HomeMy WebLinkAbout11-08-2011 PFAMINUTES
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.
Public Finance Authority Minutes
Meeting of November 8, 2011
Page 2 of 2
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, La Elsinore, A.
G~
Daryl ickman, Chairman
Lake Elsinore Public Finance Authority
Virginia J. om, A hority'Secretary
Lake siit Pu lic Finance Authority