2014 04 15 FAOF
FINANCING AUTHORITY
AGENDA
CITY HALL COUNCIL CHAMBERS
78-495 Calle Tampico, La Quinta
REGULAR MEETING ON TUESDAY, APRIL 15, 2014 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 MARCH 18, 2014 3
CONSENT CALENDAR
NOTE: Consent Calendar items are routine in nature and can be approved by one motion.
RECEIVE AND FILE TREASURER'S REPORT DATED JANUARY 31, 5
2014
2. RECEIVE AND FILE REVENUE AND EXPENDITURE REPORT 7
DATED JANUARY 31, 2014
FINANCING AUTHORITY AGENDA
APRIL 15, 2014
BUSINESS SESSION
1. ADOPT RESOLUTION AMENDING AND RESTATING BYLAWS 11
AND RULES OF PROCEDURE [RESOLUTION FA 2014-0021
CHAIR AND BOARD MEMBERS' ITEMS - NONE
PUBLIC HEARINGS - NONE
ADJOURNMENT
For information regarding the date of the next meeting of the Financing Authority,
please contact the City Clerk's Office at 760-777-7000.
DECLARATION OF POSTING
I, Susan Maysels, Authority Secretary of thf
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 April 11, 2014.
DATED: April 11, 2014
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
APRIL 15, 2014
FINANCING AUTHORITY
MINUTES
TUESDAY, MARCH 18, 2014
A regular meeting of the La Quinta Financing Authority was called to order at 7:1 1
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 February 18, 2014 as submitted. Motion
passed unanimously.
CONSENT CALENDAR
1. RECEIVE AND FILE TREASURER'S REPORT DATED DECEMBER 31, 2013
2. RECEIVE AND FILE REVENUE AND EXPENDITURES REPORT DATED
DECEMBER 31, 2013
MOTION - A motion was made and seconded by Authority Members Franklin/
Evans to approve the Consent Calendar as recommended. Motion passed
unanimously.
BUSINESS SESSION
1. RESOLUTION APPROVING ISSUANCE AND SALE OF SUBORDINATE TAX
ALLOCATION REFUNDING BONDS [RESOLUTION FA 2014-0011
MOTION - A motion was made and seconded by Authority Members Evans/
Franklin to adopt Resolution FA 2014-001 entitled:
RESOLUTION OF THE LA QUINTA FINANCING AUTHORITY
AUTHORIZING THE EXECUTION OF THE ESCROW AGREEMENT
FINANCING AUTHORITY MINUTES 1
MARCH 18, 2014
3
RELATING TO THE REFUNDING OF THE 2004 TAX ALLOCATION
REFUNDING BONDS (HOUSING BONDS)
Motion passed unanimously.
CHAIR AND BOARD MEMBERS' ITEMS - None
PUBLIC HEARINGS - None
ADJOURNMENT
There being no further business, it was moved and seconded by Authority
Members Evans/Henderson to adjourn at 7:12 p.m. Motion passed unanimously.
Respectfully submitted,
SUSAN MAYSELS, Authority Secretary
La Quinta Financing Authority
FINANCING AUTHORITY MINUTES 2
MARCH 18, 2014
4
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CITY / SA / HA / F4 MEETING DATE: April 15, 2014 AGENDA CATEGORY:
ITEM TITLE: RECEIVE AND FILE TREASURER'S REPORT BUSINESS SESSION:
DATED JANUARY 31, 2014
CONSENT CALENDAR:
STUDY SESSION:
PUBLIC HEARING:
RECOMMENDED ACTION:
Receive and file.
FISCAL IMPACT:
None.
BACKGROUND/ANALYSIS:
Per City Investment Policy, the Treasurer's Report is presented on a monthly basis
and reflects monthly cash balances, investment activities, and the portfolio
performance. The City pools all cash and investments. Therefore, a separate
report for each reporting entity is not issued. The combined report for all entities is
presented in the City Council's consent item staff report.
ALTERNATIVES:
None.
