OB - Item 2A - Minutes of August 29, 2016ACTION MINUTES OF THE
OVERSIGHT BOARD FOR THE SUCCESSOR
AGENCY TO THE ROSEMEAD COMMUNITY
DEVELOPMENT COMMISSION SPECIAL MEETING
August 29, 2016
The Special meeting of the Oversight Board for the Successor Agency to the Rosemead Community
Development Commission was called to order Board Member Manis at 5:33 p.m. in the Rosemead City
Council Chamber located at 8838 East Valley Boulevard, Rosemead, California.
PLEDGE OF ALLEGIANCE: Board Member Jones
PRESENT: Board Members Jones, Manis,
ABSENT: Chair Wallach, Vice -Chair Sotelo,
STAFF PRESENT: Finance Director Chu, City Engineer
Acting City Clerk Hernandez
1. PUBLIC COMMENTS FROM THE AUDI
2. CONSENT CALENDAR
A. Approval of
• Mini
Recommen
ACTION: Board Memk
seconded,tc
following roll
ABSENT: Sc
3. MATTERS FROM STAF
of May 2016
Assell- Chavez `and Storti
ecial Projects Manager Cannon, and
of May 9, 2016
1- Chavez moved, and Board Member Redondo - Churchward
the recommended action. The motion unanimously carried by the
AYES: Jones, Manis, Redondo - Churchward, Russell- Chavez, Stod
THE ROSEMEAD SUCCESSOR AGENCY
A. Confirm Appointment of New Board Member
Recommendation: That the Oversight Board approve Resolution 2016 -008 OB Appointing
Dr. Richard Storti to the Oversight Board.
Oversight Board Special Meeting
Minutes ofAugust 29, 2016
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ITEM NO. 2.A
ACTION: Board Member Russell- Chavez moved, and Board Member Jones seconded, to approve the
recommended action. The motion unanimously carried by the following roll call vote: AYES:
Jones, Manis, Redondo - Churchward, Russell-Chavez, Storti ABSENT: Soleto, Wallach
B. Issuance of Refunding Bonds, Making Certain Determinations with Respect to the
Refunding Bonds, and Providing Other Matter Relating Thereto
Recommendation: That the Oversight Board approve Resolution No. 2016 -009 OB
Michael Bush Finance Advisor explained to the Board on the benefits and savings of refinancing the bonds at
the current rates.
ACTION: Board Member Redondo - Churchward moved, and Board Member Russell- Chavez
seconded, to approve the recommended action. The motion unanimously carried by the
following roll call vote: AYES: Jones, Manis, Redondo - Churchward, Russell-Chavez, Storti
ABSENT: Soleto, Wallach
4. ADJOURNMENT
The meeting adjourned at 5:45 p.m. The next regular Rosemead, Oversight Board meeting is
scheduled to take place on Monday, September 12, 2016 at 5 :30 p.m.
Marc Donohue
City Clerk
Oversight Board Special Meeting
Minutes of August 29, 2016
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