HomeMy WebLinkAbout042099rda_CCv0001.pdf MINUTES ofaregular meeting of the Board of Directors ofthe Redevelopment Agency of
the City of Redlands held in the City Council Chambers, Civic Center, 35 Cajon
Street, at 5:24 P.M. on April 20, 1999.
PRESENT William E. Cunningham, Chairman
GgniA. G. Banda, Vice Chairman
Pat Gilbreath, K4ennbar
John L. Freedman, Member
Gary George, Member
Gary K4. Luebbern. Executive Director
Daniel J. McHugh, Agency Attorney
LorriePoyzer. Agency Secretary
ABSENT Nona
The minutes of the regular meeting of April G. 1998, were unanimously
approved aesubmitted onmotion ofMr. Freedman, seconded byMrs. Banda.
JOINT MEETING - REDEVELOPMENT AGENCY AND CITY COUNCIL
Resolution No. 287 - Joint Powers Agreement - Debt Financing - Finance
Director Johnson reported our underwriter and bond counsel for the refinancing
process with relation to outstanding water and aevvur Certificates of
Participation (C[)P'a) has suggested the Agency should consider issuing
revenue bonds in lieu of C{]P'o. She reviewed the advantages and the
Agency's liability and commitment. Formation of joint pOvv8rS agreement
between the City and the Redevelopment Agency would establish the
Redlands Financing Authority which will be used exclusively as 8vehicle for
issuance of debt. yWno. Gilbreath moved to adopt Resolution No. 287, a
resolution of the Redevelopment Agency of the City of Red|onda. California,
approving aproposed form ofjoint exercise ofpowers agreement between the
City of Redlands and the Redevelopment Agency of the City of Redlands,
California. Motion seconded by Mr. FF88d08O and carried unanimously. (Also
see City Council minutes for April 20. 1999.)
ADJOURNMENT
The Board of Directors' meeting of the Redevelopment Agency recessed at
5:27P.K4. tocontinue the City Council meeting. The meeting reconvened at
5:51 P.M. for public comments. There being no public comments nor further
buainuea, the rngeUnA adjourned at 5:52 P.M. The next regular meeting will be
held On May 4, 1999.
Secretary
Redevelopment Agency
April 20, 1909
Pagel