HomeMy WebLinkAbout062403 TPFA Minutes MINUTES OF A REGULAR MEETING
OF THE TEMECULA PUBLIC FINANCING AUTHORITY
JUNE 24, 2003
A regular meeting of the City of Temecula Public Financing Authority was called to order at
7:35 P.M., in the City Council Chambers, 43200 Bu'siness Park Drive, Temecula.
ROLL CALL
PRESENT: 4 AGENCY MEMBERS: Comerchero, Naggar, Pratt,
and Stone
ABSENT: 1 AGENCY MEMBER: Roberts
Also present were Executive Director Nelson, City Attorney Thorson, and City Clerk Jones.
PUBLIC COMMENTS
No input.
CONSENT CALENDAR
I Minutes
RECOMMENDATION:
1.1 Approve the minutes of May 13, 2003.
MOTION: Agency Member Naggar moved to apprbve Consent Calendar Item No. 1. The
motion was seconded by Agency Member Comerchero and voice vote reflected approval with
the exception of Agency Member Roberts who was absent.
PUBLIC HEARING
2 Formation of Community Facilities District No. 01-3 (Wolf Creek) and Amendment of
of Resolution of Intention to form the District
(Continued from May 13, 2003)
RECOMMENDATION:
2.1 Continue the public hearing to the meeting of July 8, 2003.
At this time, the public hearing was opened.
MOTION: Agency Member Naggar moved to continue the matter to the meeting of July 8,
2003. The motion was seconded by Agency Member Comerchero and voice vote reflected
approval with the exception of Agency Member Roberts who was absent.
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AUTHORITY BUSINESS
3
Approval of Issuance of Bonds for Temecula Pub c F nancin.q Authority Community
Facilities District No. 03-1 (Crowne Hill)
(Continued from May 13, 2003)
RECOMMENDATION:
3.1 Adopt a resolution entitled:
RESOLUTION NO. TPFA 03-12
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
City Attorney Thorson reviewed the staff report (of record), advising that this final action will
include approval of the Fiscal Agent Agreement, approval of the Preliminary Official Statement,
and approval of the Bond Purchase Agreement and noting that the amount of bonds will not
exceed a maximum principle amount of $25 million to be issued in two separate series.
For Agency Member Stone, City Attorney Thorson clarified that the proposed bond issuance
has no affect on the City's General Fund and that it'will only affect the specific area within the
tract and that the landowners have voted to approve the proposed Special Tax Bonds.
MOTION: Agency Member Comerchero moved to approve Consent Calendar Item No. 3. The
motion was seconded by Agency Member Naggar and voice vote reflected approval with the
exception of Agency Member Roberts who was absent.
EXECUTIVE DIRECTOR'S REPORT
No comment.
BOARD OF DIRECTORS' REPORTS
No comments.
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ADJOURNMENT
At 7:39 P.M., the Temecula Public Financing Authority meeting was formally adjourned.
ATTEST:
,Jeffrey E. Stone, Chairman
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