HomeMy WebLinkAbout2004 - MINUTES - 4/7/2004 - FINANCING AUTHORITY MINUTESCITY OF PALM SPRINGS
FINANCING AUTHORITY MINUTES
APRIL 7, 2004
A Regular Meeting of the Financing Authority of the City of Palm Springs, California, was
called to order by Chairman Oden, in the Council Chamber, 3200 Tahquitz Canyon Way,
on Wednesday, April 7, 2004, at 5:00 p.m., at which time, the Authority Counsel
announced items to be discussed in Closed Session, and at 7:00 p.m., the meeting was
convened in open session.
ROLL CALL: Present: Members Foat, McCulloch, Mills, Pougnet and Chairman
Oden
Absent: None
The meeting was opened with the Salute to the Flag, and an invocation by Shauna
Segundo – Baha’i Faith.
REPORT OF POSTING OF AGENDA: Authority Secretary reported the agenda was
posted in accordance with established procedures on April 2, 2004.
APPROVAL OF MINUTES:
It was moved by Mills, seconded by Oden and unanimously carried that the
Minutes of June 18, 2003 be approved.
PUBLIC COMMENTS: None
LEGISLATIVE ITEM:
FA1. CONVENTION CENTER EXPANSION PHASE II
2004 SERIES A LEASE REVENUE BONDS
Recommendation: That the Authority authorize and direct the issuance and sale
of $65,000,000 aggregate principal of Lease Revenue Bonds, 2004 Series A;
approve a Preliminary Official Statement; authorize execution and delivery of an
Official Statement, Supplemental Trust Agreement 3, Supplemental Lease
Agreement 4, Bond Purchase Agreement and Escrow Deposit Agreement.
Director of Finance & Treasurer reviewed the staff report.
Resolution 29 as recommended was presented; after which, it was moved by
Mills, seconded by McCulloch and unanimously carried, that R29 be adopted.
ADJOURNMENT:
There being no further business, Chairman declared the meeting adjourned.
PATRICIA A. SANDERS
Authority Secretary