HomeMy WebLinkAbout051303 TPFA Minutes MINUTES OF A REGULAR MEETING
OF THE TEMECULA PUBLIC FINANCING AUTHORITY
MAY 13, 2003
A regular meeting of the City of Temecula Public Financing Authority was called to order at
7:56 P.M., in the City Council Chambers, 43200 Business Park Drive, Temecula.
ROLL CALL
PRESENT: 5 AGENCY MEMBERS: Comerchero, Naggar, Pratt, Roberts,
and Stone
ABSENT: 0 AGENCY MEMBER: None
Also present were Executive Director Nelson, City Attorney Thorson, and City Clerk Jones.
PUBLIC COMMENTS
No input.
CONSENT CALENDAR
1 Minutes
RECOMMENDATION:
1.1 Approve the minutes of April 22, 2003.
MOTION: Agency Member Naggar moved to approve Consent Calendar Item No. 1. The motion
was seconded by Agency Member Comerchero and voice vote reflected unanimous approval.
AUTHORITY BUSINESS
2 Ratifyinq Election and Approval of Issuance of Bonds for Temecula Public Financinq
Authority Community Facilities District No. 03-1 (Crowne Hill) - 2.1 Approve Staff
Recommendation (5-0-0) MN/JC; 2.2 Approve Staff Recommendation (5-0-0) MN/JC
RECOMMENDATION:
2.1 Adopt a resolution entitled:
RESOLUTION NO. TPFA 03-09
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE
TEMECULA PUBLIC FINANCING AUTHORITY CALLING
SPECIAL RATIFYING ELECTION WITHIN COMMUNITY
FACILITIES DISTRICT NO. 03-1 (CROWNE HILL)
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2.2
Hold an election ratifying the formatipn of Temecula Public Financing Authority
Community Facilities District No. 03-1 (Crowne Hill) (the "CFD"), the levy of
special taxes in the CFD, the incurrence of indebtedness of the CFD and an
appropriations limit for the CFD, and then adopt the resolutions entitled:
RESOLUTION NO. TPFA 03-10
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE
TEMECULA PUBLIC FINANCING AUTHORITY DECLARING
RESULTS OF SPECIAL RATIFYING ELECTION AND
DIRECTING RECORDING OF NOTICE OF SPECIAL TAX LIEN
RESOLUTION NO. TPFA 03-
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE
TEMECULA PUBLIC FINANCING AUTHORITY AUTHORIZING
THE ISSUANCE OF SPECIAL TAX BONDS OF THE
TEMECULA PUBLIC FINANCING AUTHORITY FOR
TEMECULA PUBLIC FINANCING AUTHORITY COMMUNITY
FACILITIES DISTRICT NO. 03-1 (CROWNE HILL), APPROVING
AND DIRECTING THE EXECUTION OF A FISCAL AGENT
AGREEMENT AND APPROVING OTHER RELATED
DOCUMENTS AND ACTIONS
Reviewing the process with regard to this item, City Attorney Thorson reviewed the staff report
(as per agenda material), noting that approval of the bond documents (second resolution under
2.2) should be continued to a later meeting.
MOTION: Agency Member Naggar moved to adopt Resolution No. TPFA 03-09. The motion
was seconded by Agency Member Comerchero and voice vote reflected unanimous approval.
At this time, a short recess was taken in order for City Clerk Jones to tabulate the election
results. It was noted that of the 301 qualified votes, all were in favor.
MOTION: Agency Member Naggar moved to adopt Resolution No. TPFA 03-10. The motion
was seconded by Agency Member Comerchero and voice vote reflected unanimous approval.
PUBLIC HEARING
Formation of Community Facilities District No. 01-3 (Wolf Creek) and Amendment of
Resolution of Intention for form the District
RECOMMENDATION:
3.1 Adopt a resolution entitled:
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RESOLUTION NO. TPFA 03-11
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE
TEMECULA PUBLIC FINANCING AUTHORITY MAKING
FINDINGS OF COMPLEXITY OF PROPOSED COMMUNITY
FACILITIES DISTRICT NO. 01-3 (WOLF CREEK) AND
AMENDING RESOLUTION OF INTENTION TO FORM THE
DISTRICT
President Mayor Stone opened the public hearing.
MOTION: Agency Member Naggar moved to adopt Resolution No. TPFA 03-11. The motion was
seconded by Agency Member Comerchero and voice vote reflected unanimous approval.
MOTION: Agency Member Comerchero moved to continue the public hearing to June 24, 2003.
The motion was seconded by Agency Member Roberts and voice vote reflected unanimous
approval.
EXECUTIVE DIRECTOR'S REPORT
No comment.
BOARD OF DIRECTORS' REPORTS
No comments.
ADJOURNMENT
At 8:04 P.M., the Temecula Public Financing Authority meeting was formally adjourned.
ATTEST:
[SEAL]
~e~ne, Chairman
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