2009 06 16 FAv
w
OF
FINANCING AUTHORITY
AGENDA
CITY COUNCIL CHAMBERS
78-495 Calle Tampico
La Quinta, California 92253
Regular Meeting
TUESDAY, JUNE 16, 2009 — 4:00 P.M.
Beginning Resolution No. FA 2009-001
CALL TO ORDER
Roll Call:
Board Members: Evans, Franklin, Henderson, Sniff, and Chairman Adolph
PUBLIC COMMENT
At this time members of the public may address the Financing Authority on any matter not
listed on the agenda. Please complete a "request to speak" form and limit your comments
to three minutes.
CONFIRMATION OF AGENDA
APPROVAL OF MINUTES
1. APPROVAL OF MINUTES OF MAY 19, 2009.
2. APPROVAL OF SPECIAL MEETING MINUTES OF JUNE 9, 2009.
001
Financing Authority Agenda 1 June 16, 2009
CONSENT CALENDAR
NOTE: Consent Calendar items are considered to be routine in nature and will be approved
by one motion.
1. RECEIVE AND FILE TREASURER'S REPORT DATED APRIL 30, 2009.
2. RECEIVE AND FILE REVENUE & EXPENDITURES REPORT DATED APRIL 30,
2009.
3. ADOPTION OF A RESOLUTION ADOPTING THE INVESTMENT POLICY OF
THE CITY OF LA QUINTA FOR FISCAL YEAR 2009/2010.
BUSINESS SESSION — NONE
CHAIR AND BOARD MEMBERS' ITEMS — NONE
PUBLIC HEARINGS — NONE
ADJOURNMENT
The next regular meeting of the Financing Authority will be held on July 21, 2009,
at 4:00 p.m. in the City Council Chambers, 78-495 Calle Tampico, La Quinta, CA
92253.
DECLARATION OF POSTING
I, Veronica Montecino, City Clerk of the City of La Quinta, do hereby declare that
the foregoing agenda for the La Quinta Financing Authority meeting of June 16,
2009, was posted on the outside entry to the Council Chamber at 78-495 Calle
Tampico and on the bulletin boards at 51-321 Avenida Bermudas and 78-630
Highway 111, on June 12, 2009.
i
TED: une 12, 2009
RONICA J NTECINO, City Clerk
City of La Quinta, California
Public Notice
Any writings or documents provided to a majority of the Financing Authority regarding any item on
this agenda will be made available for public inspection at the City Clerk counter at City Hall located
at 78-495 Calle Tampico, La Quints, California, 92253, during normal business hours.
'bd. 002
Financing Authority Agenda 2 June 16, 2009
a
04 maw
cFM OF'CKF'�
AGENDA CATEGORY:
COUNCIL/RDA MEETING DATE: .tune 16, 2009 BUSINESS SESSION: _
ITEM TITLE: Receive and File Transmittal of CONSENT CALENDAR:
Treasurer's Report as of April 30, 2009
STUDY SESSION:
PUBLIC HEARING:
RECOMMENDATION:
It is recommended the La Quinta Financing Authority:
Receive and file.
PLEASE SEE RELATED BUSINESS SESSION ITEM ON CITY COUNCIL AGENDA
,... 003
`(F� 4 4-v4w&rw
COUNCIL/RDA MEETING DATE: June 16, 2009
ITEM TITLE: Receive and File Transmittal of Revenue
and Expenditure Report for April 30, 2009
RECOMMENDATION:
Receive and File.
BACKGROUND AND OVERVIEW:
AGENDA CATEGORY:
BUSINESS SESSION:
CONSENT CALENDAR:
CSL-
STUDY SESSION:
PUBLIC HEARING:
Receive and File Transmittal of the Statement of Revenue and Expenditures for
April 30, 2009 La Quinta Financing Authority.
Respectfully submitted,
N4
John M. Falconer, Finance Director
Approved for Submission by:
�i' VAC�PLC
Thomas P. Genovese, Executive Director
Attachment: 1. Revenue and Expenditures Report, April 30, 2009
m I I PS i IIY.L.m . .
