1996 11 05 RDA Minutess LA QUINTA REDEVELOPMENT AGENCY
MINUTES
November 5, 1996
Regular meeting of the La Quinta Redevelopment Agency was called to order by
Chairman Sniff.
PRESENT: Board Members Adolph, Henderson, Perkins, Chairman Sniff
ABSENT: Board Member Holt
MOTION It was moved by Board Members Adolph/Henderson to excuse Board
Member Holt. Motion carried unanimously.
PUBLIC COMMENT None
CONFIRMATION OF AGENDA Confirmed
APPROVAL OF MINUTES
MOTION It was moved by Board Members Perkins/Henderson to approve Minutes
of October 1 5, 1996 as submitted. Motion carried unanimously.
BUSINESS SESSION
1. CONSIDERATION OF ADOPTION OF RESOLUTION AMENDING THE AGENCY'S
INVESTMENT POLICY FOR FISCAL YEAR 1996/97.
RESOLUTION NO. RA 96-OS
A RESOLUTION OF THE LA QUINTA REDEVELOPMENT AGENCY OF THE CITY
OF LA QUINTA, CALIFORNIA, APPROVING AND ADOPTING THE AMENDED
INVESTMENT POLICY FOR FISCAL YEAR 1996/97.
MOTION It was moved by Board Members Henderson/Perkins to adopt
Resolution No. RA 96-08 as amended maximum percentage for LAIF
investments reduced to 40%). Motion carried unanimously.
CONSENT CALENDAR
1. APPROVAL OF DEMAND REGISTER DATED NOVEMBER 5, 1996
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sRedevelopment Agency Minutes 2 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.
MOTION It was moved by Board Members Adolph/Henderson that the
Consent Calendar be approved as recommended. Motion carried unanimously.
DEPARTMENT REPORTS None
CHAIR AND BOARD MEMBERS' ITEMS None
PUBLIC HEARINGS None
Agency recessed to Closed Session.
CLOSED SESSION
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 Avenue
48 and Adams Street. Property Negotiator: Tom Bienek.
2. 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 east of Avenida Bermudas, north of
Calle Tampico, and west of Washington Street. Property OwneriNegotiator:
Betty Williams.
Agency Board reconvened with no decision being made which requires reporting
pursuant to Section 54957.1 of the Government Code Brown Act).
There being no further business the meeting was adjourned.
Respectfully submitted
SAUNDRA L JUHOLA Secretary
La Quinta Redevelopment Agency
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