HomeMy WebLinkAbout1998-12-07MINUTES
HUNTINGTON BEACH PUBLIC FINANCING AUTHORITY
Council Chamber, Civic Center
Huntington Beach, California
Monday, December 7, 1998
A videotape recording of the 7:00 p.m. portion of this meeting
is on file in the Office of the City Clerk
.JOINT MEETING BETWEEN CITY COUNCIL/REDEVELOPMENT AGENCY AND HUNTINGTON
BEACH PUBLIC FINANCING AUTHORITY
ROLL CALL OF THE HUNTINGTON BEACH PUBLIC FINANCING AUTHORITY MEMBERS
Present: Julien, Bauer, Garofalo, Green, Dettloff, Harman, Sullivan
Absent: None
APPROVED TAX ALLOCATION BOND ISSUE — ADOPTED CITY COUNCIL' RESOLUTION
NO. 98-93 — ADOPTED REDEVELOPMENT AGENCY RESOLUTION NO. 293 — ADOPTED
PUBLIC FINANCING AUTHORITY RESOLUTION NO. 12 - APPROVED THREE LEGAL
SERVICES CONTRACTS - APPROVED MODIFICATIONS TO INSURANCE REQUIREMENTS
The City Council Public Financing Authority Members/Redevelopment Agency Members
considered a communication from the Acting Director of Administrative Services and the Economic
Development Director recommending that a portion of the revenue bonds issued in 1992 by the
Huntington Beach Public Financing Authority be refinanced:
Dan Villella, Acting Director of Administrative Services, presented a staff report.
A motion was made by Garofalo, second Julien, to approve the following City Council Action:
Adopt City Council Resolution No. 98-93 - 'A Resolution of the City Council of the City of
Huntington Beach Approving the Issuance of Tax Allocation Refunding Bonds by the
Redevelopment Agency of the City of Huntington Beach in the Maximum Principal Amount of
$11, 000, 000, " The motion carried by the following roll call vote:
AYES: Julien, Bauer, Garofalo, Green, Dettloff, Harman, Sullivan
NOES: None
ABSENT: None
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Page 2 - Huntington Beach Public Financing Authority Minutes - 121071,W
A motion was made by Garofalo, second Julien, that the Redevelopment Agency and the City
Council approve the following action:
1. Adopt Agency Resolution No. 293 authorizing the Redevelopment Agency of the City of
Huntington Beach to issue and sell Tax Allocation Refunding Bonds for the partial refunding of
1992 Tax Allocation Revenue Bonds, Loan Agreements, and approving related documents and
actions. Not to exceed $11,000,000.
2. Authorize the Chairman and Clerk to execute the three contracts for legal services between the
Redevelopment Agency and (1) Rod Gunn Associates, Inc. (2) Jones Hall, Attorneys At Law,
and (3) Fulbright & Jaworski, Attorneys At Law.
3. Approval by the City Council of an increased professional liability insurance deductible in the
amount of $250,000 for Jones Hall and $1,000,000 for Fulbright & Jaworski and excuse
Fulbright & Jaworski from the standard indemnity clause. The motion carried by the following
roll call vote:
AYES: Julien, Bader, Garofalo, Green, Dettloff," Harman, Sullivan
NOES: None
ABSENT!, None.
A motion was made by Garofalo, second Julien, that the Public Financing Authority approve the
following action: '
Adopt Resolution No..12 of the Huntington Beach Public Financing Authority approving
documents and actions relating'to partial refunding of the 1992 Tax Allocation Revenue Bonds.
The motion carried by thblollowing roll call vote:
�a r
AYES: Julien, Bauer, Garofalo, Green Dettloff, Harman, Sullivan
NOES: None
ABSENT: None
PUBLIC FINANCING AUTHORITY - ADJOURNMENT
The regular meeting of the Huntington Beach Public Financing Authority was adjourned.
Secretary
ATTEST:
Secretary Chairm n