HomeMy WebLinkAboutRDA 00 AGENDA 06-01-98 AGENDA REGULAR MEETING OF THE TUSTIN COMMUNITY REDEVELOPMENT AGENCY JUNE 1, 1998 CALL TO ORDER ROLL CALL REGULAR BUSINESS (ITEMS I THROUGH 3)' 1. APPROVAL OF MINUTES- MAY 18, 1998 REGULAR MEETING Recommendation: Approve the Redevelopment Agency Minutes of May 18, 1998. 2. APPROVAL OF DEMANDS Recommendation: Approve Demands in the amount of $197,152.95. PROPOSAL TO REFINANCE OUTSTANDING 1987 AND ~1991 TOWN CENTER PROJECT AREA TAX ALLOCATION BONDS The City has received an unsolicited proposal from John Nuveen and Company, Inc., Investment Bankers, to refund certain portions of the outstanding 1991 Tax Allocation Bonds for a present value savings of 8.36%, $1,057,000. Recommendation by the Finance Director:. 1. Authorize staff to proceed with the proposal for refunding the outstanding 1987 and 1991 Tax Allocation Bonds. 2. Authorize the Finance Director to enter into an agreement with Public Financial Mahagement, Inc. to provide services outlined in the subject proposal. . Select Quint & Thimmig, LLP as Bond Counsel/Disclosure Counsel and to provide services as outlined in their letter dated May 21, 1998. . Authorize staff and the Agency's consultants to negotiate directly with John Nuveen and Company, Inc., Investment Bankers, to refinance referenced bonds. If staff cannot come to an agreement on price, staff will proceed with alternatives as recommended by members of the financing team and report back to the Agency at the first available meeting. Agenda - Redevelopment Agency June 1, 1998 - Page 1 OTHER BUSINESS CLOSED SESSION None ADJOURNMENT The next scheduled for Monday, June 15, Centennial Way. regular meeting of 1998, at 7:00 p.m. the Redevelopment Agency is in the Council Chambers at 300 Agenda - Redevelopment Agency June 1, 1998 - Page 2