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1988-02-02 ASIFC minutes
REGULARMEETINGOFTHEaOARDOFDIRECTORSOFTHE ALAMEDASEWERIMPROVEMENTFINANCINGCORPORATION HELDTUESDAY--~------FEBRUARY2,1988 TheAlamedacitycouncil,sittingastheBoardofDirectorsofthe AlamedaSewerImprovementFinancingcorporation,convenedat 7:53 p.m.withChairmancoricapresiding. Chairmancoricastatedthemeetingwastoconsiderformationof theAlamedaSewerImprovementFinancingcorporation(ASIFC),in ordertotakeadvantageofthefactthatthecityhasreceiveda grantof$4,700,000fromtheEnvironmentalProtectionAgency(EPA) whichshouldforestallanyincreaseinratesforthecitizensof Alamedaforfiveyears;andrequestedtheLegalCounsel,Brian Quint,toexplaintheintentoftheactionstobetaken. BrianQuint,Jones,Hall,Hill &White,AProfessionalcorporation,explainedthat,onbehalfoftheCity,theASIFChad beencreated;thepurposeofthecorporationisinfUrtheranceof the participationfinancingthatwill be addressedalsobythe citycouncil;thereisaneedfor~nentitytoserveasa conduit;theuseof a non-profitcorporationSuchasthisoneis theleastexpensiverouteforthecitytotake~ndwillprovide additionalflexibilityshouldthecitychoosetousethe corporationforotherprojectsinthefuture;andtheCouncilsitsastheBoardofDirectors. CharlesTillman,2415 RooseveltlJrive,inquiredhowthiswillaffectthesewerfund. The Treasurerstatedthenon-profitcorporationis a separate entityfromtheCity,andinthedocumentsisaprovisionforan annualauditofthecorporationwhichwillnot.beinclUdedinthe City'sfinancialstatementbutwill be it separatefinancialreport. Mr.Quint,asincorporator,turnedthemeetingoverto the Chairmanof the BoardoflJirectorstotakeactionregarding thesixresolutions. ChairmancoricacalledfortheRollCall. ROLLCALL Present:Oirectorsaaugner,Thomas,and Presidentcorica-3. OirectorscamiciaandMonsef-2. 88-001ResolutionNo.88-1"Adopting~ylaws."Adopted. DirectorHaugnermade a motiontoadopttheresolution.Oirector Thomassecondedthemotionand it Wa~carriedbyunanimousvoicevote-3. February2,1988 88-002 ResolutionNo.88-2 hEl@ctin~offic@rs~"Adopted. DirectorHaugnermadeamotionto8doptthere~olution.Director ThomassecondedthemotiQnanditwascarriedbyunanimousvoice vote-3. 88-003 ResolutionNo.88-3 "Appointingtimeandplaceofregular meetings."Adopted. Chairmancoricanotedthemeetingswillbeheldannually. DirectorHaugnermadeamotiontoadopttheresolution.Director Thomassecondedthemotionanditwascarriedbyunanimousvoicevote-3. 88-004 ResolutionNo.88-4 "Approving8ndauthorizingexecutionandfilingofexemptionapplicationtoStateFranchiseTaxBoard.hAdopted. DirectorHaugnermadeamotiontoadopttheresolution.Director Thomassecondedthemotionanditwascarri@dbyunanimousvoicevote-3. 88-005 ResolutionNo.88-5 "Approvingandauthorizingexecution andfilingofvariousfederalforms."Adopted. DirectorUaugnermadeamotionto8dopttheresolution.Director Thomassecondedthemotionanditwascarriedbyunanimousvoicevote-3. 88-006 ResolutionNo.88-6 "Approving,authotizing~nddirecting executIonofcertaInInstallment~al~financingdocumentsand authorizinganddirectingcertaih~ctioh~withr~spectthereto."Adopted. DirectorUaugnermadeamotiontoadopttheresolution.Director Thomassecondedthemotionandit Was carried by unanimousvoicevote-3. Themeetingwasadjournedat ~:oo p.m. 01B.FELSCH,CMcsecretary TheagendaforthismeetingwaspostedinadvanceinaccordancewiththeBrownAct. February2,1988