HomeMy WebLinkAbout2003 - MINUTES - 1/2/2003 FINANCING AUTHORITYMINUTES OF
CITY OF PALM SPRINGS
FINANCING AUTHORITY
JANUARY 2, 2003
A Regular Meeting of the Financing Authority of the City of Palm Springs, California, was
called to order by Chairman Kleindienst in the Council Chamber, 3200 Tahquitz Canyon
Way on Wednesday, January 2, 2003, at 7 p.m., at which time the City Attorney
Announced items to be discussed in Closed Session and at 7:00 p.m., the meeting was
convened in open session.
ROLL CALL: Present: Board Members Hodges, Mills, Oden, Reller-Spurgin, and
Chairman Kleindienst
Absent: None
REPORT POSTING OF AGENDA: City Clerk reported that the agenda was posted in
accordance with Council procedures on December 27, 2002.
The following is a combined minute entry for the Financing Authority and the City
Council.
PUBLIC COMMENTS: None
FA1. CONVENTION CENTER EXPANSION BOND ISSUE
Recommendation: That the Financing Authority and the Council approve a
resolution declaring its intent to reimburse expenditures from the proceeds of the
Convention Center Expansion tax exempt bond issue.
Director of Finance & Treasurer reviewed the staff report in detail, no further
report was given.
Resolution FA 26 as recommended was presented; after which, it was moved by
Oden, seconded by Mills and unanimously carried, that FA26 be adopted.
FA2. SERIES 1992 AIRPORT REVENUE BONDS
Recommendation: That the Financing Authority and the Council approve a
resolution declaring its intent to reimburse expenditures from the proceeds of the
refinancing of the 1992 Airport Revenue Bonds.
Director of Finance & Treasurer reviewed the staff report and in answer to
questions by Council stated that there is an advantage in refinancing to eliminate
the rate covenant.
Resolution FA 27 as recommended was presented; after which, it was moved by
Oden, seconded by Mills and unanimously carried, that FA27 be adopted.
ADJOURNMENT
There being no further business, Chairman declared the meeting adjourned.
PATRICIA A. SANDERS
Authority Secretary