HomeMy WebLinkAboutMin - FA - 1998.12.070
BURLINGAME, CALIFORNIA
Financing Authority
December 7, 1998
CALL TO ORDER
A duly noticed regular meeting of the Burlingame Financing Authority was held on the above date in
the City Hall Council Chambers. The meeting was called to order at 7:00 p.m. by Chair Mary
Janney.
ROLL CALL
BOARD MEMBERS PRESENT: GALLIGAN, JANNEY, KNIGHT, O'MAHONY, SPINELLI
BOARD MEMBERS ABSENT: NONE
PUBLIC COMMENT - None.
CONSENT CALENDAR
a. RESOLUTION AMENDING CONFLICT OF INTEREST CODE
City Attorney's memo of November 23, 1998 recommended council adopt this resolution.
The Financing Authority was established in 1995 and was key to financing the library and
waste water treatment plant improvements. State law requires that the Authority review its
Conflict of Interest Code every two years.
Board Member Galligan moved adoption of the Resolution amending conflict of interest code.
Seconded by Board Member O'Mahony and carried unanimously 5-0 by voice vote.
ADJOURNMENT
Chair Janney adjourned the Financing Authority meeting at 7:02 p.m.
Judith A.
Secretary
fatti
1
BURLINGAME, CALIFORNIA
Burlingame Financing Authority
February 2, 1998
CALL TO ORDER
A duly noticed regular meeting of the Burlingame Financing Authority was held on the above date in the
City Hall Council Chambers. The meeting was called to order at 7:00 p.m. by Chairman Spinelli. The
chairman explained the Financing Authority would act on the refinancing of the 1991 COP issue, then it
would adjourn to the regular city council meeting.
PLEDGE OF ALLEGIANCE TO THE FLAG
Led by City Manager Dennis Argyres.
ROLL CALL
BOARDMEMBER PRESENT: GALLIGAN, JANNEY, KNIGHT, O'MAHONY, SPINELLI
BOARDMEMBER ABSENT: NONE
PUBLIC COMMENTS
There were no public comments.
• RESOLUTION 1-1998 OF THE BURLINGAME FINANCING AUTHORITY AUTHORIZING THE
ISSUANCE AND SALE OF LEASE REVENUE BONDS FOR THE BURLINGAME WASTEWATER
TREATMENT PROJECTS, AUTHORIZING EXECUTION AND DELIVERY OF LEASE REVENUE
BONDS, AUTHORIZING THE PROCUREMENT OF BOND INSURANCE FOR THE BONDS,
APPROVING THE FORMS OF A TRUST AGREEMENT, A FACILITIES LEASE, AND A
FACILITIES SUBLEASE, APPROVING FORMS OF AND AUTHORIZING PUBLICATION AND
DISTRIBUTION OF AN OFFICIAL NOTICE OF SALE, A NOTICE OF INTENTION TO SELL
BONDS, AND AN OFFICIAL STATEMENT DESCRIBING SAID BONDS, AND AUTHORIZING
EXECUTION OF DOCUMENTS AND THE TAKING OF ALL NECESSARY ACTIONS
RELATING TO THE ISSUANCE OF THE BONDS
The City Manager reviewed the Finance Director's memo of January 29, 1998 which recommended the
authority approve the resolution approving issuance by the Burlingame Financing Authority of not to
exceed $18.5 million in COPs for refinancing the 1991 Wastewater Treatment Plant improvements and
paying for the California Drive sewer interceptor project. The bids would be opened on February 15
and if they meet the rate of 5.5 percent interest there will be sufficient savings to justify this action. The
Finance Director was present to answer any specific questions.
Boardmember Galligan asked about options to call. Staff responded we could have such options on the
new issue but it would be more expensive; options are for longer periods and this new issue will be for
the same term as the current issue, about 14 years.
• Boardmember O'Mahony moved approval of RESOLUTION 1-1998. Seconded by Boardlember
Galligan and carried unanimously 5-0 by roll call vote.
Burlingame City CouncilFebruary 2, 1998
ADJOURNMENT
00*� Chairman Spinelli adjourned the Financing Authority meeting at 7:07 p.m.
0
Judith A. lfatti
S ecretary
February 2, 1998Burlingame City Council