HomeMy WebLinkAbout2/16/2005 - STAFF REPORTS (6) CITY 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, 1Chairr�man declared the meeting adjourned.
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PATRICIA A. SANDERS
Authority Secretary
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CITY OF PALM SPRINGS
FINANCING AUTHORITY MINUTES
APRIL 21, 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 16, 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 Dr. Jim Tom —
United Methodist Church
REPORT OF POSTING OF AGENDA: Acting Authority Secretary reported the agenda was
posted in accordance with established procedures on April 16, 2004,
PUBLIC COMMENTS: None
PUBLIC HEARINGS: None
LEGISLATIVE ITEM:
Member Mills declared Conflict of Interest due to personal reasons and exited the Chamber.
FA1. REFINANCE 1994 BONDS BY ISSUANCE OF BONDS BY COMMUNITY
REDEVELOPMENT AGENCY
Recommendation: That the Authority approve the execution and delivery of Merged
Project No. 1 Tax Allocation Bonds, 2004 Series A in principal amount not to exceed
$16,000,000 and Merged Project No. 2 Tax Allocation Bonds, 2004 Series B in
principal amount not to exceed $10,000,000 for the purpose of prepaying seven
loans of the Agency which will be used to redeem the Authority's 1994 Local Agency
Revenue Bonds, Series A & B and raising approximately $5,000,000 for new
projects. Bond documents on file in the Office of the City Clerk.
Director of Community & Economic Development reviewed the staff report.
Resolution FA 30 as recommended was presented; after which, it was moved by
Pougnet, seconded by Foat, and carried by the following vote that FA30 be adopted.
AYES: Members Foat, McCulloch, Pougnet, and Chairman Oden
NO: None
ABSENT: Member Mills
Member Mills reentered the Chamber.
CPS Fin Auth Minutes
4-21-04, Page 2
ADJOURNMENT:
There being no further business, Chairman declared the meeting adjourned.
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KATHIE HART
Acting Authority Secretary
PATRICIA A. SANDERS
Authority Secretary
MINUTES OF
CITY OF PALM SPRINGS
FINANCING AUTHORITY
MAY 5, 2004
A Regular Meeting of the Financing Authority of the City of Palm Springs, California, was
called to order by Mayor Oden, in the Council Chamber, 3200 Tahquitz Canyon Way, on
Wednesday, May 5, 2004, at 5:00 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: Authority Members Foat, McCulloch, Mills, Pougnet,
and Chairman Oden
Absent: None
REPORT OF POSTING OF AGENDA: City Clerk reported that the agenda was posted in
accordance with Council procedures on April 30, 2004.
The following is a combined minute entry for the Financing Authority and City Council.
PUBLIC COMMENTS: None
FA1. CONVENTION CENTER BOND ISSUE
Recommendation: That the Authority/Council pledge property located north of the
Convention Center as part of the Convention Center Bond Issue.
Director of Finance and Treasurer reviewed the staff report.
Resolution 31 as recommended was presented; after which, it was moved by Mills,
seconded by Foat and unanimously carried, that R31 be adopted.
Resolution 20914 as recommended was presented; after which, it was moved by Mills,
seconded by Foat and unanimously carried, R20914 be adopted.
ADJOURNMENT:
There being no further business, Chairman declared the meeting adjourned.
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PATRICIA A. SANDERS
Authority Secretary