FA 1995 10-17 CITY OF POWAY, CALIFORNIA
HINUTES OF THE POWAY PUBLIC FINANCING AUTHORITY
REGULAR HEETING
OCTOBER 17, lgg5
The October 17, 1995, regular meeting of the Poway Public Financing
Authority was called to order at 7:05 p.m., by Chairman Higginson at the City
Council Chambers, 13325 Civic Center Drive, Poway, California.
DIRECTORS ANSWERING ROLL CALL
Mickey Cafagna, Susan Callery, Bob Emery, Betty Rexford, Don Higginson
STAFF HEHBERS PRESENT
James Bowersox
John Fitch
Marjorie Wahlsten
Executive Director
Assistant Executive Director
Secretary
PLEDGE OF ALLEGIANCE
Director Callery led the Pledge of Allegiance.
PUBLIC ORAL COMMUNICATIONS
Chairman Higginson explained the procedure for Public Oral Communications.
There was no one present wishing to speak.
ITEM 7 (405-01)
1995 WATER REVENUE BONDS
Staff report by Executive Director Bowersox. Staff recommends sale of
$4,000,000 of Water Revenue Bonds to finance the water treatment plant
upgrade. In order to proceed it is necessary for the City Council and Poway
Public Financing Authority to adopt a Resolution approving the sale, the
Installment Purchase Agreement, Indenture of Trust Agreement with Bank of
America, Bond Purchase Agreement with Grigsby Brandford, and Bond Counsel
Agreement with Stradling, Yocca, Carlson & Rauth.
Motion by Director Emery, seconded by Director Callery to adopt Resolution No.
F-95-02, entitled, "Resolution of the Board of Directors of the Poway Public
financing Authority Approving an Installment Purchase Agreement and an
Indenture of Trust, Authorizing the Sale, Execution and Delivery of Not More
than $4,000,000 Principal Amount of Revenue Bonds, Series 1995 and Approving
Certain Other Agreements and Documents and Authorizing Certain Actions in
Connection Therewith." Motion carried unanimously.
ADJOURNMENT
Chairman Higginson adjourned the meeting at 9:45 p.m. on motion by Director
Rexford, seconded by Director Callery.
Marjor~e l~. Wahlsten, Secretary
Poway ~,publtc Financing Authority