HomeMy WebLinkAbout7/17/2002 - STAFF REPORTS MINUTES OF
FINANCING AUTHORITY
CITY OF PALM SPRINGS
APRIL 21, 1999
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, April 21,
1999, at 5:30 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:Members Barnes,Hodges, Oden,Reller-Spurgin and Chairman
Kleindienst
Absent: None
The Meeting was opened with the Salute to the Flag, and invocation by Reverend Shauna Segundo, Baha'i
Faith..
APPROVAL OF MINUTES:
It was moved by Oden,seconded by Reller-Spurgin, and unanimously carried,that the Minutes of
July 29, 1998,be approved.
PUBLIC COMMENTS:None
LEGISLATIVE ACTION:
1. SUPPLEMENT TO TRUST INDENTURE,PCF, SERIES 1998
Recommendation: That the Authority approve the Supplement to Trust Indenture for the 1998
Airport PFC Bonds to clarify that the total amount of PFC authorization, plus any remaining
revenue in the Special Redemption Account, will always exceed the remaining debt service on the
bonds.
Executive Director stated that item 1 and 2 were housekeeping items and reviewed the staff
reports.
Resolution 20 approving Supplement to Trust Indenture for the 1998 Airport PFC Bonds as
recommended was presented; after which, it was moved by Reller-Spurgin, seconded by Barnes,
and unanimously carried,that R20 be adopted;and
Resolution 21 approving amendment to the Supplemental Trust Agreement No. 1, 1998
Certificates of Participation ($3.065 million) to redefine the term "Reserve Requirement" to mean
the maximurn annual debt service was presented; after which, it was moved by Reller-Spurgin,
seconded by Barnes,and unanimously carried,that R21 be adopted.
ADJOURNMENT
There being no further business, Chairman declared the meeting adjourned.
JUDITH SUMICH
Secretary
BY: PATRICIA A. SANDERS
Assistant Secretary
MINUTES OF
FINANCING AUTHORITY
CITY OF PALM SPRINGS
JULY 25, 2001
An Adjourned Regular Meeting of the Financing Authority of the City of Palm Springs,
California, was called to order by Chairman Kleindienst, in the Large Conference Room,
3200 Tahquitz Canyon Way, on Wednesday, July 25, 2001, at 7:00 p.m.
ROLL CALL: Present: Authority Members Jones, Hodges, Oden, Reller-Spurgin,
and Chairman Kleindienst
Absent: None
The meeting was opened with the Salute to the Flag.
REPORT OF POSTING OF AGENDA: City Clerk reported that the agenda was posted in
accordance with Authority procedures on July 20, 2001.
PUBLIC COMMENTS: None
LEGISLATIVE ACTION:
1. 2001 SERIES A CONVENTION CENTER BONDS
Recommendation: That the Authority amend Resolution FA-22 reducing the
authorized principal amount of lease revenue refunding bonds, 2001 Series A
(Convention Center Project) from $40,000,000 to an amount not to exceed
$32,000,000.
Director of Finance & Treasurer stated this is a companion action taken by the
City Council on this date.
Resolution 24 as recommended was presented; after which, it was moved by
Reller-Spurgin, seconded by Jones, and carried by the following vote that R24
be adopted.
AYES: Jones, Reller-Spurgin and Kleindienst
NO: Hodges and Oden
ABSENT: None
ADJOURNMENT
There being no further business, Chairman declared the meeting adjourned,
PATRICIA A. SANDERS
Secretary