Report prepared by: Patrick Griffin, Interim Finance Director
Report approved for submission by: Frank J. Spevacek, City Manager
5
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CITY / SA / HA / FA MEETING DATE: April 15, 2014 AGENDA CATEGORY:
ITEM TITLE: RECEIVE AND FILE REVENUE AND BUSINESS SESSION:
EXPENDITURE REPORTS DATED JANUARY 31, 2014
CONSENT CALENDAR:
STUDY SESSION:
PUBLIC HEARING:
RECOMMENDED ACTION:
Receive and file.
EXECUTIVES SUMMARY:
• Revenue and expenditure reports are submitted to the Financing Authority
for review.
• The reports summarize year-to-date revenues and expenditures of the
Financing Authority.
FISCAL IMPACT:
None.
BACKGROUND/ANAYLSIS:
Revenue and expenditure reports are submitted to the La Quinta Financing
Authority monthly to review, receive, and file. Attached are the January 31, 2014
Statements of Revenues and Expenditures for the Financing Authority
(Attachments 1 and 2, respectively).
The La Quinta Financing Authority has collected 87.0 percent of its projected
revenues through January 31, 2014. Expenditures are at 87.5 percent of the
budgeted amounts. The revenue and expenditure difference is funded from
Financing Authority reserves. Revenues received are transferred from the General
Fund to pay for the interest and principal payments for the Civic Center bonds.
ALTERNATIVES:
None.
Report prepared by: Patrick Griffin, Interim Finance Director
Report approved for submission by: Frank J. Spevacek, City Manager
Attachments: 1 . Revenue Reports for January 31, 2014
2. Expenditure Reports for January 31, 2014
3. Investment Summary Report for Quarter ending March 31, 2014
8
ATTACHMENT 1
LA QUINTA FINANCING AUTHORITY
REVENUE DETAIL
DEBT SERVICE REVENUE:
Contractual Services Fees
Non Allocated Interest
Rental Income
Transfer In
TOTAL DEBT SERVICE
TOTAL FINANCING AUTHORITY
07/01/2013 - 01/31/2014
ADJUSTED REMAINING %
BUDGET RECEIVED BUDGET RECEIVED
5,000.00
0.00
5,000.00
0.000%
0.00
1.46
(1.46)
0.000%
673,400.00
590,043.75
83,356.25
87.620%
0.00
0.00
0.00
0.000%
678,400.00
590,045.21
88,354.79
86.980%
678,400.00 590,045.21 88,354.79 86.980%
ATTACHMENT 2
LA QUINTA FINANCING AUTHORITY
EXPENDITURE SUMMARY
DEBT SERVICE EXPENDITURES
SERVICES
BOND PRINCIPAL - 1996
BOND INTEREST - 1996
TRANSFER OUT
MID -YEAR ADJUSTED
BUDGET REQUESTS BUDGET
1/31/2014 REMAINING
EXPENDITURES ENCUMBERED BUDGET
6,000.00 6,000.00 2,901.00 0.00 3,099.00
495,000.00 495,000.00 495,000.00 0.00 0.00
176A00.00 176,400.00 95,043.75 0.00 81,356.25
0.00 0.00 0.00 0.00 0.00
TOTAL DEBT SERVICE 677,400.00 0.00 677,400.00 592,944.75 0.00 84,455.25
TOTAL FINANCING AUTHORITY 677,400.00 0.00 677,400.00 592,944.75 0.00 84,455.25
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CITY / SA / HA / FA MEETING DATE: April 15, 2014
ITEM TITLE: ADOPT RESOLUTION AMENDING AND
RESTATING BYLAWS AND RULES OF PROCEDURE
RECOMMENDED ACTION:
AGENDA CATEGORY:
BUSINESS SESSION:
CONSENT CALENDAR:
STUDY SESSION:
PUBLIC HEARING:
Adopt a resolution approving the Amended and Restated Bylaws and Rules of
Procedure.
EXECUTIVE SUMMARY:
Due to changes in law, policy, and/or practice, amendments to the Rules of
Procedure ("Rules") are necessary from time -to -time.
At the January 21, 2014 Council meeting, Council formed an Ad Hoc
Committee consisting of Councilmembers Evans and Franklin to review the
Rules.
