06-04-1986 - Regular Meeting - Minutes•
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M I N U T E S
ADJOURNED REGULAR MEETING
WEST COVINA CITY COUNCIL & REDEVELOPMENT AGENCY
AND A SPECIAL MEETING OF THE
CIVIC CENTER AUTHORITY BOARD
June'4,.1986
The meeting was called to order at 5:05 PM by Mayor Shearer in the Management
Resource Center, Room 315, City Hall, 1444 W. Garvey Avenue, West Covina,
California.
CALL TO ORDER OF THE CITY COUNCIL
Present: Mayor Shearer, Mayor Pro Tem Chappell, Councilmembers
Manners, Bacon
Absent: Councilmember Tennant
CALL TO ORDER OF THE CIVIC CENTER AUTHORITY
Present: Chairman Nordstrom, Secretary Adams, Members Mordoff,
Tambe
Absent: Member Fertal
CALL TO ORDER OF THE REDEVELOPMENT AGENCY
Present: Chairman Shearer, Vice Chairman Chappell, Members Manners,
Bacon
Absent: Member Tennant
Others Present at Meeting: Fast, Eliot, Fowler, Thomas, Wylie, Berry, Maas
REFINANCING OF CERTIFICATES OF.PARTICIPATION, CIVIC CENTER COMPLEX
Assistant City Manaker Leonard Eliot introduced
Terry Maas of Security Pacific Capital Markets Group
to present an overview of the process and benefits to
refinancing the Certificates'of Participation regarding
Presentation the Civic Center complex project. Mr. Maas noted that
if the bond ratings remain the same, the savings in annual
lease payments would probably total $1,700,000 over the
life of the bond issue on a present value basis.
Action of Civic Center.Authority:
Bond Counsel Agreement Motion by Tambe, seconded by Mordoff, and unanimously
• carried to approve the agreement with Jones, Hall, Hill
and White as Bond.Counsel.
Action of City -Council:
• Motion by Bacon, seconded by Chappell, and unani-
mously carried to approve the agreement with Jones, Hall,
Hill and White as Bond Counsel.
Action of Civic Center Authority:
Resolution 42 - RESOLUTION NO. 42 - A RESOLUTION OF THE LOS ANGELES
approving refinancing COUNTY WEST COVINA CIVIC CENTER AUTHORITY APPROVING
INSTITUTION OF PROCEEDINGS TO REFINANCE 1984 CERTIFICATES
OF PARTICIPATION
Motion by Tambe, seconded by Adams, and unanimously
carried to waive further reading of'.the resolution and
to adopt.
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MINUTES June 4, 1986
Page Two
• Action of the City Council:
RESOLUTION NO..7193 - A RESOLUTION OF THE CITY
COUNCIL OF THE CITY OF WEST COVINA, CALIFORNIA, APPROVING
Resolution 7193 INSTITUTION OF PROCEEDINGS TO REFINANCE 1984 CERTIFICATES
approving refinancing OF PARTICIPATION, AUTHORIZING AGREEMENT FOR BOND COUNSEL
• SERVICES AND DESIGNATING UNDERWRITERS IN CONNECTION
THEREWITH
Motion by Chappell, seconded by Manners, and unani-
mously carried to waive further reading of the resolution
and to adopt.
ADJOURNMENT OF CITY COUNCIL Motion by Chappell, seconded by Shearer, and unani-
mously carried to adjourn the City Council meeting at
5:22 PM to 8:00 AM Saturday, June 7, 1986, at Kellogg
West, Pomona.
ADJOURNMENT OF CIVIC CENTER AUTHORITY
Motion by Mordoff, seconded by Adams, and unanimousl}
carried to adjourn the Civic Center -Authority Board at
5:22 PM.
REDEVELOPMENT AGENCY MEETING CONTINUES:
APPROVAL OF MINUTES
Motion by Bacon, seconded by Chappell, and unani-
Minutes of 5/27/86
mously carried to. approve the minutes of the regular
meeting held May 27, 1986.
APPROVAL OF CONCEPT OF REFUNDING OUTSTANDING 1982 .:
TAX ALLOCATION BONDS
Staff report was reviewed. Bond counsel representatives
Refunding 1982.tax
clarified the concept and answered questions.
allocation bonds
Motion by Chappell, seconded by Bacon, and unani-
mously carried to approve the concept of refunding
outstanding 1982 tax allocation bonds and authorize
the Chairman and Secretary to execute the associated
documents.
CERTIFICATES OF PARTICIPATION -
QUEEN OF THE VALLEY HOSPITAL
Staff report was reviewed and further comments were
offered by Mr. Eliot.
Resolution 340 -
RESOLUTION NO. 340 - A RESOLUTION APPROVING THE
• 1st amendment to
FORM AND AUTHORIZING AND DIRECTING EXECUTION OF A.FIRST
lease agreement
AMENDMENT TO LEASE AGREEMENT BETWEEN QUEEN OF THE VALLEY
HOSPITAL AND THE AGENCY AND OF A FIRST AMENDMENT TO
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SUBLEASE AGREEMENT BETWEEN QUEEN OF THE VALLEY HOSPITAL
AND THE AGENCY
Motion by Chappell, seconded by Manners, and unani-
mously carried to waive further reading of the resolution
and to adopt.
OTHER MATTERS
Mr. Eliot discussed the necessity of proceeding
with eminent domain proceedings regarding the property
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MINUTES June 4, 1986
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located at the northwest corner of Garvey Avenue North
and Barranca Avenue. It was duly noted that a Waiver
of Notice of Hearing on the adoption of the Condemnation
Resolution, the right to appear at'.the hearing, the right
to an Offer of Purchase the property provided in Govern
ment Code Section 7260, et seq., had been filed with the
Agency on June 2, 1986, by Anthony C. Duffy as attorney
for Thompson A. Elliott and Zillah W. Elliott as trustees.
Resolution 341 - RESOLUTION NO. 341 - 4 RESOLUTION OF THE REDEVELOP -
entering eminent domain MENT AGENCY OF THE CITY OF WEST COVINA, CALIFORNIA,
proceedings (Elliott) FINDING AND DETERMINING THE PUBLIC INTEREST AND NECESSITY
FOR ACQUIRING AND ATiTHORIZING THE CONDEMNATION OF ALL
INTEREST IN CERTAIN REAL PROPERTY WITHIN THE EASTLAND
REDEVELOPMENT PROJECT AREA OTHER THAN LEASEHOLD
INTERESTS (Elliott)
Motion by Chappell, seconded by Bacon to waive
further reading of the resolution and to adopt. Motion
carried by roll call vote:
AYES: Bacon, Manners, Chappell, Shearer
NOES: None
ABSENT: Tennant
ADJOURNMENT OF REDEVELOPMENT AGENCY
ATTEST:
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City Clerk
Motion by Manners, seconded by Chappell, and unani-
mously carried to adjourn the meeting at 5:40 PM.
Mayor
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