Item 18 - Waiver of Annual Meeting for the Poway Public Financing Authority AGENDA REPORT
,76.0 OF Poo,�r
CITY OF POWAY j 1
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 \:>,,E. - ;�
discussed separately.If you wish to have this report pulled for discussion,please fill out a slip indicating the report number '•�crry cc THE coon=
and give it to the City Clerk prior to the beginning of the City Council meeting.
TO: Chairman and Directors of the Poway Public Financing Authority
FROM: James L. Bowersox, Executive • ..r
INITIATED BY: Marjorie K. Wahlsten, Secretary n•-tr.:-
DATE: January 5, 1993
SUBJECT: Waiver of Annual Meeting for Poway Public Financing Authority
ABSTRACT
It is recommended that the Poway Public Financing Authority, pursuant to the
provisions of the bylaws, adopt a resolution waiving the requirement for its annual
meeting
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
requirement of its annual meeting.
FISCAL IMPACT
None anticipated.
PUBLIC NOTIFICATION AND CORRESPONDENCE
Standard distribution.
/ ACTION: Adopted Resolution No. F-93-01. Wat<.. C/J1-4...,
Marie Lofton, Deputy City Clerk
[ 1 of 3 ) JAN 5 1993 ITEM 18
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Agenda Report - Poway Public Financing Authority
January 5, 1993
Page 2
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RECOMMENDATION
It is recommended that the Poway Public Financing Authority adopt the attached
resolution waiving the requirement for an annual meeting.
JLB:MKW:ml
Attachments:
Resolution
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2 of 3 JAN 5 1993 ITEM 18
RESOLUTION NO. F-93- 0
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"); and
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 therefor exists.
PASSED, ADOPTED AND APPROVED, by the Poway Public Financing Authority of
the City of Poway, California, at a meeting thereof this 5th day of January, 1993.
Don Higginson, Chairman
ATTEST:
Marjorie K. Wahlsten, Secretary
STATE OF CALIFORNIA )
) ss.
COUNTY OF SAN DIEGO )
I, Marjorie K. Wahlsten, Secretary of the Poway Public Financing Authority, do
hereby certify under penalty of perjury that the foregoing Resolution No. F-93- was
duly adopted by the Poway Public Financing Authority at a meeting of said Agency held on
the 5thday of January, 1993, and that it was so adopted by the following vote:
AYES:
•
NOES:
ABSTAIN:
ABSENT:
Marjorie K. Wahlsten, Secretary
Poway Public Financing Authority
3Vwplresolulpub.fin
3 of 3 JAN 5 1993 ITEM 18
*RESOLUTION NO. F-93-01 •
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
-
91 -16 of the Poway Redevelopment Agency (the "Agency"); and
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 therefor exists.
PASSED, ADOPTED AND APPROVED, by the Poway Public Financing Authority of
the City of Poway, California, at a meeting thereof this 5th day of January, 1993.
Don Higginson CFnan
ATTEST:
Marjorie K. Wahlsten, Secretary
STATE OF CALIFORNIA )
1 ss.
COUNTY OF SAN DIEGO )
I, Marjorie K. Wahlsten, Secretary of the Poway Public Financing Authority, do
hereby certify under penalty of perjury that the foregoing Resolution No. F-93-01 was
duly adopted by the Poway Public Financing Authority at a meeting of said Agency held on
the 5th day of January, 1993, and that it was so adopted by the following vote:
AYES: CAFAGNA, CALLERY, EMERY, SNESKO, HIGGINSON
NOES: NONE
ABSTAIN: NONE
ABSENT: NONE
Marjorie 16 Wahlsten, Secretary
Poway Public Financing Authority
31wp',resolu pub.fin