HomeMy WebLinkAbout07/24/2001 - Public FacilitesNEWPORT BEACH PUBLIC FACILITIES CORPORATION
MINUTES
July 24, 2001
1. CALL THE MEETING TO ORDER.
The meeting was called to order by Mayor Adams at 4:30 p.m. The roll call was as follows:
Present: Heffernan, O'Neil, Ridgeway, Bromberg, Proctor, Mayor Adams
Absent: Glover (excused)
2. ELECTION OF OFFICERS.
Motion by Council Member O'Neil to elect the Mayor as Chairperson, the Mayor Pro Tern
as Vice- Chairperson, the Council Members as Board of Directors, the City Manager as
Secretary, and the Administrative Services Director as Treasurer of the Corporation for the
2001.2002 fiscal year.
The motion carried by the following roll call vote:
Ayes: Heffernan, O'Neil, Ridgeway, Bromberg, Proctor, Mayor Adams
Noes: None
Abstain: None
Absent: Glover
3. NEWPORT BEACH PUBLIC FACILITIES AUTHORITY FINANCIAL REPORT.
City Manager Bludau reported that the staff report provides a background relative to the
Cannery Village Certificates of Participation (COP). He noted that the COP was for the
construction of the Central Library for $7.5 million. He stated that the annual debt for the
Library COP is about $560,000 and the current outstanding principal balance is $6.6 million.
Mr. Bludau pointed out that the bylaws call for an annual meeting of the Board of Directors.
For the record, Council Member Glover arrived at the meeting.
Dolores Otting distributed copies of the Authority's bylaws. She stated that page 5 indicates
that the annual meetings are to be held on the second Monday of July and suggested
changing the bylaws to match Council's schedule. City Attorney Burnham stated that they
will bring this back before the Board.
Motion by Council Member O'Neil to receive and file the Financial Report.
The motion carried by the following roll call vote:
Ayes: Heffernan, O'Neil, Ridgeway, Glover, Bromberg, Proctor, Mayor Adams
Noes: None
Abstain: None
Absent: None
4. PUBLIC COMMENTS — None.
5. ADJOURNMENT — 4 :40 p.m.