A thorough examination of all sections of the Rules was undertaken to
incorporate changes in State law, improvements in technology, increased
emphasis on transparency, and evolved practices.
The Council Rules will now be the master document containing all matters
common to every City government body. The Housing Authority, Financing
Authority, and Successor Agency Rules are consistent with each other and
contain only the provisions specific to that government body.
FISCAL IMPACT:
Financing Authority and Successor Agency Members serve without pay, but
Housing Authority Members are entitled to $50 per meeting. The anticipated
savings due to the reduction of regular Housing Authority meetings from monthly
Is
to quarterly is $1,600 in salaries (Councilmember Henderson waives pay for these
meetings.) Savings of paper, equipment wear and tear, and staff time will also
result from the reduction in agenda packet production.
BACKGROUND/ANALYSIS:
With the exception of sections discussed below, all changes to the Rules reflect
current practice, recently enacted State law, or accomplish the goals of logical
organization and consistency.
HOUSING AUTHORITY
Section 5 Regular Meetings — The Housing Authority has been meeting monthly
since it was established in October 2009. The dissolution of the Redevelopment
Agency and the completion of several major housing projects have slowed housing
development activity. Staff estimates that quarterly meetings will be sufficient to
address housing business going forward. If an additional meeting is needed, a
special meeting may be called at any time. A redlined version of the Housing
Authority Rules is included as Attachment 1 .
FINANCING AUTHORITY
The Financing Authority, which was created in 1988, did not have formal Rules but
the Joint Exercise of Powers Agreement (JEPA) that established the Authority, and
Resolution Nos. FA1988-001, FA2006-003 addressed many of the matters
typically included in Rules documents. The new Rules were created by pulling
relevant provisions from these three documents and using the amended and
restated Housing Authority Rules document as a template.
Section 5 Meetings — From 1988 to 2006, the Financing Authority was only
required to meet on the first Tuesday of the month preceding the date it expected
to purchase bonds or other evidence of indebtedness. During the years 1988 to
1999, the Authority met, on average, three times per year. Starting in 2000 and
continuing to the present, the Authority has met monthly. There is no record of
Authority Members formalizing this change, nor is there any staff report or minutes
addressing it until 2006. The change to monthly meetings was formalized with the
adoption of Resolution No. FA2006-003 but the accompanying staff report and
resolution "whereas" sections do not explain the reason for the change to monthly
meetings.
Based on research of State and Municipal Code, meeting requirements for the
Financing Authority are not specific days, or frequency. Financing Authorities are
only required to meet to take action on certain matters. Therefore, the text of
Section 5 calls for meetings to occur as needed to take action on necessary annual
budgets, annual investment policies, annual financial reports, and bond items.
Since no regular meeting day is being set, as -needed meetings will be labeled
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special meetings. To each meeting called, staff will add Consent Calendar items
such as approval of minutes, revenue and expenditure report(s), and treasurer's
reports that are pending since the last meeting. No operational problem or conflict
with State Code arises from less frequent approval of minutes or routine Finance
Department reports.
SUCCESSOR AGENCY
The Successor Agency has not adopted Rules. In developing Rules for the Agency,
the amended and restated Housing Authority Rules template was used since most
provisions are common to both bodies.
Section 5 Meetings — The Successor Agency has been meeting twice per month
following every Council meeting since its creation in 2012. The purpose of the
Agency is to wind down the affairs of the dissolved Redevelopment Agency and as
such, the text of Section 5 states that it shall meet as needed when action is
required on these matters. State law is silent on the frequency of Agency
meetings. As with the Financing Authority above, staff will bring accumulated
minutes and finance reports to each meeting called and meetings will be labeled
special meetings.
ALTERNATIVES:
With the exception of provisions required by State law, Council may add, delete, or
amend any existing or proposed section of the Rules.
