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CITY OF ATASCADERO
ATASCADERO PUBLIC FINANCING
AUTHORITY
(The Public Financing Authority (PFA) is a public corporation empowered to borrow
money and issue bonds. The City of Atascadero formed the PFA in 2004 to assist in
raising capital for essential public projects.)
SPECIAL MEETING
AGENDA
Tuesday, June 22, 2010
Time: Immediately following the conclusion of the Community
Redevelopment Agency meeting at 6:00 P.M.
Atascadero City Hall
6907 El Camino Real, Atascadero, California
ROLL CALL: Chairperson Fonzi
Vice Chairperson O’Malley
Board Member Beraud
Board Member Clay
Board Member Kelley
APPROVAL OF AGENDA: Roll Call
COMMUNITY FORUM:
BOARD ANNOUNCEMENTS AND REPORTS: (On their own initiative, the
Board Members may make a brief announcement or a brief report on their own
activities. Board Members may ask a question for clarification, make a referral
to staff or take action to have staff place a matter of business on a future
agenda. The Board may take action on items listed on the Agenda.)
A. CONSENT CALENDAR:
1. Board Meeting Minutes – January 12, 2010
Board Secretary Recommendation: Board approve the Authority Board
meeting minutes of January 12, 2010. [Board Secretary]
B. PUBLIC HEARINGS: None.
C. MANAGEMENT REPORTS:
1. Establishment of Regular Meeting Dates for Public Finance Authority
Meetings
Fiscal Impact: None.
Recommendation: Board adopt Draft Resolution A establishing regular
meeting dates for Public Financing authority meetings. [Treasurer]
D. ADJOURNMENT:
ITEM NUMBER: PFA A - 1
DATE: 06/22/10
Draft Public Financing Authority Minutes 01/12/10
Page 1 of 2
CITY OF ATASCADERO
ATASCADERO PUBLIC FINANCING
AUTHORITY
(The Public Financing Authority (PFA) is a public corporation empowered to borrow
money and issue bonds. The City of Atascadero formed the PFA in 2004 to assist in
raising capital for essential public projects.)
DRAFT MINUTES
Tuesday, January 12, 2010
Time: Immediately Following City Council meeting
that follows Community Redevelopment Agency
meeting at 6:00 P.M.
Atascadero City Hall
6907 El Camino Real, Atascadero, California
Chairperson Fonzi called the meeting to order at 8:55 p.m.
ROLL CALL:
Present: Board Members Béraud, Clay, Kelley, Vice Chairperson O’Malley
and Chairperson Fonzi
Others Present: Board Secretary Marcia McClure Torgerson
Staff Present: Assistant Executive Director Jim Lewis, Police Chief Jim Mulhall,
Community Development Director Warren Frace, Administrative
Services Director Rachelle Rickard, and City Attorney Brian Pierik.
APPROVAL OF AGENDA: Roll Call
MOTION: By Board Member Béraud and seconded by Vice Chairperson
O’Malley to approve the agenda.
Motion passed 5:0 by a roll-call vote.
ITEM NUMBER: PFA A - 1
DATE: 06/22/10
Draft Public Financing Authority Minutes 01/12/10
Page 2 of 2
COMMUNITY FORUM: None
BOARD ANNOUNCEMENTS AND REPORTS: None
A. CONSENT CALENDAR:
1. Board Meeting Minutes – January 13, 2009
Board Secretary Recommendation: Board approve the Authority Board
meeting minutes of January 13, 2009. [Board Secretary]
MOTION: By Board Member Clay and seconded by Board Member
Béraud to approve the Consent Calendar.
Motion passed 5:0 by a voice vote.
B. ADJOURNMENT:
Chairperson Fonzi adjourned the meeting at 8:56 p.m.
MINUTES PREPARED BY:
______________________________________
Marcia McClure Torgerson, C.M.C.
