HomeMy WebLinkAbout05-26-1998 - Public FacilitiesNEWPORT BEACH PUBLIC FACILITIES CORPORATION
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May 26, 1998
1. Call the meeting to order.
The meeting was called to order by Mayor Edwards at 5:30 p.m. The roll call
was as follows:
Present: Debay, Noyes, Glover, Mayor Edwards
Absent: Hedges, O'Neil, Thomson
2. Election of Officers.
Motion by Mayor Edwards to elect the Mayor as Chairperson, Council
Member Glover as Vice - Chairperson, the City Manager as Secretary, and the
Administrative Services Director as the Treasurer of the Corporation for the
1998 -99 fiscal year. Without objection, the motion carried by
acclamation.
3. Refinancing of Certificates of Participation.
City Manager Murphy stated that the report before the City Council was
reviewed by the Finance Committee. City Manager Murphy stated that,
based on a review of current interest rates, it would be in the City's best
interest to refinance, thus producing annual savings for the City.
Motion by Mayor Edwards to authorize refinancing, subject to market
conditions. Without objection, the motion carried by acclamation.
4. Adjourn - 5:35 p.m.