2013 10 15 FAOF
FINANCING AUTHORITY
AGENDA
CITY HALL COUNCIL CHAMBERS
78-495 Calle Tampico, La Quinta
REGULAR MEETING ON TUESDAY, OCTOBER 15, 2013 AT 4:00 P.M.
CALL TO ORDER
ROLL CALL:
Authority Members: Evans, Franklin, Henderson, Osborne, Chairperson 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. The Financing Authority values your comments; however in accordance
with State law, no action shall be taken on any item not appearing on the agenda unless it
is an emergency item authorized by GC 54954.2(b).
CONFIRMATION OF AGENDA
APPROVAL OF MINUTES
PAGE
1. MINUTES OF SEPTEMBER 17, 2013 3
CONSENT CALENDAR
NOTE: Consent Calendar items are routine in nature and can be approved by one motion.
RECEIVE AND FILE TREASURER'S REPORTS DATED JULY 31, 5
2013 AND AUGUST 31, 2013
2. RECEIVE AND FILE REVENUE AND EXPENDITURE REPORTS 7
DATED AUGUST 31, 2013 AND INVESTMENT SUMMARY
REPORT FOR THE QUARTER ENDING SEPTEMBER 30, 2013
BUSINESS SESSION — NONE
FINANCING AUTHORITY AGENDA 1 OCTOBER 15, 2013
CHAIR AND BOARD MEMBERS' ITEMS
PUBLIC HEARINGS — NONE
ADJOURNMENT
The next regular meeting of the Financing Authority will be held on November 19,
2013 at 4:00 p.m. in the City Council Chambers, 78-495 Calle Tampico,
La Quinta, CA 92253.
DECLARATION OF POSTING
I, Susan Maysels, Authority Secretary of thi
hereby declare that the foregoing agenda fo
meeting was posted near the entrance to the
Tampico and on the bulletin boards at the La
Avenida Bermudas and at the Stater Brothers
on October 11, 2013.
DATED: October 1 1 , 2013
SUSAN MAYSELS, Authority Secretary
La Quinta Financing Authority
La Quinta Financing Authority, do
the La Quinta Financing Authority
Council Chambers at 78-495 Calle
Quinta Cove Post Office at 51-321
Supermarket 78-630 Highway 1 1 1,
Public Notices
• 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.
FINANCING AUTHORITY AGENDA 2 OCTOBER 15, 2013
FINANCING AUTHORITY
MINUTES
TUESDAY, SEPTEMBER 17, 2013
A regular meeting of the La Quinta Financing Authority was called to order at 4:56
p.m. by Chairperson Adolph.
PRESENT: Authority Members Evans, Franklin, Henderson, Osborne, Chair Adolph
ABSENT: None
PUBLIC COMMENT - None
CONFIRMATION OF AGENDA - Confirmed
APPROVAL OF MINUTES
MOTION - A motion was made and seconded by Authority Members Evans/
Henderson to approve the minutes of July 16, 2013 as submitted. Motion passed
unanimously.
CONSENT CALENDAR
1. TREASURER'S REPORT DATED JUNE 30, 2013
2. REVENUE AND EXPENDITURES REPORT DATED JUNE 30, 2013
MOTION - A motion was made and seconded by Authority Members Franklin/
Henderson to approve the Consent Calendar as recommended. Motion passed
unanimously.
BUSINESS SESSION - None
CHAIR AND BOARD MEMBERS' ITEMS - None
PUBLIC HEARINGS - None
ADJOURNMENT
There being no further business, it was moved and seconded by Authority
Members Evans/Franklin to adjourn at 4:57 p.m. Motion passed unanimously.
Respectfully submitted,
SUSAN MAYSELS, Authority Secretary
La Quinta Financing Authority
FINANCING AUTHORITY MINUTES 1 SEPTEMBER 17, 2013
3
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CITY / SA / HA / FA MEETING DATE: October 15, 2013 AGENDA CATEGORY:
BUSINESS SESSION:
ITEM TITLE: RECEIVE AND FILE TREASURER'S
REPORTS DATED JULY 31, 2013 AND AUGUST 31, CONSENT CALENDAR:
2013
STUDY SESSION:
PUBLIC HEARING:
RECOMMENDED ACTION:
Receive and file.
FISCAL IMPACT:
None.
BACKGROUND/ANALYSIS:
Per City Investment Policy, these items are presented on a monthly basis reflecting
the monthly Cash Balances, Investment Activities and the Portfolio Performance,
which is presented in the City Council's Consent Item Staff Report.
ALTERNATIVES:
None.
