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THE RECAP REFLECTS A BRIEF SUMMARY OF THE COUNCIL ACTIONS, HOWEVER,
                                        IT DOES NOT REFLECT THE OFFICIAL ACTIONS OF THE COUNCIL WHICH WILL BE REFLECTED IN THE OFFICIAL MINUTES.        

To comply with the Americans with Disabilities Act of 1990, Assistive Listening Devices are available at all Pasadena City Council meetings.  
Assistive Listening headphones and neck loops can be checked out at the desk of the Sergeant-at-Arms, located inside the City Council Chambers. 

                                                                               

CITY OF PASADENA
NOTICE OF SPECIAL JOINT MEETING
OF THE CITY COUNCIL AND
THE PASADENA PUBLIC FINANCING AUTHORITY
FEBRUARY 9, 2015
PUBLIC MEETING: 5:00 P.M.
PASADENA CITY HALL, COUNCIL CHAMBER
100 NORTH GARFIELD AVENUE, ROOM S249
 

NOTICE IS HEREBY GIVEN that a special joint meeting of the City Council and the Pasadena Public Financing Authority will be held on Monday, February 9, 2015, at 5:00 p.m. in the Pasadena City Hall, Council Chamber, 100 North Garfield Avenue, Room S249, to discuss the following:    

1.       ROLL CALL AND PLEDGE OF ALLEGIANCE 

2.       FINANCE COMMITTEE: ADOPTION OF A RESOLUTION AUTHORIZING THE ISSUANCE OF ONE OR MORE SERIES OR SUBSERIES OF CITY OF PASADENA PENSION OBLIGATION REFUNDING BONDS, APPROVING THE FORM OF AND AUTHORIZING THE EXECUTION OF TRUST AGREEMENT SUPPLEMENTS PROVIDING FOR SUCH ISSUANCE, AND AUTHORIZING CERTAIN OTHER MATTERS RELATED THERETO
Recommendation:
(1)      Find that the proposed action is not a project subject to the California Environmental Quality Act (CEQA), as defined in Section 21065 of CEQA and Section 15378 of the State CEQA Guidelines and, as such, no environmental document pursuant to CEQA is required for the project;
(2)      Adopt a resolution authorizing the issuance of one or more series or subseries of City of Pasadena Pension Obligation Refunding Bonds; and approving the form of and authorizing the execution of Trust Agreement Supplements by the Director of Finance with The Bank of New York Mellon Trust Company, N.A. providing for such issuance, and authorizing certain other matters relating hereto;
(3)      Grant the proposed Trust Agreement Supplements an exemption from the competitive selection process, pursuant to Pasadena Municipal Code (PMC) Section 4.08.049(B).  Competitive Bidding is not required, pursuant to City Charter Section 1002(F), contracts for professional or unique services;
(4)      Approve a contract with Urban Futures, as Financial Advisor in an amount of $50,000, and authorize the Director of Finance to execute the agreement.   Competitive Bidding is not required, pursuant to City Charter Section 1002(F), contracts for professional or unique services; and
(5)      Approve contracts with Bank of America Merrill Lynch and Raymond James, as underwriters, remarketing agents, and/or placement agents for the proposed refunding bonds at a discount rate (fee) not to exceed 0.30% of the bonds.   Competitive Bidding is not required, pursuant to City Charter Section 1002(F), contracts for professional or unique services. 

285k

RESOLUTION 302k

ATTACHMENT 1 2350k

ATTACHMENT 2 2349k

ACTION:  APPROVED STAFF RECOMMENDATION

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 and Pasadena Public Financing Authority (PPFA):
(1)      Find that the proposed action is not a project subject to the California Environmental Quality Act (CEQA), as defined in Section 21065 of CEQA and Section 15378 of the State CEQA Guidelines and, as such, no environmental document pursuant to CEQA is required for the project; and
(2)      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 0.34% annual fee for a term of three years, and authorize the Pasadena Public Financing Authority (PPFA) Executive Director/CityManager or the PPFA Treasurer/Director of Finance or any duly authorized designee thereof to execute and deliver an amendment to the Reimbursement Agreement, the Fee Letter, and any and all such other documents, certificates, and agreements necessary or desirable, including if applicable, any amendments to the Remarketing Agreement and the Official Statement relating to the COPs that may be required by the bank or the remarketing agent in connection therewith, in order to effect the extension of the Letter of Credit on substantially the terms set forth in the Summary of Terms and Conditions (Attachment A of the agenda report), with such additions and changes thereto as shall be approved by the officer executing such amendment to the Reimbursement Agreement. 

169k

ATTACHMENT A 395k

ACTION:  APPROVED STAFF RECOMMENDATION

4.       ADJOURNMENT    

                                                                                    ___________________________
                        Bill Bogaard, Mayor
                        City of Pasadena
 

 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 5^th day of February, 2015, at 5:00 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, CMC
                                                                                    City Clerk
 

Note to the public:    Public comment is limited to items on this special joint meeting agenda.  An opportunity for public comment on items on the agenda will be provided when the items are discussed.  Please limit comments to no more than 3 minutes each.  

DISTRIBUTION:

City Council                                         Pasadena Star News

City Manager                                      Pasadena Weekly

City Attorney                                       La Opinion

Public Information Officer                  Pasadena Journal

Central Library                                    Los Angeles Times

Neighborhood Connections              Pasadena Now           

 

            In compliance with the Americans with Disabilities Act of 1990,
Assistive Listening Devices are available at all Pasadena City Council meetings. 
Assistive Listening headphones and neckloops can be checked out at the desk of the
Sergeant-at-Arms, located inside the City Council Chambers.  

   

Language translation services are available for this meeting by calling
(626)744-4124 at least 24 hours in advance.
Habrá servicio de interpretación disponible para éstas juntas llamando al
(626)744-4124 por lo menos con 24 horas de anticipación.