Report prepared by: Susan Maysels, Secretary
Report approved for submission by: Frank J. Spevacek, Executive Director
13
14
RESOLUTION NO. FA 2014 -
A RESOLUTION OF THE LA QUINTA FINANCING
AUTHORITY OF THE CITY OF LA QUINTA,
CALIFORNIA, ADOPT AMENDED AND RESTATED
BYLAWS AND RULES OF PROCEDURE FOR MEETINGS,
RELATED FUNCTIONS, AND ACTIVITIES
WHEREAS, pursuant to the Joint Exercise of Powers Act, the City of La
Quinta (the "City") and the La Quinta Redevelopment Agency (the "RDA")
executed a Joint Exercise of Powers Agreement dated November 3, 1988 (the
"Original Agreement") whereby the City and the RDA created and established the
La Quinta Financing Authority (the "Authority");
WHEREAS, as part of the 201 1 /2012 State budget bill, the California
Legislature enacted and the Governor signed, Assembly Bill 26 ("ABx1 26")
requiring that each redevelopment agency be dissolved, and on December 29,
2011, the Court upheld ABx 1 26; and
WHEREAS, on January 2, 2012, the City Council adopted Resolution 2012-
002, affirmatively electing to be the Successor Agency to the dissolved La Quinta
Redevelopment Agency ("Successor Agency"); and
WHEREAS, on June 27, 2012, the California Legislature enacted, and the
Governor signed, Assembly Bill 1484 ("AB 1484"), which, among other things,
made certain revisions to certain of the statutes added by ABx1 26; and
WHEREAS, on March 18, 2014, the City and the Successor Agency
executed an Extension to the Original Agreement (the "Extension"), which
extended the term of the Original Agreement; and
WHEREAS, the Authority desires to adopt amended and restated bylaws
and rules of procedure for the general operation of the Authority and conduct of
its meetings, which shall supersede previous resolutions addressing these matters.
NOW, THEREFORE, BE IT RESOLVED by the Financing Authority of the City
of La Quinta, California, as follows:
SECTION 1 . The Amended and Restated Bylaws and Rules of Procedure of the La
Quinta Financing Authority, a copy of which is attached hereto as Exhibit "A" and
incorporated herein are hereby approved.
IN
Resolution No. FA 2014-
Amended & Restated Bylaws & Rules of Procedure
Adopted: April 15, 2014
Page 2 of 7
SECTION 2. The Financing Authority Chairperson and Executive Director are
authorized and directed to take such actions and execute such documents as may
be necessary to implement and affect this Resolution and the Bylaws on behalf of
the Financing Authority.
SECTION 3. The Authority Secretary shall certify to the adoption of this
Resolution.
PASSED, APPROVED, and ADOPTED at a regular meeting of the La Quinta
Financing Authority held on this day of 2014 by the following
vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
DON ADOLPH, Chairperson
La Quinta Financing Authority
ATTEST:
SUSAN MAYSELS, Secretary
La Quinta Financing Authority
(AUTHORITY SEAL)
APPROVED AS TO FORM:
M. KATHERINE JENSON, Authority Counsel
La Quinta Financing Authority
Ir-1
Resolution No. FA 2014-
Amended & Restated Bylaws & Rules of Procedure
Adopted: April 15, 2014
Page 3 of 7
EXHIBIT A
AMENDED AND RESTATED
BYLAWS AND RULES OF PROCEDURE
OF THE LA QUINTA FINANCING AUTHORITY
SECTION 1. CITY COUNCIL RULES OF PROCEDURE INCORPORATED
Except as provided otherwise herein, the provisions of the Rules of Procedure for
City Council Meetings and Related Functions and Activities shall apply to the La
Quinta Financing Authority and are hereby incorporated by reference as currently
written and as amended from time to time.
SECTION 2. NAME OF AUTHORITY.
The official name of the City of La Quinta Financing Authority shall be the "La
Quinta Financing Authority" (herein referred to as "Authority").
SECTION 3. SEAL OF AUTHORITY.
The seal of the Authority shall be in the form of a circle and shall bear the name
of the Authority and the year of its organization.
SECTION 4. OFFICE OF AUTHORITY AND PLACE OF MEETING.
