FA 1993 05-04 CITY OF POWAY, CALIFORNIA
MINUTES OF THE POWAY PUBLIC FINANCING AUTHORITY
REGULAR MEETING
MAY 4, 1993
The May 4, 1993, regular meeting of the Poway Public Financing Authority
was called to order at 7:03 p.m., by Chairman Higginson at the City Council
Chambers, 13325 Civic Center Drive, Poway, California.
DIRECTORS ANSWERING ROLL CALL
Susan Callery, Bob Emery, Tony Snesko, Don Higginson
DIRECTORS ABSENT AT ROLL CALL
Mickey Cafagna
STAFF MEMBERS PRESENT
James Bowersox Executive Director
John Fitch Assistant Executive Director
Marjorie Wahlsten Secretary
PLEDGE OF ALLEGIANCE
Director Emery led the Pledge of Allegiance.
PUBLIC ORAL COMMUNICATIONS
ChairmanHigginson explained the procedure for Public Oral Communications. There
was no one present wishing to speak.
ITEM 3 (405-01R)
TAX ALLOCATION REFUNDING BONDS, SERIES 1993
Staff report by Executive Director Bowersox. Authority is being requested for
issuance of $110 million in Subordinated Tax Allocation Refunding Bonds, Series
1993. These bonds will refund previously issued 1989 and 1991 bonds, resulting
in approximately $92,400 in annual debt service savings, and a new bond issue of
$45.7 million to finance a variety of redevelopment capital improvement and low
and moderate income housing projects.
Speaking in favor of staff recommendation:
Tom Woertz, 12638 Hedgetree Court, representing Poway Pony/Colt League
asked if the field renovation at Poway High School includes lights.
City Manager Bowersox stated it does.
Don Glover, 15964 Lime Grove Road, also with Poway Pony/Colt League
Page 2 - CITY OF POWAY PUBLIC FINANCING AUTHORITY - May 4, 1993
Motion by Director Snesko, seconded by Director Emery to adopt Resolution No. F-
93-02, entitled, "A Resolution of the Poway Public Financing Authority Approving
the Form of and Authorizing the Execution of an Indenture of Trust, a Purchase
Contract and an Official Statement Relating to the Issuance of the Agency's
Series 1993 Subordinated Tax Allocation Refunding Bonds and Approving Certain
Actions in Connection Therewith." Motion carried 4-0 with Director Cafagna
absent.
ADJOURNMENT
Chairman Higginson adjourned the meeting at 9:20 p.m. on motion by Director
Callery, seconded by Director Snesko.
Marjor~e l~. Wahlsten, Secretary
Poway ~ic Financing Authority