HomeMy WebLinkAboutMinutes 2003-05-28 CIFA MINUTES
CAPITAL IMPROVEMENT FINANCING
AUTHORITY
CITY OF SOUTH SAN FRANCISCO
SPECIAL MEETING
MAY 28, 2003
MUNICIPAL SERVICES BUILDING
COMMUNITY ROOM
33 ARROYO DRIVE
1. Call to Order 6:45 p.m.
(Cassette Tape No. 1)
2. Roll Call
Boardmembers Femekes, Garbarino and Green,
Vice Chair Matsumoto and Chairman Gonzalez
3. Oral Communications None
4. Motion to approve the minutes of December 11, 2002
Motion-Femekes/Second-Garbarino: To approve the minutes of December 11,
2002. Unanimously approved by voice vote.
o
Resolution authorizing the issuance and sale of 2003 Refunding Revenue Bonds
approving a Second Amended and Restated Conference Center Use Agreement,
Escrow Deposit and Trust Agreement, Official Statement, and authorizing official
actions
Staff report presented by Finance Director Steele.
Director Steele responded to questions, indicating that the decline in hotel room
occupancy has not impacted the debt service.
Vice-Chair Matsumoto requested that lengthy attachments be double-sided.
Boardmembers concurred.
Chairman Gonzalez asked for assurance that the company handling the refinancing
is sound and staff confirmed.
Boardmember Garbarino asked what the overall total savings would be by
refinancing and Director Steele stated it is estimated at $.5 million.
Motion-Femekes/Second-Matsumoto: to approve Resolution No. CIFA 1-2003,
authorizing the issuance and sale of 2003 refunding revenue bonds (South San
Francisco Conference Center), approving a second amended and restated
conference center use agreement, escrow deposit and trust agreement, official
statement, and authorizing official actions. Unanimously approved by voice vote.
Iq/.,
6. Adjournment
Motion-Garbarino/Second-Green: To adjourn the meeting at 6:53 p.m. Unanimously
approved by voice vote.
Submitted by:
/
Sylvia M Payne, City Clerk"
City of South San Francisco
Approved:~...~Pedro G ~'
City of South San Francisco
The entries of this Capital Improvement Financing Authority meeting show the action taken by the Board to
dispose of an item. Oral communications, arguments, and comments are recorded on tape. The tape and
documents related to the items are on file in the Office of the City Clerk and are available for inspection, review
and copying.
SPECIAL CAPITAL IMPROVEMENT FINANCING AUTHORITY MEETING MAY 28, 2003
MINUTES PAGE 2