Item 11 - Waiver of Annual Meeting for the Poway Public Financing Authority c
AGENDA CF w r
REPORT SUMMARY
TO: Honorable Mayor and Members of e City Council
FROM: James L. Bowersox, City Maria t -
INITIATED BY: Lori Anne Peoples, City Clerk0
Sherrie D. Worrell, Deputy City Clerk
DATE: January 4, 2000
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 Approved staff recommendation . Adopted Resolution No . F-00-01 , •
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• Lori Anne Peoples , City Clerk
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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, staff 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 of the City Council
FROM: James Bowersox, City Marta.+
INITIATED BY: Lori Anne Peoples, City Clerk40 , i
Sherrie D. Worrell, Deputy City Clerk
DATE: January 4, 2000
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.
ENVIRONMENTAL REVIEW
None.
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.
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Attachments:
2 o f,..4 - Proposed resolution.
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RESOLUTION NO. F-00-01
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 4th day of January, 2000.
Michael P. Cafagna, Chairman
ATTEST:
Lori Anne Peoples, Secretary
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Resolution No. F-00-01
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-00-01 was duly adopted
by the Poway Public Financing Authority at a meeting of said agency held on the 4th day
of January, 2000, and that it was so adopted by the following vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
Lori Anne Peoples, Secretary
Poway Public Financing Authority
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