Minutes 2002 1021 - Laserfiche WebLink

Home

MINUTES Page 7 City of San Leandro City Council, San Leandro Redevelopment Agency, and S.lll Leandro I'uhlic l'inaneing Authority Joint Meeting----October 21, 2002 Council Member Santos commented on the [unds not being available for a [ew years, the use of the funds in the downtown, and potential savings with lower-than-estimated bids. He asked that, should additional funds become available, they be used in the project area. Council Member Grant requested clari IIcation on the difference between $19 mi II ion versus $17 million issuance as well as the senior positioning, as noted in the report. Assistant City Manager Schilling reported the $] 9 million as a limit that will not be exceeded and noted the maximum interest rate. The following Resolutions were then introduced: . Resolution No. 2002-017, resolution of the Redevelopment Agency of the City of San Le,mdro authorizing the issuance of not to exceed $19,000,000 aggregate principal amount of Plaza Redevelopment Project Tax Allocation Bonds, Series 2002, approving and authorizing and directing execution of Indenture of Trust relating thereto, authorizing sale of such bonds, approving Official Statement, and providing other matters properly relating thereto (provides [or the issuance of bonds for improvements to the Plaza Redevelopment Project area and execution of bond documents). (2937) M/S/C Grant and Badger. Ayes: 7; Noes: 0 . Resolution No. 2002-149, resolution of the City Council of the City of San Leanclro approving the issuance by the Redevelopment Agency of the City of San Leandro of not to exceed $19,000,000 aggregate principal amount of Redevelopment Agency of the City of San Leandro Plaza Redevelopment Project Tax Allocation Bonds, Series 2002, and providing other matters properly relating thereto (provides approval of the issuance of bonds by the Redevelopment Agency for improvements to the Plaza Redevelopment Project area). Cost $19,000,000. Funding Source: Reclevelopment Agency. (2937) M/S/C Grant and Badger. Ayes: 7; Noes: 0 . Resolution No. 2002-002, resolution of San Leandro Public Financing Authority authorizing the purchase and sale of not to exceed $19,000,000 principal amount of Redevelopment Agency ofthe City of San Leandro Plaza Redevelopment Project Tax Allocation Bonds, Series 2002, upon certain tenns and conditions, approving distribution of Official Statement relating thereto, and providing other matters properly relating thereto (provides for the purchase and sale of bonds of the Redevelopment Agency for improvements to the Plaza Redevelopment Project area and distribution of the 01lieial Statement). (2937) M/S/C Nardine and Loeffler. Ayes: 7; Noes: 0