HomeMy WebLinkAbout2000-06-19 (12)Minutes
City Council/Huntington Beach Public Financing Authority
Council Chamber, Civic Center
Huntington Beach, California
Monday, June 19, 2000
A videotape 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/Huntington Beach Public Financing Authority
(125.40)
Huntington Beach Public Financing Authority Members
Present Julien, Sullivan, Harman, Green, Dettloff, Bauer
Absent Garofalo
Public Financing Authority Minutes Approved
A motion was made by Green, second Sullivan to approve and adopt minutes of the
December 6, 1999 annual meeting of the Huntington Beach Public Financing Authority
as written and on file in the Office of the Secretary. The motion carried unanimously with
Director Garofalo absent.
(City Council) Adopted Council Resolution No. 2000-62 and Public Finance
Authority (PFA) Resolution No. 13 Authorizing the Issuance of Lease Revenue
Bonds to Finance Various Beach Facilities and Infrastructure Projects — Approved
Two Professional Services Contracts: (1) Quint and Thimmig LLP, and (2) Evensen
Dodge — Approved Waiver of Insurance Liability Requirements (330.30)
The City Council considered a communication from the Administrative Services Director
transmitting a request for the City Council and the Huntington Beach Public Finance
Authority to adopt resolutions authorizing the issuance of Lease Revenue Bonds to
finance the South Beach Phase I, Beach Maintenance Facility, Energy Retrofit, Water
Fund Repayment, Adult Sports Complex Environmental Mitigation, South Beach Phase
II Design, and Emerald Cove refinancing projects, along with professional services
contracts with Quint and Thimmig, LLP, and Evensen Dodge for bond counsel and
financial advisory services related to the subject projects.
Earlier in the meeting, the City Clerk announced the following Late Communication on
this item:
Slide show presentation submitted by the Director of Administrative Services to the City
Clerk's Office on June 19, 2000. Slide show presentation titled Issuance of Lease
Revenue Bonds to Finance Various Projects.
June 19, 2000 — Council/Public Financing Authority Minutes — Page 2
A motion was made by Green, second Sullivan to 1. Adopt City Council Resolution
2000-62 - "A Resolution of the City Council of the City of Huntington Beach Approving
Proceedings to Finance and Refinance the Costs of Certain Capital Improvements of the
City. Approving Issuance of Lease Revenue Bonds by the Huntington Beach Public
Financing Authority for Such Purposes, and Approving Related Documents and Official
Actions;" and 2. Approve two Professional Services contracts for Bond Counsel and
Financial Advisory Services related to the subject financing: (1) Agreement Between the
City of Huntington Beach and Quint & Thimmig, LLP, Attorneys at law, For Bond and
Disclosure Counsel Services for the Proposed Huntington Beach Public Financing
Authority Lease Revenue Bonds, 2000 Series A (Capital Improvement Financing
Project); and (2) Professional Services Contract Between the City of Huntington Beach
and Evensen Dodge, Inc. for Financial Advisory Services; and 3. Approve the
insurance deductible of $50,000 for the professional liability insurance and waiver of the
30-day cancellation notice for Quint and Thimmig, as recommended by the settlement
committee; and
2. Adopt Resolution No. 13 of the Public Financing Authority — "A Resolution of the
Board of Directors of the Huntington Beach Public Financing Authority Authorizing the
Issuance and Sale of Lease Revenue Bonds in an Amount not to Exceed $25, 000, 000 to
Finance and Refinance the Costs of Certain Capital Improvements of the City of
Huntington Beach, and Approving Related Documents and Official Actions." The
motion carried unanimously with Director Garofalo absent.
Adjournment
Vice Chairman Harman adjourned the joint meetings of the City Council/Huntington
Beach Public Financing Authority.
ATTEST:
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Secretary
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Secretary
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Chairman