CC/RDA/CUA SPE MIN JUN 12 - Laserfiche WebLink

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SPECIAL MEETING OF THE CITY COUNCIL/REDEVELOPMENT AGENCY/ COLTON UTILITY AUTHORITY OF THE CITY OF COLTON June 12, 2007 A Special Meeting of the City Council/Redevelopment Agency/Colton Utility Authority of the City of Colton was held at 4:35 p.m., on the above -given date in the Council Chambers of City Hall, located at 650 North La Cadena Drive, Colton, California Mayor Chastain presiding. Notice of Special Meeting was given on June 7, 2007, in compliance with Government Code Section 54956. ROLL CALL: Councilmembers present were Suchil, Mitchell, Olivia, De La Rosa (appeared at 4:39 p.m.), Toro, and Mayor Chastain. Also present were City Manager Parrish and City Clerk Padilla. MAYOR AND COUNCIL ITEMS: POSSIBLE CONFLICT OF INTEREST DISCLOSURES FOR THE COUNCIL MEETING OF MARCH 21, 2006. Mayor Chastain -asked the members present if there were any agenda items that were a conflict of interest pursuant to CMC Section 2.04.030. None disclosed. PUBLIC COMMENT: The following citizens addressed the City Council: Pastor Bob Johnson; Frank Gonzales; and Gene Carlstrom. Said Special Meeting shall be for the purpose of studying and or taking action on the following matters: (1) Approve and Adopt a City Resolution and a Colton Public Financing Authority Resolution approving the Issuance of Not -to -Exceed $17 Million Aggregate Principal Amount of Bonds by the Colton Financing Authority, Approving an Installment Purchase Agreement, and Indenture of Trust, a Continuing Disclosure Agreement and a Bond Purchase Contract, Authorizing the Delivery of a Preliminary Official Statement, Authorizing the Execution and Delivery of an Official Statement, Approving the Appointment of a Trustee and Authorizing Certain Actions in Connection Therewith, RESOLUTION NO. R-71-07 AND CPFA RESOLUTION NO. CPFA 2007-02. Jeannette Olko, Electric Utilities General Manager, presented an overview of the agenda item and presented staffs recommendation. Discussion with a motion/second CM Mitchell/De La Rosa to approve and adopt Resolution No. 71- 07. Motion carried. Motion/second CM Mitchell/Olivia to approve and adopt CPFA Resolution No. CPFA-2007-02. Motion carried. (2) Budget Workshop: To discuss the proposed expenditure plans for Fiscal Year 2007/2008 for the following; Department Work Plans