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Home My WebLink About1988-05-16 (12)HUNTINGTON BEACH PUBLIC FINANCING AUTHORITY Council Chamber, Civic Center Huntington Beach, California Monday, May 16, 1988 A tape recording of this meeting is on file in the City Clerk's Office Chairman Erskine called the Special Meeting of the Huntington Beach Public Financing Authority to order at 9:15 p.m. PUBLIC FINANCING AUTHORITY ROLL CALL Present: Kelly, Green, Erskine, Mays, Winchell Absent: Finley, Bannister Chairman Erskine announced that a joint meeting of the City Council/Redevel- opment Agency and the Huntington Beach Public Financing Authority had been called. COUNCIL/REDEVELOPMENT AGENCY ROLL CALL Present: Kelly, Green, Erskine, Mays, Winchell Absent: Finley, Bannister The Secretary was directed to read the Call for Special Meeting. NOTICE OF SPECIAL MEETING HUNTINGTON BEACH PUBLIC FINANCING AUTHORITY NOTICE IS HEREBY GIVEN that the Board of Directors of the Huntington Beach Public Financing Authority (the "Authority") will hold a special meeting on Monday, May 16, 1988, at the hour of 7 p.m., or shortly thereafter, at the Huntington Beach City Council Chambers, 2000 Main Street, Huntington Beach, California. The business to be transacted at said meeting consists of: (1) the election of officers and other organizational matters; (2) designation of the time and place of regular meetings of the Board of Directors; (3) consi- deration of the issuance and sale by the Authority of its bonds under the Marks -Roos Local Bond Pooling Act of 1985, being Article 4 (commencing with Section 6584) of the California Government Code, in the aggregate principal amount of not to exceed $30,000,000 to finance four loans to the Redevelopment Agency of the City of Huntington Beach (the "Agency"),, in the amount of not -to exceed $10,775,000 relating to the Main -Pier Redevelopment Project, the amount of not to exceed $3,500,000 relating to the Oakview Redevelopment Project, the amount of not to exceed $2,265,000 relating to the Talbert -Beach Redevelopment Project, and in the amount of not to exceed $13,460,000 relating to the Hunt- ington Center Commercial District Redevelopment Project, (4) consideration of the approval of the execution and delivery by the, Authority of certain Loan Agreements among the Authority, the Agency and a trustee named therein with respect to the loans described above, (5) consideration of the sale of the ;`bonds referred to above pursuant to a Purchase Contract by and among the Auth-- Page 2 - Public Financing Authority Minutes - 5/16/88 ority, the Agency and Stone & Youngberg, as underwriter, and (6) consideration of an Official Statement and other documentation and actions in connection with the issuance of said bonds and the making of said loans. Dated: May 6, 1988 HUNTINGTON BEACH PUBLIC FINANCING AUTHORITY BY /s/ Jack Kelly ......___ Board Member BY Is/ Ruth Finley Board Member BY /s/ Thomas J. Mays Board Member BY /s/ Grace H. Winchell Board Member A motion was made by Green, seconded by Mays, to adopt Public Financing Auth- ority Resolution No_i approving: (1)the four Loan Agreements, (2) the Offi- cial Statement., (3) the sale of the bonds to Stone and Youngberg; (4) the Pur- chase Contract, (5) the Indenture, (6) retention of Jones Hall Hill and White as bond counsel, {7}. authorizingthe issuance of the bonds and (8) appointing City Administrator and Deputy