HomeMy WebLinkAboutRDA Min 1986-09-22
9-22-86
Seal Beach, California
september 22, 1986
The Redevelopment Agency of the City of Seal Beach met
in regular session at 6:47 p.m. with Chairman Wilson calling
the meeting to order with the Salute to the Flag.
ROLL CALL
Present:
Chairman Wilson
Agency Members Clift, Grgas, Hunt, Risner
I
Absent: None
Also present: Mr. Nelson, Executive Director
Mr. Strausz, Assistant City Attorney
Mr. Thomas, Finance Director
Mrs. Yeo, City Clerk
WAIVER OF FULL READING
Risner moved, second by Grgas, to waive the reading in
full of all resolutions and that consent to the waiver
of reading shall be deemed to be given by all Agency members
after reading of the title unless specific request is made
at that time for the reading of such resolution.
AYES:
NOES:
Clift, Grgas, Hunt, Risner, Wilson
None Motion carried
APPROVAL OF MINUTES
Risner moved, second by Clift, to approve the minutes of
the regular adjourned meeting of August 11, 1986.
AYES:
NOES:
Clift, Grgas, Hunt, Risner, Wilson
None Motion carried
I
Risner moved, second by Clift, to approve the minutes of
the regular meeting of August 25, 1986.
AYES:
NOES:
ABSTAIN:
Clift, Hunt, Risner, Wilson
None
Grgas
Motion carried
Clift moved, second by Risner, to approve the minutes of
the special meeting of September 8, 1986.
AYES:
NOES:
Clift, Grgas, Hunt, Risner, Wilson
None Motion carried
RESOLUTION NUMBER 86-15 - TAX ALLOCATION BONDS - AMENDING
RESOLUTION NUMBER 86-11
Resolution Number 86-15 was presented to the Agency entitled
itA RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF
SEAL BEACH AMENDING RESOLUTION NO. 86-11." By unanimous
consent, full reading of Resolution Number 86-15 was waived.
The Finance Director reported bids were received and opened
this date for the two million dollar Tax Allocation Bond I
Issue of 1986, the recommended award of said bid to Prudential-
Bauche Securities at a coupon rate of 6.8430 and an average
net interest cost of 7.026. The Assistant City Attorney
reported that proposed Resolution 86-15 modifies Resolution
86-11, the amendments technical in nature, as requested
by the Bank of America, the fiscal agent, and AMBAC Indemnity,
the insurer of the bonds. Risner moved, second by Clift,
to adopt Resolution Number 86-15 as presented.
AYES:
NOES:
Clift, Grgas, Hunt, Risner, Wilson
None Motion carried
9-22-86
I
RESOLUTION NUMBER 86-16 - AWARD OF BONDS - PRUDENTIAL-BACHE
SECURITIES
Resolution Number 86-16 was presented to the Agency entitled
"A RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF
SEAL BEACH AWARDING BONDS OF THE AGENCY TO THE SUCCESSFUL
LOW BIDDER." By unanimous consent, full reading of Resolution
Number 86-16 was waived. Clift moved, second by Risner,
to adopt Resolution Number 86-16 as presented.
AYES:
NOES:
Clift, Grgas, Hunt, Risner, Wilson
None Motion carried
ORAL COMMUNICATIONS
There were no Oral Communications.
ADJOURNMENT
The Assistant City Attorney requested that the Agency adjourn
to a time certain in the event further modifications would
be necessary to the Tax Allocation Bond Issue documents.
Risner moved, second by Clift, to adjourn until Monday,
October 6, 1986 at 6:45 p.m.
AYES:
NOES:
Clift, Grgas, Hunt, Risner, Wilson
None Motion carried
Agency Member Wilson requested that her absence from the
next meeting be excused.
The meeting adjourned at 6:59 p.m.
I
~t:.~
Cha~rman
,
I