HomeMy WebLinkAboutPCDC Minutes 12/04/1995MINUTES
OF A
PETALUMA COMMUNITY DEVELOPMENT COMMISSION
MEETING
MONDAY, DECEMBER 4, 1995
ROLL CALL: 10:00 p.m.
Present: Hamilton, Stompe, Maguire, Vice Chairman Shea, Chairman Hilligoss
Absent: Barlas
MINUTES:
The minutes of the November 20 meeting were not approved. They will be resubmitted.
RESO. 95-11
DECLARATION OF INTENT - OAKMONT PROJECT
Resolution 95-11 declaring Official Intent of the Petaluma Community Development
Commission to reimburse certain expenditures from proceeds of indebtedness - Oakmont
Project. The project is a 76 unit senior assisted living apartment complex to be located on
Wood Sorrel Drive. The amount of bonds that are anticipated to be issued will not exceed
$4,500,000. This shall be a limited obligation of the commission payable solely from revenues
received from or on behalf of the owner of the project and this shall not create a debt or
liability on the part of the commission. The faith and credit of the commission are not pledged
for payment of this indebtedness. Introduced by Vice Chairman Shea seconded by Matt
Maguire.
Ayes: Hamilton, Stompe, Maguire, Vice Chairman Shea, Chairman Hilligoss
Noes: None
Absent: Barlas
RESO. 95-12
FOR OAKMONT PROJECT BOND ISSUE - APPOINT:
BOND COUNSEL - ORRICK, HERRINGTON & SUTCLIFFE
FINANCIAL ADVISOR - CGMS, INC
UNDERWRITER - FIRST ALBANY, INC
Resolution 95-12 appointing financial advisor CGMS, Inc., bond counsel Orrick, Herrington
& Sutcliffe, and underwriter First Albany Inc., for the Oakmont Retirement Apartments multi-
family revenue bonds and authorizing the Chairman or Executive Director to execute
agreements with the firms. Introduced by Vice Chairman Shea seconded by Matt Maguire.
Ayes: Hamilton, Stompe, Maguire, Vice Chairman Shea, Chairman Hilligoss
Noes: None
Absent: Barlas
ADJOURN At 10:
ATTEST:
10 p.m. the meeting w s adj
M. Patr cia Ililligoss, Chairman
PCDC Meeting Monday. December 4, 1995 Page 1 of 1 page
Patricia E. Bernard, Recording Secretary
PCDC Meeting Monday. December 4, 1995 Page 2 of 1 page