HomeMy WebLinkAbout2006-11-21; City Council; MinutesMINUTES
MEETING OF : CARLSBAD CITY COUNCIL AND
PUBLIC FINANCING AUTHORITY
(Joint Special Meeting)
DATE OF MEETING: November 21, 2006
TIME OF MEETING: 6:00 p.m.
PLACE OF MEETING: City Council Chambers
CALL TO ORDER: Mayor/Chairman Lewis called the Meeting to order at 7:44 p.m.
Present: Lewis, Hall, Kulchin, Packard and Sigafoose.
Absent: None.
PUBLIC HEARING:
10. AB #18.816 - GOLF COURSE FINANCING DOCUMENTS AND APPROVAL OF
AGREEMENT.
Finance Director Lisa Irvine and Senior Accountant Helga Stover provided the staff
report and reviewed a PowerPoint presentation (on file in the Office of the City Clerk).
Ms. Irvine gave a brief background on the formation of the Carlsbad Public Financing
Authority and the proposed Bond Purchase Agreement.
Ms. Stover reviewed the details of the Site Lease Agreement.
Mayor/Chairman Lewis opened the duly noticed Public Hearing at 7:53 p.m. and asked
if anyone would like to speak.
Seeing no one wishing to speak, Mayor/Chairman Lewis closed the Public Hearing at 7:54 p.m.
Council/Board Member Sigafoose stated that in keeping with her previous votes
regarding the golf course she would be voting no on this item.
ACTION: On a motion by Mayor Pro Tern/Vice Chairman Hall, the
Council/Board adopted City Council RESOLUTION NO. 2006-344.
approving the Lease of the Carlsbad Municipal Golf Course with
the Carlsbad Public Financing Authority, and authorizing execution
of related Site Leases, Lease Agreement and Official Statement;
and,
Adopted City Council RESOLUTION NO. 2006-345. approving an
Advance Repayment Agreement between the City and the
Carlsbad Public Financing Authority; and,
Adopted Public Financing Authority RESOLUTION NO. 25.
authorizing the issuance and sale of not to exceed $21,000,000
principal amount of revenue bonds, approving related Indenture of
Trust, Site Leases, Lease Agreement, Assignment Agreement,
Official Statement and Bond Purchase Agreement, and authorizing
related documents and official actions; and,
November 21, 2006 JOINT SPECIAL MEETING OF CARLSBAD CITY COUNCIL Page 2
AND CARLSBAD PUBLIC FINANCING AUTHORITY
Adopted Public Financing Authority RESOLUTION NO. 26.
approving an Advance Repayment Agreement between the City
Council of the City of Carlsbad and the Carlsbad Public Financing
Authority.
AYES: Lewis, Hall, Kulchin, and Packard
NOES: Sigafoose
ADJOURNMENT:
By proper motion, the Joint Special Meeting of November 21 , 2006, was adjourned at 7:55 p.m.
LORRAINE M. WOOD, CMC
City Clerk/Secretary
Sheila R. Cobian
Deputy City Clerk