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2001-02-06 APIC minutes
MINUTESOFANNUALALAMEDAPUBLICIMPROVEMENTCORPORATIONMEETING TUESDAY--FEBRUARY6,2001--7:25P.M. ActingChairDewittconvenedtheAnnualMeetingat7:34p.m.Board MemberJohnsonledthePledgeofAllegiance.ReverendJack Buckley,FirstPresbyterianChurch,gavetheInvocation. ROLLCALL-Present:BoardMembersDaysog,Johnson,Kerrand ActingChairDewitt-4. Absent:ChairAppezzato-1. MINUTES (01-01)MinutesoftheAnnualAlamedaPublicImprovement CorporationMeetingofFebruary1,2000. BoardMemberJohnsonmovedapprovaloftheMinutes. BoardMemberKerrsecondedthemotion,whichcarriedbyunanimous voicevote-4.[Absent:ChairAppezzato-1.] AGENDAITEMS None. ORALCOMMUNICATIONS.NON-AGENDA None. BOARDCOMMUNICATIONS None. ADJOURNMENT Therebeingnofurtherbusiness,ActingChairDeWittadjournedthe AnnualMeetingat7:38p.m.Rn:f;l~d' D~eB.Felsch,CMC Secretary,Alameda "ImprovementCorporation. Public TheagendaforthismeetingwaspostedinaccordancewiththeBrown Act. AnnualMeeting AlamedaPublicImprovementCorporation February6,2001 MINUTESOFSPECIALALAMEDAPUBLICIMPROVEMENTCORPORATIONMEETING TUESDAY--FEBRUARY20,2001--7:25P.M. ChairAppezzatoconvenedtheSpecialMeetingat7:41p.m. ROLLCALL Present:BoardMembersDeWitt/Johnson/Kerrand ChairAppezzato-4. Absent:BoardMemberDaysog-1. MINUTES (01-01)MinutesoftheAnnualAlamedaPublicImprovement CorporationMeetingofFebruary6/2001. BoardMemberDeWittmovedapprovaloftheMinutes. BoardMemberJohnsonsecondedthemotion/whichcarriedby unanimousvoicevote-4.[Absent:BoardMemberDaysog-1.] AGENDAITEM (01-02)ResolutionNo.01-10/"ApprovingLeaseandLeasebackof MunicipalPropertyinConnectionwithIssuanceofCertificatesof ParticipationtoRefinancePublicImprovementsbytheCityof Alameda/andApprovingRelatedAgreementsandActions."Adopted. BoardMemberDeWittmovedadoptionoftheResolution. BoardMemberJohnsonsecondedthemotion. Underdiscussion/BoardMemberKerrstatedtheCitywillsaveat least$450/000;inquiredwhether$12Millionwillberefinanced. TheFinanceDirectorrespondedtheamountisnottoexceed$12 Million;somemoneyhastobeplacedintoescrow;savingscomefrom lowerinterestcosts. BoardMemberKerrinquiredwhethertheUtilityUsersTax(UUT)was beingusedtofinancetheCertificatesofParticipation. TheFinanceDirectorrespondedGeneralFundmoneyisusedtopay offCertificates[ofParticipation];theUUTisasourceofGeneral Fund[revenues]andisnotdirectlypledgedtopaythedebt; SpecialMeeting AlamedaPublicImprovementCorporation February20,2001 GeneralFundrevenuesarepledgedtopaythedebt. InresponsetoBoard leased,theFinance CityHallispledged (APIC);APICissues serviceasrent. MemberKerr'sinquiryregardingwhatisbeing Directorrespondedthereisaleasebecause totheAlamedaPublicImprovementCorporation thedebtandtheCitypaysAPICthedebt BoardMemberKerrinquiredwhetherthereareanynewusesplanned forthemoney. TheFinanceDirectorrespondedbondsarebeingrefinanced;projects havebeencompleted;newprojectsarenotanticipated;the refinancingissimplytorealizelowerinterestcosts. BoardMemberJohnsonnotedupto$650,000willbesavedoverthe lifeofthedebt. Onthecallforthequestion,themotioncarriedbyunanimousvoice vote-4.[Absent:BoardMemberDaysog-1.] ADJOURNMENT Therebeingnofurtherbusiness,ChairAppezzatoadjournedthe SpecialMeetingat7:45p.m. Respectfullysubmitted, DianeB.Felsch,CMC Secretary,Alameda ImprovementCorporation Public TheagendaforthismeetingwaspostedinaccordancewiththeBrown Act. SpecialMeeting AlamedaPublicImprovementCorporation February20,2001