HomeMy WebLinkAbout07/09/2002 - Public FacilitesNEWPORT BEACH PUBLIC FACILITIES AUTHORITY
MINUTES
July 9, 2002
1. CALL THE MEETING TO ORDER.
The meeting was called to order by Mayor Ridgeway at 4:05 p.m. The roll call was as follows:
Present: Heffernan, Bromberg, Adams, Proctor, Mayor Ridgeway
Absent: O'Neil, Glover
2. ELECTION OF OFFICERS.
Motion by Council Member Adams to elect the Mayor as Chairperson of the Authority,
the Mayor Pro Tem as Vice- Chairperson of the Authority, the Council Members as the
Authority's Board of Directors, the City Manager as the Authority's Secretary, and the
Administrative Services Director as the Authorityy's Treasurer for the 2002 -2003 fiscal year.
The motion carried by the following roll call vote
Ayes: Heffernan, Bromberg, Adams, Proctor, Mayor Ridgeway
Noes: None
Abstain: None
Absent: O'Neil, Glover
3. NEWPORT BEACH PUBLIC FACILITIES AUTHORITY FINANCIAL REPORT.
Administrative Services Director Danner reported that the current outstanding principal
balance of the Library Certificates of Participation (COPS) is $6,365,000 and the debt service
totals $255,000. He stated that this will leave an outstanding balance of $6,110,000 at the
end of the current fiscal year.
Motion by Council Member Adams to receive and file the Financial Report.
The motion carried by the following roll call vote
Ayes: Heffernan, Bromberg, Adams, Proctor, Mayor Ridgeway
Noes: None
Abstain: None
Absent: O'Neil, Glover
4. PUBLIC COMMENTS — None.
5. ADJOURNMENT — 4:10 p.m.