The office and regular place of meeting of the Authority shall be at the La Quinta
City Hall, 78-495 Calle Tampico, La Quinta, California. The Authority may hold
its meetings at such other locations as the Authority may from time to time
designate by resolution, in the order of adjournment, or notice of call of any
special meeting.
SECTION 5. MEETINGS
The Authority shall meet as needed to (1) review and adopt the Authority's
annual budget, (2) review and file the Authority's Comprehensive Annual Financial
Report, and (3) approve the purchase or issuance of bonds or other evidence of
indebtedness. The time of the meeting shall be that designated in the Rules of
Procedure for Council Meetings and Related Functions and Activities, as it
currently exists or as amended from time to time. All such meetings will be
noticed as special meetings under the Brown Act.
SECTION 6. POWERS.
The Authority shall be vested with all the rights, powers, duties, privileges, and
immunities established by Articles 1 and 2 of Chapter 5 of Division 7 of Title 1 of
the Government Code of the State of California ("Joint Exercise of Powers Act")
and the Joint Exercise of Powers Agreement by and between the City of La
`n
Resolution No. FA 2014-
Amended & Restated Bylaws & Rules of Procedure
Adopted: April 15, 2014
Page 4 of 7
Quinta and the Successor Agency to the dissolved Redevelopment Agency
("Successor Agency"), and all amendments and extension thereto, which powers
shall be vested in the Authority Members thereof then in office, who reserve unto
themselves the right to delegate such powers as are appropriate and permissible
by law.
SECTION 7. AUTHORITY MEMBERS.
The members of the Authority shall be, at all times, members of the Successor
Agency. Each member's term of office as a member of the Authority shall
terminate when such member of the Authority shall cease to be a member of the
Successor Agency; and the successor to such member of the Successor Agency
shall become a member of the Authority.
SECTION 8. OFFICERS AND OFFICIALS
The officers of the Authority shall be a Chairperson and a Vice -Chairperson.
Other officials acting as its staff shall be an Executive Director, a Finance Officer,
a General Counsel, a Secretary, and such other officials as the Authority Members
may determine. Subject to the provisions of these Bylaws and Rules of
Procedure, the Authority Members shall set the selection, duties, and
compensation of such officials.
Whenever an officer of the City or the Successor Agency is designated an officer
of the Authority, the assistants and deputies of such officer from time to time
shall also be, ex officio, officers of the Authority; and whenever a power is
granted to, or a duty imposed upon, such officer, the power may be exercised, or
the duty performed, by such assistant or deputy.
SECTION 9. CHAIRPERSON
The Chairperson shall be the current Mayor of the City of La Quinta who shall
serve until a successor has been duly elected. The Chairperson shall preside at
all meetings of the Authority.
SECTION 10. VICE -CHAIRPERSON
The Vice -Chairperson shall be the Mayor Pro Tempore of the City of La Quinta
and shall serve until a successor has been duly appointed. The Vice -Chairperson
shall perform the duties of the Chairperson in the absence, incapacity, resignation,
or death of the Chairperson until such time as the Chairperson returns or a new
Chairperson takes office.
SECTION 11. ABSENCES
In the absence of the Chairperson and Vice -Chairperson, the Authority Members
shall elect a member present as temporary Chairperson for the purpose of
conducting meetings and performing the duties of the Chairperson.
18
Resolution No. FA 2014-
Amended & Restated Bylaws & Rules of Procedure
Adopted: April 15, 2014
Page 5 of 7
SECTION 12. EXECUTIVE DIRECTOR
The Executive Director shall be the person acting as the City Manager of the City
of La Quinta. The Executive Director shall have general supervision over
administration of the Authority business and its affairs, subject to the direction of
the board members.
SECTION 13. FINANCE OFFICER
The Finance Officer shall be the person acting as the Finance Director/ Treasurer
of the City of La Quinta. The Finance Officer shall have the care and custody of
all funds of the Authority and shall deposit the same in the name of the Authority
in such bank or banks as the Authority may select. The Finance Officer shall sign
all checks, drafts, or orders for the payment of money, notes, or other
indebtedness and shall pay out and disburse such monies under the direction of
the Authority. The Finance Officer shall keep regular books of account, showing
receipts and expenditures and shall render to the Authority at each meeting, or
more often when requested, an account of transactions and the financial
conditions of the Authority.