City Clerk / Board Secretary
ITEM NUMBER: PFA C - 1
DATE: 06/22/10
Atascadero Public Financing Authority
Staff Report – Treasurer
Establishment of Regular Meeting Dates for
Public Finance Authority Meetings
RECOMMENDATION:
Board adopt Draft Resolution A Establishing Regular Meeting Dates for Public
Financing Authority Meetings.
DISCUSSION:
In November of 2004, the City of Atascadero and the Community Redevelopment
Agency of Atascadero entered into a joint powers agreement (JPA), forming the
Atascadero Public Financing Authority. The JPA was formed for the purpose of
facilitating the issuance of bonds and other financing mechanisms and is instrumental in
keeping bond issuance costs down. The Public Financing Authority was used to
facilitate the issuance of the City’s 2004 Redevelopment Bonds.
The City and the Redevelopment Agency are now interested in issuing new bonds in
order to fund the Historic City Hall Project and other improvement projects throughout
the City. Section 6592.1 of the California Government Code reads:
“6592.1. A resolution authorizing bonds or any issuance of bonds or accepting
the benefit of any bonds or the proceeds of bonds shall be adopted by an
authority only during a regular meeting held pursuant to Section 54954.”
This section states that in order to issue the bonds, the Public Financing Authority must
adopt a resolution at a REGULARLY scheduled Board Meeting. The current bylaws
only call for one regularly scheduled meeting in January; however the Board may set
additional regular meetings by resolution.
Draft Resolution A sets July 27, 2010 and August 10, 2010 as regular meeting dates for
the Authority. Adoption of this resolution will allow the Authority to consider the
issuance of bonds at its July 27, 2010 meeting and/or its August 10, 2010 meeting.
FISCAL IMPACT: None
ATTACHMENT:
Draft Resolution A- Establishing Regular Meeting Dates for Authority Meetings
DRAFT RESOLUTION A
RESOLUTION OF THE ATASCADERO PUBLIC
FINANCING AUTHORITY ESTABLISHING REGULAR
MEETING DATES FOR AUTHORITY MEETINGS
WHEREAS, the Atascadero Public Financing Authority (the “Authority”) is a public
agency duly organized and existing pursuant to a Joint Exercise of Powers Agreement (the “JPA
Agreement”), dated November 9, 2004, by and between the City of Atascadero (the “City”) and
the Community Redevelopment Agency of Atascadero (the “Agency”); and,
WHEREAS, the Authority is governed by a board of directors comprised of the five
member City Council of the City; and,
WHEREAS, the Authority is statutorily authorized by Article 4 of Chapter 5 of Division
7 of Title 1 of the California Government Code and is empowered under the JPA Agreement to
issue its bonds to, among other things, provide financial assistance to the City and/or the
Agency; and,
WHEREAS, section 6592.1 of the California Government Code, newly effective as of
January 1, 2010, provides that a resolution authorizing bonds or any issuance of bonds or
accepting the benefit of any bonds or the proceeds of bonds must be adopted by the Authority
only during a regular meeting; and
WHEREAS, to provide flexibility for the Authority to adopt resolutions for the issuance
of bonds when expedient, it is necessary and appropriate to establish regular meeting dates for
the Authority;
NOW, THEREFORE BE IT RESOLVED:
SECTION 1. The Authority hereby determines that July 27, 2010, and August 10, 2010, shall be
established as regular meeting dates of the Authority for 2010, to be held in conjunction with
regular meetings of the City Council of the City. Such establishment of regular meeting dates
shall not preclude the calling of special meetings of the Authority, when necessary, for purposes
other than the adoption of resolutions for the issuance of bonds.
SECTION 2. This Resolution shall take effect immediately.
On motion by Board Member _______________ and seconded by Board Member
_____________, the foregoing Resolution is hereby adopted in its entirety on the following roll
call vote:
AYES:
NOES:
ABSENT:
ADOPTED:
ATASCADERO PUBLIC
FINANCING AUTHORITY
By:
Roberta Fonzi, Chairperson
ATTEST:
Marcia McClure Torgerson, C.M.C.
Board Secretary
APPROVED AS TO FORM:
Brian A. Pierik, City Attorney