HomeMy WebLinkAboutMinutes - May 19, 1997 - RA0 0
CITY OF AZUSA
MINUTES OF THE REDEVELOPMENT AGENCY
REGULAR MEETING
MAY 19,1997 -9:07 P.M.
The Redevelopment Agency of the City of Azusa met in regular session at the above date and
time in the Civic Auditorium.
Chairman Madrid called the meeting to order.
ROLL CALL
PRESENT: DIRECTORS: HARDISON, STANFORD, ROCHA, BEEBE,
MADRID
ABSENT: DIRECTORS: NONE
ALSO PRESENT:
General Counsel Deitsch, Executive Director Garcia, Interim Redevelopment Director Steel,
City Department Heads, Secretary Solis, Office Specialist Aguilar.
Call to Order
Roll Call
Also Present
THE CITY COUNCIL AND THE REDEVELOPMENT CONVENED JOINTLY AT Cncl/CRA convene
8:30 P.M. jointly
�lhl :111 I ,1_ _" 1 1► :1�1 _ 1 , , Moo
Interim Redevelopment Director Steel addressed the issue stating that this is a follow up to CRA Dir
an action by Council to authorize obtaining bond counsel and underwriter to evaluate the comments
feasibility of issuing refunding bonds for the 1992 tax allocation bond issue. He detailed
the necessary steps to be taken to refund bond issue. He explained the need to obtain bond
insurance and how this would help obtain a AAA rating.
Councilmember Stanford offered a Resolution entitled:
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF AZUSA, CALIFORNIA
Res. No. 97-C67
APPROVING THE ISSUANCE BY THE REDEVELOPMENT AGENCY OF THE CITY
Approving
OF AZUSA OF ITS MERGED PROJECT AREA TAX ALLOCATION REFUNDING
Issuance
BONDS, 1997 SERIES A.
Tax Alloc
Refunding
Moved by Councilmember Stanford, seconded by Councilmember Beebe to waive further
Bonds
reading and adopt. Resolution passed and adopted by the following vote of the Council:
AYES: COUNCILMEMBERS: HARDISON, STANFORD, ROCHA, BEEBE,
MADRID
NOES: COUNCILMEMBERS: NONE
ABSENT: COUNCILMEMBERS: NONE
Director Stanford offered a Resolution entitled:
A RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF AZUSA Res. No. 97-R20
APPROVING THE ISSUANCE OF ITS MERGED PROJECT AREA TAX Approving
ALLOCATION REFUNDING BONDS, 1997 SERIES A, APPROVING A THIRD Issuance Tax
SUPPLEMENT TO INDENTURES, AN OFFICIAL STATEMENT AND BOND Alloc. Refunding
PURCHASE AGREEMENT, SETTING THE MAXIMUM FINAL TERMS OF THE Bonds
SALE OF THE BONDS AND MAKING CERTAIN DETERMINATIONS RELATING
THERETO.
0 0
Moved by Director Stanford, seconded by Director Beebe to waive further reading and
adopt. Resolution passed and adopted by the following vote of the Board members:
AYES: DIRECTORS: HARDISON, STANFORD, ROCHA,
BEEBE, MADRID
NOES: DIRECTORS: NONE
ABSENT: DIRECTORS: NONE
THE CITY COUNCIL RECESSED AND THE REDEVELOPMENT AGENCY Cncl recess/CRA
CONVENED AT 8:45 P.M. continued
The CONSENT CALENDAR consisting of items I -2a and I -2b was approved by Consent Cal.
motion of Director Stanford, seconded by Director Rocha and unanimously carried, Appvd
with the exception of item I -2b, which was considered under the Special Call portion
of the Agenda.
a. The Minutes of the regular meeting of May 5, 1997, were approved as written. Min appvd.
b. Resolution authorizing payment of warrants by the Agency was adopted and
entitled:
A RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF Res. 97-R21
AZUSA ALLOWING CERTAIN CLAIMS AND DEMANDS TO BE PAID OUT Warrants
OF REDEVELOPMENT FUNDS.
None.
None.
It was consensus of the Boardmembers to adjourn.
TIME OF ADJOURNMENT: 8:46 P.M.
NEXT RESOLUTION NO. 97-R22.
NEXT ORDINANCE NO. 97-01.
05/19/97 PAGE TWO
Special Call
None.
Scheduled Items
None.
Adjourn