Administrator as officers of the Authority - "A RESOLUTION OF THE HUNTINGTON BEACH FINANCING AUTHORITY AUTHORIZING THE ISSU- ANCE OF NOT TO EXCEED $30,000,000 PRINCIPAL AMOUNT OF REVENUE BONDS RELATING TO MAIN -PIER REDEVELOPMENT PROJECT, OAKVIEW REDEVELOPMENT PROJECT, TALBERT- BEACH REDEVELOPMENT PROJECT AND HUNTINGTON CENTER COMMERCIAL DISTRICT REDEVEL- OPMENT PROJECT, AUTHORIZING AND DIRECTING EXECUTION OF RELATED INDENTURE OF TRUST AND LOAN AGREEMENTS, AUTHORIZING SALE OF BONDS, APPROVING OFFICIAL STATEMENT, ENGAGING BOND COUNSEL, APPOINTING EXECUTIVE DIRECTOR AND DEPUTY EXECUTIVE DIRECTOR, AND AUTHORIZING OFFICIAL ACTION. and to adopt Public Financing Authority Resolution 2 establishing the time.and place of the Pub- lic Finance Authority's annual meeting (in conjunction with the City Council's meeting the third Monday in December each year) -- "A RESOLUTION OF THE HUNT- INGTON BEACH FINANCING AUTHORITY DESIGNATING TIME AND PLACE OF REGULAR MEET- INGS." The motion carried by the following roll call vote: AYES: Kelly, Green, Erskine, Mays, Winchell NOES: None ABSENT: Finley, Bannister ADJOURNMENT - PUBLIC FINANCING AUTHORITY The Chairman declared the Special Meeting Financing Authority adjourned. ATTEST: o Secretary of the 'Huntington Beach Public Secretary ""_4 le"I'l U/ Chairman 11 e:: c Oil- } NOTICE OF SPECUkL LTif'.ETI G HUNTLN TI`U\ -REACH PZIFLIC FI\ A CLvCr .iLi'I'1I01 ITY CTICI 71 la-ERl sit the +,c+rc oT ?3irect. s o� =he lluntington Beach pllbsli F]iA TiC1Iln Authority (t}i hijiu, e spo e.1 , Meting on i4londay, May 16, 1988, at the r_oi,r of :00 p._+_., or sho>Ll tl-ercafter, at t_ne Hniitin `ton Beaa�li C;ty- Council Chambers, 2000 NMaiu Strout, Hrmtin ton Beach, C',Ihfo-crda, The tea be transacted at ,Bald nn�retinrg consists of: (1) the elecI oT,, of officers acid rather orba.nizatic.nal utters; (2) designation of t=.e time and place of reb star Treetirigs rjt' the Boars' Of Directors; i3) of the. issuarLce. and sale by the Authority of ir; bonds undo the Nlarks-Roos Local Bond. Poolino Act of 1985, being article 4 (corame;.lcir=Q ;Gitl= Section 6584) of the Cal; ornia Goverrirneat Code, in the aggregate principal 3'm mt. of not. to exceed $30,000,001) to Eluaz ce. four loans to thf' Rede ulolrme�nt :agency of the City- ��f Htultiilgron Bc>ac.lt (the 'Agency" ill" tl e arlc1irit of not to c� ceecl �10, !'r',�,Oi1ir relating to tho Main -Piet Redeveiopmu nt Project, the aTi.:ount of not to exceed 4"'13;500,600 relating t:) the Oak-vie.:v Redevelopment Project, the emotuit of not to e-seed $2,2063,000, relathiig to the Talbert -Beach Rodovelopment Project, and in the ai:Liu- it of not to exceed ,-13,460,000, relatin to the Huntington Center Com'merciat Di--.trict Rede,'elopmeiit Project, (4) considenatior, of the approval of the execcltio.n wid, ?e'ivery by he Auth,; ii iy of cf,rtain Loam Agreements among the Authority, tine Agency ar-d a tiTzstee nanled Ll-Lerein t}l T'eS.p ct to the loans, described aboYe. �,J consid.er tion of the Se±.}� OI the bonds re#erred to above pu suarit to a Piircha,, e Contract by and among the Authority, the Agency and `atone &- Youngberg. as underwriter, and 1;61 considexation of cm QfEcial Statement and other ClocLUT e tation and actions is co-mecrion WAll the issuance of Sold bonds and the malkiug of :aid ioans, Dated; May. �, 1988 HUNT N'GTDti f3E;,' CH PUBLIC FINMNCLNG AL',T RI_ ' BY -- Board Member By Board Member By.� - Board '11,1euilber