RA 07-20-92TOWN OF LOS GATOS
CALIFORNIA
REDEVELOPMENT AGENCY
July 20, 1992
Minutes
REDEVELOPMENT AGENCY
The Redevelopment Agency of the Town of Los Gatos met in the Council Chambers of Town
Hall, 110 E. Main St., at 10:12 p.m., Monday, July 20, 1992, in regular session.
ROLL CALL
Present:Randy Attaway, Joanne Benjamin, Steven Blanton,
Brent N. Ventura and Chairman Eric D. Carlson.
Absent:None.
HEARING
PARKING LOT 4/CERTIFICATES OF PARTICIPATION (01.49)
RESOLUTION 1992-7RD/PUBLIC HEARING
Chairman Carlson stated that this was the time and place duly noted for public hearing to
consider adoption of resolution authorizing and approving financial participation by the
Agency in construction of Parking Lot 4, approving, authorizing and directing execution of
certain lease financing documents and authorizing and directing certain actions with respect
thereto.
The following people from the audience spoke to this issue:
Emily Wagner, representative of Miller and Schroeder Financial of Pleasanton, California,
Town's Financial Advisor, explained the financial climate that these bonds will exist in due to
the collateralizing of the motor vehicle license fees within the general fund and the
participation of the Redevelopment Agency offsetting any risk that may arise in current
market environment.
David Oster, representing Jones Hall Hill and White, Legal Counsel for the Redevelopment
Agency, expressed the opinion that issuing certificates of participation is a standard way of
Towns and Agencies to cooperate in a financing package.
No one else from the audience addressed the Agency on this issue.
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Motion by Mr. Attaway, seconded by Mr. Blanton, to close the public hearing. Carried
unanimously.
Motion by Mr. Attaway, seconded by Mr. Blanton, that the Agency adopt Resolution
1992-7RD entitled, RESOLUTION OF THE TOWN OF LOS GATOS REDEVELOPMENT
AGENCY AUTHORIZING AND APPROVING FINANCIAL PARTICIPATION BY THE
AGENCY IN CONSTRUCTION OF PARKING LOT 4, APPROVING, AUTHORIZING AND
DIRECTING EXECUTION OF CERTAIN LEASE FINANCING DOCUMENTS AND
AUTHORIZING AND DIRECTING CERTAIN ACTIONS WITH RESPECT THERETO.
Carried unanimously.
MINUTES OF JULY 6, 1992
Motion by Mr. Attaway, seconded by Mr. Blanton, to approve the minutes of July 6, 1992
as submitted. Carried by a vote of 4 ayes. Chairman Carlson abstained.
ADJOURNMENT
Motion by Mr. Attaway, seconded by Mr. Blanton, to adjourn this evening's meeting at
10:26 p.m. Carried unanimously.
ATTEST:
Marian V. Cosgrove
Secretary to the Redevelopment Agency
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