HomeMy WebLinkAbout1981-03-25HUNTINGTON BEACH PUBLIC FACILITIES CORPORATION
MINUTES
Meeting of March 25, 1981
The Regular Meeting of the Board of Directors of the Huntington
Beach Public Facilities Corporation was called to order by Vice
President Wamhoff at the City Corporation Yard, Huntington Beach
California at 3:00 P.M. on March 25, 1981.
There were present from the Board:
Houseal Wamhoff Nowlin Teixeira
Absent from the Board:
Sapp
Also attending:
D.W. Kiser, Assistant Secretary
Dan Villella, Assistant Director of Finance
In the absence of President Sapp, the meeting was called to
order by Vice President Wamhoff. Roll call was taken as recorded
above with Mrs. Houseal arriving at 3:18 P.M., after roll call.
The January 28, 1981 Minutes were approved as presented.
After discussion, motion was made and seconded to approve the
January 1981 Treasurer's Report. The motion carried.
The next item on the agenda was HBPFC Paying Agents. Mr. Kiser
informed the Board that a letter had been received from Bank .of
America advising the Board that the co -paying agent bank in Chicago
will increase their fees for paying bonds and coupons for existing
or new bond issue. Mr. Kiser has researched the Indenture of
Mortgage and,Deed of Trust to see if specific banks were mentioned.
They are not, however, Covenant 16 obligates the Corporation to
maintain a paying agent in Chicago, as well as Los Angeles and New
York.
The Board was also informed of a letter from Bank of America,
dated March 9, 1981, stating that effective March 1, 1981, a service
charge of $50.00 will be made for each investment other than Bank of
America issued securities or Bank of America Certificates of Deposit.
The service charge will be added.to the semi-annual statement of fees
as an out-of-pocket expense item. Mrs. Houseal will call the Trust
Officer of Bank of America to clarify the above service charge and
will report her findings to the.Board at the next meeting.
General information was presented to the Board regarding the
replacement of the gasoline storage tank at the Police Department.
The Civic Center Report was given by Mr. Kiser. He stated that
the basement was flooded during the last rainstorm due to a plugged
storm drain but no damage was done inside the building.
The remodeling of the kitchen at the Central Library is almost
completed. The Friends of the Library have invited the PFC Board
Members to have their next meeting at the Library to see the kitchen.
The Board requested that a letter be sent to the Friends of the
Library accepting their invitation.
That being the last order of business, the meeting was adjourned
to the next Regular Meeting on May 27, 1981.
Respectfully submitted,
Mary A. Raid,- Recording Secy.
ACCEPTED:
erry ap , sident Mary ; en Houseal, Secy./Treasurer