HomeMy WebLinkAboutReport to Public Financing Authority CITY OF
LAKE 6 LSINOn
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REPORT TO PUBLIC FINANCING AUTHORITY
TO: HONORABLE CHAIRMAN
AND MEMBERS OF THE PUBLIC FINANCING AGENCY
FROM: ROBERT A. BRADY
EXECUTIVE DIRECTOR
DATE: DECEMBER 13, 2011
SUBJECT: APPROVAL OF MINUTES
Discussion
The following Public Financing Agency Minutes are submitted for approval:
a) Public Financing Authority meeting of November 8, 2011.
Recommendation
It is recommended that the Authority Board approve the minutes as submitted.
Prepared by: Dana C. Porche
Office Specialist
Approved by: Virginia J. Bloom �I
City Clerk
Approved by: Robert A. Brady
City Manager
AGENDA ITEM NO. 1
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MINUTES
PUBLIC FINANCING AUTHORITY MEETING
CITY OF LAKE ELSINORE
183 NORTH MAIN STREET
LAKE ELSINORE, CA 92530
TUESDAY, NOVEMBER 8, 2011
CALL TO ORDER
Chairman Hickman called the meeting to order at 10:25 p.m.
ROLL CALL
PRESENT: Chairman Hickman
Vice - Chairman Tisdale
Authority Member Magee
Authority Member Melendez
Authority Member Weber
ABSENT: None
Also present: Executive Manager Brady, Authority Counsel Leibold, Director of
Administrative Services Riley, Public Works Director /City Engineer Seumalo, Director of
Lake, Parks and Recreation Kilroy, Police Chief Fontneau, Fire Chief Lawson, Planning
Manager Morelion, and Authority Secretary Bloom.
CONSENT CALENDAR
(1) Approval of Public Financing Authority Minutes
Recommendation: It is recommended that the Public Financing Authority
approve the minutes as submitted:
a) Public Financing Authority meeting of May 24, 2011.
Motion by Vice -Chair Tisdale, seconded by Authority Member Melendez to approve the
Consent Calendar was approved by unanimous vote.
PUBLIC HEARING(S)
None.
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Public Finance Authority Minutes
Meeting of November 8, 2011
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BUSINESS ITEM(S)
(2) Resolution No. 2011 -03 A Resolution of the Board of Directors of the Lake
Elsinore Public Financing Authority Approving the Issuance of Lake Elsinore
Public Financing Authority Local Agency Revenue Bonds (1996 Series E
Refunding), 2011 Series B in the Aggregate Principal Amount Not to Exceed
$1,500,000 Pursuant to An Indenture of Trust, Authorizing the Sale of Such
Bonds Upon Certain Terms and Conditions, Approving an Official Statement,
Approving the Execution of an Escrow Agreement, A Purchase Contract and a
Commitment Agreement and Purchase Contract for the Purchase and Sale of
Local Obligations of the City of Lake Elsinore Community Facilities District No.
95 -1 (Lake Elsinore City Center Public Improvements) and Taking Other Actions
Related Thereto
Recommendation: It is recommended that the Public Financing Authority adopt
PFA Resolution No. 2011 -03 authorizing issuance of bonds and bond
documents.
Motion by Vice -Chair Tisdale, seconded by Authority Member Melendez to approve and
adopt Resolution No. 2011 -03 was approved by unanimous vote.
EXECUTIVE DIRECTOR COMMENTS
None.
LEGAL COUNSEL COMMENTS
None.
AUTHORITY MEMBER COMMENTS
None.
ADJOURNMENT
There being no further business to come before the Public Financing Authority,
Chairman Hickman adjourned the meeting at 10:26 p.m. which was held at the City's
Cultural Center at 183 N. Main Street, Lake Elsinore, CA.
Daryl Hickman, Chairman
Lake Elsinore Public Finance Authority
ATTEST:
Virginia J. Bloom, Authority Secretary
Lake Elsinore Public Finance Authority
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