HomeMy WebLinkAbout1992-03-26MINUTES
PALM DESERT FINANCING AUTHORITY MEETING
THURSDAY, MARCH 26, 1992
CIVIC CENTER COUNCIL CHAMBER
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I. CALL TO ORDER
Vice President convened the meeting at 5:35 p.m.
H. ROLL CALL
Present:
Commissioner Buford A. Crites
Commissioner Walter H. Snyder
Commissioner S. Roy Wilson
Vice President Jean M. Benson
Excused Absence:
President Richard S. Kelly
Also Present:
Bruce A. Altman, City Manager/Chief Administrative Officer
William Strausz, Agency Counsel
David J. Erwin, City Attorney
Sheila R. Gilligan, Authority Secretary
Carlos L. Ortega, ACM/RDA Executive Director
Ramon A. Diaz, ACM/Director of Community Development
Paul Shillcock, ACM/Director of Economic Development
Paul Gibson, Finance Director/City Treasurer
Frank Allen, Director of Code Compliance
Pat Conlon, Director of Building and Safety
Dave Millheim, Director of Human Resources
Joseph Gaugush, Acting Director of Public Works
John Wohlmuth, Environmental Conservation Manager
111. ORAL COMMUNICATIONS
None
MINUTES
PALM DESERT FINANCING AUTHORITY MEETING MARCH 26, 1992
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rv. NEW BUSINESS
A. CONSIDERATION OF THE ISSUANCE OF BONDS BY THE FINANCING
AUTHORITY TO FINANCE REDEVELOPMENT AGENCY PROJECTS.
With Council concurrence, this item was held until after completion of the Palm Desert City
Council public hearings.
Vice President Benson recessed the meeting at 5:38 p.m. and reconvened at 7:15 p.m.
Mr. Ortega reviewed the staff report, noting that the Financing Authority would be
used as a conduit to provide financing for Redevelopment Agency projects. He
recommended adoption of the two resolutions.
Commissioner Crites moved to: 1) Waive further reading and adopt Resolution No. FA-5,
authorizing the sale and issuance of its tax allocation revenue bonds for Project Area No. 1, as Amended,
2) waive further reading and adopt Resolution No. FA-6, authorizing the sale and issuance of its tax
allocation revenue bonds for Project Area No. 2. Motion was seconded by Wilson and carried by
unanimous vote of the Financing Authority Board.
V. CONTINUED BUSINESS
None
VI. OLD BUSINESS
None
VII. REPORTS, REMARKS, AND AGENCY BOARD ITEMS REQUIRING ACTION
A. EXECUTIVE DIRECTOR
None —
B. AGENCY COUNSEL
None
C. CHAIRMAN AND MEMBERS OF THE AGENCY
None
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MINUTES
PALM DESERT FINANCING AUTHORITY MEETING MARCH 26, 1992
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VIII. ADJOURNMENT
Upon motion by Crites, second by Wilson, and unanimous vote of the Authority Boaid, Vice
President Benson adjourned the meeting at 7:20 pm.
ATTEST:
SHEILA R. GItLIGAN, RETARY TO THE
PALM DESE.J I•IN ' NG AUTHORITY
BENSON, VICE PRESIDENT
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