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HomeMy WebLinkAboutMinutes 2004-05-28 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-Fernekes/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. 6. Adjournment Motion-Garbarino/Second-Green: To adjourn the meeting at 6:53 p.m. Unanimously approved by voice vote. Submitted by: S~a M. eayne, City Clerk City of South San Francisco Approved: City of South San Francisco SPECIAL CAPITAL IMPROVEMENT FINANCING AUTHORITY MEETING MAY 28, 2003 MINUTES PAGE 2