HomeMy WebLinkAbout02-23-2010 PFAMINUTES
PUBLIC FINANCING AUTHORITY MEETING
CITY OF LAKE ELSINORE
183 NORTH MAIN STREET
LAKE ELSINORE, CA 92530
....... ... .... TUESDAY, FEBRUARY 23, 2010
..................................... ...............................
CALL TO ORDER
Chairman Hickman called the meeting to order at 8:02 p.m.
ROLL CALL
PRESENT: Chair Hickman, Vice Chair Bhutta, Agency Member Magee, Agency
Member Melendez.
ABSENT: Agency Member Buckley
Also present: Agency Counsel Leibold, Executive Director Brady, and Agency
Secretary Cowley.
PUBLIC COMMENTS — NOWAGENDIZED ITEMS —1 MINUTE
None
PUBLIC COMMENTS — AGENDIZED ITEMS — 3 MINUTES
CONSENT CALENDAR
(1) Approval of Public Finance Authority Minutes
Recommendation:
Approve the following minutes:
a: Minutes of Meeting of December 23, 2008
b. Minutes of Meeting of January 26, 2010
It was moved by Agency Member Melendez and seconded by Vice Chair Bhutta to
approve the Consent Calendar. The motion unanimously carried by the following vote:
Ayes: Agency Members: Magee, Melendez, Vice Chair Bhutta, and Chair Hickman.
Noes: None. Absent: Agency Member Buckley
Public Finance Authority Agenda
February 23, 2010
BUSINESS ITEMS
Page 2 of 3
2. A Resolution of the Board of Directors of the City of Lake Elsinore, Public Financing
Authority Approving the Issuance of Lake Elsinore Public Financing Authority Tax
Allocation revenue Bonds (1995 Series A Refunding), 2010 Series B, in the
Aggregate Principal Amount not to Exceed $11,000,000; Approving an Indenture of
Trust, a Bond Purchase Contract, Loan Agreements and a Preliminary Official
Statement; and Authorizing the Taking of Certain Other Actions related Thereto.
Recommendation:
1. That the Authority Board adopt Resolution No. 2010 -001 PFA and approve
execution of the necessary documents to issue Bonds in an amount not to
exceed $100 million to refinance the Authority's 1995 Bonds.
It was moved by Agency Member Melendez and seconded by Agency Member Magee
to adopt Resolution No. 2010 -001 PFA approving execution of the necessary
documents to issue Bonds in an amount not to exceed $100 million to refinance the
Authority's 1995 Bonds. The motion unanimously carried by the following vote: Ayes:
Agency Members: Vice Chair Bhutta, Magee and Melendez, and Chairman Hickman.
Noes: None. Absent: Agency Member Buckley.
PUBLIC COMMENTS — NON - AGENDIZED ITEMS — 3 MINUTES
None.
EXECUTIVE DIRECTOR COMMENTS
None.
LEGAL COUNSEL COMMENTS
None.
AUTHORITY MEMBER COMMENTS
None.
Public Finance Authority Agenda
February 23, 2010
ADJOURNMENT
Page 3 of 3
There being no further business to come before the Public Financing Authority the
meeting adjourned at 8:03 p.m. and for the meeting to be held in the Cultural Center
located at 183 N. Main Street, Lake Elsinore, CA 92530.
LBARYL MICKMAN, CHAIRMAN
CITY OF LAKE ELSINORE
G1
CAROL COWLEY, CITY
CITY OF LAKE ELSINOI