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Financing Authority
Agenda
CITY COUNCIL CHAMBER
78-495 Calle Tampico
La auinta, California 92253
Tuesday. June 18. 2002 - 3:00 p.m.
Beginning Res. No. FA 2002-02
CALL TO ORDER
ROLL CALL:
Board Members: Adolph, Henderson, Perkins, Sniff, Chairman Pena
PUBLIC COMMENT
At this time, members of the public may address the Finance Authority on any matter
not listed on the agenda or scheduled for public hearing. Please complete a "request
to speak" form and limit your comments to three minutes.
For all Public Hearings on the agenda, a completed "request to speak" form must be
filed with the City Clerk prior to the Council beginning consideration of that item.
Please watch the timing device on the podium.
CONFIRMATION OF AGENDA
APPROVAL OF MINUTES
MINUTES OF THE MEETING OF MAY 21, 2002.
CONSENT CALENDAR
1. TRANSMITTAL OF TREASURER'S REPORT FOR APRIL 30, 2002.
2. TRANSMITTAL OF REVENUES AND EXPENDITURES REPORT FOR APRIL 30, 2002.
T00
BUSINESS SESSION
CONSIDERATION OF A RESOLUTION ADOPTING THE INVESTMENT POLICY OF THE
CITY OF LA QUINTA FOR FISCAL YEAR 2002/03.
A. RESOLUTION ACTION.
DEPARTMENT REPORTS - None
CHAIR AND BOARD MEMBERS' ITEMS - None
PUBLIC HEARINGS - None
ADJOURNMENT - Adjourn to a Regular Meeting of the Financing Authority to be held on July 16,
2002, in the City Council Chambers, 78-495 Calle Tampico, CA 92253.
DECLARATION OF POSTING
I, June S. Greek, Authority Secretary of the City of La Quinta Financing Authority, do hereby declare
that the foregoing agenda for the La Quinta Financing Authority meeting of Tuesday, June 18, 2002,
was posted on the outside entry to the Council Chambers, 78-495 Calle Tampico and on the bulletin
board at the La Quinta Chamber of Commerce and at Stater Bros. 78-630 Highway 111, on Friday,
June 14, 2002.
DATED: June 14, 2002
JU S. GREEK, CIVIC
Authority Secretary, City of La Quinta, California
PUBLIC NOTICES
The La Quinta City Council Chamber is handicapped accessible. If special equipment is needed for the
hearing impaired, please call the City Clerk's Office at 777-7025, 24-hours in advance of the meeting
and accommodations will be made
002
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COUNCIL/RDA MEETING DATE: June 18, 2002
Transmittal of Treasurer's Report
as of April 30, 2002
RECOMMENDATION:
It is recommended the La Quinta Financing Authority:
Receive and file.
AGENDA CATEGORY:
BUSINESS SESSION:
CONSENT CALENDAR:
STUDY SESSION:
PUBLIC HEARING:
PLEASE SEE RELATED BUSINESS SESSION ITEM ON CITY COUNCIL AGENDA
003
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AGENDA CATEGORY:
BUSINESS SESSION:
COUNCIL/RDA MEETING DATE: June 18, 2002 CONSENT CALENDAR:
ITEM TITLE:
STUDY SESSION:
PUBLIC HEARING:
Transmittal of Revenue and Expenditure Report for
April 30, 2002
RECOMMENDATION:
Receive and File
BACKGROUND AND OVERVIEW:
Transmittal of the Statement of Revenue and Expenditures for April 30, 2002 for
the La Quinta Financing Authority.
ully sub
M. Falconer, Finance Director
Approved for submission by:
Thomas P. Genovese, City Manager
Attachments: 1. Revenue and Expenditures for April 30, 2002
004
LA QUINTA FINANCING AUTHORITY
REVENUE DETAIL
DEBT SERVICE REVENUE:
Contractual Services Fees
Non Allocated Interest
Rental Income
Transfer In
TOTAL DEBT SERVICE
CAPITAL IMPROVEMENT REVENUE:
Pooled Cash Allocated Interest
Non Allocated Interest
TOTAL CIP REVENUE
BUDGET RECEIVED
9,589.00 9,589.00
390.40
678,955.00 680,243.83
0.00
REMAINING %
BUDGET RECEIVED
0.00
100.000%
(390.40)
0.000%
(1,288.83)
100.190%
0.00
0.000%
688,544.00 690,223.23 (1,679.23) 100.240%
2,407.46 (2,407.46) 0.000%
10,249.56 (10,249.56) 0.000%
0.00 12,657.02 (12,657.02) 0.000%
TOTAL FINANCING AUTHORITY 688,544.00 702,880.25 (14,336.25) 102.080%
005
G 0 3
LA QUINTA FINANCING AUTHORITY
EXPENDITURE SUMMARY
DEBT SERVICE EXPENDITURES
SERVICES
BOND PRINCIPAL
BOND INTEREST
TRANSFER OUT
TOTAL DEBT SERVICE
CAPITAL IMPROVEMENT EXPENDITURES
TRANSFER OUT
TOTAL CAPITAL IMPROVEMENT
07/01/2001-04/30/2002
REMAINING
%
BUDGET
EXPENDITURES
ENCUMBERED
BUDGET
EXPENDED
9,589.00
6,576.50
0.00
3,012.50
68.6%
275,000.00
275,000.00
0.00
0.00
100.0%
407,178.00
407,177.50
0.00
0.50
100.0%
0.00
0.00
0.00
0.0%
691,767.00
688,754.00
0.00
3,013.00
99.6%
517,731.78
368,481.40
0.00
149,250.38
71.2%
517,731.78
368,481.40
0.00
149,250.38
71.2%
TOTAL FINANCING AUTHORITY 1,209,498.78 1,057,235.40 0.00 152,263.38 87.41%
006
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AGENDA CATEGORY:
BUSINESS SESSION:
COUNCIL/RDA MEETING DATE: June 18, 2002 CONSENT CALENDAR:
STUDY SESSION:
Consideration of a Resolution Adopting the
PUBLIC HEARING:
Investment Policy of the Financing Authority
for Fiscal Year 2002/2003
RECOMMENDATION:
Adopt a Resolution of the Financing Authority approving the Investment Policy of the
City of La Quinta for Fiscal Year 2002/2003.
SEE CITY COUNCIL STAFF REPORT
007
RESOLUTION NO. FA 2002-
A RESOLUTION OF THE LA QUINTA FINANCING
AUTHORITY OF THE CITY OF LA QUINTA APPROVING
AND ADOPTING THE AMENDED INVESTMENT POLICY
FOR FISCAL YEAR 2002/2003
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; 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 2002/2003 Fiscal Year Investment Policy (Exhibit A).
PASSED, APPROVED and ADOPTED at a regular meeting of the La Quinta
Financing Authority, held on this day of , 2002 by
the following vote, to wit:
AYES:
NOES:
ABSTAIN:
ABSENT:
JOHN J. PENA, Chairman
La Quinta Financing Authority
ATTEST:
JUNE S. GREEK, Secretary
La Quinta Financing Authority
APPROVED AS TO FORM:
KATHY JENSON, City Attorney
La Quinta Financing Authority
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