CDC - Agenda 02-14-06AGENDA
REGULAR MEETING
ROSEMEAD COMMUNITY DEVELOPMENT COMMISSION
CITY HALL CONFERENCE ROOM
ROSEMEAD, CALIFORNIA
FEBRUARY Id, 2006, AT 7:00 P.M.
CALL MEETING TO ORDER: 7:00 P.M. OR AS SOON THEREAFTER AS POSSIBLE
PLEDGE TO TILE FLAG: COMMISSIONER NUNEZ
INVOCATION: COMMISSIONER TRAN
ROLL CALL OF OFFICERS: COMMISSIONERS CLARK, NUNEZ, TRAN, VICE-
CHAIRMAN TAYLOR, CHAIRMAN IMPERIAL
APPROVAL OF MINUTES: NONE
RESOLUTION NO. 2006-04- CLAIMS AND DEMANDS
Recommendation: Adopt Resolution No. 2006-04 - for payment of
Commission expenditures.
2. APPROVAL OF PLANS AND SPECIFICATIONS AND AUTHORIZATION
TO SEEK BIDS FOR INSTALLATION OF A TRAFFIC SIGNAL AT DEL
MAR AVENUE AND HIGHCLIFF AVENUE AND AT GRAVES AVENUE
AND JACKSON AVENUE
This project provides for the installation of a new traffic signal at Del Mar
Avenue and Higheliff Avenue and at Graves Avenue and Jackson Avenue.
Recommendation: Approve the plans and specifications and authorize
advertisement for bids by the Agency Secretary.
3. ADOPTION OF RESOLUTIONS AUTHORIZING THE ISSUANCE OF TAX
ALLOCATION BONDS, SERIES 2006 AND THE EXECUTION OF
RELATED DOCUMENTS TO REFUND EXISTING BONDS AND
GENERATE NEW MONEY PROCEEDS, AND AUTHORIZING CREATION
OF AND CERTAIN ACTIONS OF THE ROSEMEAD FINANCING
AUTHORITY
At its November 8, 2005 meeting, the CDC selected the firm of Piper Jaffray to
serve as senior managing underwriter and authorized staff to pursue the refunding
of the Series 1993 "Pax Allocation Bonds. Based on the market condition of
January 27, 2006, the Commission can refund $9.335 million of its outstanding
1993A Bonds. In addition, the Commission can generate approximately $5.67
million in new money for eligible capital projects.
Recommendation: It is recommended that the Community Development
Commission adopt Resolution No. 2006-02 to effect the execution and delivery of
bonds and adopt Resolution No. 2006-03 to form the Rosemead Financing
Authority.
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4. MATTERS FROM OFFICIALS
5. ORAL COMMUNICATIONS FROM THE AUDIENCE ON
COMMUNITY DEVELOPMENT COMMISSION MATTERS
6. ADJOURNMENT
THE NEXT REGULAR MEETING IS SCHEDULED FOR FEBRUARY 28, 2006, AT 7:00
P.M.
Upon request, this agenda will be made available in appropriate alternative formats to persons
with disabilities, as required by Section 202 of the Americans with Disabilities Act of 1990. Any
person with a disability who requires a modification or accommodation in order to participate in
a meeting, should direct such request to the City Clerk's office at 626/569-2171 at least 48 howl
before the meeting, if possible.
Posted 72 hours in advance of the meeting at City Hall, 8838 E. Valley Boulevard, Rosemead;
the L.A. County Library, Rosemead Branch, 8800 E. Valley Boulevard, Rosemead, and other
locations pursuant to RMC Sec. 1.08.020.
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