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