SR 11-28-2023 5L
Public Financing Authority
Report
City Council Meeting: November 28, 2023
Agenda Item: 5.L
1 of 1
To: Public Financing Authority
From: Denise Anderson Warren, City Clerk, Records and Election Services
Department
Subject: Approval of minutes for Public Financing Authority meetings
Recommended Action
Staff recommends that the Public Financing Authority approve the minutes for March
23, 2021 and July 13, 2021 meetings.
Prepared By: Maria Dacanay, Administrative Analyst
Approved
Forwarded to Council
Attachments:
A. March 23, 2021 Public Financing Authority minutes
B. July 13, 2021 Public Financing Authority minutes
5.L
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March 23, 2023 1
(NOT APPROVED)
CITY OF SANTA MONICA
PUBLIC FINANCING AUTHORITY MEETING MINUTES
MARCH 23, 2021
A special meeting of the Public Financing Authority was called to order by Chair Himmelrich at
8:30 p.m., on Tuesday, March 23, 2021, via teleconference pursuant to the Governor’s Executive
Order N-29-20 at https://primetime.bluejeans.com/a2m/live-event/rvxhjxyp.
Roll Call: Present: Chair Sue Himmelrich
Chair Pro Tem Kristin McCowan
Agency Member Phil Brock
Agency Member Gleam Davis
Agency Member Oscar De La Torre
Agency Member Kevin McKeown
Agency Member Christine Parra
Also Present: Interim Executive Director Lane Dilg
Interim Agency Attorney George S. Cardona
Agency Secretary Denise Anderson-Warren
CONVENE On order of the Chair, the Public Financing Authority convened to a joint
meeting with the City Council at 8:30 p.m., with all members present.
BONDS ISSUANCE 8.C. Adoption of Resolutions Nos. 11328 (CCS) and 16 (PFA)
Authorizing Issuance of Lease Revenue Refunding Bonds (Parking
Structure 6 Project), Series 2021A and Series 2021B, was presented.
Recommended Action
Staff recommends that the City Council:
1. Adopt the attached Resolution Authorizing Issuance of Lease
Revenue Refunding Bonds (Parking Structure 6 Project), Series
2021A and Series 2021B (Attachment A), and approve the related
documents required for the Issuance of Lease Revenue Refunding
Bonds (Parking Structure 6 Project), Series 2021A and Series
2021B (Attachments D, E, F, G, H and I).
Staff recommends that the Public Financing Authority:
1. Adopt the attached Resolution Authorizing Issuance of Lease
Revenue Refunding Bonds (Parking Structure 6 Project), Series
2021A and Series 2021B (Attachment B), and approve the related
documents required for the Issuance of Lease Revenue Refunding
5.L.a
Packet Pg. 296 Attachment: March 23, 2021 Public Financing Authority minutes [Revision 1] (6144 : Public Financing Authority Minutes)
March 23, 2023 2
Bonds (Parking Structure 6 Project), Series 2021A and Series
2021B (Attachments C, D, E, F, G, H and I).
There was no public comment for this item.
Questions asked and answered of staff included, what collateral did we
provide for parking structure #6.
Motion by Councilmember McKeown, seconded by Councilmember
Davis, that the City Council adopt Resolution No. 11328 (CCS)
authorizing issuance of lease revenue refunding bonds. The motion was
approved by the following vote:
AYES: Councilmembers de la Torre, Brock, McKeown, Davis,
Parra, Mayor Pro Tem McCowan, Mayor Himmelrich
NOES: None
ABSENT: None
Motion by Authority Member McKeown, seconded by Authority
Member de la Torre, that the Public Financing Authority adopt
Resolution No. 16 (PFA) authorizing issuance of lease revenue refunding
bonds. The motion was approved by the following vote:
AYES: Authority Members Parra, Davis, McKeown, Brock, de la
Torre, Chair Pro Tem McCowan, Chair Himmelrich
NOES: None
ABSENT: None
MINUTES 8.D. Minutes for Public Financing Authority meeting, were
presented.
Recommended Action
Staff recommends that the Public Financing Authority approve the
minutes of the October 27, 2020 meeting.
Motion by Chair Pro Tem McCowan, seconded by Authority Member
McKeown, to approve the staff recommendation. The motion was
approved by the following vote:
AYES: Authority Members de la Torre, Brock, McKeown, Davis,
Parra, Chair Pro Tem McCowan, Chair Himmelrich
NOES: None
ABSENT: None
5.L.a
Packet Pg. 297 Attachment: March 23, 2021 Public Financing Authority minutes [Revision 1] (6144 : Public Financing Authority Minutes)
March 23, 2023 3
ADJOURNMENT: On order of the Chair, the Public Financing Authority meeting was
adjourned at 8:35 p.m.
ATTEST: APPROVED:
Denise Anderson-Warren Sue Himmelrich
Agency Secretary Chair
5.L.a
Packet Pg. 298 Attachment: March 23, 2021 Public Financing Authority minutes [Revision 1] (6144 : Public Financing Authority Minutes)
July 13, 2021 1
(NOT APPROVED)
CITY OF SANTA MONICA
PUBLIC FINANCING AUTHORITY MEETING MINUTES
JULY 13, 2021
A special meeting of the Public Financing Authority was called to order by Chair Himmelrich at
8:26 p.m., on Tuesday, July 13, 2021, at City Council Chambers, 1685 Main Street.
