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Financing Authority
Agenda
CITY COUNCIL CHAMBER
78-495 Calle Tampico
La Quinta, California 92253
Tuesday March 18, 2003 - 3:00 p.m.
Beginning Res. No. FA 2003-001
CALL TO ORDER
ROLL CALL:
Board Members: Henderson, Osborne, Perkins, Sniff, Chairperson Adolph
PUBLIC COMMENT
At this time, members of the public may address the Finance Authority on any matter
not listed on the agenda or scheduled for public hearing. Please complete a "request
to speak" form and limit your comments to three (3) minutes.
For all Public Hearings on the agenda, a completed "request to speak" form must be
filed with the City Clerk prior to the Council beginning consideration of that item.
Please watch the timing device on the podium.
CONFIRMATION OF AGENDA
APPROVAL OF MINUTES
1. MINUTES OF THE MEETING OF FEBRUARY 18, 2002
CONSENT CALENDAR
1. TRANSMITTAL OF TREASURER'S REPORT DATED JANUARY 31, 2003.
2. TRANSMITTAL OF REVENUE AND EXPENDITURES REPORT DATED JANUARY 31, 2003.
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BUSINESS SESSION - None
DEPARTMENT REPORTS - None
CHAIR AND BOARD MEMBERS' ITEMS - None
PUBLIC HEARINGS - None
ADJOURNMENT - Adjourn to a Regular Meeting of the Financing Authority to be held on April 15,
2003 in the City Council Chambers, 78-495 Calle Tampico, CA 92253.
La Quinta Finance Authority Page 2. March 18, 2003
DECLARATION OF POSTING
I, June S. Greek, Authority Secretary of the City of La Quinta Financing Authority, do hereby declare
that the foregoing agenda for the La Quinta Financing Authority meeting of Tuesday, March 18, 2003,
was posted on the outside entry to the Council Chambers, 78-495 Calle Tampico and on the bulletin
board at the La Quinta Chamber of Commerce and at Stater Bros. 78-630 Highway 1 1 1, on Friday,
March 14, 2003.
DATED: March 14, 2003
JU REEK, CIVIC, A orit ecretary
City of La Quinta, California
PUBLIC NOTICES
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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La Quinta Finance Authority Page 3 March 18, 2003
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AGENDA CATEGORY:
BUSINESS SESSION:
COUNCIURDA MEETING DATE: March 18, 2003 CONSENT CALENDAR:
ITEM TITLE: STUDY SESSION•
Transmittal of Treasurer's Report
as of January 31, 2003
RECOMMENDATION:
It is recommended the La Quinta Financing Authority:
Receive and file.
PUBLIC HEARING:
PLEASE SEE RELATED BUSINESS SESSION ITEM ON CITY COUNCIL AGENDA
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COUNCIL/RDA MEETING DATE: March 18, 2003
Transmittal of Revenue and Expenditure
Report January 31, 2003
RECOMMENDATION:
Receive and File
BACKGROUND AND OVERVIEW:
AGENDA CATEGORY:
BUSINESS SESSION:
CONSENT CALENDAR:
STUDY SESSION:
PUBLIC HEARING:
Transmittal of the January 31, 2003 Statement of Revenue and Expenditures for the
La Quinta Financing Authority.
pectj�lly submitted,
hn M. Falconei, Finance Director
Approved for Submission by:
Thomas P. Genovese, Executive Director
Attachments: 1. Revenue and Expenditures Report, January 31, 2003
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ATTACHMENT 1
LA QUINTA FINANCING AUTHORITY
REVENUE DETAIL
REMAINING
%
BUDGET
RECEIVED
BUDGET
RECEIVED
DEBT SERVICE REVENUE:
Contractual Services Fees
9,175.00
0.00
9,175.00
0.000%
Non Allocated Interest
0.00
(69.65)
69.65
0.000%
Rental Income
678,955.00
485,492.56
193,462.44
71.510%
Transfer In
0.00
0.00
0.000%
TOTAL DEBT SERVICE
688,130.00
485,422.91
202,707.09
70.540%
CAPITAL IMPROVEMENT REVENUE:
Pooled Cash Allocated interest
0.00
(1.56)
1.56
0.000%
Non Allocated Interest
0.00
115.61
(115.61)
0.000%
TOTAL CIP REVENUE
0.00
114.05
(114.05)
0.000%
TOTAL FINANCING AUTHORITY 688,130.00 485,536.96 202,593.04 70.560%
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ng
LA QUINTA FINANCING AUTHORITY
07101/2002.1/31103
REMAINING
%
EXPENDITURE SUMMARY
BUDGET
EXPENDITURES
ENCUMBERED
BUDGET
EXPENDED
DEBT SERVICE EXPENDITURES
SERVICES
9,688.00
2,711.49
0.00
6,974.51
28.0%
BOND PRINCIPAL
285,000.00
285,000.00
0.00
0.00
100.0%
BOND INTEREST
394,435.00
200,495.00
0.00
193,940.00
50.8%
TRANSFER OUT
0.00
0.00
0.00
0.00
0.0%
TOTAL DEBT SERVICE
689,121.00
488,206.49
0.00
200,914.51
70.8%
CAPITAL IMPROVEMENT EXPENDITURES
TRANSFER OUT
(131,792.42)
0.00
0.00
(131,792.42)
0.0%
TOTAL CAPITAL IMPROVEMENT
(131,792.42)
0.00
0.00
(131,792.42)
0.0%
TOTAL FINANCING AUTHORITY
557,328.58
488,206.49
0.00
69,122.09
87.80%
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