Item 11 - Waiver of Annual Meeting for the Poway Public Financing Authority •
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AGENDA REPORT SUMMARY , . , 9y
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TO: Honorable Mayor and Members oche City Council '" rt.'s c. /
FROM: James L. Bowersox, City Mana
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INITIATED BY: Lori Anne Peoples, City Cleric g '
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DATE: January 9, 2001
SUBJECT: Waiver of Annual Meeting for the Poway Public Financing Authority
ABSTRACT
Pursuant to the provisions of the Bylaws, it is recommended that the Poway Public Financing
Authority, adopt a resolution waiving the requirement for its annual meeting.
ENVIRONMENTAL REVIEW
This action is not subject to CEQA review.
FISCAL IMPACT
None.
ADDITIONAL PUBLIC NOTIFICATION AND CORRESPONDENCE
None.
RECOMMENDATION
It is recommended that the Poway Public Financing Authority adopt the attached resolution
waiving the requirement for an annual meeting.
ACTION
Adopted Resolution No. F-01-01 , 5-6194.i. J60
r Anne eop es, City Clerk
eAlegislaitydziAagendaVinartnisum
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i of 4 JAN 0 9 2001 ITEM # /1
C ' ■ O 1 ■® G„,y OF POWq\
AGENDA REPORTttl THE CCOV�i
This report is included on the Consent Calendar. There will be no separate discussion of the report prior to approval by the City Council unless members of the Council,
stat(or public request it to be removed from the Consent Calendar and discussed separately. If you wish to have this report pulled for discussion,please fill out a slip
indicating the report number and give it to the City Clerk prior to the beginning of the City Council meeting.
TO: Honorable Mayor and Members o the City Council
ea
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FROM: James L. Bowersox, City Managi:
INITIATED BY: Lori Anne Peop•- ' ity Clerk
DATE: January 9, 2001
SUBJECT: Waiver of Annual Meeting for Poway Public Financing Authority
BACKGROUND
On October 8, 1991, the City Council and the Poway Redevelopment Agency approved the formation
of the Poway Public Financing Authority, a joint powers authority, pursuant to the Marks-Roos Local
Bond Pooling Act of 1985. The Authority was formed for the purpose of assisting the City and the
Redevelopment Agency in financing and refinancing public capital improvements. The Bylaws state
that the Authority shall hold at least one regular meeting each year unless waived by a resolution
adopted by the Authority. It is recommended that the Poway Public Financing Authority adopt the
attached resolution waiving the requirements of its annual meeting.
FINDINGS
None required.
•
FISCAL IMPACT
None.
ENVIRONMENTAL REVIEW
None.
ADDITIONAL PUBLIC NOTIFICATION AND CORRESPONDENCE
None.
RECOMMENDATION
It is recommended that the Poway Public Financing Authority adopt the attached resolution waiving
the requirement for an annual meeting.
JLB:Iap
Attachments:
Proposed resolution
N:\cityllegislat\citydrk\agenda\finannI.rpt
2 of a JAN 0 9 2001 ITEM # 11
RESOLUTION NO. F-01-01
A RESOLUTION OF THE BOARD OF DIRECTORS
OF THE POWAY PUBLIC FINANCING AUTHORITY WAIVING ITS ANNUAL
MEETING
WHEREAS, The Poway Public Financing Authority(the"Authority")was created on
October 8, 1991, pursuant to the Marks-Roos Local Bond Pooling Act of 1985 and
pursuant to Resolution No. 91-116 of the City of Poway (the "City") and Resolution No. R-
91-16 of the Poway Redevelopment Agency (the "Agency");
WHEREAS,the Board of Directors of the Authority(the "Board"), having determined
that no necessity currently exists for conducting an annual meeting of the Board, desires,
pursuant to the terms of that certain Joint Powers Agreement by and between the City and
the Agency executed on October 29, 1991, to waive its annual meeting requirement.
NOW THEREFORE BE IT RESOLVED, by the Board of Directors of the Poway
Public Financing Authority as follows:
Section 1. The foregoing statements are true and correct.
Section 2. The Board hereby waives the requirement of an annual meeting of the
Board and determines that, hereafter, all meetings of the Board shall be held only as and
when the Board determines in its sole discretion that the necessity therefore exists.
PASSED, ADOPTED AND APPROVED, by the Poway Public Financing Authority of
the City of Poway, California, at a meeting thereof this 9th day of January, 2001.
Michael P. Cafagna, Chairman
ATTEST:
Lori Anne Peoples, Secretary
s of a ]
JAN 0 9 2001
ITEM #�_
Resolution No. F-01-01
Page 2
STATE OF CALIFORNIA )
) ss.
COUNTY OF SAN DIEGO )
I, Lori Anne Peoples, Secretary of the Poway Public Financing Authority, do hereby
certify under penalty of perjury that the foregoing Resolution No. F-01-01 was duly adopted
by the Poway Public Financing Authority at a meeting of said agency held on the 9th day of
January, 2001, and that it was so adopted by the following vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
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Lori Anne Peoples, Secretary
Poway Public Financing Authority
r JAN 0 9 2001
a of a ITEM # l I