2012 06 19 FALam •�
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S
cry OF
FINANCING AUTHORITY
AGENDA
CITY COUNCIL CHAMBERS
78-495 Calle Tampico I La Quinta, California
REGULAR MEETING
TUESDAY, JUNE 19, 2012 AT 4:00 P.M.
Beginning Resolution No. FA 2012-001
CALL TO ORDER
Roll Call:
Board Members: Evans, Franklin, Henderson, Osborne 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 MEETING MINUTES OF JUNE 5, 2012
CONSENT CALENDAR
NOTE: Consent Calendar items are routine in nature and can be approved by one motion.
1. RECEIVE AND FILE TREASURER'S REPORT DATED APRIL 30, 2012
2. RECEIVE AND FILE REVENUE AND EXPENDITURE REPORT DATED APRIL
30, 2012
FINANCING AUTHORITY AGENDA 1 JUNE -19, 2012
3. ADOPTION OF A RESOLUTION ADOPTING THE INVESTMENT POLICY OF
THE CITY OF LA, QUINTA FOR FISCAL YEAR 2012/2013
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 17, 2012
at 4:00 p.m. in the City Council Chambers, 78-495 Calle Tampico, La Quinta, CA
92253.
DECLARATION OF POSTING
I, Susan Maysels, Interim City Clerk of the City of La Quinta, do hereby declare
that the foregoing agenda for the La Quinta Financing Authority meeting 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 15, 2012.
DATED: June 14, 2012
SUSAN MAYSELS, In rim 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 Quinta, California, 92253, during normal
business hours.
002
FINANCING AUTHORITY AGENDA 2 JUNE 19, 2012
Tar 4 4& a"
CITY/SA/HA" MEETING DATE: June 19, 2012 AGENDA CATEGORY:
ITEM TITLE: Receive and File Treasurer's Report dated BUSINESS SESSION:
April 30, 2012
CONSENT CALENDAR:
STUDY SESSION:
PUBLIC HEARING:
RECOMMENDATION:
It is recommended the La Quinta Financing Authority:
Receive and File.
PLEASE SEE RELATED CONSENT SESSION ITEM ON CITY COUNCL AGENDA
To
003
AGENDA CATEGORY:
CITY/SA/HA FA MEETING DATE: June 19, 2012 BUSINESS SESSION: _
ITEM TITLE: Receive and File Revenue and Expenditure CONSENT CALENDAR: 2-
Report dated April 30, 2012
STUDY SESSION:
PUBLIC HEARING:
RECOMMENDATION:
Receive and File.
FISCAL IMPLICATIONS:
None.
CHARTER CITY IMPLICATIONS:
None.
BACKGROUND AND OVERVIEW:
Receive and File the April 30, 2012 Statement of Revenue and Expenditures for the
La Quinta Financing Authority.
Respectfully submitted,
A4114t� -dt�rn
John M. Falconer, Finance Director
Attachment: 1. Revenue and
Approved for submission by:
Executive Director
Report, April 30, 2012
004
ATTACHMENT 1
LA OUINTA FINANCING AUTHORITY
07/01PL011-OV3012012
REVENUE DETAIL
ADJUSTED.
REMAINING
%
BUDGET
RECEIVED
BUDGET
RECEIVED
DEBT SERVICE REVENUE:
Contractual Services Fees
11.600.00
9.10729
2,492.71
78.510%
Non Allocatecl Interest
0.00
1,338.00
(1,338. D0)
0.000%
Rental Inane
673,521.00
673,521.25
(0.25)
100.000%
Transfer In
0.00
0.00
000
0000%
TOTAL DEBT SERVICE
685,121.00
683,966.54
1,154.46
99830%
CAPITAL IMPROVEMENT REVENUE:
Poolecl Cash Allocated Interest
0,00
0.00
0.00
0.000%
Non Allocated Interest
0.00
000
0.00
0000%
TOTAL CIP REVENUE
0.00
p.00
0.00
0.000%
TOTAL FINANCING AUTHORITY
585.121.00
683988.54
115446
99830%
11 005
2
LA OUINTA FINANCING AUTHORITY ADJUSTED Q3WN12 REMAINING
EXPENDITURE SUMMARY BUDGET EXPENDITURES ENCUMBERED BUDGET
DEBT SERVICE EXPENDITURES
SERVICES
11,600.00
7.527.29
0,00
4,022.71
BOND PRINCIPAL -19%
445,000.00
445.000.00
0.00
000
BOND PRINCIPAL -2000
0.00
0.00
0.00
0.00
BOND PRINCIPAL - 2011
0,00
- 0.00
000
0.00
BOND INTEREST -1995
228,521.00
226,521.25
O00
(0.25)
BOND INTEREST -2004
000
000
000
0.00
BOND INTEREST - 2011
0.00
000
0.00
0.00
TRANSFER OUT
2,695719.00
2,695,T19.00
0.00
0,00
TOTAL DEBT SERVICE
CAPITALIMPROVEMENT EXPENDITURES
BOND ISSUANCE COSTS 000 0.00 0.00 0,00
TRANSFER OUT 000 000 0.00 0.00
TOTAL CAPITAL IMPROVEMENT
TOTAL FINANCING AUTHORITY
`a 006
3
,5
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P w
cF`y OF
AGENDA CATEGORY:
CITYISA/HA FA MEETING DATE: June 19, 2012
BUSINESS SESSION:
ITEM TITLE: Adoption of a Resolution Adopting the 3Investment Policy of the City of La Quinta for Fiscal CONSENT CALENDAR: _
Year 2012/2013 STUDY SESSION:
PUBLIC HEARING:
RECOMMENDATION:
Adopt a Resolution of the City Council approving the Investment Policy for the La
Quinta Financing Authority for Fiscal Year 2012/2013.
PLEASE SEE CONSENT SESSION ITEM ON CITY COUNCIL AGENDA
007
RESOLUTION NO. FA 2012-
A RESOLUTION OF THE LA QUINTA FINANCING
AUTHORITY OF THE CITY OF LA QUINTA APPROVING
AND ADOPTING THE AMENDED INVESTMENT POLICY
FOR FISCAL YEAR 2012-2013
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 liquid 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; and
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 2012-2013; and
WHEREAS, the Investment Policy will be adopted before the end of June of
each year and amended as considered necessary.
NOW, THEREFORE, BE IT RESOLVED by the Financing Authority of the City of
La Quinta to adopt the Fiscal Year Investment Policy (Exhibit A).
11:
Resolution No. FA 2012-
Investment Policy
Adopted: June 19, 2012
Page 2 of 3
PASSED, APPROVED and ADOPTED at a regular meeting of the La Quinta
Financing Authority, held on this 19" day of June, 2012 by the following vote, to wit:
AYES:
NOES:
ABSTAIN:
ABSENT:
ATTEST:
SUSAN MAYSELS, Interim 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
...M 009
Resolution No. FA 2012-
Investment Policy
Adopted: June 19, 2012
Page 3 of 3
Exhibit A
(TO BE ATTACHED)
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