HomeMy WebLinkAbout2009-06-25MINUTES
PALM DESERT FINANCING AUTHORITY MEETING
THURSDAY, JUNE 25, 2009
CIVIC CENTER COUNCIL CHAMBER
73510 FRED WARING DRIVE, PALM DESERT, CA 92260
I. CALL TO ORDER - 3:00 P.M.
President Spiegel convened the meeting at 3:00 p.m.
11. ROLL CALL
Present: Excused Absence:
Commissioner Jean M. Benson Commissioner Richard S. Kelly
Commissioner Jim Ferguson arrived at 3:04 p.m.
Vice President Cindy Finerty
President Robert A. Spiegel
Also Present:
John M. Wohlmuth, 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
Rachelle D. Klassen, City Clerk
Bo Chen, City Engineer
Russell Grance, Director of Building & Safety
Lauri Aylaian, Director of Community Development
Patrick Conlon, Director of the Office of Energy Management
Paul S. Gibson, Director of Finance/City Treasurer
Mark Greenwood, Director of Public Works
Frankie Riddle, Director of Special Programs
Steve Brooker, Battalion Chief, Palm Desert Fire/Riverside Co. Fire Dept./Cal Fire
Andrew Shouse, Asst. Chief, Palm Desert Police/Riverside Co. Sheriffs Dept.
Grace L. Mendoza, Deputy City Clerk
With Authority Board concurrence, President Spiegel adjourned the meeting to
Closed Session of the City Council at 3:01 p.m. He reconvened the meeting at
4:00 p.m.
MINUTES
PALM DESERT FINANCING AUTHORITY MEETING JUNE 25, 2009
III. CONSENT CALENDAR
A. MINUTES of the Financing Authority Meeting of February 12, 2009.
Rec: Approve as presented.
Upon a motion by Ferguson, second by Finerty, and 4-0 vote of the Authority Board
with Kelly ABSENT, the Consent Calendar was approved as presented.
IV. CONSENT ITEMS HELD OVER
None
V. RESOLUTIONS
None
VI. NEW BUSINESS
None
VII. CONTINUED BUSINESS
None
VIII. OLD BUSINESS
None
IX. PUBLIC HEARINGS
A. CONSIDERATION OF THE AUTHORIZATION OF ISSUANCE OF THE
PALM DESERT FINANCING AUTHORITY'S ENERGY INDEPENDENCE
PROGRAM, VARIABLE RATE DEMAND LEASE REVENUE BONDS,
SERIES 2009 (FEDERALLY TAXABLE), AND APPROVAL OF RELATED
DOCUMENTS (JOINT CONSIDERATION WITH THE PALM DESERT CITY
COUNCIL).
Mr. Gibson stated the Council requested this item go out to bid on a Request
for Proposal. A committee of nine members reviewed the bids, and the
recommendation of that committee was Wells Fargo. All the related
documents are presented for Council to move ahead, and if approved,
July 23rd would be the date for the bonds to be issued. Responding to
question, he confirmed the Audit, Investment and Finance Committee
reviewed this item and approved it unanimously.
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MINUTES
PALM DESERT FINANCING AUTHORITY MEETING JUNE 25, 2009
Mayor/President Spiegel declared the public hearing open and invited anyone
wishing to address the City Council/Authority Board on this matter to come forward
at this time. With no public testimony offered, the public hearing was closed.
Mayor Pro Tem/Vice President Finerty moved to waive further reading and adopt:
1) Financing Authority Resolution No. FA-63, authorizing the issuance, sale, and delivery
of the Authority's Energy Independence Program, Variable Rate Demand Lease Revenue
Bonds, Series 2009 (Federally Taxable); approving as to form and authorizing the
execution and delivery of certain documents in connection therewith; and authorizing
certain other matters relating thereto; 2) City Council Resolution No. 09-53, making a
finding of significant public benefit, approving as to form and authorizing the execution and
delivery of certain documents in connection with the sale and issuance of the Palm Desert
Financing Authority's Energy Independence Program, Variable Rate Demand Lease
Revenue Bonds, Series 2009 (Federally Taxable), and authorizing certain other matters
relating thereto. Motion was seconded by Ferguson and carried by a 4-0 vote, with Kelly
ABSENT.
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
None
XII. ADJOURNMENT
With Authority Board concurrence, President Spiegel adjourned the meeting at
5:28 p.m.
ROBERTA. SPIEGE , PR ID NT
ATTEST:
RACHELLE D. KLASSERI", SECRETARY
PALM DESERT FINANCE AUTHORITY
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