HomeMy WebLinkAbout1986-08-041
MINUTES
CIVIC IMPROVEMENT CORPORATION
Council Chamber, City Hall
Huntington Beach, California
Monday, August 4, 1986
Director Kelly called the Special Meeting of the City of Huntington Beach
Civic Improvement Corporation to order at 11:45 P.M.
The City Clerk was directed to read the Call for Special Meeting.
CALL FOR SPECIAL MEETING '
OF
CITY OF HUNTINGTON BEACH CIVIC IMPROVEMENT CORPORATION
Jack Kelly, Director
NOTICE IS HEREBY given that the Board of Directors of the City of Hunt-
ington Beach Civic Improvement Corporation, a nonprofit corporation organized
for public purposes (the "Corporation") will hold a special meeting on Monday,
August 4, 1986, at the hour of 7:30 p.m., or as soon thereafter as. possible,
at City Hall, 2000 Main Street, Huntington Beach, California. The business to
be transacted at said meeting consists of: (1) the approval of the Bylaws of
the Corporation; (2) the election of officers; (3) the designation of time and
place of regular meetings; (4) the authorization to file various state and
federal forms and other organizational matters; (5) the approval of the Corpo-
ration's participation in the sale -leaseback financing of the civic center
land and improvements, consisting generally of approval of the purchase of
such land and improvements from the City of Huntington Beach (the "City") pur-
suant to an Acquisition Agreement, the lease of such land and improvements
back to the City pursuant to a Lease Agreement, the execution and delivery of
not to exceed $20,000,000 principal amount of certificates of participation to
finance such purchase, pursuant to a Trust Agreement, the approval of a
related official statement and the sale of such certificates of participation;
and (6) all matters relating to the above.
Dated: July 21, 1986
CITY OF HUNTINGTON BEACH CIVIC
IMPROVEMENT CORPORATION
ALICIA M. WENTWORTH, CITY CLERK
Discussion was held regarding the filing of the incorporation papers for the
Huntington Beach Civic Improvement Corporation. The City Attorney clarified
the Government Code pertaining to the matter.
Chip Eady, Attorney -at -Law with Jones, Hall, Hill & White
assured Council they were not obligated up to this date.
Of, San Francisco,
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Page 2 -- Civic Improvement Corporation - 8/4/86
Discussion was;held between Council and'staff regarding the merits of utiliz-
ing the Public Facilities Corporation instead of creating a new corporation.
A motion was made by MacAllister, seconded by Bailey, to"adopt Resolution Nos.
86-2 through -`86-6 as prepared and to instruct the 'corporation's - legal counsel
to prepare the necessary changes .to the bylaws to allow for appointment of
individuals other than the City-Council'as' directors of the corporation and to
name the five members of the Public -Facilities Corporation. The motion failed
by the following roll call tie vote:
AYES: MacAllister; Mandic,'•'Bailey
NOES: Kelly, Green, Thomas
ABSENT: Finley
The Clerk presented Resolution 86-2 for consideration - "A RESOLUTION
ELECTING' OFFICERS "
The Clerk presented Resolution 86-3 for consideration - "A RESOLUTION
APPOINTING TIME AND PLACE OF REGULAR MEETINGS."
The Clerk presented Resolution 86-4 for consideration - "A RESOLUTION
APPROVING AND,AUTHORIZING EXECUTION - AND, `'FILING OF ' EXEMPTION 'APPLICATION TO
STATE FRANCHISE TAX :BOARD. " 1 • '
The Clerk presented Resolution 86-5 for consideration - "A RESOLUTION
APPROVING AND AUTHORIZING EXECUTION AND FILING OF VARIOUS FEDERAL FORKS."
The Clerk presented' Resolution •86-6 for -consideration - "A RESOLUTION OF
THE BOARD OF DIRECTORS OR THE CITY OF HUNTINGTON BEACH CIVIC IMPROVEMENT COR-
PORATION APPROVING PURCHASE AND LEASEBACK OF CIVIC CENTER LAND AND IMPROVE-
MENTS WITH THE CITY OF HUNTINGTON BEACH, APPROVING AND AUTHORIZING EXECUTION
OF RELATED ACQUISITION-'AGREENtNT, LEASE -AGREEMENTS' ASSIGNMENT AGREEMENT AND
TRUST AGREEMENT, APPROVING OFFICIAL STATEMENT AND SALE OF $20,000,000 CERTIFI-
CATES OF PARTICIPATION,"AND APPROVING•RELATED DOCUMENTS AND OFFICIAL'ACTION.ff
A motion was made' by Thomas, `seconded'by Green, to' 'adopt Resolutions Nos.
86-2 through 86-6.,' Followirig discussion; the' motion 'carried by the follow-
ing roll call vote: i . ` + ' ''
AYES: Kelly, Mandic, Green, Thomas
NOES: MacAllister, Bailey
ABSENT: Finley
HUNTINGTON BEACH CIVIC IMPROVEMENT CORPORATION ADJOURNMENT
President Mandic adjourned the Special Meeting of the Huntington Beach Civic
Improvement Corporation.
ATTEST:
Secretary
Pre sidhnt�y
D..