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A-
Redevelopment Agency
Agenda
CITY COUNCIL CHAMBER
78-495 Calle Tampico
La Quinta, California 92253
Regular Meeting
November 5, 1996 3:00 P.M.
CALL TO ORDER
a. Roll Call Beginning Res. No. 96?
PUBLIC COMMENT
This is the time set aside for public comment on any matter not scheduled for a public hearing. Rease
complete a request to speak" form and limit your comments to three minutes.
Please watch the timing device on the podium.
CONFIRMATION OF AGENDA
APPROVAL OF MINUTES
a. Approval of Minutes of October 15, 1996
BUSINESS SESSION
1. CONSIDERATION OF ADOPTION OF RESOLUTION AMENDING THE AGENCY'S INVESTMENT
POLICY FOR FISCAL YEAR 1996197.
A) RESOLUTION ACTION.
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ing -> 107KCONSENT CALENDAR
Note: Consent Calendar items are considered to be routine in nature and will be approved by one
motion.
1. APPROVAL OF DEMAND REGISTER DATED NOVEMBER 5, 1996.
2. APPROVAL OF CONTRACT FOR BOND TRUSTEE SERVICES WITH FIRST TRUST OF
CALIFORNIA FOR THE 1992 AND 1995 REDEVELOPMENT AGENCY REFUNDING BOND
ISSUES.
DEPARTMENT REPORTS
CHAIR AND BOARD MEMBERS' ITEMS
PUBLIC HEARINGS None
CLOSED SESSION
NOTE: PERSONS IDENTIFIED AS NEGOTIATING PARTIES WHERE THE CITY IS CONSIDERING ACQUISITION OF
THEIR PROPERTY ARE NOT INVITED INTO THE CLOSED SESSION MEETING.
1. CONFERENCE WITH AGENCY'S REAL PROPERTY NEGOTIATOR PURSUANT TO GOVERNMENT
CODE SECTION 54956.8 CONCERNING POTENTIAL TERMS AND CONDITIONS OF
ACQUISITION AND OR DISPOSITION OF REAL PROPERTY LOCATED AT THE NORTHEAST
CORNER OF 48TH AVENUE AND ADAMS STREET. PROPERTY NEGOTIATOR: TOM BIENEK.
2. CONFERENCE WITH AGENCY'S PROPERTY NEGOTIATOR PURSUANT TO GOVERNMENT
CODE SECTION 54956.8 CONCERNING POTENTIAL TERMS AND CONDITIONS OF
ACQUISITION AND/OR DISPOSITION OF REAL PROPERTY LOCATED EAST OF AVENIDA
BERMUDAS, NORTH OF CALLE TAMPICO AND WEST OF WASHINGTON STREET. PROPERTY
OWNER NEGOTIATOR: BETTY WILLIAMS.
ADJOURNMENT
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I, Saundra L. Juhola, Secretary of the La Quinta Redevelopment Agency, do hereby declare that the
foregoing agenda for the Redevelopment Agency meeting of November 5, 1996 was posted on the
outside entry to the Council Chamber, 78-495 CalIe Tampico and on the bulletin board at the La
Quinta Chamber of Commerce and at Albertson's, 78-630 Highway 111, on Friday, November 1,
1996
November 1, 1996
ALJSecretarY
La Qu?nta Redevelopment Agency
PUBLIC NOTICE
The La Quinta City Council chamber is handicapped accessible. If special equipment is needed for
the hearing impaired, please call the City Clerk's Office at 777-7025, 24-hours in advance of the
meeting and accommodations will be made.
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AGENDA CATEGORY:
BUSINESS SESSION:
COUNCILIRDA MEETING DATE: November 5, 1996 CONSENT CALENDAR:
ITEM TIThE: STUDY SESSION:
PUBLIC HEARING:
Consideration of a Resolution of the
Redevelopment Agency Board
Amending the Investment Policy for
Fiscal Year 1 996/97
RECOMMENDATION:
Approve the resolution of the La Quinta Redevelopment Agency amending the
Investment Policy for Fiscal Year 1 996/97.
FISCAL IMPLICATIONS:
None
BACKGROUND AND OVERVIEW:
Refer to Business Session No.5 of City Agenda.
ohn M Falconer, Finance Director/Treasurer
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AGENDA CATEGORY:
BUSINESS SESSION
COUNCIL RDA MEETING DATE: NOVEMBER 5, 1996
CONSENTCALENDAR
ITEM TITLE:
STUDY SESSION
Demand Register Dated No? ember 5, 1996 PUBLIC HEARING
RECOMMENDATION: Appro\e Demand Register Dated November 5, 1996
BACKGROUND:
Prepaid Warrants:
26840 26842? 1,293.00
26843 26846? 1,023.00
26847 26850? 626.26
26851 26858? 28,866.04
26859 2?869t? 2,074.84
26870-26872? 1,331.70
26873 268751 4,652.59
PR I4668?I474It? 73,749.54
P/R Tax Transfers.1 21,669.29 CITY DEMANDS $530,432.95
Payable Warrauts:
26876 27027) 415,853.08 RDA DEMANDS 20,706.39
$551,139.34 $551,139.34
FISCAL. IMPLICAT[ONS:
Demand of CasI? RDA $20,706.39
Jol n M. Falconer, inance Director
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z
Sifi'
AGENDA CATEGORY:
CP?4OF BUSINESS SESSION:
COUNCILfltDA MEETING DATE:
November 5, 1996 CONSENT CALENDAR:
ITEM TIThE: STUDY SESSION:
PUBLIC REARING:
Approval of a Contract for Bond Trustee
Services for First Trust of California for the
1 992 and 1 995 Redevelopment Agency
Refunding Bond Issues
RECOMMENDATION:
Approve the Contract for Bond Trustee Services for First Trust of California for the
1 992 and 1 995 Redevelopment Agency Refunding Bond Issues.
FISCAL IMPLICATIONS:
Wells Fargo Bank is the Bond Trustee for the 1 992 and 1 995 Redevelopment Agency
Bond Issue. The annual savings of administration fees by transferring the 1 992
Redevelopment Agency Refunding Bond Issue to First Trust of California is $1,700.
The annual savings of administration fees by transferring the 1 995 Redevelopment
Agency Refunding Bond Issue to First Trust of California is $2,500.
BACKGROUND AND OVERVIEW:
The City and Redevelopment Agency have two bond trustees; First Trust of California
and Wells Fargo Bank.
Staff has completed an analysis and comparison of the Trustee fees between First
Trust of California and Wells Fargo Bank. In addition to the $4,200 savings identified
in the fiscal implications section, First Trust of California has historically provided the
City with outstanding customer service.
In addition, Staff's administration of the Bond issues will be enhanced as we will be
dealing with only one Trustee instead of two. Attachment No.1 contains a contract
with First Trust of California The Investment Advisory Board lAB) unanimously
approved this item at their October 9, 1 996 meeting.
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