HomeMy WebLinkAboutAGENDA 26 JUN 2014 FAPOSTED AGENDA
PALM DESERT FINANCING AUTHORITY MEETING
THURSDAY, JUNE 26, 2014
CIVIC CENTER COUNCIL CHAMBER
73510 FRED WARING DRIVE, PALM DESERT, CA 92260
I. CALL TO ORDER - 3:00 P.M.
II. ROLL CALL
Reports and documents relating to each of the following items listed on the agenda,
including those received following posting/distribution, are on file in the Office of the City
Clerk and are available for public inspection during normal business hours, Monday - Friday,
8:00 a.m. - 5:00 p.m., 73510 Fred Waring Drive, Palm Desert, CA 92260, (760) 346-0611.
III. CONSENT CALENDAR
ALL MATTERS LISTED ON THE CONSENT CALENDAR ARE CONSIDERED TO BE
ROUTINE AND WILL BE ENACTED BY ONE ROLL CALL VOTE. THERE WILL BE NO
SEPARATE DISCUSSION OF THESE ITEMS UNLESS MEMBERS OF THE FINANCING
AUTHORITY OR AUDIENCE REQUEST SPECIFIC ITEMS BE REMOVED FROM THE
CONSENT CALENDAR FOR SEPARATE DISCUSSION AND ACTION UNDER
SECTION IV, CONSENT ITEMS HELD OVER, OF THE AGENDA.
A. MINUTES of the Financing Authority Meeting of March 8, 2012.
Rec: Approve as presented.
Action:
IV. CONSENT ITEMS HELD OVER
V. RESOLUTIONS
None
POSTED AGENDA
PALM DESERT FINANCING AUTHORITY MEETING JUNE 26, 2014
VI. NEW BUSINESS
A. CONSIDERATION OF THE APPROPRIATION AND AUTHORIZATION FOR
THE DIRECTOR OF FINANCE/CITY TREASURER TO USE AND APPLY
$2.1 MILLION FROM THE ENERGY INDEPENDENCE FUND AND
APPROXIMATELY $2.5 MILLION FROM THE GENERAL FUND TO
PREPAY THE LEASE AGREEMENT WITH RESPECT TO, AND
REDEMPTION OF, THE OUTSTANDING PALM DESERT FINANCING
AUTHORITY ENERGY INDEPENDENCE PROGRAM, VARIABLE -RATE
DEMAND LEASE REVENUE BONDS, SERIES 2009 (FEDERALLY
TAXABLE) (JOINT CONSIDERATION WITH THE PALM DESERT CITY
COUNCIL).
Rec: By Minute Motion: 1) Appropriate and authorize the Director of
Finance/City Treasurer to use and apply $2.1 million from the Energy
Independence Fund and approximately $2.5 million from the
General Fund to prepay the Lease Agreement Between the City and
the Palm Desert Financing Authority with respect to, and redemption
of, the outstanding Palm Desert Financing Authority Energy
Independence Program, Variable -rate Demand Lease Revenue
Bonds, Series 2009 (Federally Taxable); 2) authorize the Mayor, City
Manager, and Director of Finance/City Treasurer to execute any
ancillary documents necessary to effectuate the actions taken
herewith.
Action:
VII. CONTINUED BUSINESS
None
VIII. OLD BUSINESS
None
IX. PUBLIC HEARINGS
None
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POSTED AGENDA
PALM DESERT FINANCING AUTHORITY MEETING JUNE 26, 2014
X. REPORTS, REMARKS, AND AUTHORITY BOARD ITEMS REQUIRING ACTION
A. CHIEF ADMINISTRATIVE OFFICER
B. AUTHORITY COUNSEL
C. PRESIDENT AND MEMBERS OF THE AUTHORITY
Xl. ORAL COMMUNICATIONS - C
Any person wishing to discuss any item not scheduled for public hearing may address the
City Council, Successor Agency to the Palm Desert Redevelopment Agency, Housing
Authority, or Financing Authority Boards at this point by stepping to the lectern and giving
his/her name and address for the record. Remarks shall be limited to a maximum of three
minutes unless additional time is authorized by the City Council, Successor Agency to the
Palm Desert Redevelopment Agency, Housing Authority, or Financing Authority Boards.
Because the Brown Act does not allow the City Council, Successor Agency to the
Palm Desert Redevelopment Agency, Housing Authority, or Financing Authority Boards to
take action on items not on the Agenda, members will not enter into discussion with
speakers but may briefly respond or instead refer the matter to staff for report and
recommendation at a future City Council, Successor Agency to the Palm Desert
Redevelopment Agency, Housing Authority, or Financing Authority meeting.
XII. ADJOURNMENT
I hereby certify under penalty of perjury under the laws of the State of California, that the foregoing
agenda for the Palm Desert Financing Authority was posted on the City Hall bulletin board not less
than 72 hours prior to the meeting. Dated this 20th day of June, 2014. Note: This agenda is
subject to amendment up to 72 hours in advance of the meeting.
Rachelle D. Klassen, City Clerk
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