HomeMy WebLinkAboutPFA 14-339 Approval of MinutesREPORT TO PUBLIC FINANCING AUTHORITY
TO: HONORABLE CHAIR
AND MEMBERS OF THE PUBLIC FINANCING AUTHORITY
FROM: VIRGINIA J. BLOOM
AUTHORITY SECRETARY
DATE: NOVEMBER 12, 2014
SUBJECT: APPROVAL OF MINUTES
Recommendation
It is recommended that the Authority Board approve the minutes as submitted.
Discussion
The following Public Financing Authority Minutes are submitted for approval:
a) Public Financing Authority meeting of June 24, 2014
Prepared and
Approved by: Virginia J. Bloom, Authority Secretary
Approved by: Grant Yates, City Manager
Tuesday, June 24, 2014
CALL TO ORDER - 7:00 P.M.
City of Lake Elsinore
Meeting Minutes
Public Financing Authority
7:00 PM
Chairperson Johnson called the meeting to order at 8:49 p.m.
ROLL CALL
130 South Main Street
Lake Elsinore, CA 92530
www.lake-elsinore.org
Cultural Center
183 N. Main Street
Lake Elsinore, CA 92530
PRESENT: Authority Member Magee, Authority Member Johnson, Authority Member Manos,
Vice -Chair Tisdale, and Chairperson Hickman
Also present: City Manager Director Yates, City Attorney Leibold, City Clerk Bloom,
Administrative Services Director Simpson, Community Development Director Taylor, Planning
Manager MacHott, Public Works Director Damasse, Police Chief Hollingsworth, and Deputy
City Clerk Giron.
PRESENTATIONS - None
PUBLIC COMMENTS — None
CONSENT CALENDAR
2) ID# 14 -197 Approval of Proposed Minutes
Attachments: PFA Staff Rpt Minutes for Approval
2013 -12 -10 PFA Minutes
It is recommended that the Authority Board approve the minutes as submitted.
Motion by Authority Member Magee, second by Vice -Chair Tisdale, to approve the consent
item identified on the Consent Calendar, the motion passed by unanimous vote as follows:
AYES : Authority Member Magee, Vice -Chair Tisdale, Authority Member Johnson,
Authority Member Manos, and Chairperson Hickman
NOES None
ABSENT: None
ABSTAIN: None
City of Lake Elsinore Page 1
Public Financing Authority Meeting Minutes
PUBLIC HEARING(S) - None
APPEAL(S) - None
BUSINESS ITEMS)
June 24, 2014
3) ID# 14 -192 Joint Report to City Council and Public Financing Authority: Authorizing
the Special Tax Bond Issuance to Refund the Outstanding Bonds
Related to Improvement Area A and Improvement Area C of the City of
Lake Elsinore Community Facilities District No. 2003 -2 (Canyon Hills).
Attachments: 2014 -06 -24 JOINT City Council PFA Staff Report - Bond Issuance
RESOLUTION 2014 - CITY OF LAKE ELSINORE
RESOLUTION 2014 - LAKE ELSINORE PFA
INDENTURE OF TRUST
SECOND SUPPLEMENT TO FISCAL AGENT AGREEMENT
FISCAL AGENT AGREEMENT
ESCROW AGREEMENT 2004 BONDS
ESCROW AGREEMENT 2010 BONDS
PRELIMINARY OFFICIAL STATEMENT
BOND PURCHASE AGREEMENT
CONTINUING DISCLOSURE AGREEMENT
1.) City: Adopt Resolution No. 2014 -046 authorizing the issuance of the bonds
and bond documents.
2.) Public Financing Authority (PFA): Adopt Resolution No. PFA- 2014 -001
authorizing the issuance of bonds and bond documents.
Administrative Services Director introduced Michael Bush, CEO of Urban Futures, Inc. Mr.
Bush provided a joint overview of the refunding of Community Facilities District 2003 -2 for
Canyon Hills and municipal bond market to City Council and Public Finance Authority.
Motion by Council Member Hickman, second by Council Member Magee, to adopt Resolution
No. 2014 -046 authorizing the issuance of the bonds and bond documents, passed by
unanimous vote as follows:
AYES : Council Member Hickman, Council Member Magee, Council Member Tisdale,
Mayor Pro Tern Manos, and Mayor Johnson
NOES : None
ABSENT: None
ABSTAIN: None
City of Lake Elsinore Page 2
Public Financing Authority Meeting Minutes
June 24, 2014
Motion by Finance Authority Member Manos, second by Finance Authority Member Magee, to
adopt Resolution No. PFA- 2014 -001 authorizing the issurance of bonds and bond documents,
passed by unanimous vote as follows:
AYES : Authority Member Manos, Authority Member Magee, Authority Member Johnson,
Vice -Chair Tisdale, and Chair Hickman
NOES : None
ABSENT: None
ABSTAIN: None
EXECUTIVE DIRECTOR COMMENTS - None
LEGAL COUNSEL COMMENTS - None
AGENCY MEMBER COMMENTS - None
ADJOURNMENT
There being no further business to come before the Public Financing Authority, Chairman
Hickman adjourned the meeting at 9:00 p.m. which was held at the Cultural Center, 183 N.
Main Street, Lake Elsinore, California.
Daryl Hickman, Chairman
Lake Elsinore Public Finance Authority
Virginia J. Bloom, Authority Clerk
Lake Elsinore Public Finance Authority
City of Lake Elsinore Page 3