HomeMy WebLinkAboutJPFA Minutes 2012-06-18(Spec.) SRJPFA 06/18/2012 Page 1
IN THE COUNCIL CHAMBER OF THE CITY OF SAN RAFAEL, MONDAY, JUNE 18, 2012 AT 7:20 PM
San Rafael Joint Powers Financing Authority
Special Meeting
Also Present: Nancy Mackle, City Manager
Robert F. Epstein, City Attorney
Esther C. Beirne, Board Secretary
Present: Gary O. Phillips, Board Chair
Marc Levine, Vice Chair
Damon Connolly, Board Member
Barbara Heller, Board Member
Andrew McCullough, Board Member
Absent: None
RESOLUTION OF THE SAN RAFAEL JOINT POWERS FINANCING AUTHORITY AUTHORIZING THE ISSUANCE
OF LEASE REVENUE REFUNDING BONDS IN THE INITIAL AGGREGATE PRINCIPAL AMOUNT NOT TO
EXCEED $7,500,000 IN CONNECTION WITH REFINANCING CERTAIN PUBLIC CAPITAL IMPROVEMENTS
CONSISTING OF A PUBLIC PARKING GARAGE, AUTHORIZING AND DIRECTING EXECUTION OF A FIRST
AMENDMENT TO TRUST AGREEMENT, A FIRST SUPPLEMENTAL TRUST AGREEMENT, A SECOND
AMENDMENT TO PROPERTY LEASE, A SECOND AMENDMENT TO SITE AND FACIITY LEASE AND CERTAIN
OTHER DOCUMENTS, AUTHORIZING THE NEGOTIATION FOR THE SALE OF BONDS PURSUANT TO A BOND
PURCHASE AGREEMENT APPROVING AN OFFICIAL STATEMENT, AND AUTHORIZING OTHER RELATED
ACTIONS (FIN) — FILE FA -5
Mark Moses, Interim Finance Director presented the staff report.
Council discussion ensued.
Craig Hill, NHL Advisors addressed the City's debt ratings for this and past debt issuances.
Board Member McCullough moved and Board Member Connolly seconded, to adopt the Resolution.
RESOLUTION NO. FA 201201 - RESOLUTION OF THE CITY OF SAN RAFAEL JOINT POWERS FINANCING
AUTHORITY AUTHORIZING THIE ISSUANCE OF LEASE REVENUE
REFUNDING BONDS IN THE INITIAL AGGREGATE PRINCIPAL AMOUNT
NOT TO EXCEED $7,500,000 IN CONNECTION WITH REFINANCING
CERTAIN PUBLIC CAPITAL IMPROVEMENTS CONSISTING OF A PUBLIC
PARKING GARAGE, AUTHORIZING AND DIRECTING EXECUTION OF A
FIRST AMENDMENT TO TRUST AGREEMENT, A FIRST SUPPLEMENTAL
TRUST AGREEMENT, A SECOND AMENDMENT TO PROPERTY LEASE, A
SECOND AMENDMENT TO SITE AND FACILITY LEASE AND CERTAIN
OTHER DOCUMENTS, AUTHORIZING THE NEGOTIATION FOR THE SALE
OF BONDS PURSUANT TO A BOND PURCHASE AGREEMENT APPROVING
AN OFFICIAL STATEMENT, AND AUTHORIZING OTHER RELATED
ACTIONS
AYES: BOARD MEMBERS: Connolly, Heller, Levine, McCullough and Chair Phillips
NOES: BOARD MEMBERS: None
ABSENT: BOARD MEMBERS: None
There being no further business, the San Rafael Joint Powers Financing Authority Special Meeting
was adjourned at 7:34 PM.
ESTHER C. BEIRNE, Board Secretary
APPROVED THIS DAY OF 2012
MAYOR OF THE CITY OF SAN RAFAEL
(Spec.) SRJPFA MINUTES 06/18/2012 Page 1