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HomeMy WebLinkAbout2004-10-28MINUTES PALM DESERT FINANCING AUTHORITY MEETING THURSDAY, OCTOBER 28, 2004 CIVIC CENTER COUNCIL CHAMBER I. CALL TO ORDER President Spiegel convened the meeting at 3:00 p.m. II. ROLL CALL Present: Commissioner Jean M. Benson Vice President Buford A. Crites Commissioner Jim Ferguson Commissioner Richard S. Kelly President Robert A. Spiegel Also Present: Carlos L. Ortega, City Manager/RDA Executive Director David J. Erwin, City Attorney Sheila R. Gilligan, ACM for Community Services Homer Croy, ACM for Development Services Justin McCarthy, ACM for Redevelopment Stephen Y. Aryan, Assistant to the City Manager Rachelle D. Klassen, City Clerk Mark D. Greenwood, City Engineer Philip Drell, Director of Community Development Paul S. Gibson, Director of Finance/City Treasurer Michael J. Errante, Director of Public Works David Yrigoyen, Director of Redevelopment & Housing Robert P. Kohn, Director of Special Programs Duane K. Munson, Interim Director of Human Resources Commissioner Ferguson moved to adjourn the meeting to Closed Session of the City Council and Redevelopment Agency at 3:01 p.m. Motion was seconded by Crites and carried by a 5-0 vote. President Spiegel reconvened the meeting at 4:03 p.m. MINUTES PALM DESERT FINANCING AUTHORITY MEETING OCTOBER 28, 2004 III. CONSENT CALENDAR A. MINUTES of the Financing Authority Meeting of May 27, 2004. Rec: Approve as presented. B. REQUEST FOR APPROVAL of the City of Palm Desert "Statement of Investment Policy 2005" (Joint Consideration with the Palm Desert City Council and the Palm Desert Redevelopment Agency). Rec: By Minute Motion, approve the "Statement of Investment Policy 2005," as amended. C. REQUEST FOR APPROVAL of the Renewal of the Banking and Custodial Relationship Between the City of Palm Desert and Union Bank of California (Contract No. C12211) (Joint Consideration with the Palm Desert City Council and the Palm Desert Redevelopment Agency). Rec: By Minute Motion, approve renewal of the City's banking and custodial relationship with Union Bank of California for another five years. D. REQUEST FOR APPROVAL of the Corporate Trust Relationship Between the City of Palm Desert and the Bank of New York (Contract No. C17631) (Joint Consideration with the Palm Desert City Council and the Palm Desert Redevelopment Agency). Rec: By Minute Motion, concur with the recommendation of the Investment & Finance Committee and renew the Corporate Trust Agreement between the Bank of New York and the City of Palm Desert for another five years, subject to the review and approval of the City Attorney. Upon motion by Ferguson, second by Kelly, the Consent Calendar was approved as presented by a 5-0 vote. IV. CONSENT ITEMS HELD OVER None 2 MINUTES PALM DESERT FINANCING AUTHORITY MEETING OCTOBER 28, 2004 V. RESOLUTIONS None VI. NEW BUSINESS None VII. CONTINUED BUSINESS None VIII. OLD BUSINESS None IX. PUBLIC HEARINGS None X. REPORTS, REMARKS, AND AGENCY BOARD ITEMS REQUIRING ACTION A. CHIEF ADMINISTRATIVE OFFICER None B. AUTHORITY COUNSEL None C. PRESIDENT AND MEMBERS OF THE AUTHORITY None XI. ORAL COMMUNICATIONS - C None 3 MINUTES PALM DESERT FINANCING AUTHORITY MEETING OCTOBER 28, 2004 XII. ADJOURNMENT Upon motion by Ferguson, second by Crites, President Spiegel adjourned the meeting at 7:30 p.m. ATTEST: ST �rr� R,4 HELLE D. KLASS N, SECRETARY PALM DESERT FINANCING AUTHORITY /1;Y-a ROBERT A. SPIEGE1, PP4 SIDENT 4