Report prepared by: Robbeyn Bird, Finance Director
Report approved for submission by: Frank J. Spevacek, City Manager
5
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CITY / SA / HA / FA MEETING DATE: October 15, 2013 AGENDA CATEGORY:
BUSINESS SESSION:
ITEM TITLE: RECEIVE AND FILE REVENUE AND
EXPENDITURE REPORTS DATED AUGUST 31, 2013 CONSENT CALENDAR:
AND INVESTMENT SUMMARY FOR THE QUARTER
STUDY SESSION:
ENDING SEPTEMBER 30, 2013
PUBLIC HEARING:
RECOMMENDED ACTION:
Receive and file.
EXECUTIVE SUMMARY:
• The Revenue and Expenditure reports (Attachments 1 and 2) are submitted
monthly to the Financing Authority for review.
• The reports summarize year-to-date revenues and expenditures of the
Financing Authority as of August 31, 2013.
• The Investment Summary Report (Attachment 3) is submitted quarterly to
the Financing Authority for review.
• The report summarizes the Financing Authority's investments for the quarter
ending September 30, 2013.
FISCAL IMPACT:
None.
BACKGROUND/ANAYLSIS:
The revenue and expenditure reports are submitted to the La Quinta Financing
Authority monthly to review, receive, and file. Through August 31, 2013, there
have been no revenues received or expenditures made.
The Investment Summary Report presents investments for the quarter ending
September 30, 2013.
ALTERNATIVES:
None. 7
Report prepared by: Robbeyn Bird, Finance Director
Report approved for submission by: Frank J. Spevacek, City Manager
Attachments: 1 . Revenue Reports for August 31, 2013
2. Expenditure Reports for August 31, 2013, 2013
3. Investment Summary Report for the Quarter Ending
September 30, 2013
8
LA QUINTA FINANCING AUTHORITY
REVENUE DETAIL
DEBT SERVICE REVENUE:
Contractual Services Fees
Nan Allocated Interest
Rental Income
Transfer In
TOTAL DEBT SERVICE
TOTAL FINANCING AUTHORITY
07/01/2013 - 08/31/2013
ADJUSTED REMAINING %
BUDGET RECEIVED BUDGET RECEIVED
5,000.00
0.00
5,000.00
0.000%
0.00
0.00
0.00
0.000%
673,400.00
0.00
673,400.00
0.000%
0.00
0.00
0.00
0.000%
678,400.00
0.00
678,400.00
0.000%
678,400.00 0.00 678,400.00 0.000%
LA QUINTA FINANCING AUTHORITY ADJUSTED 8/31/2013 REMAINING
EXPENDITURE SUMMARY BUDGET EXPENDITURES ENCUMBERED BUDGET
DEBT SERVICE EXPENDITURES
SERVICES
6,000.00
0.00
0.00
6,000.00
BOND PRINCIPAL- 1996
495,000.00
0.00
0.00
495,000.00
BOND INTEREST - 1996
176,400.00
0.00
0.00
176,400.00
TRANSFER OUT
0.00
0.00
0.00
0.00
TOTAL DEBT SERVICE
677,400.00
0.00
0.00
677,400.00
TOTAL FINANCING AUTHORITY
677,400.00
0.00
0.00
677,400.00
10
ATTACHMENT 3
City of La Quinta
Quarterly Investment Summary - Footnote 1
September 30, 2013
Financing Authority
U.S. Bank - Finance Auth. Debt Svc - 2011
U.S. Bank - 2004 Housing Project
U.S. Bank - 2004 Housing Project
U.S. Bank - Finance Auth. Debt Svc - 2011
Money Market Mutual Fund
Money Market Mutual Fund
reasury Bill
reasury Bill
Maturity
Date
Next Day
Next Day
12/19/2013
2/6/2014
Less % Attributable to Financing Authority from City Pooled Investments
Total
Footnote 1 - The Quarterly Investment Report does not include the City of La Quinta checking account, sweep
account, Housing Program account or petty cash account. Market Value is based upon most current
information available.
I certify that this report accurately reflects all pooled investments and is in compliance with the California
Government Code; and is in conformity with the City Investment Policy.
As Treasurer of the City of La Quinta, I hereby certify that sufficient investment liquidity and anticipated
revenues are available to meet the pools expenditure requirements for the next six months. The City of
La Quinta used the Bureau of the Public Debt, U.S. Bank Monthly Statement and the Bank of New York
Monthly Custodian Report to determine the fair market value of investments at month end.
_ "
i' Robbeyn Birt
Par Value I I Market Value
n/a I I 95,881
n/a 568,750
2,000,000 1,999,940
to 4 13
Date
Amortized Cost
95,881
568,750
1,999,757
2.601.791
$5,266,179
863
$5,267,042
IE
12