m-091404CITY ®F SANTA MGNICA
PUBLIC FINANCING AUTHORITY MINUTES
SEPTEMBER 14, 2004
A special meeting of the Santa Moniea Public Financing Authority was called to order by Chair
Bloom at 12:33 a.m., on Wednesday, September 15, 2004, at City Council Chambers, 1685 Main
Street.
Roll Call: Present: Chair Richard Bloom
Chair Pro Tem Kevin McKeown
Authority Member Michael Feinstein
Authority Member Ken Genser
Authority Member Robert T. Holbrook
Authority Member Pam O'Connor
Absent: Authority Member Herb Katz
Also Present: Assistant Secretary City Manager Gordon Anderson
Authority Attorney Marsha Jones Vloutrie
Authority Maria M. Stewart
CONVENE On order of the Chair, the Public Financing Authority convened to
a special joint meeting with the Parking Authority and the City
Council at 12:33 a.m., with Authority Member Katz absent.
CIVIC CENTER SPECIAi, JOINT MEETING OF THE CITY COUNCIL
PARKING STRUCTURE PARHING AUTHORITY, ANI) PUBLIC F'iNANCING
AUTHORITY:
8-C: Construction amendment for Ciyic Center Parking
Structure -recommendation that City Council authorize the City
Manager to negotiate and execute an amendment to design-build
Contract No. 8024 (CCS) with ARB, Inc., establishing a
guaranteed maximum price of $27,343,628; City Council hold a
public hearing; adopt Resolution No. 9980 (CCS) entitled: ` ~A
RESOLUTION OF THE CITY OF SANTA MONICA
AUTHORIZING THE EXECUTION AND DELIVERY OF A
GROUND LEASE, A LEASE AGREEMENT, AN INDENTURE
AND A CONTNUIlVG DISCLOSURE CERTIFICATE IN
CONNECTION WITH THE ISSUANCE OF THE PUBLIC
September 14, 2004
FINANCING AUTHORITY LEASE REVENUE BONDS.
APPROVING ISSUANCE OF $52,000,000 Iii 1 BONDS,
APPROVING NOTICE OF INTENTION TO SELL,
AUTHORIZING DISTRIBUTION OF OFFICIAL NOTICE
INVITING BIDS AND OFFICIAL STATEMENT IN
CONNECTION WITH THE OFFERING AND SALE OF SUCH
BONDS, APPROVING A PROMISSORY NOTE
ASSIGNMENT, AND AUTHORIZING THE EXECUTION OF
NECESSARY DOCUMENTS AND CERTIFICATES AND
RELATED ACTIONS"; and approve the expendihue
appropriations and budget changes proposed. Recommendation
that the Public Financing Authority adopt Resolution No. 4 (PFA)
authorizing execution and delivery of documents for the issuance
of the Public Financing Authority Lease Revenue Bonds.
Recommendation that the Parking Authority adopt Resolution
24~ (PAS) for the assignment of promissory note payments from
the Parking Authority to the City, was presented.
There was no one present for public comment.
Motion b~Councihnember O'Connor, seconded by
Councilmember Holbrook, to authorize the City Manager to
execute an amendment to with ARB, Inc,, The motion was
approved by the folloving vote:
AYES: Councilmembers O'Connor, Holbrook, Genser,
Feinstein, Mayor Pro Tem McKeown,
Mayor Bloom
NOES: None
ABSENT: Councilmember Katz
Motion by Councilmember O'Connor, seconded by
Councilmember Holbrook, to adopt Resolution No, 9980 (CCS),
reading by title only and waiving fiu2her reading thereof. The
motion was approved by the following vote:
AYES: Councilmembers O'Connor, Holbrook, Genser,
Feinstein, Mayor Pro Tem McKeown,
Mayor Bloom
NOES: None
ABSENT: Councilmember Katz
Motion by Councihnember O'Connor, seconded b~
September 14, 2004
Councilmember Holbrook, to approve the recommended
expenditure appropriations and budget changes. The motion was
approved by the following vote.
AYES: Councilmembers O'Connor, Holbrook, Genser_,
Feinstein, Mayor Pro Tem McKeown,
Mayor Bloom
NOES: None
ABSENT: Councilmember Katz
Motion by Authority Member O'Connor, seconded by Authority
Member Holbrook, to approve staff recommendation as related to
the Public Financing Authority. The motion was approved by the
following vote.
AYES: Authority Members O'Connor, Holbrook, Genser,
Feinstein, Chair Pro Tem McKeown, Chair Bloom
NOES: None
ABSENT: Authority Member Katz
AD3OII~2NMEie'T' ®;F On order of the Chair, the joint meeting was adjourned at 12:40
SPECIAI~ R~IEETING a.m.
ATTE
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Maria M. Stewart ichard Bloom
Authority Clerk Chair
September 14, 2004