1991 11 19 FAd_ FINANCING AUTHORITY
AGENDA
CITY COUNCIL CHAMBERS
78-105 CALLE ESTADO
LA QUINTA, CALIFORNIA 92253
REGULAR MEETING
NOVEMBER 19, 1991 3:00 p.M.
CALL TO ORDER Resolution No. FA 91-2
a. Roll Call
BUSINESS SESSION
1. Adoption oLResolution Authorizing the Sale, Execution and
Delivery of $___________________ principal Amount of its 1991
Bonds City Hall Project) and Approving Certain Documents and
Authorizing Certain Actions in Connection Therewith.
a) Resolution Action.
2. Approval of Agreement with Stradling, Yocca, Carison & Rauth
for Bond Counsel Services for Civic Center Bonds.
a) Minute Order Action.
CONSENT CALENDAR
1. Approval of Minutes of November 5, 1991.
ADJOURNMENT
DECLARATION OF POSTING
I, Saundra L. Juhola, Secretary of Financing Authority of the City
of La Quinta, do hereby declare that the foregoing agenda for the
regular meeting of the Financing Authority of November 19, 1991,
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, November 15, 1991.
AUNDRA L. JU L Secretary
La Quinta Fin cing Authority
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RESOLUTION NO.
RESOLUTION OF THE BOARD OF DIRECTORS OF THE LA
QUINTA FINANCING AUTHORITY AUTHORIZING THE
SALE, EXECUTION AND DELIVERY OF $_______
PRINCIPAL AMOUNT OF ITS 1991 BONDS CITY HALL
PROJECT) AND APPROVING CERTAIN DOCUMENTS AND
AUTHORIZING CERTAN ACTIONS IN CONNECTION
THEREWITH
WHEREAS, the City of La Quinta, a municipal corporation
organized and existing under the laws of the State of
California the City"), desires to have cons?ructed a City
Hall appurtenant and appurtenant works the project); and
WHEREAS? La Quinta Financing Authority, a joint exercise of
pow??s authority created pursuant to Chapter 5, Division 7 of
Title 1 commencing with Section 6500) of the Government Code)
of the State of California the Authority"), has the authority
to assist in the financing of the Project on behalf of the
City; and
WHEREAS, the City and the Authority desire to enter into
i) a lease agreement titled Lease" dated as of November 1,
1991, by and between the City and the Authority relating to
$_________ La Quinta Financing Authority, 1991 Bonds City Hall
Project) the Lease") whereby the City will lease to the
Authority the Project site and ii) a sublease and option to
purchase titled Sublease and Option to Purchase" dated as of
November 1, 1991, by and between the City and the Authority
relating to $_________ La Quinta Financing Authority, 1991
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STRADLING, YOCCA, CAELSON & RAUTH
A PRO?ESSIONAL CORPORATION
rpm I. STRADUNG JAMES DEXTER CLARK ATTORNEYS AT LAW JOHN E. SRECKENRIDGE
NICK I. VOCCA STEPHEN 4. LACOUNT RENA C. STONE
Or COUNSE?
C. CRAIG CARLSON HARLEY C. SJELLANO 880 NEwPORT CENTER DRIVE, SUITE 1800
WILLIAM A. RAUTH III STEPHEN 7. rAKEMAN POST OFrICE Box 7880
K. C. SCHAAr RO?ERT A. WILSON
RICHARD C. ODODMAN USA M. KITSUTA NEWPORT SEACH, CALIrORNIA e2860-8441
JOHN J. MURPHY CHERYL A 00*
THOMAS P. CLARK, JR. NICHOLAS j. YOCCA TELE?H0NE 7IA( 72S?4OOO
SEN A. rRYDMAN JULIE M. PORTER
DAVID R. MCEWIN MARK?. PALIN TELEPHONE 714) 840-7035 WRITEWS DIRECT DIAL:
PAUL GALE MICHAEL K. rLYNN
RUDOLPH C. SHEPARD ROetAT C. rUNSTEN tAx NUNSER
ROSERT 4. KANE ALETA LOUISE WYANT
M. C. TALSOT RONALD A VAN SLARCOM 114) 125-4100
SRUCE C. STUART STEPHEN N. MCNAMARA
K. KURT VEAGER GARY A. PEMSER7ON
ROSERT 4. WHALEN JOHN N. ANTOCI
POSER? C. RICH CAROL L. LEW
THOMAS A. PISTONE DENISE K. NARSAUGH
RANDALL 4. SHERMAN SARRARA ZEID LEISOLD
*nUCE W. rEUCHTER JON E. GOET!