SECTION 14. GENERAL COUNSEL
The General Counsel shall be the person acting as the City Attorney of the City of
La Quinta. The General Counsel shall be the chief legal officer of the Authority
and shall be responsible for the preparation of all proposed resolutions, laws,
rules, contracts, bonds, and all other legal papers for the Authority. The General
Counsel shall give his/her advice or opinion in writing to the Chairperson or other
Authority officers and officials whenever required to do so. The General Counsel
shall attend to all suits and other matters to which the Authority is a party or in
which the Authority may be legally interested and do such other things pertaining
to the office as the Authority may require.
SECTION 15. SECRETARY.
The Secretary shall be the person acting as the City Clerk of the City of La
Quinta. The Secretary shall keep the records of the Authority, shall act as
secretary at meetings of the Authority, shall record all votes, keep a record of the
proceedings of the Authority in a journal of proceedings to be kept for such
purpose, and shall perform all duties incident to the office. The Secretary shall
maintain a record of all official proceedings of the Authority and its programs.
SECTION 16. ADDITIONAL DUTIES.
The officers and officials of the Authority shall perform such other duties and
functions as may from time to time be required by the Authority or by these
Bylaws and Rules of Procedure.
0
Resolution No. FA 2014-
Amended & Restated Bylaws & Rules of Procedure
Adopted: April 15, 2014
Page 6 of 7
SECTION 17. PERSONNEL
The ordinances, resolutions, rules, and regulations of the City governing its
personnel shall also govern the personnel of the Authority.
SECTION 18. VACANCIES.
Where an office of the Authority becomes vacant and these Bylaws and Rules of
Procedure specify that the person serving in that office is the person holding a
designated position with the City, the office shall remain vacant until a person is
appointed to the City position, unless the Authority Members make a temporary
appointment until such position is filled. In all other cases, when an office
becomes vacant, the Authority Members shall appoint a successor within a
reasonable period or by an affirmative vote of the majority, determine that such
position shall remain vacant for a definite or indefinite period. No Authority
Member shall be eligible for any office of the Authority other than Chairperson
and Vice- Chairperson.
SECTION 19. COMPENSATION
No Authority Member shall be employed by the Authority during his/her tenure of
office. Authority Members shall not receive any compensation for serving as
such, but shall be entitled to reimbursement for any expenses actually incurred in
connection with serving as a member of the Authority. The Authority shall
determine if such expenses shall be reimbursed and if there are unencumbered
funds available for such purpose.
SECTION 20. ADDITIONAL PERSONNEL, AGENTS, AND CONSULTANTS
The Authority may from time to time appoint or employ such personnel, agents,
and consultants, as it deems necessary to exercise its powers, duties, and
functions. The Authority may utilize the services of City and/or Successor
Agency employees as authorized by the City and/or Successor Agency. In
addition, the Authority may retain such agents and consultants, permanent and
temporary, as it may require. The selection, duties, and compensation of such
personnel, agents, and consultants shall be determined by the Authority subject
to the laws of the State of California.
SECTION 21. PAYMENT OF MONEY, NOTES, AND OTHER INDEBTEDNESS
All checks, drafts or other orders for the payment of money, notes, or other
evidence of indebtedness issued in the name of or payable to the Authority
require the signature of any two of the following persons: the Chairperson, Vice -
Chairperson, Authority Executive Director, and the Authority Finance Officer.
20
Resolution No. FA 2014-
Amended & Restated Bylaws & Rules of Procedure
Adopted: April 15, 2014
Page 7 of 7
SECTION 22. PURCHASING
Except as otherwise specified herein or as established by resolution of the
Authority Members, the Authority shall comply with all ordinances, resolutions,
rules and regulations of the City in purchasing and contracting for supplies,
services, and equipment.
SECTION 23. RULES DIRECTORY
To the extent not required by State laws, these rules of procedure shall be
considered directory only; and compliance herewith shall not be considered
mandatory or jurisdictional.
21
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