HomeMy WebLinkAbout1969-10-29; Parking Authority; Minutes. ---~-:
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;;,,· Minutes of:. c)i.RLSBAD PA~KI ~i ·AUTHO" ... .'Y . October 29, 1969 • ·~at~ of Meeting~·
Ti~e of Meeting:
Place of Me~tt~g:
5:30 P.M ..
Countil Chambers
Acting Chairman Sriedeker calJed the meeting tp
ordei at 5:45 ~.M. •
Members Present:
Members Absent.: •
Directors·Sriedeker~ Ca~non,
Killen:and Sugg.
Di rector Daugherty ..• •
Als·o present were Urban Sch.reiner, ·representing
the law firm of O'Melvehy & Myeys and treasurer
Frank Rice.
A report was made by the Auditor, of the· Parking
.. Autho·rity as to --the disbursement of the· funds
received from the sa 1 e. of the bonds as follows:"
·.
Amount
. $1,263,619~00
$ 11,500.00
$ 7,758.32
$ 61,736.69
$ 1,5-00.00
Payee
Plaza Camino Rea] -
Ba·rt le Wells Asso''ci ates
O'Melveny & Myers
.Parktng Authority of the
City of Car.l sbad
·Parking Authbrity of the
City of Carlsbad
The rem.aining balance of $188,'885.9.9 was placed
in a trust account with Security Pacific National
Bahk in Los Angele~ for-bpnd redemption.
The Treasurer opened t~o-accounts at the Security
Pacific National Bank· in Carlsbad. $1,500.00
-was •deposited in the "Working Capital .Fund", and
·$6l,736.69·placed in the ,11 Acquisition & Construc-
· tion Fund".
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~Y proper motion ratification was given for the·
above-list~d disbursemerits. ,
Authorization of Signatur~s for.signing·.checks~
Authorization was giVen for any member of the
Parking Authority Board to sign all checks in
addition to the Treasurer's-signature.
Authorization for· ~-ment of· bills .. Bills ih the
amount of 6,590.75.were presented foi review, .and
by proper.motion authorizatiQn was given for the
-payment of·the bills.
Mr~ Schre~ner addressed the Board and. stated
originally when the tr~niaction first started·
an escrow was o~ened with Titli Insu~ance and
Trust. Company in the Los Angele's. office~ howev·er,
later the transaction was·car:-ried out through the
. San Diego office. It-is necessary to authorize_
the cl o s i n g of the es.crow i n the: Los Ange ·1 es
office. The following resolution was presented
for the Board's considefatioh: •
Resolution No. Jl. -RESOLUTION OF THE'. PARKING
AUTHORITY OF TME CITY OF CARLSBAD; CALIFORNIA,
AUTHORJZING THE CLOSING OF ESCROW, AUTHORIZING
THE PAYMENT OF FEES FOR LEGAL AND FINANClAL CON-
SULTING ~ERVICES AND RAtIFYING ALL ACTiONS HtRE-
TOFORE TAKEN, was ad.opted by tit 1 e only. and ..
. further reading waived.
Snedeker
Cannon
·Killen
Su.gg
Snedeker
c·annon
Ki 11 en Sugg _ ••
s.nedeker
Cannon
Killen
_Sugg·
Snedeker
Cannon
Killen Sugg·
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,~r. Schrei~er informed the Board a letter to the
. eicrow company wou1 d be pr·epared fqr the Chairman
• to sigri.
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Approval of Agreement.for Public.Parking.Lot· .. ·
Ope·r.ation. An ag.reement entitled.11 The.Plaza .
Camino Real Public Parking Lot.Operatin~ Agreement•
by and between the City of Carlsbad,".fhe.Parking·
Authority of the,City of Carlsbad, and Plaza
Camino Real w~s-present~d and discussed .. · It was.
n-o ted the term of the operating agreement ;is. for
a p~riod of .50 years. Follo~ing .disc.ussion the
following resol~tion was presented and ~onsidefad:
Resolution No .. 12., RESQtUTIDN OF THE PARKING.
AUTHORITY OF THE CITY OF CARLSBAD-, £ALlFORNIA, Snedeker.
. AP~ROVING AND AUT~ORIZING EXECUTJON OF AN AG~EE-Cannon
.ME~T ENTITLED 11 THE PLAZA CAMJNO.REAL.PUBLJ~ PARK-,. Killen
ING lOT OPERATING AGREEMENT 11 , was adopte.d by title Sug·g
only a~d furt~er reading ~aived. •
Investment of.s~rplus monies .. Discussion was
given to investing sutplus moriies in the variou~
funds, and Mr. Schreiner informed the.Board he
• would check into the matter and forward. a letter.
to the Boajd-as to the type oi· inveitment that
could be made by the Board ..
ADJOURNMENT:.
By proper m6tion the -~eeting was adj~urhed at
·6:50 p.M.
Respectfully submitted,
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