HomeMy WebLinkAbout1985-07-31HUNTINGTON BEACH PUBLIC FACILITIES CORPORATION
MINUTES
Meeting of July 31, 1985
The regular Meeting of the Board of Directors of the Huntington Beach
Public Facilities Corporation was called to order by President Nowlin at
the City of Huntington Beach Corporation Yard, Huntington Beach, California
at 3:10 p.m. on July 31, 1985.
There were present from the Board:
Houseal Nowlin Teixeira Wamhoff
Also attending:
Dan Villella, Financial Operations Administrator
Donald W. Kiser, Assistant Secretary
The meeting was called to order by President Nowlin. Roll call was taken
as recorded above. The May 29, 1985 Minutes were approved as presented.
Mrs. Houseal questioned the Total PFC Usable Balance of $2,464,972.50 as
noted on the May 31, 1985 Treasurer's Report. She stated that as of the
December 31, 1984 Treasurer's Report, the Usable Balance was $3,370,000.00,
January 1, 1985 it was $2,704,000.00 and today it is $2,464,000.00. She
questioned Dan Villella as to the decrease in the Usable Balance. Dan informed
the Board that there had been an inconsistency in reporting the Reserve Fund
and the Usable Balance in the past. It has now been corrected and includes the
bond indenture requirement and the Board's requirement of which approximately
1.2 million is restricted by the laws of the indenture as a reserve, and an
additional like amount is self-imposed by the Board. After much discussion,
the May 31, 1985 Treasurer's Report was approved.
The Board of Directors elected and appointed the following members of the
Corporation to be Directors for the term of one year; and also reaffirmed the
January 30, 1985 election of Officers, as noted.
D. L. Nowlin - Director - President
Anton Teixeira - Director - Vice President
Mary Ellen Houseal - Director - Secretary/Treasurer
William Wamhoff, Jr. - Director
The Board discussed interviewing, electing and appointing a Director to
fill the fifth membership vacancy. All agreed this should be done after the
Board of Directors has been reaffirmed by the City Council.
Mr. Kiser was called upon for the Civic Center Report. Some ceilings
have been replaced in the basement. The windows will be washed again. A
statue has been installed, which was received from our Sister City, Anjo,
Japan. There will be some carpet replaced during the upcoming year.
Next, the Central Library Report. Mr. Kiser informed the Board that a
transformer wire at the Central Library blew up on July 21, 1985, after being
installed. The wire was defective when installed. It has been replaced and
the transformer is back in service.
Mr. Nowlin read a passage from the Articles of Incorporation to the
Directors. This excerpt explained the purpose for which the Corporation was
formed. He explained his reason for reading this was that no place in the
purpose of the Corporation is there anything about providing a source of
revenue to the City. Mr. Nowlin then read another passage, which does not
indicate that the Corporation serves as a source of revenue to go into the
General Fund or the running of the City. He stated that he was replying to
a degree to the communication that the Board received at the Special Meeting
of June 17, 1985, where the City asked for money to be used for other than
what is called for in the Articles of Incorporation.
1985.
The meeting was adjourned to the next regular meeting of September 25,
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ACCEPTED:
D: L. Nowlin
President
�o � Idw, -
Mary A Jen s
Recording Secretary
Secretary/Treasurer
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