FA 2001 06-12 CITY OF POWAY, CALIFORNIA
MINUTES OF THE POWAY PUBLIC FINANCING AUTHORITY
REGULAR MEETING
JUNE 12, 2001
The June 12, 2001, regular meeting of the Poway Public Financing
Authority was called to order at 7:00 p.m., by Chairman Cafagna at the City
Council Chambers, 13325 Civic Center Drive, Poway, California.
DIRECTORS ANSWERING ROLL CALL
Bob Emery, Jay Goldby, Don Higginson, Betty Rexford, Mickey Cafagna
STAFF MEMBERS PRESENT
James Bowersox Executive Director
Lori Anne Peoples City Clerk
PLEDGE OF ALLEGIANCE
Vice Chairman Goldby led the Pledge of Allegiance.
PUBLIC ORAL COMMUNICATIONS
Chairman Cafagna explained the procedure for Public Oral Communications.
There was no one present wishing to speak.
ITEM 5.1 (405-01R)
SERIES 2001
TAX ALLOCATION BONDS
Introduction by City Manager Bowersox. Overview of staff report by
Administrative Services Director Shafer. The proposed action would authorize
the issuance of approximately $80 million in new Tax Allocation Bonds, which by
law must be used to implement the Paguay Redevelopment Plan. This debt
would be repaid by Tax Increment now being generated in the Project Area and
would not result in any increase in taxes.
There was no one present wishing to speak.
Motion by Councilmember Emery, seconded by Councilmember Rexford, to
adopt Resolution Nos. 01-046, entitled, "A Resolution of the City Council of the
City of Poway, California, Approving the Issuance by the Poway Redevelopment
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Agency of Its Tax Allocation Bonds, Series 2001, and Making Certain
Determinations Relating Thereto," R-01-04, entitled, "A Resolution of the Poway
Redevelopment Agency Authorizing the Issuance of Tax Allocation Bonds,
Series 2001, of Said Agency in a Principal Amount of Not-To-Exceed Eighty-Two
Million Dollars ($82,000,000), Approving Certain Documents and Taking Certain
Other Actions in Connection Therewith," and Resolution No. F-01-02, entitled, "A
Resolution of the Board of Directors of the Poway Public Financing Authority
Approving a Purchase Contract in Connection With The Purchase and Sale of
the Tax Allocation Bonds for the Poway Redevelopment Agency, Paguay
Redevelopment Project, Series 2001, Authorizing the Executive Director to Set
the Final Terms for the Purchase and Sale of the Bonds, Authorizing Other
Official Actions and Providing for Other Matters Property Relating Thereto."
Motion carried unanimously.
ADJOURNMENT
Chairman Cafagna adjourned the meeting at 9:59 p.m. on motion by Director
Rexford, seconded by Director Emery. ~o ~ _h~n.n ~.~.0..~..~
~- e eoples, ~ecrc~tary
Poway Public Financing Authority
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