LA OUINTA FINANCING AUTHORITY 07/01/2008 - 04/3012009
REVENUE DETAIL REMAINING %
BUDGET RECEIVED BUDGET RECEIVED
DEBT SERVICE REVENUE:
Contractual Services Fees
15,000.00
10,041.25
4,958,75
66.940%
Non Allocated Interest
0.00
0.00
0.00
0.000%
Rental income
676,450.00
676,450.00
0.00
100.000%
Transfer In
5,919,994.00
5,919 993.76
0.24
100.000%
TOTAL DEBT SERVICE
6,611,444.00
6,606,485.01
4,958.99
99.920%
CAPITAL IMPROVEMENT REVENUE:
Pooled Cash Allocated Interest
0.00
0.00
0.00
0.000%
Non Allocated Interest
0.00
0.00
0.00
0.000%
TOTAL CIP REVENUE
0.00
0.00
0.00
0.000%
TOTAL FINANCING AUTHORITY 6,611,444.00 6,606,485.01 4.958.99 99.920%
ew.. 005
2
0710112MB-04M0=09
REMAINING
LA OUINTA FINANCING AUTHORITY
BUDGET
EXPENDITURES
ENCUMBERED
BUDGET
EXPENDITURE SUMMARY
DEBT SERVICE EXPENDITURES
15,8W00
10,241,25
0.00
5.558,75
SERVICES
380,OW.00
380,".00
000
0.00
BOND PRINCIPAL -1898
10.00
1,815,0W.W
0.00
BOND PRINCIPAL-2004
,815,OW.W
298,450.W
000
024
BOND INTEREST -1998
4,304,994W
304,093.W
4,304,993.I0
D0.W
O.W
0.24
BOND INTEREST - 2004
O.W
O.W
O.W
O.W
TRANSFER OUT
TOTAL DEBT SERVICE
CAPITAL IMPROVEMENT EXPENDITURES
O.W
OW
0.00
.W
BOND ISSUANCE COSTS
OW
0.00
0.00
0.W
TRANSFER OUT
TOTAL CAPITAL IMPROVEMENT
TOTAL FINANCING AUTHORITY
.4M.. 1 006
3
cewivl oG laQui«rw
COUNCIL/RDA MEETING DATE: June 16, 2009
ITEM TITLE: Approval of a Resolution Adopting the
Investment Policy of the Financing Authority
for Fiscal Year 2009/2010
RECOMMENDATION:
AGENDA CATEGORY:
BUSINESS SESSION: _
CONSENT CALENDAR:
STUDY SESSION:
PUBLIC HEARING:
Adopt a Resolution of the Financing Authority approving the Investment Policy of
the City of La Quinta for Fiscal Year 2009/2010.
SEE CITY COUNCIL STAFF REPORT
If"," 007
Resolution No. 2009-
Investment Policy
Adopted: June 16, 2009
Page 7 of 8
RESOLUTION NO. FA 2008-
A RESOLUTION OF THE LA QUINTA FINANCING
AUTHORITY OF THE CITY OF LA QUINTA APPROVING
AND ADOPTING THE AMENDED INVESTMENT POLICY
FOR FISCAL YEAR 2009/2010
WHEREAS, the general purpose of the Investment Policy is to provide the rules
and standards users must follow in investing funds of the City of La Quinta; and
WHEREAS, the primary objectives, in order of priority, of the City of La Quinta's
investment activity shall be:
Safety of principal is the foremost objective of the investment program.
Investments of the City of La Quinta shall be undertaken in a manner that seeks
to ensure the preservation of capital in the overall portfolio.
The investment portfolio shall remain sufficiently li uid to meet all operating
requirements that may be reasonably anticipated.
The investment portfolio shall be designed with the objective of attaining a
market rate of return or yield throughout budgetary and economic cycles, taking
into account the investment risk constraints and liquidity needs.
WHEREAS, authority to manage the City of La Quinta's investment portfolio is
derived from the City Ordinance. Management responsibility for the investment
program is delegated to the City Treasurer, who shall establish and implement written
procedures for the operation of the City's investment program consistent with the
Investment Policy for Fiscal Year 2009/2010; and
WHEREAS, the Investment Policy will be adopted before the end of June of
each year and amended as considered necessary; and
NOW, THEREFORE, BE IT RESOLVED by the Financing Authority of the City of
La Quinta to adopt the Fiscal Year Investment Policy (Exhibit A).
.,,. 008
Resolution No. 2009-
Investment Policy
Adopted: June 16, 2009
Page of -
PASSED, APPROVED and ADOPTED at a regular meeting of the La Quinta
Financing Authority, held on this day of 2009 by
the following vote, to wit:
AYES:
NOES:
ABSTAIN:
ABSENT:
ATTEST:
VERONICA J. MONTECINO, CMC, Secretary
La Quinta Financing Authority
(SEAL)
APPROVED AS TO FORM:
M. KATHERINE JENSON, Authority Counsel
La Quinta Financing Authority
DON ADOLPH, Chairman
La Quinta Financing Authority
A94.^ 009