Title
Consider adopting a resolution of the Monterey County Financing Authority establishing a regular meeting schedule.
Report
RECOMMENDATION:
It is recommended that regular meetings of the Monterey County Financing Authority be scheduled on the second (2nd) and fourth (4th) Tuesdays of every month at 9:00 a.m., beginning on May 22, 2018, by adopting the following:
1. Resolution No. ___-___ - Resolution of the Monterey Financing Authority establishing a regular meeting schedule and providing for matters related thereto.
SUMMARY / DISCUSSION:
It is anticipated that in the very near future the Authority will be asked to consider issuing bonds to refinance the Authority’s July 30, 2008 Revenue Bonds for the Salinas Valley Water Project. As of January 1, 2010, California Government Code (the “Code”) Section 6592.1 requires that a resolution authorizing bonds or any issuance of bonds or accepting the benefit of any bonds or the proceeds of bonds shall be adopted by the Authority only during a regular meeting held pursuant to Section 54954 of the Code. It is now advisable for the Authority to establish a more frequent regular meeting schedule.
Resolution No. ___-___ provides for the establishment of regular meetings. (Attachment 2)
OTHER AGENCY INVOLVEMENT:
None.
FISCAL IMPACT:
There is no fiscal impact in setting regular meeting schedule.
Prepared by: Cathy Paladini, Secretary, (831)755-4860
Approved by: ___________________________________________
David E. Chardavoyne, Executive Director (831) 755-4860
ATTACHMENT:
1. Notice of Special Meeting/Call for Special Meeting
2 Resolution