HomeMy WebLinkAboutDOC000-2_CCv0001.pdf MINUTES of a special meeting of the Governing Board of the Redlands Financing
rr Authority of the City of Redlands held in the City Council Chambers,
Civic Center, 35 Cajon Street, at 4:15 P.M. on May 20, 2003.
PRESENT Karl N. (Kasey) Haws, Chairman
Susan Peppier, Vice Chairman
Pat Gilbreath, Member
Gary George, Member
Jon Harrison, Member
ABSENT None
STAFF John Davidson, Executive Director; Daniel J. McHugh, Attorney; Michael
Reynolds, Treasurer; Tina Kundig, Controller; and Beatrice Sanchez,
Acting Secretary
The minutes of the regular meeting of January 7, 2003, were
unanimously approved as submitted on motion of Mrs. Peppier,
seconded by Mr. George.
JOINT MEETING - REDLANDS FINANCING AUTHORITY AND CITY COUNCIL
Controller Tina Kundig introduced John Rottschaefer, Bond Counsel,
ear and the noted representatives from O'Connor Southwest Securities were
present to answer any questions. Mrs. Gilbreath expressed she
supports the refunding, but does not want to extend the debt. She would
like the savings to reflect reducing the debt. Councilmember George
stated he understood but did not want to commit or lock in the savings
for one purpose.
Resolution No. 2003-04 - Lease Revenue Refunding COPS - Mr. George
moved to adopt Resolution No. 2003-04, a resolution of the Board of the
Redlands Financing Authority authorizing execution and delivery of a
site and facilities lease, a lease agreement, a trust agreement, a
certificate purchase agreement, approving an official statement and
other matters relating to the execution, deliver and sale of the City of
Redlands' 2003 Lease Revenue Refunding Certificates of Participation;
with the understanding that the savings will be committed to the general
fund but the City Council will have some flexibility where to apply the
funds. Motion seconded by Mrs. Peppier and carried unanimously.
(Also see City Council minutes for May 20, 2003.)
Redlands Financing Authority
May 20,2003
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ADJOURNMENT
There being no further business, the Governing Board's meeting of the
Redlands Financing Authority adjourned at 4:20 P.M.
Acting Secretary
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Redlands Financing Authority
May 20,2003
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