HomeMy WebLinkAbout2011-0201_CCv0001.pdf MINUTES of a regular nnuednQ of the Governing Board of the Redlands Financing
/\UUlOrhv of the City Of H8d|@DdS held in the City COUOCi| Ch@OObg[S' Civic
Center, 35 Cajon Gt[8gt' at 3:10 P.M. OO February 1, 2011.
PRESENT Pete Aguilar, Chairman
Paul Fuater, Vice Chairman
Jon Harrison, Member
Jerry Bean, Member
Bob Gardner, Member
ABSENT None
STAFF N. Enrique Martinez, EXeCUiiVG Director; D@Di8| J. McHugh, Attorney; Tina
KUOdig. CUOtrO||er/T[g@SUngr and Sam |nNiD, Secretary
PUBLIC COMMENTS
No Treasurer - Steve Rogers observed the need for an independent elected
City Treasurer to represent the interests of City taxpayers and provide an
objective evaluation ofrefinancing and rate increase proposals.
CONSENT CALENDAR
The [niOUtGS of the [8gU|a[ meeting of January 18' 2811, were UD@Di0OUS|y
approved oasubmitted onmotion ofMr. Foster, seconded byMr. Gardner.
NEW BUSINESS
Bond Sale - Tina Kundig introduced Robert Porr. the City of Redlands
Financial Adviaor, who presented a review ofevents leading to a proposal to
refinance the Redlands Financing Authority's Series 1999A Water and
VVaaLgvvutgr Revenue Refunding Bonds and a report of his |otgat findings
[8|8dVe to financial market COOdidOOS and fG[tO[S bearing OO the decision to
r8fiO@OCO. The bottom line of the report was VVithOUL 8CCOnlp@OyiOg VV@t8[ and
wastewater rate increaeea, the refinancing effort was not recommended. On a
[OOLiOO Of K8[. FOSLg[. SgCOOd8d by Mr. Harrison, the Board UD@DiOOOUS|y
agreed toreceive and file the report.
ADJOURNMENT
The Governing Board's meeting of the Redlands Financing Authority was
8diOU[Ded at 3:34 P.M. to the O8Xt nggU|@r 0geUDg scheduled for May 17,
2011.
Redlands Financing Authority
February 1. 2010
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