but we'll be graduating on par with those who started in the field early in the morning. so what are we going to do about that we're going to make sure that we keep things going by having after school tectorial programs back on track students of promise and in public housing we're going to make sure that their wrap around services for partners r or challenged with keeping pace with what they need to do in terms of education in their children we're going to make sure that we have wrap around services to provide safety and security in our

schools at the middle school to high school levels that no child need to go to school in fear and trepidation but they'll go to school and say i will learn and gladly teach others how to find the way to the good life. so thank you very much my friends for progressively we can come together and make sure that we pull those tears out of the field that have no business there and when we do that the day will come when all of those children will be able to say i'm black and proud and yellow and i'm mellow i'm white and i'm all right. and i'm gay and godly and i'm straight and sensible i'm read and ain't dead that's the goal wheel keep the tears out of

the field of this educational process. now i present to you our honorable mayor he uses the bloult pull pin of his office to make sure that this city knows he is an educational a mayor working together with the entire community (clapping.) thank you. >> thank you referred brown. you know this is great to be here on the first day of school fresh faces the subsequent is not only awake but eager to provide that essential link that education provides and i think reed brown is absolutely correct i wanted to talk this morning and welcome over the course president chiu and supervisor malia cohen who's district we're in this morning and give a

harder i didn't welcome to our superintendant and two school members that are working hard to make that happen reverend and that's hydra mendosa and emily who is also on the boards she serves as the director on the status of women we're all here together i see barbara carlson she and first 5 are working in the community with us but we have a lot of our members working together with our school district. long ago i believe it's going to get longer ago the unified school district had to struggle by itself they saw the state as their challenge and the city was not there with them we've learned a lot of through a lot of tragedies tragedies of failure and of not supporting

each other and our hearten guarantee again to opening statements opening obama we're going our brothers keeper and make sure we succeed so the school district is not isolated, in fact, i think more and more you'll see those public-private partnerships that occur particularly with the school board the way their listening to the community and all of the exciting work we're doing with the corporate's and the city agencies working together with superintendant carr responses and our office of early care our first 5 program but all the children's program through the leadership of all the others working together to make sure that we connect up. and so it is that while we invest in what occurs in the classroom support the teachers the school administrator we

don't leave it to chance that it only occurs in the classroom that's what the reversed was talking about we have to do it in our public housing settings in our community of bayview and all the other communities throughout the city in sxoovr and other preschool programs in a family home sector there are a lot of other services that we want to make sure happen. when this tragic incident that happened a few blocks away occurred this summer we had to make sure that the kids coming here and into visitacion valley will be ready to educate themselves and not be traumatized horrible as it happened we need to care of them and say our public health officials we want to make sure