HomeMy WebLinkAbout2001-11-05Minutes
Huntington Beach Civic Improvement Corporation
Council Chambers, Civic Center
2000 Main Street
Huntington Beach, California 92648
Monday, November 5, 2001
A videotape of this meeting
is on file in the Office of the City Clerk
Regular Meeting of the Huntington Beach Civic Improvement Corporation (125.40)
Roll Call of the Huntington Beach Civic Improvement Corporation Directors
Present: Green, Boardman, Cook, Julien Houchen, Garofalo, Dettloff, Bauer
Absent: None
(City Council/Civic Improvement Corporation/Huntington Beach Financing
Authority) Joint Public Hearing - Authorized Issuance of the 1993 Public
Financing Authority Revenue Bonds for Refunding Certificates of
Participation -Civic Center Refinancing Project — Police Administration Building
Refinancing Project — Adopted Council Resolution No. 2001-86 — Adopted Civic
Improvement Corporation Resolution No. CIC 2001-1 Terminating Outstanding
Agreement and Adopted Public Financing Authority Resolution No. 15 (330.60)
Mayor/President/Chair Julien Houchen announced that this was the time scheduled
for a public hearing to consider a communication from the Administrative Services
Director requesting authorization for the issuance of Civic Improvement Corporation
Revenue Bonds.
The joint public hearing is being held in accordance with Section 6586.5(a)(2) of the
California Government Code with respect to the financing of improvements by means
of the issuance of revenue bonds (the "Bonds") by the Huntington Beach Financing
Authority (the "Authority") in an amount not to exceed $32,000,000 to provide funds
for the refunding of the City's outstanding 1993 Refunding Certificates of
Participation (Civic Center Refinancing Project) and 1993 Refunding Certificates of
Participation (Police Administration Building Refinancing Project).
A PowerPoint presentation titled Refinancing 1993 COP's for Civic Center and Police
Buildings — November 5; 2001 is included in the agenda packet.
Legal notice as provided to the City Clerk's Office by staff had been mailed,
published and posted.
Assistant City Administrator William Workman and Administrative Services Director
Clay Martin furnished oral reports regarding the subject current refunding bonds.
(2) November 5, 2001- Civic Improvement Corporation Minutes — Page 2
Brian Quint, Agency Bond Counsel from the Law Firm of Quint & Thimmig reported
on the difference between current versus advance refunding per Councilmemberl
Director Bauer's request. Agency Bond Counsel Quint stated that approval of the
proposed transaction, will not limit the city to the one-time sale proviso, as the status
is current refunding in this case.
Administrative. Services Director Martin added that the city is taking advantage of.the
interest rates.
Mayor/President/Chair Julien Houchen declared the public hearing open.
There being no persons present to speak on the matter and there being no protests
fled, either written or oral, the hearing was closed by the Mayor/President.
A motion was made by Bauer, second Garofalo to:
1. Adopt City Council Resolution No. 2001-86 — "A Resolution of the City Council
of the City of Huntington Beach Approving Proceedings to Refund the City's
Outstanding 1993 Refunding Certificates of Participation (Civic Center
Refinancing Project) and 1993 Refunding Certificates of Participation (Police
Administration Building Refinancing Project), Approving the Issuance of Lease
Revenue Bonds by the Huntington Beach Public Financing Authority for Such
Purpose, and Approving Related Documents and Official Actions;"
and
2. Adopt Civic Improvement Corporation Resolution No. 2001-1 — "A Resolution
of the Board of Directors of the City of Huntington Beach Civic Improvement
Corporation Authorizing the Execution of a Termination Agreement in Connection
with the Refunding of the Outstanding City of Huntington Beach 1993 Refunding
Certificates of Participation (Civic Center Refinancing Project) and 1993
Refunding Certificates of Participation (Police Administration Building
Refinancing Project), and Approving Official Actions;"
and
3. Adopt Huntington Beach Public Financing Authority Resolution No. 15 — "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
Aggregate Amount not to Exceed $32,000, 000 Refund the City of Huntington
Beach's Outstanding 1993 Refunding Certificates of Participation (Civic Center
Refinancing Project) and 1993 Refunding Certificates of Participation (Police
Administration Building Refinancing Project), and Approving Related Documents
and Official Actions."
The motion carried by the following roll call vote:
AYES: Green, Boardman, Cook, Julien Houchen, Garofalo, Dettloff, Bauer
NOES: None
ABSENT: None
(3) November 5, 2001- Civic Improvement Corporation Minutes — Page 3
Civic Improvement Corporation Minutes -- Approved
A motion was made Dettloff, second Garofalo to approve and adopt minutes of the
August 6, 2001 meetings of the Huntington Beach Public Financing Authority as written
and on file in the Office of the Secretary. Submitted by the Secretary:
The motion carried by the following roll call vote:
AYES: Green, Boardman, Cook, Julien Houchen, Garofalo, Dettloff, Bauer
NOES: None
ABSENT: None
The Mayor/President/Chair Adjourned the .Joint Meeting of the Civic
Improvement Corporation and the Public Financing Authority and Reconvened
to the Regular Meeting of the City Council/Redevelopment Agency.
ATTEST:
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