OB - Minutes - 08-29-16 ACTION 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, Redondo-Churchward, Russell-Chavez and Stodi
ABSENT: Chair Wallach, Vice-Chair Sotelo,
STAFF PRESENT: Finance Director Chu, City Engineer Fajardo, Special Projects Manager Cannon, and
Acting City Clerk Hernandez
1. PUBLIC COMMENTS FROM THE AUDIENCE - None
2. CONSENT CALENDAR
A. Approval of Minutes
• Minutes of May 9, 2016
Recommendation: Approve the Minutes of May 9, 2016
ACTION: Board Member Russell-Chavez moved, and Board Member Redondo-Churchward
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
3. MATTERS FROM STAFF OF THE ROSEMEAD SUCCESSOR AGENCY
A. Confirm Appointment of New Board Member
Recommendation: That the Oversight Board approve Resolution 2016-008 08 Appointing
Dr. Richard Storti to the Oversight Board.
Oversight Board Special Meeting
Minutes of August 29, 2016
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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
s
Chair
Oversight Board Special Meeting
Minutes of August 29, 2016
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