Roll Call: Present: Chair Sue Himmelrich
Chair Pro Tem Kristin McCowan
Agency Member Phil Brock
Agency Member Gleam Davis
Agency Member Oscar De La Torre
Agency Member Christine Parra
Absent: Agency Member Lana Negrete
Also Present: Interim Executive Director John Jalili
Interim Agency Attorney George S. Cardona
Agency Secretary Denise Anderson-Warren
CONVENE On order of the Chair, the Public Financing Authority convened to a
special joint meeting with the City Council at 8:26 p.m., with Authority
Member Negrete absent.
REPORT ON MEETING
COMPENSATION
Pursuant to State law, Agency Secretary Anderson-Warren announced
that members will receive no compensation for meeting as the Public
Financing Authority.
CITY YARDS
MODERNIZATION
PROJECT
9.B. Adoption of Resolution No. 11352 (CCS), entitled “A
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SANTA
MONICA AUTHORIZING THE EXECUTION AND DELIVERY BY
THE CITY OF A GROUND LEASE, A LEASE AGREEMENT, AN
INDENTURE, A BOND PURCHASE AGREEMENT AND A
CONTINUING DISCLOSURE CERTIFICATE IN CONNECTION
WITH THE ISSUANCE OF SANTA MONICA PUBLIC FINANCING
AUTHORITY LEASE REVENUE BONDS (CITY YARDS PROJECT),
SERIES 2021, APPROVING THE ISSUANCE OF SUCH BONDS IN
AN AGGREGATE PRINCIPAL AMOUNT OF NOT TO EXCEED
$70,000,000, AUTHORIZING THE DISTRIBUTION OF AN
OFFICIAL STATEMENT IN CONNECTION WITH THE OFFERING
AND SALE OF SUCH BONDS AND AUTHORIZING THE
5.L.b
Packet Pg. 299 Attachment: July 13, 2021 Public Financing Authority minutes [Revision 1] (6144 : Public Financing Authority Minutes)
July 13, 2021 2
EXECUTION OF NECESSARY DOCUMENTS AND
CERTIFICATES AND RELATED ACTIONS” and Resolution No. 17
(PFA), entitled, “A RESOLUTION OF THE BOARD OF DIRECTORS
OF THE SANTA MONICA PUBLIC FINANCING AUTHORITY
AUTHORIZING THE EXECUTION AND DELIVERY OF A
GROUND LEASE, A LEASE AGREEMENT, AN INDENTURE AND
A BOND PURCHASE AGREEMENT IN CONNECTION WITH THE
ISSUANCE OF SANTA MONICA PUBLIC FINANCING
AUTHORITY LEASE REVENUE BONDS (CITY YARDS PROJECT),
SERIES 2021, AUTHORIZING THE ISSUANCE OF SUCH BONDS
IN AN AGGREGATE PRINCIPAL AMOUNT OF NOT TO EXCEED
$70,000,000, AUTHORIZING THE DISTRIBUTION OF AN
OFFICIAL STATEMENT IN CONNECTION THEREWITH AND
AUTHORIZING THE EXECUTION OF NECESSARY DOCUMENTS
AND CERTIFICATES AND RELATED ACTIONS”, was presented.
Recommended Actions
Staff recommends that the City Council:
1. Hold a public hearing, receive public comment, adopt the attached
Resolution Authorizing Issuance of Lease Revenue Bonds (City
Yards Project) Series 2021 (Attachment A), and approve the
related documents required for the Issuance of Lease Revenue
Bonds (City Yards Project), Series 2021 (Attachments C, D, E, F,
G, and H).
Staff recommends that the Public Financing Authority:
1. Hold a public hearing, receive public comment, adopt the attached
Resolution Authorizing Issuance of Lease Revenue Bonds (City
Yards Project), Series 2021 (Attachment B), and approve the
related documents required for the Issuance of Lease Revenue
Bonds (City Yards Project), Series 2021 (Attachments C, D, E, F,
G, and H).
There was no public comment on this item.
Motion by Councilmember Brock, seconded by Mayor Pro Tem
McCowan, to adopt Resolution No. 11352 (CCS) and the staff
recommendation. The motion was approved by the following vote:
AYES: Councilmembers de la Torre, Brock, Davis, Parra Mayor Pro
Tem McCowan, Mayor Himmelrich
NOES: None
ABSENT: Councilmember Negrete
Motion by Authority Member Brock, seconded by Authority Member
Davis, to adopt Resolution No. 17 (PFA), and the staff recommendation.
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Packet Pg. 300 Attachment: July 13, 2021 Public Financing Authority minutes [Revision 1] (6144 : Public Financing Authority Minutes)
July 13, 2021 3
The motion was approved by the following vote:
AYES: Authority Members Parra, Davis, Brock, de la Torre, Chair
Pro Tem McCowan, Chair Himmelrich
NOES: None
ABSENT: Authority Member Negrete
MINUTES 9.C Approval of minutes for Public Financing Authority meeting,
was presented.
Recommended Action
Staff recommends that the Public Financing Authority approve the
minutes of the March 23, 2021 meeting.
Motion by Chair Pro Tem McCowan, seconded by Authority Member
Brock, to adopt the staff recommendation. The motion was approved by
the following vote:
AYES: Authority Members de la Torre, Brock, Davis, Parra, Chair
Pro Tem McCowan, Chair Himmelrich
NOES: None
ABSENT: Authority Member Negrete
ADJOURNMENT: On order of the Chair, the Public Financing Authority meeting was
adjourned at 8:33 p.m. with Authority Member Negrete absent.
ATTEST: APPROVED:
Denise Anderson-Warren Sue Himmelrich
Agency Secretary Chair
5.L.b
Packet Pg. 301 Attachment: July 13, 2021 Public Financing Authority minutes [Revision 1] (6144 : Public Financing Authority Minutes)