HomeMy WebLinkAboutDOC-9_CCv0001.pdf MINUTES of a regular 0e8UnA of the Governing Board of the Redlands Financing
Authority of the City of Redlands held in the City Council Chambers' Civic
Center, 35Cajon StReet, at 3:12 P.M. DD November 16, 2010.
PRESENT Pat Gilbreath, Chairman
Jerry Bean, Vice Chairman
Jon Harrison, Member
Mick Gallagher, Member
Pete Aguilar, Member
ABSENT None
STAFF N. Enrique Martinez, Executive [)im8CLDr; [)8ni8| J. K8CHuQh, Attorney; Tine
Kumd' . Contno|ker/Treaoumer; and Sam Irwin, Secretary
CONSENT CALENDAR
The minutes of the regular meeting of October 5. 2010. were unanimously
approved @gsubmitted onmotion DfMr. Bean, seconded byMr. Gallagher.
NEW BUSINESS
Bond Sale - CDntrDU8DrFr8aGun8r KundiQ advised that the City's consultant
financial advisor has indicated that the possibility of a refinancing of the City of
Redlands Water VrWastewater bonds without o corresponding nate increase
ornew impact fees is unlikely. yN[5. N{undig also informed the Board that more
time is required for staff to examine the Capital Improvement F»mmQramn for
Water and the program needs of VVootewohBr to 8vo|umto how the various
scenarios requested by the Board in previous oeoeiOne may impact these
programs. |twas agreed noaction would betaken until the next regular Dfthe
Board in the matter ofo proposal to authorize the issuance, g@|8 and delivery
of Water and Wastewater Revenue Refunding BVndS, and the execution and
delivery of8 Trust Agreement, o Water |nSt@||m8Mt Sale Agreement, an C>fhCi8|
StateDlent, an Escrow Deposit and Trust Aon9enl8nt. an Agency Agreement,
and a Bond Purchase Agreement and certain other actions in connection with
issuance sale Of such bonds. Mr. 888n requested o copy ofthe consultant
financial advisor's oOa|ySiG in determining the unlikelihood of refinancing
without @ corresponding rate increase D[ new impact fees.
PUBLIC COMMENTS
Anticorruption - Steve Rogers read aletter hewrote hJmembers Cf the Board
calling for an investigation of what he asserts are discrepancies in the
Executive Director's compensation records.
Redlands Financing Authority
November 1G.2O1O
Page
ADJOURNMENT
There being no further action to be taken, the Governing Board's meeting of
the Redlands Financing Authority adjourned at 3:17 P.M. The next regular
meeting of the Board will convene on January 18, 2011.
Sam Irwin, Secretary
t
t
Redlands Financing Authority
November 16,2010
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