HomeMy WebLinkAbout06/16/1992, 8 - ANNUAL MEETING OF THE CAPITAL IMPROVEMENT BOARD Original agenda report f-om the meeting of 6/1/92.
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COUNCIL AGENDA REPORT STEM NUMBER:
FROM: William C. Statler, Director of Finance
Prepared by: Linda Asprion, Revenue Manager
SUBJECT: ANNUAL MEETING OF THE CAPITAL IMPROVEMENT BOARD
CAO RECOMMENDATION
1. Approve minutes of meeting held on November 20, 1990.
2. Elect officers for the Capital Improvement Board, including
President and Vice President.
3. Adjourn to the next regularly scheduled meeting.
DISCUSSION
In June 1986, the City of San Luis Obispo Capital Improvement Board
was established as a public authority to implement required
financing for construction and improvement to various public
facilities. The City Council serves as the Board of Directors for
this agency. The By-laws governing the conduct of business by the
Board requires that an annual meeting be held on the first Tuesday
in June of each year. In accordance with the By-laws, the
following agenda has been established for tonights meeting.
I. Meeting called to order.
II. Roll Call.
i
III. Board consideration of minutes from November 20, 1990.
Draft minutes for the Board's approval are attached.
IV. Election of Officers. In keeping with past practice, it is
recommended that the Mayor serve as President and that the
Vice-Mayor serve as Vice-President.
VI. Adjournment to the next regularly scheduled meeting.
Annual Financial Reports
Section 3.42. 050 (D) of Ordinance 1059 creating the Capital
Improvement Board requires that the Board annually prepare and make
available to interested members of the public a statement of its
financial affairs, audited by independent certified public
accountants. Acting as the City Council, Board members received
and filed audited financial statements on January 21, 1992 which
encompasses the fiscal affairs of the Board for the fiscal year
ending June 30, 1991. Accordingly, this requirement has been met
for fiscal year 1990-91.
ATTACHMENT
Minutes from November 20, 1990 meeting. v,/
MINUTES
SPECIAL MEETING OF THE CAPITAL IMPROVEMENT BOARD
CITY OF SAN LUIS OBISPO
TUESDAY, NOVEMBER 20, 1990- 7:00 PM
VETERANS MEMORIAL BUILDING, 801 GRAND AVENUE
SAN LUIS OBISPO, CALIFORNIA
ROLL CALL:
CAPITAL IMPROVEMENT
BOARD:
Present: Directors Peg Pinard, Penny Rappa,Jerry Reiss, and President Ron Dunin
Absent: None
OFFICERS:
Present: John Dunn, Executive Director, Bill Stader, Chief Financial Officer, Sim Condon,
Acting Secretary
Absent: Pam Voges, Secretary
1. PROJECT FINANCING (File No.213)
The Capital Improvement Board considered approving the sale of$45 million in Certificates of Participation
in order to finance approved projects. The projects to be financed are:
1. Fire Station #1 Site Acquisition;
2. General Fund Share of the Recreation Center Rehabilitation; and
3. Impending Open Space and Parkland Acquisitions.
Moved by Roalman/Pinard. (5-0), Capital Improvement Board Resolution Nos. 107 and 108 of the Board of
Directors of the Capital Improvement Board adopted approving the sale of Certificates of Participation in the
amount of$45 million as recommended.
8:55 p.m,there being no further business to come before Board,President Dunin adjourned the meeting to the
Annual Meeting of the Capital Improvement Board to be held the fust Tuesday in June of 1991. (Doe to the
lack of a quorum,the Capital Improvement Board did not meet on June 4,1991.) The minutes were recorded
by Sim Condon,Acting Secretary.
APPROVED:
Pam Voges, Secretary
REGULAR MEETING OF THE CITY COUNCIL
JUNE 16, 1992
ADD-ON BUSINESS ITEM
9. STATE FISCAL CRISIS (DUNN/1112)
Consideration of a resolution concerning the State's fiscal crisis and its financial
impact on the cities of San Luis Obispo County.
RECOMMENDATION: Adopt resolution as recommended
NOTE: This item will be considered after Item #7 and before the Council adjourns to its
meeting of the Capital Improvement Board.