91-0416_CRA_Minutes_Regular MeetingAPRIL 16, 1991
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REGULAR MEETING OF THE SAN JUAN CAPISTRANO
COMMUNITY REDEVELOPMENT AGENCY
BOARD OF DIRECTORS
The Regular Meeting of the Board of Directors of the City of San
Juan Capistrano Redevelopment Agency was called to order by
Chairman Buchheim at 8:37 p.m. in the City Council Chamber.
ROLL CALL: PRESENT: Lawrence F. Buchheim, Chairman
Gil. Jones, Vice Chairman
Kenneth E. Friess, Director
Gary L. Hausdorfer, Director
Jeff Vasquez, Director
ABSENT: None
STAFF PRESENT: Stephen B. Julian, Executive Director; Thomas P.
Clark, Jr., Agency Counsel; David Bentz, Finance Officer;
Jeffrey C. Parker, Acting Agency Secretary; George Scarborough,
Assistant City Manager; Thomas Tomlinson, Acting Director of
Planning; William Huber, Director of Engineering and Building
Services; Al King, Director of Community Services; Nancy Bernardi,
Deputy City Clerk/Recording Secretary.
MINUTES
Regulate �IeetingQf Anril 2. 1991:
It was moved by Chairman Buchheim, seconded by Director Jones,
that the Minutes of the Regular Meeting of April 2, 1991, be
approved as submitted. The motion carried by the following vote:
AYES: Directors Friess, Hausdorfer, Jones,
Vasquez, and Chairman Buchheim
NOES: None
ABSENT: None
BOARD ACTIONS
1. SELECTION OF FINANCIAL CONSUIMT REGAR12INQ THE REFUND OF THE
U,_250,000 BO D ANTICIPATION NOTE (340.40
written communication:
Report dated April 16, 1991, from the Finance Officer,
advising that the Agency will be required to retire a
$6,250,000 Tax Allocation Note in August 1991 and recommend-
ing that the Agency issue 25 -year Tax Allocation Bonds for
sale in May 1991. The firm of Urban Futures, Inc. was
recommended to act as the financial advisor at a cost of
$28,500.
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A rova o Contract:
It was moved by Director Hausdorfer, seconded by Director
Friess, and unanimously carried that the proposal of Urban
Futures, Inc. to provide financial advisory services be
approved for the proposed Tax Allocation Bonds sale, and that
the fee in the amount of $28,500 be allocated from bond
proceeds.
2. SELECTION OF BOND COUNSEL REGARDING THE REFUNQ OF THE
$6,250,000 BON ANTICIPATION NOTE (600240/240-.40
Written Co un'cat on:
Report dated April 16, 1991, from the Finance Officer,
recommending the firm of Stradling, Yocca, Carlson & Rauth to
act as bond counsel to furnish legal services and render an
opinion in connection with the issuance of Tax Allocation
Bonds in May 1991, at an estimate fee of $19,875, plus out-
of-pocket expenses.
Councilman Vasquez questioned possible conflicts of interest
with the Acting City Attorney acting as both legal counsel
and bond counsel and noted receipt of a letter from the FPPC
addressing this issue. Mr. Clark explained that a conflict
of interest would arise only if the existing special counsel
were to recommend approval of his legal firm as bond counsel.
Approval of_Contract:
It was moved by Director Hausdorfer, seconded by Director
Friess, and carried with Councilman Vasquez voting in the
negative that the proposal of Stradling, Yocca, Carlson &
Rauth to provide bond counsel services for the proposed Tax
Allocation Bonds sale be approved and that the fees be
allocated from bond proceeds. The Chairman was authorized to
execute the letter agreement on behalf of the Agency.
ADJOURNMENT
There being no further business before the Board, the meeting was
adjourned at 8:44 p.m. to the next meeting date of Tuesday,
April 30, 1991, at 5:00 p.m. in the City Council Chamber.
Respectfully submitted,
ATTEST:
er
LA CE F. BUCHHEI , CHAIRMAN
C.
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ACTING AGENCY SECRETARY
4/16/91
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NOTICE
AN ADJOURNED REGULAR MEETING OF THE BOARD OF DIRECTORS OF THE SAN
JUAN CAPISTRANO COMMUNITY REDEVELOPMENT AGENCY WILL BE HELD ON
THE 30TH DAY OF APRIL, 1991, AT 5:00 P.M. IN THE COUNCIL CHAMBER OF CITY
HALL, 32400 PASEO ADELANTO, SAN JUAN CAPISTRANO.
POSTED: APRIL 17, 1991