HomeMy WebLinkAbout1991 - MINUTES - 3/12/1991 MINUTES OF
CITY OF PALM SPRINGS
CITY COUNCIL
AND CITY OF PALM SPRINGS FINANCING AUTHORITY
MARCH 12, 1991
An Adjourned Regular Meeting of the City Council , of the City of
Palm Springs, California, and of the City of Palm Springs Financing
Authority, were called to order by Mayor/Chairman Bono in the
Council Chamber, 3200 Tahquitz Canyon Way, on Tuesday, March 12,
1991, at 3 p.m.
ROLL CALL: Present: Council/Board Members Broich, Hodges,
Murawski , Neel and Mayor/Chairman Bono
Absent: None
REPORT OF POSTING OF AGENDA:
Report of City Clerk: Agenda posted in accordance with
Council procedures on March 8, 1991.
PUBLIC COMMENTS:
a) Mary Duncan, Desert Ventures, stated that the trolleys
will be operating during Easter Week, and she was
willing to help transport people, and would contact
the appropriate persons.
LEGISLATIVE ACTION:
1. CONVENTION CENTER FINANCING
Recommendation: That the Council and P.S. Financing
Authority adopt specific actions concerning matters related
to refinancing the existing Convention Center debt, and
financing the expansion.
City Treasurer noted that there are several documents
which do not contain exact figures, including bond insurance
and interest rate; that in one instance the maximum rate
will be 7.5%; and that of the $50 million issue, $12 million
represents the Convention Center Expansion, and the balance
is a refinancing of the existing debt; that the decision (139-
to refinance the existing debt simplified the expansion �n�)
financing without a lot of legal problems because of the
way in which the leases were originally structured; that
the recent low rate for the Airport issue was because
it was a short-term issue of 18 months; that if the proposed
issue were done at this time, the rate would be 7% or
less; and the window for completing the transaction closes
about April 4, 1991.
Mayor/Chairman stated that the trepidations he previously
stated still stand regarding a deadline requirement
predicated on IBM coming through for the next seven years;
that he was hopeful it would happen, but recognized the
heavy responsibility on SENCA to make that delivery; that
without the seven year package, the City will have an
expanded facility and nothing supporting it; that he is
also concerned about the construction deadline, and based
on his experience, it rarely comes in on time, and IBM
has said that future commitment is based on completing
the project on schedule.
Council/PSFA Minutes - 390
3-12-91 Page 2
1. CONVENTION CENTER FINANCING (Continued)
City Clerk read title of Ordinance, as follows:
AN ORDINANCE OF THE CITY OF PALM SPRINGS APPROVING A
SITE AND FACILITIES LEASE AGREEMENT AND A LEASE AGREEMENT
BETWEEN THE CITY OF PALM SPRINGS AND THE CITY OF PALM
SPRINGS FINANCING AUTHORITY.
Resolution 17449 (Council ) , authorizing execution of trust
agreement, lease agreement and other documents relating
to the convention center facilities and with respect to
the City of Palm Springs Financing Authority Revenue Bonds,
1991 Series A; Resolution 003 (Authority) authorizing
the said revenue bonds, and the preliminary official
statement (including distribution, execution, and delivery
thereof) , trust and other agreements, discharge of sublease
and of site and facilities sublease, authorizing sale
of the bonds on certain terms and conditions, and other
official actions relating thereto; were presented; after
which, it was moved by Broich, seconded by Murawski , and
unanimously carried, that further reading of the ordinance
be waived, and the ordinance introduced for first reading;
that Resolution 17449 be adopted by the Council ; and that
Resolution 003 be adopted by the Authority.
Chairman declared the Authority adjourned.
2. SPRING BREAK ADDITIONAL LAW ENFORCEMENT
Recommendation: That the Council approve agreements with
CHP and the Riverside Sheriff for additional law enforcement
during Spring Break, 1991, for $42,517 and $131,663,
Agr 2964 and 2965, respectively.
Police Chief recommended approving the agreements, and (113-
noted that the amounts are maximum estimates, and the 001)
agencies will only be scheduled to provide service as
needed.
Minute Orders 4723 and 4724, as recommended, respectively,
were presented; after which, it was moved by Broich,
seconded by Neel , and unanimously carried, that M04723
and 4724 be adopted.
ADDED STARTER:
3. CONVENTION CENTER STEEL FABRICATION - CHANGE ORDERS
Recommendation: That the Council approve Change Orders
1 and 2 ($5,000 and $15,430, respectively) to agreement
with Riverside Steel , for a total revised purchase of
$673,430, for structural steel components for the
Convention Center Expansion - Agr 2955.
It was moved by Broich, seconded by Murawski , and (139-
unanimously carried, that this item be determined eligible 004)
for consideration, and added to the agenda.
Director of General Operations reviewed his report, noting
that C01 relates to quality control and inspection services
for steel joists, and CO2 provides for steel items to
be used during construction, but capitalizes on the unit
price of the original bid rather than having the general
contractor procure those items at a later date.
" Council Minutes
3-12-91 Page 3
3. CONVENTION CENTER STEEL CHANGE ORDERS (Continued)
Purchasing Manager stated that the steel contract is in
three phases: fabrication, catwalks, and erection; that
the fabrication per unit prices allowed procuring additional
items at a price the general contractor would not receive,
because the tonnage at that time would be considerably
less than the tonnage at time of fabrication; that the
fabrication cost under the Riverside Steel bid will be
increased, but it will be folded into the overall amount
paid to the general contractor, and in the long-run result
in a lower amount than if the general contractor had to
procure the steel at a higher price.
Minute Order 4725 approving Change Orders 1 and 2, as
recommended, was presented; after which, it was moved
by Broich, seconded by Murawski , and unanimously carried,
that M04725 be adopted.
ADJOURNMENT
There being no further business, Mayor declared the meeting
adjourned.
n
JUDITH SUMICH
City Clerk