1988 12 20 FAi^E FINANCING AUTHORITY
AGENDA
CITY COUNCIL CHAMBERS
78-105 Calle Estado
La Quinta, California 92253
Regular Meeting
December 20, 1988 7:30 P.M.
CALL TO ORDER
a. Roll Call
BUSINESS SESSION
1. Adoption of Resolution Confirming the Election of the Chair
and Vice-Chair of the Governing Board of the La Quinta
Financing Authority; Establishing the Time and Place of
Regular Meetings of-the Authority; Appointing the Secretary,
Treasurer and Controller, Respectively, of the Authority;
Adopting the Bylaws of the Authority; Adopting a Conflict of
Interest Code; and Retaining Counsel for the Authority.
a) Report of Consultant.
b) Resolution Action. *4- *
2. Adoption of Resolution Authorizing the Execution and Delivery
of Bond Purchase Contracts by and Among the La Quinta
Redevelopment Agency, La Quinta Financing Authority, and
Painewebber Incorporated.
a) Report of Consultant.
b) Resolution Action.
CONSENT CALENDAR
1. Approval of Minutes of December 6, 1988.
ADJOURNMENT
DECLARATION OF POSTING
I, Saundra L. Juhola, Secretary of the Finance Authority, do
hereby declare that the foregoing agenda for the Regular Meeting
of the Financing Authority of December 20, 1988 was posted on
the outside entry to the Council Chamber, 78-105 Calle Estado
and on the bulletin board at the La Quinta Post Office on
Friday, December 16, 1988.
Da d: December 16, 1986.
SAUNDRA L. JU LA, Secretary
BIB]
11-12-1998-U01
09:34:09AM-U01
BASIC-U01
FA-12-20-1988-U02
i^E BUSINESS SESSION ITEM NO.* I
LA QUINTA FINANCING AUTHORITY
RESOLUTION NO.
RESOLUTION CONFIRMING THE ELECTION OF THE
CHAIRMAN AND THE VICE CHAIRMAN OF THE
GOVERNING BOARD OF THE LA QUINTA FINANCING
AUTHORITY; ESTABLISHING THE TIME AND PLACE OF
REGULAR MEETINGS OF THE AUTHORITY; APPOINTING
THE SECRETARY, TREASURER AND CONTROLLER,
RESPECTIVELY, OF THE AUTHORITY; ADOPTING THE
BYLAWS OF THE AUTHORITY; ADOPTING A CONFLICT
OF INTEREST CODE; AND RETAINING COUNSEL FOR
THE AUTHORITY.
WHEREAS, the City of La Quinta the City") and the
La Quinta Redevelopment Agency the Agency") have heretofore
executed a Joint Exercise of Powers Agreement, dated as of
November 3, 1988 the Agreement"), by and between the City and
the Agency, which Agreement creates and establishes the
La Quinta Financing Authority the Authority");
NOW, THEREFORE, BE IT RESOLVED by the Governing Board
of the La Quinta Financing Authority, as follows:
Section 1: Pursuant to Section 4(D) of the Agreement,
the Governing Board of the Authority has elected the following
persons to initially serve as Chairman and Vice Chairman
respectively, of the Authority:
John J. Pena, Chairman
Dale Bohnenberger, Vice Chairman
The term of office of the Chairman and Vice Chairman
shall be from the date hereof through the date of the first
regular meeting of the Authority in the calendar year 1989 or
BIB]
11-12-1998-U01
09:34:09AM-U01
BASIC-U01
FA-12-20-1988-U02
i^E NOTEXTPAGE
BIB]
11-12-1998-U01
09:34:09AM-U01
BASIC-U01
FA-12-20-1988-U02
i^E NOTEXTPAGE
BIB]
11-12-1998-U01
09:34:09AM-U01
BASIC-U01
FA-12-20-1988-U02
i^E NOTEXTPAGE
BIB]
11-12-1998-U01
09:34:09AM-U01
BASIC-U01
FA-12-20-1988-U02
i^E business SESSION ITEM NO.1 *
LA QUINTA FI*ANCING AUTHORITY
RESOLUTION NO.
RESOLUTION AUTHORIZING THE EXECUTION AND
DELIVERY OF BOND PURCHASE CONTRACTS BY AND
AMONG THE LA QUINTA REDEVELOPMENT AGENCY, LA
QUINTA FINANCING AUTHORITY, AND PAINEWEBBER
INCORPORATED
WHEREAS, the City of La Quinta the City") and the
La Quinta Redevelopment Agency the Agency") have entered into
a Joint Exercise of Powers Agreement, dated as of November 3,
1988 the Agreement"), creating the La Quinta Financing
Authority the Authority");
WHEREAS, pursuant to Article 4 of Chapter 5 of
Division 7 of the Government Code of the State of California
the Act") and the Agreement, the Authority is authorized to
purchase bonds issued by the Agency for financing public
capital improvements, working capital, liability and other
insurance needs, or projects whenever there are significant
public benefits as determined by the Agency; and
WHEREAS, pursuant to the Act and the Agreement the
Authority is further authorized to sell bonds so purchased to
public or private purchasers by public or negotiated sale; and
WHEREAS, the Authority desires to purchase not to
exceed *8,000,000 aggregate principal amount of bonds of the
Agency designated La Quinta Redevelopment Agency, La Quinta
Redevelopment Project, Tax Allocation Bonds, Series 1988" the
Bonds") solely from the proceeds received from the Authority's
BIB]
11-12-1998-U01
09:34:09AM-U01
BASIC-U01
FA-12-20-1988-U02
i^E NOTEXTPAGE
BIB]
11-12-1998-U01
09:34:09AM-U01
BASIC-U01
FA-12-20-1988-U02
i^E NOTEXTPAGE
BIB]
11-12-1998-U01
09:34:09AM-U01
BASIC-U01
FA-12-20-1988-U02
i^E NOTEXTPAGE
BIB]
11-12-1998-U01
09:34:09AM-U01
BASIC-U01
FA-12-20-1988-U02
i^E NOTEXTPAGE
BIB]
11-12-1998-U01
09:34:09AM-U01
BASIC-U01
FA-12-20-1988-U02