Resolution Number SJCPFA 16-06-21-01RESOLUTION NO. SJCPFA 16-06-21-01
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE SAN JUAN
CAPISTRANO PUBLIC FINANCING AUTHORITY, ADOPTING THE
FISCAL YEARS 2016-2017 AND 2017-2018 BUDGETS AND
AUTHORIZING APPROPRIATIONS RELATED THERETO
WHEREAS, the Proposed Fiscal Years 2016-2017 and 2017-2018 Budgets
reflect 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 Years
2016-2017 and 2017-2018 Budgets as a guide for allocating the Authority's resources;
and,
WHEREAS, the Board of Directors recognizes that the Proposed Fiscal Years
2016-2017 and 2017-2018 Budgets 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 Years
2016-2017 and 2017-2018 Budgets (Exhibit A) as detailed in the attached schedule and
as summarized below:
Year Ending June 30
2017
2018
Authorized Expenses
$793,545
$795 ,445
PASSED, APPROVED, AND ADOPTED ~=f J ~
PAM PATTERSON, ESQ., CHAIR
ATTEST:
1 6/21/2016
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) ss .
CITY OF SAN JUAN CAPISTRANO )
I, MARIA MORRIS, appointed Secretary of the San Juan Capistrano Public Financing Authority
of the City of San Juan Capistrano, do hereby certify that the foregoing Resolution No.
SJCPFA 16-06-21-01 was duly adopted by the Board of Directors of the San Juan Capistrano
Public Financing Authority at a regular meeting thereof, held the 21st day of June 2016, by the
following vote:
AYES:
NOES
ABSENT:
BOARD DIRECTORS : Perry, Reeve, Allevato, Ferguson and Chair Patterson
BOARD DIRECTORS : None
BOARD DIRECTORS : None
~b~Q Rx AR IA .M ORRI , Se ar
2 6/21/2016
San Juan Capistrano Public Financing Authority
DEBT SERVICE FUND
FY2016/18
Percent Percent
ACTUAL ADOPTED PROPOSED Change From PROPOSED Change From
Description 2014/15 2015/16 2016/17 Prior Year 2017/18 Prior Year
PROJECTED REVENUE & OTHER SOURCES
Lease Revenue-City of SJC Water Enterprise :
Series 2002 Certificates of Participation $ 3,669,044 $ 664,460 $ -100.00% $ ••
Series 2004 Certificates of Participation 17,585,416 1,384,395 -100.00% ••
Series 2009 Certificates of Participation 799,668 793,645 793,545 -0.01% 795,445 0.24%
Interest Income:
Series 2002 Certificates of Participation 13,336 40,000 -100.00% ••
Series 2004 Certificates of Participation 26,125 70,000 -100.00% ••
Series 2009 Certificates of Participation so 0.00% ••
. ESTIMATED REVENUE-TOTAL 22,093,639 2,952,500 793,545 -73% 795,445 ..
ESTIMATED EXPENDITURES & OTHER USES
Certificates of Participation, Series 2002:
Principal 475,000 -100.00% **
Interest 81,059 189,460 -100.00% ••
Bond administration costs 1,950 3,500 -100.00% **
Amortization of COl •• **
Certificates of Participation, Series 2004:
Principal 575,000 -100.00% ••
Interest 324,937 809,395 -100.00% **
Bond administration costs 114,278 3,500 -100.00% **
Amortization of COl 60,125 •• **
Certificates of Participation, Series 2009:
Principal 310,000 320,000 3.23% 335,000 4.69%
Interest 494,844 483,645 471,045 -2.61% 457,945 -2.78%
Bond administration costs 3,824 4,000 2,500 -37.50% 2,500 **
Amortization of COl (1,806) ** **
ESTIMATED EXPENDITURES-TOTAL 1,079,211 2,853,500 793,545 -72% 795,445 ..
NET REVENUE OVER/(UNDER) EXPENDITURES $ 21,014,428 $ 99,000 $ • $ •
EXHIBIT A