HomeMy WebLinkAbout011017 TPFA Action Minutes ACTION MINUTES
January 10, 2017
City Council Chambers, 41000 Main Street, Temecula, California
TEMECULA PUBLIC FINANCING AUTHORITY MEETING
The Temecula Public Financing Authority Meeting convened at 7:41 PM
CALL TO ORDER: Chairperson Maryann Edwards
ROLL CALL: DIRECTORS: Comerchero, Naggar, Rahn, Stewart, Edwards
TPFA PUBLIC COMMENTS (None)
TPFA BUSINESS
12 Temecula Public Financing Authority Community Facilities District No. 16-01 (Roripaugh
Ranch Phase 2) 2017 Special Tax Bonds — Random Selection of Board Member to
Achieve a Quorum of Four for Consideration of Approval of Issuance of the 2017 Bonds
- The General Counsel presented a report to the Board of Directors outlining the
conflicts of interest of Board Members Comerchero and Naggar relating to the
approval of the issuance of Temecula Public Financing Authority Community
Facilities District No. 16-01 (Roripaugh Ranch Phase 2) 2017 Special Tax Bonds
("2017 Bonds") due to the ownership of Europa Vineyard Estates being otherwise
related business entities to them, describing the legal need for achieving a
quorum of four Board members for the approval of the issuance of the 2017
Bonds, and the procedures to be used by the Secretary pursuant to Section 17805
of the Fair Political Practices Commission Regulations for the random selection
of one of these Board Members to participate in the approval of the issuance of
the 2017 Bonds. Utilizing the procedures of Section 18705, the Secretary
randomly selected Board Member Jeff Comerchero and announced that this
Board Member will be entitled to participate in all actions of the Authority Board
of Directors actions related to the 2017 Bonds or Butterfield Stage Road Phase 3
when four affirmative votes are required in order to Authority Board Actions
related thereto.
RECOMMENDATION:
12.1 The Secretary of Board shall randomly select either Board Member Comerchero
or Board Member Naggar in order to achieve a four-member quorum of the
Temecula Public Financing Authority ("Authority") Board of Directors required
consider the approval of the issuance of the Temecula Public Financing
Authority Community Facilities District No. 16-01 (Roripaugh Ranch Phase 2)
2017 Special Tax Bonds ("2017 Bonds") and for all matters relating to approval
of the Butterfield Stage Road Phase 3 public improvement project by the
Authority Board of Directors that may require a four-fifths vote of the Board.
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