CITY OF PASADENA

NOTICE OF SPECIAL MEETING

OF THE PASADENA PUBLIC FINANCING AUTHORITY

MARCH 22, 2010

 

 

 

NOTICE IS HEREBY GIVEN that a Special Meeting of the Pasadena Public Financing Authority of the City of Pasadena is called for Monday, March 22, 2010, at    6:30 p.m., City Hall Council Chamber, 100 North Garfield Avenue, Room S249, Pasadena,  CA, to conduct the following business:  

           

(1)       CALL TO ORDER

 

(2)       APPROVAL OF MINUTES – FEBRUARY 23, 2010

 

(3)       JOINT ACTION: EXTENSION OF BANK OF AMERICA LETTER OF CREDIT RELATED TO THE VARIABLE RATE DEMAND REFUNDING CERTIFICATES OF PARTICIPATION, SERIES 2008A (CONFERENCE CENTER PROJECT)

            Recommendation:  It is recommended that the City Council/Pasadena Public Financing Authority approve the extension of the existing Bank of America Letter of Credit related to the City’s Variable Rate Demand Refunding Certificates of Participation, Series 2008A (COPs) at a 0.95% annual fee for a term of two years and authorize the Executive Director or the Treasurer of the Authority or any duly authorized designee thereof to execute and deliver an amendment to the Reimbursement Agreement and any and all such other documents, certificates and agreements necessary or desirable, including, if applicable, any amendments to the Remarketing Agreement relating to the COPs that may be required by the Bank in connection therewith, in order to effect the extension of the Letter of Credit on substantially the terms set forth in Attachment A of the agenda report, “Summary of Terms and Conditions” with such additions and changes thereto as shall be approved by the officer executing such amendment to the Reimbursement Agreement.

            Recommendation of Pasadena Center Operating Company (PCOC) Finance Committee:  This item was presented to the PCOC Finance Committee on March 16, 2010 as information only. No formal action was taken.

1441k

 

 

(4)       ADJOURNMENT

 

 

                                    ___________________________

Bill Bogaard, Chair

Pasadena Public Financing Authority

 

 

 

Note to Public: An opportunity for public comment will be provided at the time each of the above items are discussed.  Public comment for this special
meeting is limited to the items on this special meeting notice.  Please limit comments to 3 minutes per speaker.

 

 

I HEREBY CERTIFY that this notice, in its entirety, was posted on the Internet at www.cityofpasadena.net/councilagendas and on the Council Chamber Bulletin Board, Room S249 and the Bulletin Board in the rotunda area, City Hall, 100 North Garfield Avenue, and a copy was distributed to Central Library for posting this 18th day of March, 2010, at 5:30 p.m., and that copies hereof were faxed, emailed or delivered to each member of the City Council and to each local newspaper of general circulation, radio or television station requesting notice in writing, all of which recipients are identified on the distribution list set forth herein below.

 

 

 

 

_____________________________

Mark Jomsky

Secretary

 
 

DISTRIBUTION:                                                                                                      

City Council/Pasadena Public Financing Authority                  Pasadena Journal

City Manager/Executive Director                                              La Opinion

City Attorney                                                                            Main Library

Public Information Officer                                                        Los Angeles Times

The Pasadena Weekly                                                             Star News