2013-09-17 Joint CC CAFA APIC MinutesMINUTES OF THE SPECIAL JOINT CITY COUNCIL,
CITY OF ALAMEDA FINANCING AUTHORITY (CAFA), AND
ALAMEDA PUBLIC IMPROVEMENT CORPORATION (APIC) MEETING
TUESDAY- - SEPTEMBER 17, 2013- -7:01 P.M.
Mayor /Chair Gilmore convened the meeting at 10:29 p.m.
ROLL CALL - Present: Councilmembers /Authority Members Chen, Daysog,
Ezzy Ashcraft, Tam and Mayor /Chair Gilmore — 5.
Absent: None.
ORAL COMMUNICATIONS, NON - AGENDA
None.
AGENDA ITEM
(13 -417 CC) Public Hearing to Consider Resolution No. 14862, "Approving the Form
and Authorizing the Execution of Certain Lease Financing Documents in Connection
with the Offering And Sale of Certificates of Participation Relating Thereto to Refund the
City's Outstanding 2002 Certificates of Participation (City Hall Refinancing Project) and
to Finance the Costs of Construction of a New City Emergency Operations Center and
Associated Expenses and Authorizing and Directing Certain Actions with Respect
Thereto." Adopted;
(13 -03 CAFA) Resolution No. 13 -03, "Approving the Form and Authorizing the
Execution of Certain Lease Financing Documents in Connection with the Offering and
Sale of Certificates of Participation Relating Thereto to Refund the City of Alameda's
Outstanding 2002 Certificates of Participation (City Hall Refinancing Project) and to
Finance the Costs of Construction of a New City Emergency Operations Center and
Associated Expenses, and Authorizing and Directing Certain Actions with Respect
Thereto." Adopted; and
(13 -03 APIC) Resolution No. 13 -12, "Resolution Approving The Form and Authorizing
the Execution Of a Termination Agreement in Connection with the Refunding by the City
of Alameda of its 2002 Certificates of Participation (City Hall Refinancing Project) and
Authorizing and Directing Certain Actions with Respect Thereto." Adopted.
The Finance Director gave a brief presentation.
Councilmember /Authority Member Tam inquired whether the agenda language was
legally required and whether the language could have been written to be more easily
understood as required by the Sunshine Ordinance.
The Finance Director responded the language on the agenda was legally required;
Joint Meeting
Alameda City Council, City of Alameda Financing
Authority and Alameda Public Improvement Corporation
September 17, 2013
stated Certificates of Participation (COPs) are more complex than general obligation
bonds because the action is actually leasing; going forward, staff will include a clear
summary sentence explaining the action.
The City Attorney stated the formatting will be improved; a blogger mentioned the
Emergency Operations Center (EOC), which is in the title; the language is not hard to
read and understand even though the title is long; listing the actual action is legally
required and particularly important in bond deals; bond counsel has to issue legal
opinions as to whether the action was duly authorized and issued; going forward, a
caption will be added at the top of the title; however, the caption has to be neutral and
fair, without editorial comments; the title is in compliance with the Sunshine Ordinance,
but the title is long and staff will work to ensure language is as easy to understand as
possible.
The Finance Director noted timing is important; stated the City wants to proceed to take
advantage of lower interest rates.
Vice Mayor /Authority Member Ezzy Ashrcraft stated the title is lengthy; however, the
legislation language is very clear; everything is posted on the website.
Mayor /Chair Gilmore stated that she understands the legal requirements; the public
scans agendas to issue spot items which are of interest.
The City Clerk stated the new agenda system allows the public to receive notifications
when a matter of interest is on a meeting; the website includes instructions on how to
set up notifications.
Councilmember /Authority Member Tam stated the Sunshine Ordinance directs being
clear to the average 8th grader.
Councilmember /Authority Member Chen inquired what is the estimate to build the EOC.
The City Manager responded $3 million will pay for the EOC, but does not pay for Fire
Station 3.
The Assistant City Manager stated the EOC estimate is $2.8 million, which does not
include any contingency.
Councilmember /Authority Member Chen inquired whether adopting the resolution
tonight means an EOC will be built.
The City Manager responded staff would like to start construction in spring 2014.
The Assistant City Manager stated a design contract would be presented at an
upcoming Council meeting.
Joint Meeting
Alameda City Council, City of Alameda Financing 2
Authority and Alameda Public Improvement Corporation
September 17, 2013
Vice Mayor /Authority Member Ezzy Ashcraft moved adoption of the resolutions.
Councilmember /Authority Member Chen seconded the motion, which carried by the
following voice vote: Ayes: Councilmembers /Authority Members Chen, Daysog, Ezzy
Ashcraft and Mayor /Chair Gilmore — 4. Abstention: Councilmember /Authority Member
Tam — 1.
ADJOURNMENT
There being no further business, Mayor /Chair Gilmore adjourned the meeting at 10:43
p.m.
Respectfully submitted,
Lara Weisiger, City Clerk
Secretary, SACIC
The agenda for this meeting was posted in accordance with the Sunshine Ordinance.
Joint Meeting
Alameda City Council, City of Alameda Financing 3
Authority and Alameda Public Improvement Corporation
September 17, 2013