Resolution Number SJCPFA 05-06-21-01RESOLUTION NO. SJCPFA 05-6-21fl1
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE SAN JUAN
CAPISTRANO PUBLIC FINANCING AUTHORITY, ADOPTING THE FISCAL
YEAR 2005/2006 BUDGET AND AUTHORIZING EXPENSES AND
APPROPRIATIONS RELATED THERETO
WHEREAS, the Board of Directors of the San Juan Capistrano Public Financing
Authority held a public meeting to consider a proposed Budget beginning July 1, 2005 and
ending June 30, 2006; and,
WHEREAS, the proposed Fiscal Year 2005/2006 Budget reflects principal and
interest payments due on outstanding debt and other related costs deemed appropriate by
the Board of Directors; and,
WHEREAS, the Board of Directors intends to use the proposed Fiscal Year
2005/2006 Budget as a guide for allocating the Authorities resources; and,
WHEREAS, the Board of Directors recognizes that the proposed Fiscal Year
2005/2006 Budget may require adjustments from time to time, and accordingly, the
Executive Director is authorized to execute necessary transfers to carry out the scope of
service as approved.
NOW, THEREFORE, BE IT RESOLVED, that the San Juan Capistrano Public
Financing Authority Board of Directors does hereby adopt the proposed Fiscal Year
2005/2006 Operating Budget (Exhibit A) as detailed in the attached schedule and as
summarized below:
Year Ending June 30 Authorized Expenses
2006
$1,906,261
PASSED, APPROVED, AND ADOPTED this 21" day of June 2005.
ATTEST:
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R. MONAHAN, SECRETARY
WYA HART, CHAIRMAN
06-21-2005
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) ss.
CITY OF SAN JUAN CAPISTRANO )
I, MARGARET R. MONAHAN, appointed Secretary of the San Juan Capistrano Public
Financing Authority, do hereby certify that the foregoing Resolution No. SJCPFA 05-
06-21-01 was duly adopted by the Board of Directors of the San Juan Capistrano Public
Financing Authority at a Regular meeting thereof, held the 21s` day of June 2005, by the
following vote:
AYES:
DIRECTORS:
Allevato, Bathgate, Soto, Swerdlin, and Hart
NOES
DIRECTORS:
None
ABSENT:
DIRECTORS:
None
R. MONAHAN, Secretary
SAN JUAN CAPISTRANO
PUBLIC FINANCING AUTHORITY
DEBT SERVICE FUND
FY 2005/2006
ACTUAL
PROJECTED
PROPOSED
DESCRIPTION
2003/04
2004/05
2005/06
BEGINNING FUND BALANCE
$991,013
$996,471
$2,183,524
PROJECTED REVENUE
Lease Revenue - City of SJC Water Enterprise
Series 2002 Certificates of Participation
656,243
638,596
637,221
Series 2004 Certificates of Participation
0
709,163
1,221,131
Interest Income:
Series 2002 Certificates of Participation
36,856
32,833
32,833
Series 2004 Certificates of Participation
0
48,750
65,000
Bond Proceeds - Series 2004
0
1,140,313
0
PROJECTED REVENUE - TOTAL
$693,099
$2,569,655
$1,956,185
AVAILABLE RESOURCES
$1,684,112
$3,566,126
$4,139,709
PROJECTED EXPENDITURES
Certificates of Participation, Series 2002:
Principal
315,000
320,000
330,000
Interest
370,116
359,004
347,629
Administration
2,525
2,500
2,500
Certificates of Participation, Series 2004:
Principal
0
0
245,000
Interest
0
696,098
976,132
Administration
0
5,000
5,000
PROJECTED EXPENDITURES - TOTAL
$687,641
$1,382,602
$1,906,261
ENDING FUND BALANCE
$996,471
$2,183,524
$2,233,448
Series 2002 Bond Reserve
(698,343)
(698,343)
(698,343)
Series 2004 Bond Reserve
(1,140,313)
1,140,313
ENDING FUND BALANCE - AVAILABLE
298,128
344,868
394,792