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Home My WebLink About09-14-1993 PFA MINUTES PUBLIC FINANCE AUTHORITY MEETING CITY OF LAKE ELSINORE 31315 CHANEY STREET LAKE ELSINORE, CALIFORNIA TUESDAY, SEPTEMBER 14, 1993 ******************************************************* CALL TO ORDER The Public Finance Authority Meeting was called to order by Chairman winkler at 7:35 p.m. ROLL CALL PRESENT: AUTHORITY MEMBERS: ALONGI, CHERVENY, DOMINGUEZ, WASHBURN, WINKLER ABSENT: AUTHORITY MEMBERS: NONE Also present were: Executive Director Molendyk, Legal Counsel Harper, Administrative Services Director Boone, city Planner Leslie, Community Services Director Sapp, Public Services Director Tecca, Manager of Special Projects Watenpaugh, Special Projects Coordinator Wood and Clerk of the Authority Kasad. CONSENT CALENDAR - a. Stadium Financing Resolution Nos. PFA 93-2 and PFA 93-3. Legal Counsel Harper indicated Resolution No. PFA 93-2 should approval of the final agreement Counsel to the Authority. that be by action on subject to the Legal MOVED BY DOMINGUEZ, SECONDED BY WASHBURN AND CARRIED BY A VOTE OF 4 TO 1 WITH CHERVENY CASTING THE DISSENTING VOTE TO ADOPT RESOLUTION NO. PFA 93-2 SUBJECT TO LEGAL COUNSEL APPROVAL AND ADOPT RESOLUTION NO. PFA 93-3 AS PRESENTED. RESOLUTION NO. PFA 93-2 A RESOLUTION OF THE LAKE ELSINORE PUBLIC FINANCING AUTHORITY AUTHORIZING AND DIRECTING THE EXECUTION OF AN EXCLUSIVE UNDERWRITING AGREEMENT. RESOLUTION NO. PFA 93-3 A RESOLUTION OF THE LAKE ELSINORE PUBLIC FINANCING AUTHORITY AUTHORIZING ISSUANCE BY THE AUTHORITY OF ITS 1993 SERIES A SUBORDINATE TAX ALLOCATION REVENUE NOTES (LAKE ELSINORE REDEVELOPMENT PROJECTS) AND OF ITS 1993 SERIES B SUBORDINATE TAXABLE TAX ALLOCATION NOTES (LAKE ELSINORE REDEVELOPMENT PROJECTS), AUTHORIZING SALE OF NOTES PAGE TWO - PUBLIC FINANCE MINUTES - SEPTEMBER 14, 1993 UPON CERTAIN TERMS AND CONDITIONS, APPROVING OFFICIAL STATEMENT RELATING TO THE NOTES, APPROVING LOAN AGREEMENTS RELATING TO THE PROCEEDS OF THE NOTES, AND APPROVING OTHER MATTERS PROPERLY RELATING THERETO. ADJOURNMENT - MOVED BY DOMINGUEZ, SECONDED BY WASHBURN AND CARRIED BY UNANIMOUS VOTE TO ADJOURN MEETING AT 7:36 P.M. A TEST: CJ -~L~ VICKI KA~~' CLERK OF THE AUTHORITY PUBLIC FINANCE AUTHORITY THE p. UBL.IC F.IINN~ ~.. HORITY ~tU JIM WINKLER, CHAI PUBLIC FINANCE AUTHORITY - - MINUTES SPECIAL PUBLIC FINANCE AUTHORITY MEETING CITY OF LAKE ELSINORE 130 SOUTH MAIN STREET LAKE ELSINORE, CALIFORNIA WEDNESDAY, OCTOBER 6, 1993 --- ******************************************************************* CALL TO ORDER The Special Public Finance Authority Meeting was called to order by Chairman Winkler at 3:00 p.m. PLEDGE OF ALLEGIANCE The Pledge of Allegiance was led by Chairman winkler. ROLL CALL PRESENT: AUTHORITY MEMBERS: CHERVENY, DOMINGUEZ, WASHBURN, WINKLER ABSENT: AUTHORITY MEMBERS: ALONGI Also present were: Administrative Services Director Boone, Community services Director Sapp, Manager of Special Projects watenpaugh, Special Projects Coordinator Wood and Clerk of the Board Kasad. BUSINESS ITEM 1. Resolution No. PFA 93-4 - Determininq to Imolement a Plan of Refinancinq for the Authority's 1990 Local Aqency Revenue Bonds. Series B. and providinq Other Matters Prooerlv Relatinq Thereto. Special Projects Coordinator Wood explained that with the Development Agreement on Tuscany Hills, the Redevelopment Agency provided a security pledge of $2 million. He further explained that in order to enhance the ability to finance the Stadium it would be helpful to refund the Series B pool, thereby eliminating the pledge. He noted that the Resolution agrees to a best effort to refinance the pool. MOVED BY WASHBURN, SECONDED BY DOMINGUEZ AND CARRIED BY A VOTE OF 3 TO 1 WITH CHERVENY CASTING THE DISSENTING VOTE AND ALONGI ABSENT TO ADOPT RESOLUTION NO. PFA 93-4. RESOLUTION NO. PFA 93-4 A RESOLUTION OF THE BOARD OF DIRECTORS OF THE LAKE ELSINORE PUBLIC FINANCING AUTHORITY DETERMINING TO IMPLEMENT A PLAN OF REFINANCING FOR THE AUTHORITY'S 1990 LOCAL AGENCY REVENUE BONDS, SERIES B, AND PROVIDING OTHER MATTERS PROPERLY RELATING THERETO. ADJOURNMENT MOVED BY WASHBURN, SECONDED BY DOMINGUEZ AND CARRIED BY UNANIMOUS VOTE OF THOSE PRESENT TO ADJOURN. TH. ESP. ECJ12AL UBLIC FINANCE AyrnORITY MEETING AT 3: 02 P.M. _ /_ /,') , t[JTEST CX~ {a · \ ~ . ~ JIM WINKLER, CHAIRMAN SAD~ PUBLIC FINANCE AUTHORITY CLERK OF THE BOARD