HomeMy WebLinkAboutAGENDA TPFA SP. MTG. 10-15-01 AGENDA
SPECIAL MEETING OF THE TUSTIN PUBLIC FINANCING AUTHORITY
OCTOBER 15, 2001
CALL TO ORDER
ROLL CALL
REGULAR BUSINESS (ITEM 1 )
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TUSTIN PUBLIC FINANCING AUTHORITY REVENUE BONDS (TUSTIN RANCH)
SERIES E
In 1985 and 1986 the City created Assessment Districts 85-1 and 86-2 for the purpose of
providing a tax exempt financing vehicle for constructing the infrastructure necessary for
the build-out of Tustin Ranch. In February of 1986 the City Council approved the
formation of the Tustin Public Financing Authority to facilitate the reorganization ,of
Assessment Districts 85-1 and 86-2, and the concurrent refinancing of the outstanding
debt of the two Districts into Reassessment District 95-1, made up of owner occupied
residential property with fixed rate bond assessments, and Reassessment District No. 95-
2, made up of commercial and vacant parcels with variable rate assessments. In keeping
with the City Council's policy as stated in the East Tustin Development Agreement, as
vacant parcels are developed as owner occupied residential property, the variable rate
debt is converted to fixed rate debt for the remaining life of the original issue and the
parcels become part of Reassessment District 95-1.
Recommendation by the Finance Director:
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Adopt the following Resolution No. TPFA 01-01'
RESOLUTION NO. TPFA 01-01 -A RESOLUTION OF THE BOARD OF
DIRECTORS OF THE TUSTIN PUBLIC FINANCING AUTHORITY
AUTHORIZING THE ISSUANCE OF NOT TO EXCEED $2,245,000
AGGREGATE PRINCIPAL AMOUNT OF TUSTIN PUBLIC FINANCING
AUTHORITY REVENUE BONDS (TUSTIN RANCH), SERIES E,
APPROVING THE EXECUTION AND DELIVERY OF A FOURTH
SUPPLEMENTAL INDENTURE OF TRUST AND BOND PURCHASE
AGREEMENTS AND THE PREPARATION OF AN OFFICIAL STATEMENT
AND OTHER MATTERS RELATED THERETO
,
Adjourn the Tustin Public Financing Authority meeting and reconvene as the City
Council.
ADJOURNMENT
Agenda - Tustin Public Financing Authority October 15, 2001 - Page 1