Public Financing Authority - 03-17-1998 - Page 001• SPECIAL MEETING
OF THE
WEST COVINA PUBLIC FINANCING AUTHORITY
WEST COVINA, CALIFORNIA
• TUESDAY — 6:30 P.M. MARCH 17, 1998
AGENDA
Agenda material is available for review before the meeting at the City Clerk's Office, Room 317 at City
Hall, 1444 W. Garvey Avenue, West Covina. The City complies with the Americans with Disabilities
Act (ADA). If you will need special assistance at this meeting, the City will try to accommodate you in
every reasonable manner. Please call (626) 814-8433 (voice) or (626) 960-4222 (TTY) from 8:00
a.m. to 5:00 p.m. Monday through Friday for assistance. Please call at least 48 hours prior to the
meeting to inform us of your particular needs and to determine if accommodation is possible. For sign
language interpreter services or use of hearing impaired aids at Council meetings, four working days
may be required.
ROLL CALL: - Wong, Melendez, Herfert, Howard, Touhey
• APPROVAL OF NI NUTES: - Special Meeting of April 1, 1997
I. PUBLIC COMMENTS ON ITEMS ON THE AGENDA
H. HOUSING BONDS
The Agency has been preparing for the issuance of housing bonds, secured by its 20 percent
set -aside fund. The bond proceeds will be used to fund the rehabilitation and reuse of the
Executive Lodge Motel. The Agency is now under a state deadline to issue and close on the
bonds by April 28, 1998. All required bond documents are presented for City Council, Agency
and Public Financing Authority review.
It is recommended that the Public Financing Authority approve and adopt the following:
RESOLUTION NO.
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE WEST
• COVINA PUBLIC FINANCING AUTHORITY AUTHORIZING THE
PURCHASE AND SALE OF 1998 HOUSING SET -ASIDE TAX
ALLOCATION BONDS (EXECUTIVE LODGE PROJECT) SERIES A
AND TAXABLE SERIES B BY THE REDEVELOPMENT AGENCY OF
THE CITY OF WEST COVINA AND APPROVING OTHER RELATED
DOCUMENTS AND ACTIONS.
ACTION: Motion by 2'd by to waive further reading of the
resolution and to Adopt Disapprove
Hold Over
III. ADJOURNMENT
• ACTION: Motion by 2nd by
To ADJOURN the meeting at P.M.