MARK 4. HUESSCH ALAN 4. KESSEL
KAREN A. ELLIS GARY P. DOWNS
ELIZASETH C. GREEN JOHN D. IRELAND
*U.UCE 0. MAY MICHAEL 4. PENDERGAST November 4, 1991
DONALD 4. HAMMAN GAVtD H. MANN
JOHN 4. SWIGART, JR. GALE I. SCHLESINGER
MICHAEL A ZASLOCKI CHRISTOPHER N. MORDPOU LOS
NEILA A. ERMSTEIN DANA M. KEZMON
CELESTE STAHL SRADY DARRYL S. GISSON
CHRISTOPHER 4. KILPATRICK JOHN 0. MCCLENDON
JOEL H. GUT" TODD R. THAKAR
JULIE MCCOY AKINS CNARD T. NEEDNAM
DAWN C. HONEYWELL ROSERT C. WALLACE
OWEN S. LUSOW DAMON C. MOSLER
LAWRENCE S. COHN GERARD OSKAM
WARREN S. DIVEN JOHN F. CANNON
Board of Directors
La Quinta Financing Authority
78-105 Calle Estado
La Quinta, California 92253
Re: proposal for Bond Counsel Services for City Hall
Bonds
Ladies and Gentlemen:
The firm of Stradling, Yocca, Carison & Rauth is pleased to
submit this proposal to represent the La Quinta Financing
Authority the *Authority") in connection with the
authorization, issuance and sale of approximately $8,000,000 of
bonds to be issued pursuant to the Marks-ROOS Act for the
financing of public improvements to be leased to the City of La
Quinta.
Legal services to be performed in connection with a bond
issue include the following:
a. Meeting with your staff and consultants in developing
the special tax formula;
b. Drafting all documents for the sale of the bonds;
C. Reviewing the bond purchase contract participating in
the related negotiations;
d. Attending informational meetings and other onferences
scheduled by the Authority, the City, the financial
advisors or the underwriter, including a rating agency
trip to New York;
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LA QUINTA FINANCING AUTHORITY
MINUTES
NOVEMBER 5, 1991
Regular meeting of the La Quinta Financing Authority was called to
order by Chairman Pena.
PRESENT: Mr. Bohnenberger, Mrs. Franklin, Mr. Rushworth, Mr.
Sniff, Chairman Pena
ABSENT: None
BUSINESS SESSION
1. ADOPTION OF RESOLUTION AUTHORIZING THE SALE, EXECUTION AND
DELIVERY OF NOT MORE THAN $9,000,000 PRINCIPAL AMOUNT OF BONDS
AND APPROVING CERTAIN DOCUMENTS IN CONNECTION THEREWITH.
Mr. Bohnenberger advised that he would be abstaining due to a
possible conflict of interest.
RESOLUTION NO. FA 91-1
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE CITY OF LA
QUINTA FINANCING AUTHORITY AUTHORIZING THE SALE, EXECUTION ND
DELIVERY OF NOT MORE THAN $9,000,000 PRINCIPAL AMOUNT OF BO?Db
AND APPROVING CERTAIN DOCUMENTS IN CONNECTION THEREWITH.
It was moved by Mr. Sniff, seconded by Mr. Rushworth that
Resolution No. FA 91-1 be adopted. Motion carried unanimously
with Mr. Bohnenberger abstaining.
There being no further business, the meeting was adjourned.
Re submitted,
RAL.J?SecretarY
La Quinta Financing Authority
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