MINUTES OF THE SAN JOSÉ CITY COUNCIL
SAN JOSÉ FINANCING AUTHORITY JOINT MEETING
SAN JOSE, CALIFORNIA TUESDAY,
JUNE 27, 2000
The Council of the City of San Jose convened in Adjourned Regular Session at 4:58 p.m. to consider Items 2 and 3 in a joint meeting with the San José Financing Authority.
Present: Council Members - Chavez, Dando, Diquisto, Fiscalini, LeZotte, Matthews; Powers, Gonzales.
Absent: Council Members – Diaz, Shirakawa, Jr., Woody (all excused).
ORDERS OF THE DAY
Upon motion by Vice Mayor Fiscalini, seconded by Council Member Powers, and unanimously carried, the Orders of the Day and the Amended Agenda were approved. Vote: 8-0-3-0. Absent: Diaz, Shirakawa, Jr., Woody.
2 (a) Adoption
of a resolution approving the Source and Use of Funds for FY 2000-01 for the
Hayes Mansion Trust Fund including the budget and appropriation of debt service
for the City of San José Financing Authority 1995 Lease Revenue Taxable Series
A Bonds and the 1995 Lease Revenue Tax-Exempt Series B Bonds.
(b) Adoption
of a resolution expanding the allowable uses of the Hayes Mansion Trust Fund,
Interest Reserve Account to include the prepayment of principal on the Bonds to
the extent the balance is maintained at $1,500,000.
(Finance)
Documents filed: Memorandum from Acting Director of Finance, Mark Burton, dated June 5, 2000, recommending adoption of said resolutions.
Discussion/Action: William J. Garbett spoke in opposition to the proposal. Upon motion by Vice Mayor Fiscalini, seconded by Council Member Powers, and unanimously carried, Resolution No. SJFA-42, entitled: “A Resolution of the City of San José Financing Authority Approving the Sources and Uses of Funds for FY2000-01 for the Hayes Mansion Trust Fund”; and Resolution No. SJFA-43, entitled: “A Resolution of the City of San José Financing Authority Expanding the Allowable Uses of the Hayes Mansion Trust Fund”, were adopted. Vote: 8-0-3-0. Absent: Diaz, Shirakawa, Jr., Woody.
3 (a) Adoption of a resolution of the City of San José Financing Authority amending resolution number SJFA-40 to increase the maximum initial aggregate principal amount for the Tuers-Capitol Golf Course and Camden Park Refunding project by $1.5 million, from $22 million to $23.5 million.
(b) Adoption of a resolution by the City Council acknowledging the San José Financing Authority’s increase in the maximum authorized initial aggregate principal amount for the Tuers-Capitol Golf Course and Camden Park Refunding Project by $1.5 million, from $22 million to $23.5 million.
(Finance)
Documents filed: Memorandum from Acting Director of Finance, Mark Burton, and Director of Public Works, Ralph A. Qualls, Jr., dated June 22, 2000, recommending adoption of said resolution.
Discussion/Action:
William J. Garbett spoke in opposition to the proposal. Upon motion by Vice Mayor Fiscalini, seconded by Council Member Powers,
and unanimously carried, Resolution No. SJFA-44, entitled: “A Resolution
of the San José Financing Authority Amending Resolution Number SJFA-40 to
Increase the Maximum Initial Aggregate Principal of its Lease Revenue Bonds
Series 2000B (Tuers-Capitol Golf Course/Camden Park Refunding Project)”; and Resolution No. 69796, entitled: “A Resolution of the Council of the City
of San José Acknowledging the Increase in Authorized Maximum Initial Aggregate
Principal of Lease Revenue Bonds for the Tuers-Capitol Golf Course and Camden
Park Refunding Project”, were adopted. Vote: 8-0-3-0-. Absent: Diaz, Shirakawa, Jr., Woody.
ADJOURNMENT
The Joint City Council/San José Financing Authority Board meeting was adjourned at 5:00 p.m.
RON GONZALES, MAYOR
ATTEST:
PATRICIA L. O’HEARN
CITY CLERK